nuclear-news

REN21’s Renewables 2013 Global Status Report and UNEP/BNEF’s Global Trends in Renewable Energy Investment 2013 were launched last week; showing demand for renewable energy continued to increase during 2011 and 2012, providing an estimated 19% of global final energy consumption in 2011.

2012 was the second highest year ever for renewable energy investments – but being “second” doesn’t reflect installed capacity as prices for renewable energy equipment, particularly related to solar power, have plummeted.

Last year was another record year in terms of installed capacity; with 115 GW of new renewables put in place globally. However, 2012 saw the most significant change so far in the balance of renewable energy investment activity between developed and developing economies.

Investment in developing countries hit USD $112 billion, accounting 46% of the world total and up from 34% in 2011. Renewables investment in developed economies dropped 29% to USD $132 billion, the lowest level since 2009. Also affecting the developed economy total was a cooling off on wind and solar subsidies in Europe and the United States.

An estimated 5.7 million people globally were working directly or indirectly in the renewable energy sector in 2012. The majority of employment remains focused in countries such as Brazil, China, India, some EU member states and the USA. The report quotes the example of Bangladesh, where selling, installing and maintaining small solar panels in rural areas directly employs up to 70,000 people; with an additional estimated 80,000 employed indirectly.

In relation to solar PV, the jobs environment was a mixed bag. Solar panels and inverters flooded the market and plummeting prices resulted in layoffs and bankruptcies on the manufacturing side, but saw the ranks of solar installers increase. An estimated 1,379,000 people were employed directly and indirectly in the solar PV sector in 2012.

“Overall, aggregate worldwide renewable energy employment continues to increase in a dynamic – albeit somewhat tumultuous -process that entails both gains and losses in different parts of the world,” states the report.  REN21’s Renewables 2013 Global Status Report can be viewed in full here(PDF).