HOW IS THE WORLD DOING IN ADOPTING RENEWABLES?
“Thanks to supportive policies now in place in at least 145 countries (up from 138 countries reported last year), worldwide power generation capacity from wind, solar photovoltaic (PV), and hydro sources alone were up 128 GW from 2013.
“As of end-2014, renewables comprised an estimated 27.7% of the world’s power generating capacity, enough to supply an estimated 22.8% of global electricity demand.
“Solar PV capacity has grown at the most phenomenal rate-up 48-fold from 2004 (3.7 GW) to 2014 (177 GW)-with strong growth also in wind power capacity (up nearly 8-fold over this period, from 48 GW in 2004 to 370 GW in 2014). …
“The renewable energy sector’s growth could be even greater if the more than USD 550 billion in annual subsidies for fossil fuel and nuclear energy were removed. Subsidies perpetuate artificially low energy prices from those sources, encouraging waste and impeding competition from renewables. “
Wind is anticipated to save consumers $280 billion in avoided natural gas costs by 2050.