Investment in renewable energy is on the rise

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

Renewable energy now accounts for more than 30% of the total global installed power generation capacity and 23% of total global electricity production. And according to a Clean Technica article about the study, these numbers represent a “tipping point of grand energy transition.”

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.”

The report concluded that by the end of 2015, 164 countries had renewable energy support policies in place.

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 last year. 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

What you might not know about commercial solar

What’s the best renewable energy for you?

This post originally appeared on the SunPower Business Feed.


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