Renewable energy makes up almost one-third of the world’s electrical capacity

A new report by the World Energy Council (WEC) asserts that renewable energy now makes up a critical portion of global electrical capacity. Last year, wind and solar installations overtook investments in conventional power-generating facilities; information from 32 country case studies claimed about 90% of installed wind and solar capacity worldwide. Hydroelectric energy from dams remains the bulk of renewable energy capacity, which accounts for about 30% of the total global installed power generating capacity, and 23% of total electricity production. The WEC report noted a record $286 billion was spent installing 154 billion GW of new renewable capacity worldwide, and 76% of it was represented by new wind and solar power. The report goes on to say that “the last 10 years, wind and solar… have witnessed an explosive average annual growth in installed capacity of 23% and 51% respectively.” The European Union has moved to reduce subsidies for renewable energy initiatives, signalling a shift from public to private sector investment, and a significant shift to developing country markets. New policies supporting  technologies, combined volatile situations in the Middle East, “the shale gas revolution” in the U.S. and the decline of nuclear power development, has driven an uptick in renewable energy deployments. In developed countries, the 2015 renewable energy investments reached $48.8 billion in Europe, $44.1 billion in the U.S. and $36.2 billion in Japan.

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