Investment in renewable energy reached a record high globally last year, according to two reports, with $257 billion (£165 billion) pumped into the sector in 2011 – six times the amount invested in 2004.
The reports, Global Trends in Renewable Energy Investment 2012, published by United Nations Environmental Programme (UNEP), and Renewables 2012 Global Status Report, published by REN21 (Renewable Energy Policy Network for the 21st Century), present a 17% increase in renewable investment in the last year, despite the economic downturn.
UNEP’s extensive report, based on data from Bloomberg New Energy Finance, adds that the $257 billion figure also stands at a point 93% higher than the total in 2007, the year before the financial crisis reared its head.
Achim Steiner, UN under-secretary general and UNEP executive director, expressed in the report that there may be multiple reasons driving this renewable investment: “Whatever the drivers, the strong and sustained growth of the sector is a major factor that is assisting many countries towards a transition to low-carbon, resource efficient green economy”, he said.
“This sends a strong signal of opportunity to world leaders and delegates meeting later this month at the Rio+20 summit: namely that transforming sustainable development from patchy progress to a reality for seven billion people is achievable when existing technologies are combined with inspiring policies and decisive leadership.”
The REN21 report relies on the most up-to-date information available, provided by a network of more than 400 contributors and researchers from across the globe. In the study, not only do we see that renewable energy sources have grown to supply an estimated 16.7% of global final energy consumption in 2012, but renewables also accounted for almost half of the estimated 208 gigawatts (GW) of electric capacity added globally during 2011.
“Although there is still a long way to go to provide energy access for all”, explained Mohamed El-Ashry, chairman of REN21.
“Today more people than ever before derive energy from renewables as capacity continues to grow, prices continue to fall, and shares of global energy from renewables continue to increase.”
The events that occurred at the Fukushima Power Plant in Japan last year impacted heavily on the energy spectrum and triggered a debate on nuclear power. In Germany for example, the disaster led to a commitment to rapid exit from nuclear energy use by 2022.
Also in 2011, figures compiled by the Pew Charitable Trusts, titled Who’s Winning the Clean Energy Race?, revealed a total of £5.9 billion had been pumped into the renewable energy sector that year.
Two of Blue & Green Tomorrow’s recent in-depth reports – The Rise of Renewable Energy and The Guide to Sustainable Investment – work well in tandem when assessing the impact of investing in renewables. We recommend getting in touch with Good Energy – the UK’s only 100% renewable electricity supplier – once you’ve been inspired to switch to clean power.
Like our Facebook Page
Prominent Trends in Seafood Sustainability in 2022
Can PEMF Help To Improve Plant Growth for Eco-Friendly Gardeners
How the U.S. Government is Promoting Green Energy in the Country
12 Essential Things for Buying Your First Home
Harnessing Sustainability with User-Centric Technology Innovation
Making Your Dream of Having an Eco-Friendly Garden Come True
Tips for Optimal Waste Management in Your Home
The Agricultural Benefits of Weather Stations for Eco-Friendly Farmers
What Makes Online Furniture Eco-Friendly?
How Eco-Friendly Indian Tourists Can Apply for Visas to Brazil
7 Eco-Friendly Plant-Based Alternatives for Everyday Products
Teaching Them While They’re Young: Sustainability Tips for All Ages
Top 5 Benefits of Eco-Friendly Cars
Why Eco-Friendly Homes Should Have Outdoor Bathrooms
Merits of Sustainability Reporting: What Every Manager Must Know
Low Emission and Clean Air Zones: What You Need To Know
4 Ways To Build A Sustainable Home
Why Transitioning Your Company to an EV Fleet Makes Sense?
CEO Brian Ladin Explains How The Shipping Industry Is Going Green
A Guide to Eco-Friendly Landscaping
- Features11 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy11 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features10 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Features10 months ago
5 Compelling Reasons to Hire an Eco-Friendly Contractor