The recent economic slowdown appears to not have impacted the renewable energy sector as many had feared. Renewable energy has actually been exhibiting strength in recent years according to a new study. The Renewable Energy Policy Network for the 21st Century recently released their study, which was requested by the United Nations.
The study found that renewable energy installations outpaced fossil fuel installations in 2009 in Europe and the United States. According to the study, 60 percent of new energy installations in Europe were in the form of renewable energy. In the United States, just over 50 percent of new energy installations were from the renewable energy sector.
Overall, the study concluded that renewable energy installments should account for a larger percentage of installations than fossil fuels across the world and not just in Europe and the United States in 2010. This is in large part due to China’s renewable energy sector growth. In 2009, China installed 37 gigawatts of renewable energy across the country. China also increased their status as a world leader in building renewable energy equipment, such as their 40 percent hold in solar panels and 30 percent hold in wind turbine manufacturing.
In 2009, the study found that 25 percent of energy capacity across the globe was in the form of renewable energy. However, only 18 percent of electricity needs were met through renewable energy in 2009. Those behind the study believe that 2010 will be a major year for the renewable energy sector and will set a precedence for years to come.
Across the globe, renewable energy policies and investments appeared to also be of importance in 2009. 100 countries now have renewable energy policies compared to only 55 in 2005. Also, investment into the United Nations’ Environment Program was $162 billion despite the economic recession. However, this was a slight decrease from the $173 billion invested in 2008.
However, some involved still express concern regarding the state of renewable energy across the globe, especially in terms of the impact on climate change. United Nations’ Environment Program executive director Achim Steiner stated: “There still remains, however, a serious gap between the ambition and the science in terms of where the world needs to be in 2020 to avoid dangerous climate change.”
