NEW ENERGY MARCHES ON

The Global Renewable Energy Report Card

Robert Rapier, June 16, 2014 (Investing Daily)

“…Despite declining policy support and uncertainty in many European countries and the US, renewables continued to grow globally [according to REN21’s Renewables 2014 Global Status Report]. In the power sector global capacity exceeded 1,560 gigawats (GW), up more than 8 percent over 2012…Solar photovoltaics (PV) continued to expand at a rapid rate, with growth in global capacity averaging almost 55 percent annually over the past five years. Even as global investment in solar PV declined by nearly 22 percent from 2012, new PV capacity installations increased by about 32 percent as a result of sharply falling levelized costs. For the first time ever, the world added more solar PV than wind power capacity in 2013…Global new investment in non-hydropower renewable power and fuels was an estimated $214 billion in 2013, 53 percent of which went into solar power. The total was down 14 percent from 2012 and 23 percent lower than the current peak investment year of 2011…China made the largest investment globally at $54 billion, followed by the US ($34 billion), Japan ($29 billion), the United Kingdom ($12 billion) and Germany ($10 billion)…” click here for more

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