Renewable energy capacity additions in 2020 expanded by more than 45% from 2019, including a 90% rise in global wind capacity
(green) and a 23% expansion of new solar photovoltaic
Renewable energy is useful energy that is collected from renewable resources, which are naturally replenished on a human timescale, including carbon neutral sources like sunlight, wind, rain, tides, waves, and geothermal heat. This type of energy source stands in contrast to fossil fuels, which are being used far more quickly than they are being replenished. Although most renewable energy is sustainable energy, some is not, for example some biomass is unsustainable.
Renewable energy often provides energy in four important areas: electricity generation, air and water heating/cooling, transportation, and rural (off-grid) energy services.
Based on REN21's 2017 report, renewables contributed 19.3% to humans' global energy consumption and 24.5% to their generation of electricity in 2015 and 2016, respectively. This energy consumption is divided as 8.9% coming from traditional biomass, 4.2% as heat energy (modern biomass, geothermal and solar heat), 3.9% from hydroelectricity and the remaining 2.2% is electricity from wind, solar, geothermal, and other forms of biomass. In 2017, worldwide investments in renewable energy amounted to US$279.8 billion with China accounting for 45% of the global investments, and the United States and Europe both around 15%. Globally there were an estimated 10.5 million jobs associated with the renewable energy industries, with solar photovoltaics being the largest renewable employer. Renewable energy systems are rapidly becoming more efficient and cheaper and their share of total energy consumption is increasing. As of 2019, more than two-thirds of worldwide newly installed electricity capacity was renewable. Growth in consumption of coal and oil could end by 2020 due to increased uptake of renewables and natural gas. As of 2020, in most countries, photovoltaic solar and onshore wind are the cheapest forms of building new electricity-generating plants.
At the national level, at least 30 nations around the world already have renewable energy contributing more than 20 percent of their energy supply. National renewable energy markets are projected to continue to grow strongly in the coming decade and beyond.
At least two countries, Iceland and Norway, generate all their electricity using renewable energy already, and many other countries have the set a goal to reach 100% renewable energy in the future.
At least 47 nations around the world already have over 50 percent of electricity from renewable resources. Renewable energy resources exist over wide geographical areas, in contrast to fossil fuels, which are concentrated in a limited number of countries. Rapid deployment of renewable energy and energy efficiency technologies is resulting in significant energy security, climate change mitigation, and economic benefits. In international public opinion surveys there is strong support for promoting renewable sources such as solar power and wind power.
While many renewable energy projects are large-scale, renewable technologies are also suited to rural and remote areas and developing countries, where energy is often crucial in human development. As most of renewable energy technologies provide electricity, renewable energy deployment is often applied in conjunction with further electrification, which has several benefits: electricity can be converted to heat, can be converted into mechanical energy with high efficiency, and is clean at the point of consumption. In addition, electrification with renewable energy is more efficient and therefore leads to significant reductions in primary energy requirements.
In 2017, investments in renewable energy amounted to US$279.8 billion worldwide, with China accounting for US$126.6 billion or 45% of the global investments. According to researcher Dr Cornelia Tremann, "China has since become the world's largest investor, producer and consumer of renewable energy worldwide, manufacturing state-of-the-art solar panels, wind turbines and hydroelectric energy facilities" as well as becoming the world's largest producer of electric cars and buses. (Full article...)