Investment in renewable energy is on the rise

November 4, 2016

Renewable energy growth is on the riseWhile many companies continue to mull over the benefits of investing in renewable energy, a World Energy Council study shows its steady and continued growth worldwide.

According to a Clean Technica article about the study, more than 30% of existing power installations across the world are sourced by renewable energy, which means 23% of the world's production of electricity now comes from renewable sources. These numbers represent what the article calls a “tipping point" for transition to renewables.

Also from the article:

Specifically, over the last decade, wind and solar PV have seen a meteoric rise, representing 23% and 51% respectively in terms of average annual growth in installed capacity…

In 2015, a record $286 billion was invested into 154 GW of new renewable energy capacity—of which wind and solar PV accounted for 76% together.

Contributing to these impressive increases is the fact that the amount of new renewable energy capacity exceeded the amount of new conventional generation capacity by quite a bit. Organizations across the world are moving to renewable energy in record numbers, fueled by benefits such as lower energy costs and a positive reflection on their brand.

 

Related links: 

Solar battery storage could increase savings for over 25% of commercial utility customers

Forecast says there may never be a better time to invest in commercial solar

The ever-evolving benefits of commercial solar adoption

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