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According to research by REN21, the global cost of wind and solar energy became more competitive with fossil fuels last year, and the amount of renewable energy installed worldwide reached a record high
last year.
REN21 said in its annual Renewable Energy Global Status Report that renewable generation capacity showed significant growth in 2017, with 178 gigawatts (GW)
of new capacity.
Among them, new solar photovoltaic power generation reached a record 98 GW, up 29% from the previous year, while new wind power installed capacity was 52 GW, down 4%
from 2016.
In 2017, the total global renewable electricity capacity, including hydropower, increased from 2,017 GW the year before to 2,195 GW
in 2017.
In 2017, new renewable energy capacity far exceeded new fossil fuel generation
.
In 2017, renewables accounted for 70%
of the net increase in global electricity generation, the report said.
Moreover, in 2017, new global investment in renewables and fuels amounted to nearly US$277 billion (£209.
05 billion), up from US$274 billion in 2016 and more than
double the amount of new fossil fuel and nuclear capacity investments.
Last year, however, energy demand and energy-related carbon dioxide (CO2) emissions grew
for the first time in four years.
Global energy demand increased by 2.
1% and CO2 emissions increased by 1.
4%
due to economic growth and population growth in emerging economies.
REN21 said in a statement: "The use of renewable energy has not kept pace with this growing energy demand and continued investment
in fossil energy and nuclear capabilities.
”
The use of renewable energy in the heating, cooling and transportation sector, which accounts for about four-fifths of global final energy demand, still lags behind the power sector
.
About 92 per cent of transport energy needs continue to be met by oil, and only 42 countries have set targets
for the use of renewable energy in transport.
Randa Adib, executive secretary of REN21, said, "We may be working on a path to a 100% renewable electricity future, but when it comes to heating, cooling and transport, we are moving very slowly
.
”
According to research by REN21, the global cost of wind and solar energy became more competitive with fossil fuels last year, and the amount of renewable energy installed worldwide reached a record high
last year.
REN21 said in its annual Renewable Energy Global Status Report that renewable generation capacity showed significant growth in 2017, with 178 gigawatts (GW)
of new capacity.
Among them, new solar photovoltaic power generation reached a record 98 GW, up 29% from the previous year, while new wind power installed capacity was 52 GW, down 4%
from 2016.
In 2017, the total global renewable electricity capacity, including hydropower, increased from 2,017 GW the year before to 2,195 GW
in 2017.
In 2017, new renewable energy capacity far exceeded new fossil fuel generation
.
In 2017, renewables accounted for 70%
of the net increase in global electricity generation, the report said.
Moreover, in 2017, new global investment in renewables and fuels amounted to nearly US$277 billion (£209.
05 billion), up from US$274 billion in 2016 and more than
double the amount of new fossil fuel and nuclear capacity investments.
Last year, however, energy demand and energy-related carbon dioxide (CO2) emissions grew
for the first time in four years.
Global energy demand increased by 2.
1% and CO2 emissions increased by 1.
4%
due to economic growth and population growth in emerging economies.
REN21 said in a statement: "The use of renewable energy has not kept pace with this growing energy demand and continued investment
in fossil energy and nuclear capabilities.
”
The use of renewable energy in the heating, cooling and transportation sector, which accounts for about four-fifths of global final energy demand, still lags behind the power sector
.
About 92 per cent of transport energy needs continue to be met by oil, and only 42 countries have set targets
for the use of renewable energy in transport.
Randa Adib, executive secretary of REN21, said, "We may be working on a path to a 100% renewable electricity future, but when it comes to heating, cooling and transport, we are moving very slowly
.
”
