Renewable Energy

Renewable Energy

By Dr. Arvind Kumar

According to the United Nations' latest renewable energy report entitled REN21 Renewables 2011 Global Status Report, in 2010 renewable energy accounted for 16 percent of global final energy consumption and close to 20 percent of global electricity production. Despite ongoing global economic doldrums, all this cuts in incentives and low prices for natural gas. Besides, 2010 witnessed strong growth in renewable energy. An estimated 30 gigawatts (GW) of hydrowater generating capacity was added, and solar water- and space-heating capacity grew by an estimated 16 percent or 25 gigawatts-thermal. Last year, 50 percent of added power-generating capacity came from renewable energy sources, and renewable energy now provides about 25 percent of the world's power-generating capacity. Wind power accounted for the greatest portion of added renewable-energy capacity, leading hydropower and solar photovoltaic (PV) power.

Highlighting the continuing importance of national renewable energy policies, the REN21 report notes that they remain the primary driver of growth in renewable energies. While just 55 countries had such policies in 2005, as of early 2011 at least 119 countries had such policies, with more than half of them in the developing world. The report also points out that at least 95 nations have enacted policies to support renewable power generation, with feed-in tariffs being the most common type. In 2010, investment in renewable energy reached $211 billion, around 33 percent more than in the previous year. Investments in renewable energy companies, biofuel projects and utility-scale generation projects grew to $143 billion in 2011. India also needs to evolve a well-concerted policy to encourage the use of renewable energy.

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