New report reveals Renewable Energy installation PB for 2017
New findings released by REN21 in an annual Renewables global status report show a record amount of renewable power being installed on a global spectrum last year.
REN21’s latest report highlights that as costs became increasingly competitive with the industry’s sister sectors, renewable power capacity grew by an estimated 178 gigawatts (GW), marking Wind and Solar’s best year yet for new installations.
More specifically, new solar photovoltaic capacity hit a record of 98 GW, showing an increase of 29 percent since 2016. Meanwhile, new wind capacity finished the year on 52GW, which was 4 percent lower than 2016 figures.
In total, global renewable power capacity (inclusive of hydropower) increased to 2,2195 GW last year, indicating that renewables accounted for 70 percent of net additions to the global energy capacity.
Despite these successes, energy demand and energy-related carbon dioxide (CO2) emissions climbed for the first time in four years. Energy demand on a global front was 2.1 percent more than in 2017 and CO2 emissions were eventually 1.4 percent higher, widely due to emerging economies and population growth.
“We may be racing down the pathway towards a 100 percent renewable electricity future but when it comes to heating, cooling and transport, we are coasting along as if we had all the time in the world. Sadly, we don’t,” said Randa Adib, executive secretary at REN21.
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