The World Energy Council optimistic about renewable energy
According to a new report from The World Energy Council (WEC), “wind and solar power enjoy a decade of massive growth of 23 percent and 50 percent” throughout the globe. Over the last 10 years, renewable energy has been experiencing an “explosive average annual growth.” $286 billion was invested in 154 gigawatts on renewable energy in 2015. Fossil fuels are still the largest recipient of energy investment, accounting for 45%. Wind and solar are gaining ground with 37% and 34%, respectively. Hydropower is also growing and accounted for over 20% of renewable energy investments. Renewables are the wave of the future! The WEC drew upon 32 country case studies to accurately depict their report on the progress of clean energy.
China at the top of global energy leaders
China leads the way in clean energy efforts. They represent 36% of renewable energy investments for 2015. In addition, they are reducing and working to end their coal-based energy production.
Last year, global leaders reached an agreement to help reduce the climate crisis. Making sure “global warming stayed below 2 degrees Celsius and to also pursue efforts to limit the temperature rise to 1.5 degrees Celsius.” World leaders and energy pioneers are making a big push to generate clean energy through sustainable sources. Global efforts in renewables have created a paradigm that will aid ecosystems, society, smart growth, climate crisis, energy efficiency, green living, sustainability and much more.
Nonetheless, there are still many bottlenecks when it comes to the development and integration of renewables. The progression of new energy sources will be hindered without the right market design, regulatory framework, and regional planning,
The clean energy movement is on the rise and it is a big part of our future. As members of our global community, it is imperative that we are aware of this movement. We too can do our part, and benefit from renewable power sources.