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Renewable energy growth outpaces coal, gas and nuclear

Both the US and Europe added more renewable power capacity in 2009 than they added coal, gas, and nuclear capacity. Globally, 80,000 megawatts of renewable capacity was added, with China adding nearly half the total

Renewable Energy Investment is Growing – 24/7 Wall St., Paul Ausick, 21 Aug 2010, An international policy network called the Renewable Energy Policy Network for the 21st Century, or REN21, has released its global status report for 2010. Made up of representatives of industry, governments, non-governmental organizations, and others, the group promotes the rapid development of renewable energy worldwide.The 2010 report examines the state of the renewables industry in 2009, and the highlight number reported is that 19% of global final energy consumption now comes from renewable sources. That is a far larger number than many would expect…….

Total investment in renewable assets (excluding large hydropower projects) in the first quarter of 2010 totaled $29.5 billion, up from $26 billion in the 2009 fourth quarter and up from about $18 billion from the first quarter of 2009. Venture capital funding and private equity investment totaled $2.9 billion in the first quarter, up from $1.5 billion in the same period a year ago and up from $1.7 billion sequentially.

The report also notes that 85 countries have set policy targets for renewables, including all 27 members of the European Union. Conspicuous by its absence is the US, although the report points out that 36 states and the District of Columbia have set renewable portfolio standards.

Both the US and Europe added more renewable power capacity in 2009 than they added coal, gas, and nuclear capacity. Globally, 80,000 megawatts of renewable capacity was added, with China adding nearly half the total and nearly three-quarters of the total excluding hydropower additions. Renewable Energy Investment is Growing – 24/7 Wall St.

August 21, 2010 - Posted by Christina Macpherson | 2 WORLD, renewable | antinuclear, climate change, energy efficiency, global warming, nuclear, nuclear costs, nuclear renaissance, renewable energy, renewables, solar, wind