Solar Powers Renewable Energy Sector

Amid a spectacular price plunge in the capital cost of renewable energies, solar attracted nearly twice as much investment as wind, driving the renewable energy sector to yet another record-breaking year in 2011, albeit one beset with challenges for the industry, according to two new reports on renewable energy trends released on Monday by the United Nations Environment Programme (UNEP) and the Renewable Energy Policy Network for the 21st Century (REN21).

Global Trends in Renewable Energy Investment 2012 is the fifth edition of the UNEP report, based on data from Bloomberg New Energy Finance, and has become the standard reference for global clean energy investment figures. This year it shows that despite an increasingly tough competitive landscape for manufacturers, total investment in renewable power and fuels last year increased by 17 percent to a record $257 billion, a six-fold increase on the 2004 figure and 94 percent higher than the total in 2007, the year before the world financial crisis.

Although last year’s 17 percent increase was significantly smaller than the 37 percent growth recorded in 2010, it was achieved at a time of rapidly falling prices for renewable energy equipment and severe pressure on fiscal budgets in the developed world.

The REN21 Renewables 2012 Global Status Report, notes that during 2011 renewables continued to grow strongly in all end-use sectors – power, heating and cooling and transport. Renewable sources have grown to supply 16.7 percent of global energy consumption. Of that, the share provided by traditional biomass has declined slightly while the share sourced from modern renewable technologies has risen.

In 2011, renewable energy technologies continued to expand into new markets: around 50 countries installed wind power capacity, and solar photovoltaic (PV) capacity moved rapidly into new regions and countries. Solar hot water collectors are used by more than 200 million households as well as in many public and commercial buildings worldwide.

Source and Read More

  

If you want to know more about this and other topics directly from end users of energy storage technologies join us at one of these annual events: The Energy Storage World Forum (Grid Scale Applications), or The Residential Energy Storage Forum, or one of our Training Courses.

LATEST ARTICLES

Ultracapacitor UPS (U-UPS) for voltage dips and micro-interruptions

Power interruptions are the most frequent power supply problems with wide-ranging consequences for industry. The causes of these interruptions include short-circuits in the distribution grid, lightning strikes, the connection and disconnection of power plants as well as volatile energy producers such as wind and solar. Because technologies and production processes are becoming increasingly complex, the…

Read More

When Global Green Economy Met Energy Storage

Our energy system is dynamically evolving. The realization of the urgency towards Net Zero, Green economies has been more pressing than ever. The energy transformation serving a more sustainable future, safeguarding our ecosystem and protecting our planet is of paramount importance for many developed and developing nations across the globe. In this analysis, we delve…

Read More

Energy Storage Systems: the role of an Integrator

Simplifying BESS deployments by mastering their associated risks With the introduction of Battery Energy Storage Systems ‘BESS’, a new role has been created on the value chain. It is the role of a BESS integrator. The role of an integrator can be misunderstood at times or blended with other roles at other times. This is…

Read More

★REVIEWS

“Probably the most interactive and well organized storage event on the calendar.”

★★★★★

Sales Director, S&C

“Great topics, competent speakers, good networking: keep it like that.”

★★★★★

TLC & SCADA Manager, FRI-EL

“High scientific content, well targeted, perfect organization.”

★★★★★

Expert Technical & Governance, Elia

Excellent networking event. The sponsorship was well worth it.”

★★★★★

Manager, ATL

View More

x