In 2009, for the second year in a row, both the US and Europe added more power capacity from renewable sources such as wind and solar than conventional sources like coal, gas and nuclear, according to twin reports launched today by the United Nations Environment Programme and the Renewable Energy Policy Network for the 21st Century (REN21).
Renewables accounted for 60 per cent of newly installed capacity in Europe and more than 50% in the USA in 2009. Investment in core clean energy (new renewables, biofuels and energy efficiency) decreased by 7% in 2009, to $162 billion. Many sub-sectors declined significantly in money invested, including large (utility) scale solar power and biofuels. However, there was record investment in wind power.
Globally, nearly 80 GW of renewable power capacity was added in 2009, including 31 GW of hydro and 48 GW of non-hydro capacity. This combined renewables figure is now closing in on the 83GW of fossil-fuel, thermal capacity installed in the same year. If the trend continues, then 2010 or 2011 could be the first year that new capacity added in low carbon power exceeds that in fossil-fuel stations.
Investment in renewable energy power capacity (excluding large hydro) in 2009 was comparable to that in fossil-fuel generation, at around $100 billion each. If the estimated $39 billion of investment in large hydro is included, then total investment in renewables exceeded that in fossil-fuel generation for the second successive year.