in News Departments > New & Noteworthy
print the content item

The installed capacity of renewable sources worldwide will reach an estimated 2,252.3 GW in 2020, finds a new report from Frost & Sullivan.

The report says the past decade has witnessed massive developments in terms of regulations and markets for renewable energy. While fewer than 50 countries worldwide had renewable support policies in place in the early part of the last decade, this number has now reached over 120. Investments in renewables have also risen dramatically over the past decade.

"The [European Union] has set binding targets to source 20 percent of the bloc's total energy consumption from renewable energy sources in 2020, and targets for individual member states range from 10 percent for Malta to 49 percent for Sweden," says Frost & Sullivan Energy and Environmental Industry Director Harald Thaler. "Climate and energy policies - as well as long-term price-based incentives, such as subsidies and tax benefits - can substantially boost renewable energy penetration and innovation."

While the sector has escaped relatively unscathed from the vagaries of the global economic downturn, the report says the market is beginning to feel the pinch now as investments begin to decline significantly. Frost & Sullivan believes this is also a clear sign of the gradual shift in market power to emerging economies, where economic development and revised energy priorities will drive a more sustained increase in the adoption of wind, solar and biofuel generation technologies.

Urbanization, population growth, and energy security concerns are other key drivers for the rise of renewable energy capacity in emerging regions such as Asia, Latin America, the Middle East and Africa. Further accelerating the uptake of new energy sources in developing countries is the need to diversify to reduce dependence on fossil fuels and the dramatic fall in the cost of renewable energy, the report says.

"Concerted renewable energy strategies have been in place in countries such as China, India and Brazil for some time, and other emerging markets are now promoting renewables in a more systematic fashion," comments Thaler. "Among developed nations, Japan in particular is undergoing a seismic shift away from nuclear power toward a much greater focus on renewables."





Hse SandyHook
Latest Top Stories

DOE Report: U.S. Wind Power Prices Reach All-Time Low

According to the U.S. Department of Energy (DOE), wind power continues to play a larger role in the U.S.' energy mix and is the cheapest it has ever been in the country.


Survey Reveals What U.S. Consumers Expect From Their Utilities

GE's new survey measures Americans' views on the state and future of the grid, as well as how much extra consumers would be willing to pay for better power reliability.


How A GIS Can Help Utilities Address The Aging Workforce And Capitalize On Data

Baby Boomers, whose experience and know-how have served the utility industry so well for decades, are retiring. The author suggests utilities can use a geographic information system (GIS) to fill in resultant knowledge gaps.


Sensus Smart Meters Tied To More Overheating Incidents And Fires

SaskPower is investigating two new meter failures, and Portland General Electric is working to replace 70,000 Sensus units amid fire concerns.


SaskPower Halts Smart Meter Installations Following Fires

The Canadian utility has suspended its smart meter deployment as it investigates half a dozen fires associated with the meters.

S&C Electric_id176
edf_id180