Renewable Energy

Highlights of the Renewable Energy Policy Network | REN21 | Report

First published in 2005, the annual Renewables Global Status Report is the most comprehensive and timely overview of the status, recent developments and trends in renewable energy markets, industries, investments, and policy developments worldwide. By design, it does not provide analysis or forecast. Data are provided by a network of 700 contributors, researchers, and authors from all over the world.

Renewable energy beats nuclear in the world’s top economies

On June 1, REN21 published the annual overview of the state of renewable energy. The Renewables 2016 Global Status Report reveals that renewables are now firmly established as competitive, mainstream sources of energy in many countries around the world.

REN21’s Renewables 2016 Global Status Report presents developments and trends through the end of 2015, as well as observed trends from early 2016 where available. This means that accelerated action to reduce greenhouse gas emissions stemming from the Paris Climate Agreement in December is not reflected in the results.

Climate Change and Renewable Energy

While trends are generally positive, the report highlights several challenges that remain to be addressed if governments are to fulfill their commitments to achieve a global transition away from fossil fuels. These include: achieving effective integration of high shares of renewables into the grid; addressing policy and political instability, regulatory barriers, and fiscal constraints. Further, there is far less policy focus on transport and, particularly, heating and cooling, so these sectors are progressing much more slowly.

2015 was a record year for renewable energy installations. Renewable power generating capacity saw its largest increase ever, with an estimated 147 gigawatts (GW) added. Modern renewable heat capacity also continued to rise, and renewables use expanded in the transport sector. Distributed renewable energy is advancing rapidly to close the gap between the energy haves- and have-nots.
2015 was a record year not only for new installations, but also for investment – reaching USD 286 billion worldwide in renewable power and fuels; if investment in large hydropower (>50 MW) and in heating and cooling is taken into account, the total is far higher. With China accounting for more than one third of the global total, developing countries surpassed developed countries in total renewable energy investments for the first time.

Steve Sawyer, Secretary General of Global Wind Energy Council: “A record 63.5 GW of wind power was installed worldwide in 2015, demonstrating the maturity of the sector; and showing how renewables are supplying competitive, reliable and clean energy to fuel economic growth and cut CO2 emissions, while at the same time creating new jobs, new industries, and enhancing energy security.”

With increased investment came an increase in technological advances, cost reductions and jobs. There are now 8.1 million people working in the renewable energy sector – representing steady growth in stark contrast with depressed labour markets in the broader energy sector.

Christine Lins, Executive Secretary of REN21, said, “What is truly remarkable about these results is that they were achieved at a time when fossil fuel prices were at historic lows, and renewables remained at a significant disadvantage in terms of government subsidies. For every dollar spent boosting renewables, nearly four dollars were spent to maintain our dependence on fossil fuels.”

View Full Report Here: http://www.ren21.net/wpcontent/uploads/2016/06/GSR_2016_Full_Report1.pdf

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