PARIS — Global generation capacity for solar, wind, and other renewable energy technologies grew 8.5 percent in 2014 over the year before, according to the 10th annual edition of REN21’s Renewables 2015 Global Status Report. About 135 gigawatts (GW) of added renewable power increased the total worldwide installed capacity to 1,712 GW.

The 2014 tally included record installations for solar photovoltaic (PV) systems and wind power. Solar PV capacity has grown from 3.7 GW in 2004 to 177 GW in 2014, and wind power capacity increased from 48 GW in 2004 to 370 GW in 2014. Also, for the first time in four decades, the world economy grew without a parallel rise in CO2 emissions, the report said.

New investment in renewable power and fuels reached at least $301 billion globally, more than twice that of investment in net fossil fuel power capacity, continuing the trend of renewables outpacing fossil fuels in net investment for the fifth year running. By dollars spent, the leading countries for investment were China, the United States, Japan, the United Kingdom, and Germany. Leading countries for investments relative to per-capita gross domestic product were Burundi, Kenya, Honduras, Jordan, and Uruguay.

REN21 is an international nonprofit association and is based at the United Nations Environment Programme in Paris, France. Key findings of the report are available here.

Publication date: 7/13/2015

Want more HVAC industry news and information? Join The NEWS on Facebook, Twitter, and LinkedIn today!