by Stephen Lacey, Greentechmedia The International Energy Agency is out with its latest medium-term outlook for global renewables. And once again, projections for installation and energy production have been revised upward. According to the IEA's analysis, renewable electricity will surpass output from natural gas and double generation from nuclear by 2016, becoming the second-most important source of electricity behind coal. Those projections for generation are 90 terawatt-hours higher than last year's medium-term renewable energy market report. The IEA now says that renewable electricity will make up one quarter of gross power generation in 2018, with non-hydro renewables accounting for 8 percent by that date. Although the IEA has always been outspoken about the need to deploy more low-carbon technologies and address climate change, the organization has been known for its conservative analysis about the future growth of renewables. For example, in 2003, it …