While many companies continue to mull over the benefits of investing in renewable energy, a World Energy Council study shows its steady and continued growth worldwide.
According to a Clean Technica article about the study, more than 30% of existing power installations across the world are sourced by renewable energy, which means 23% of the world's production of electricity now comes from renewable sources. These numbers represent what the article calls a “tipping point" for transition to renewables.
Also from the article:
Specifically, over the last decade, wind and solar PV have seen a meteoric rise, representing 23% and 51% respectively in terms of average annual growth in installed capacity…
In 2015, a record $286 billion was invested into 154 GW of new renewable energy capacity—of which wind and solar PV accounted for 76% together.
Contributing to these impressive increases is the fact that the amount of new renewable energy capacity exceeded the amount of new conventional generation capacity by quite a bit. Organizations across the world are moving to renewable energy in record numbers, fueled by benefits such as lower energy costs and a positive reflection on their brand.
Related links:
Solar battery storage could increase savings for over 25% of commercial utility customers
Forecast says there may never be a better time to invest in commercial solar
