2007: an Analysis of the Renewable Power Industry

Consider these facts, taken from the Renewables 2007 Global Status Report:

  • Renewable electricity generation capacity reached an estimated 240 gigawatts (GW) worldwide in 2007, an increase of 50 percent over 2004. Renewables represent 5 percent of global power capacity and 3.4 percent of global power generation. (Figures exclude large hydropower, which itself was 15 percent of global power generation.)

  • Renewable energy generated as much electric power worldwide in 2006 as one-quarter of the world’s nuclear power plants, not counting large hydropower. (And more than nuclear counting large hydropower.)

  • The largest component of renewables generation capacity is wind power, which grew by 28 percent worldwide in 2007 to reach an estimated 95 GW. Annual capacity additions increased even more: 40 percent higher in 2007 compared to 2006.

  • The fastest growing energy technology in the world is grid-connected solar photovoltaics (PV), with 50 percent annual increases in cumulative installed capacity in both 2006 and 2007, to an estimated 7.7 GW. This translates into 1.5 million homes with rooftop solar PV feeding into the grid worldwide.

  • Rooftop solar heat collectors provide hot water to nearly 50 million households worldwide, and space heating to a growing number of homes. Existing solar hot water/heating capacity increased by 19 percent in 2006 to reach 105 gigawatts-thermal (GWth) globally.

Alternative Energy is (very) ready for its time in the spotlight.  With the quick adoption rates that these numbers reflect, one can only wonder how long it will be until 50 or even 75% of our power could be renewable.

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