Renewable energy is developing rapidly in terms of investment and energy production. The Renewable Energy 2007 Global Status Report made public in late February is food for thought for energy policymakers, citizens, and power and other companies. Renewable electricity generation capacity reached an estimated 240 gigawatts (GW) worldwide in 2007, a 50 percent rise over 2004.
Renewable energy represents 3.4 percent of global power generation. In 2006, "new" renewable energy, excluding large hydropower sources, generated as much electric power worldwide as one-quarter of the world's nuclear power plants.
The report was prepared by REN21 or the Renewable Energy Network for the 21st Century, a Paris-based global policy network, in collaboration with the Worldwatch Institute in Washington, D.C. The report states that global investment reached an estimated $71 billion (roughly ¥7.3 trillion) in new renewable power, fuel and heat-power assets in 2007, excluding large hydropower projects. Jobs in the renewable energy sector exceeded 2.4 million. Wind power accounted for 47 percent of the investment; solar photovoltaics (PV), 30 percent.
In the same year, global wind-power generating capacity is estimated to have increased 28 percent to 95 GW; grid-connected solar PV capacity was up 52 percent to 7.7 GW. Production of biofuels (ethanol and biodiesel) in 2007 topped an estimated 53 billion liters in 2007, up 43 percent from 2005.
As of the end of 2006, China had the biggest renewable energy-based power-generation capacity, with about 52 million kilowatts (kW). Japan came in sixth with 7 million kW. The European Union has a renewable energy target of 20 percent of final energy by 2020; China's target is 15 percent of primary energy.
Dr. Eric Martinot, lead author of the report, says, "The subject (renewable energy) has never been more relevant as concerns have become stronger about energy security, fossil fuel prices, climate change, air pollution, supply sufficiency and other issues that renewables are uniquely poised to address." His comment deserves serious attention.