Global Renewable Energy now accounts for 16% of final energy consumption in 2009 and for about a quarter of global power capacity from all sources. Despite the recession, there is momentum in the sector with total global investment in renewable power and fuels increasing by 32% over the previous year to $211 billion from $160 billion.
These are the figures stated in the Renewable 2011 Global Status Report (REN21). Produced annually since 2005, the report is targeted at policy makers, industry and other stakeholders.
Main findings of REN21
- In 2009, renewable energy supplied an estimated 16% of global final energy consumption. Fossil fuels made up the lion’s share at 81% with nuclear at 2.8%.
- However, of the 16%, 10% is still accounted for by traditional biomass, primarily used for cooking and heating in rural areas of developing countries. Hydropower accounts for 3.4% with other renewables (wind, solar, modern biomass, geothermal and biofuels) at 2.8% in 2009.
- Total investment in renewable energy reached a record $211 billion in 2010, up from $160 billion in 2009, including asset finance, venture capital, private equity investment, public markets and both corporate and government R&D. China attracted nearly $50 billion, making it the leader, followed by Germany, the United States, Italy and Brazil. India ranked 8th in the world for renewable energy investment which rose to US$3.8 billion mainly for wind power projects ($2.3bn) and $400 million each for solar and biomass power (including waste-to-energy). Read more