Renewable energy covers almost 20 percent of final energy demand worldwide
The massive expansion of renewable energy worldwide continues. In 2012, renewable energies accounted for 19 percent of global final energy consumption. Around 244 billion US dollars were invested in renewable energy, almost half of which went to developing and newly industrialised countries. These figures are taken from the Renewables Global Status Report 2013 and the report Global Trends in Renewable Energy Investments, which were published today in Paris and Frankfurt respectively.
According to these figures, 2012 was a record year regarding the new installation of electricity generation facilities. Worldwide, 115 gigawatts were added, accounting for more than half of all newly installed electricity generation facilities. The share of photovoltaics especially rose worldwide over the last two years. The growth of investments was particularly strong in developing countries, at 112 billion US dollars, compared to 132 billion US dollars in industrialised countries.
"These figures are proof that we do not stand alone with our new energy policy. Many countries are intensively discussing the possibility of transforming their energy system. It is quite remarkable that overall investments in renewable energy, especially in developing countries, have been continuously growing for eight years now," Federal Environment Minister Peter Altmaier commented.
Federal Minister for Economic Cooperation, Dirk Niebel, added: "High investments combined with the falling prices in the renewables sector increases economic flexibility and thus development opportunities for developing and newly industrialised countries. Germany has actively supported this trend for years by focussing its development cooperation on this field."
The figure of 244 billion US dollars in 2012 was the second largest overall investment achieved in any year to date. The decline compared to the previous year can be attributed to the falling prices of photovoltaic technology and weaker markets in the US and Europe.
The number of countries with goals and targeted support policies for expanding renewable energy has risen to 138. Developing countries make up two thirds of this number.
The Renewables Global Status Report is published annually by REN21 (Renewable Energy Policy Network for the 21st Century), a global policy network founded in 2005 following the renewables2004 conference in Bonn. In addition to governments, international organisations and NGOs, representatives from industry, the finance sector and civil groups from the fields of energy, environment and economic development take part in this network. Both the Federal Environment Ministry and the Federal Ministry for Economic Cooperation and Development provide financial support for REN21. The Global Status Report is the major inventory of the expansion of renewable energy worldwide.
The Collaborating Centre for Climate & Sustainable Energy Finance of the United Nations Environment Programme (UNEP), the Frankfurt School of Finance and Management, which is supported by the Federal Environment Ministry, and the market research company Bloomberg New Energy Finance jointly draw up the report on the developments in investments in renewable energy every year.