*Renewables investment remains on upward trend
*Hydro main contributor to renewable electricity supply
*China is lead renewables investor
A record 147 GW of renewable generating capacity was installed
worldwide in 2015, according to REN21's Renewables Global Status
Report published Wednesday.
Renewable heat capacity increased by 38 GW (thermal).
Investment in renewable power and fuel amounted to $285.9 billion
in 2015, compared with $273 billion in 2014. China led the way in
renewable power investment, followed by the United States, Brazil,
Germany and Canada.
Seventy-seven percent of new power installations were in wind and
solar, with most of the remainder hydropower. Wind saw capacity
additions of 63 GW, solar PV 50 GW and hydro 28 GW.
The report said that enough renewable capacity was in place at
end-2015 to meet 23.7% of global electricity demand, with hydro
comprising a 16.6% share. The share for wind was 3.7%, bio-power
2.0% and solar PV 1.2%.
Renewables provided about 8% of heating and cooling demand,
according to the report, primarily from biomass, with smaller
contributions from solar thermal and geothermal. The renewable
contribution in road transport was 4%, derived predominantly from
biofuels.
The report noted that this record investment came during a period of
low fossil fuel prices and that renewables are now competitive with
fossil fuels in many markets. Moreover, as of early 2016, 173
countries have renewable energy targets in place and 146 have
support policies. REN21 is a non-profit association based within the
United Nations Environment Programme in Paris.
--Ross McCracken,
ross.mccracken@spglobal.com
--Edited by Geetha Narayanasamy,
geetha.narayanasamy@spglobal.com
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