You probably already know that the use of renewable energy sources like wind and solar is on the rise, but a recent report reveals that these clean energy solutions have actually taken the lead in new energy production around the globe.
The International Energy Agency’s report states that renewable energy accounted for more than half of all new energy production in 2015, an increase of 15 percent from the 2014 total.
One reason renewable energy is booming is because governments all over the world are embracing their energy future, both to protect the planet from climate change and to become more energy-independent. Just this year, nearly 200 nations signed the Paris Agreement, which stipulates that member states work together to limit the increase in global average temperature to two degrees celsius.
Another contributing factor to the spread of clean energy technologies is an ongoing drop in the price of production, thanks to constantly improving technology and growth in manufacturing for the renewable energy industry.
The growth in renewables is due in part to small-scale installations like solar panels on residential rooftops, but what really carried the category into the lead is the expansion of massive wind and solar plants. During 2015, around a half million solar panels were installed around the world every single day.
Looking to the Future
Renewable-friendly policy and market trends are expected to continue, which has prompted the International Energy Agency to project a 42 percent increase in new renewable energy production by 2021. If this goal is met, nearly 30 percent of all energy production worldwide will come from renewable sources.
Renewable energy even overtook coal in 2015 in terms of global energy capacity, though the coal industry still produced more in the end. The total capacity for renewable energy will always exceed the actual production, since solar panels can’t produce in the dark and turbines can’t turn without wind. But with solar, wind and hydroelectric power on the march, the day when renewables overtake coal in production may not be far off.
Are you thinking about joining the effort by adding solar or wind energy systems to your home? Call your knowledgeable local electricians today for a no-obligation consultation.