Quantcast

Growth of Global Solar and Wind Energy Continues to Outpace Other Technologies

Energy

Worldwatch Institute

Global use of solar and wind energy continued to grow significantly in 2012. Solar power consumption increased by 58 percent, to 93 terrawatt-hours (TWh), and the use of wind power increased by 18 percent, to 521 TWh.

Photo courtesy of Shutterstock

Although hydropower remains the world’s leading renewable energy, solar and wind continue to dominate investment in new renewable capacity and are quickly becoming the highest-profile renewable energy sources, write Worldwatch staff in the Institute’s latest Vital Signs Online trend.

Global solar and wind energy capacities continued to grow even though new investments in these energy sources declined during 2012. Global investment in solar energy in 2012 was $140.4 billion, an 11 percent decline from 2011, and wind investment was down 10 percent, to $80.3 billion. But due to lower costs for both technologies, total installed capacities grew sharply.

Solar photovoltaic (PV) installed capacity grew by 41 percent in 2012, reaching 100 gigawatts (GW). Over the past five years alone, installed PV capacity grew by 900 percent from 10 GW in 2007. The countries with the most installed PV capacity today are Germany (32.4 GW), Italy (16.4 GW), the U.S. (7.2 GW) and China (7.0 GW).

Europe remains dominant in solar, accounting for 76 percent of global solar power use in 2012. Germany alone accounted for 30 percent of the world’s solar power consumption, and Italy added the third most capacity of any country in 2012 (3.4 GW). Spain added the most concentrating solar thermal power capacity (950 MW) in 2012 as well. However, Italy reached the subsidy cap for its feed-in tariff (FIT) program in June 2013 while Spain recently made a retroactive change in its FIT policies, meaning growth in solar energy will likely slow in these countries in the near future.

Due to slowing global economic growth, easing demand and oversupply, there were significant net losses in the Chinese PV industry, which supplies more than half of the world market. The net losses have been exacerbated by growing trade wars between China and both the European Union (EU) and the U.S. after these regions accused Chinese companies of dumping solar panels on their markets. Meanwhile, China’s domestic demand is likely to grow. The country’s twelfth Five-Year Plan aims to reach 21 GW installed solar capacity by 2015 and 50 GW by 2020.

Total installed wind capacity edged up in 2012 by 45 GW to a total of 284 GW, an 18.9 percent increase from 2011. In keeping with recent years, the majority of new installed capacity was concentrated in China and the U.S., which reached total installed capacities of 75.3 GW and 60 GW, respectively.

The U.S. was the world’s top wind market in 2012. Overall capacity increased 28 percent as the country added 13.1 GW, double the amount it added in 2011. Increased domestic manufacturing of wind turbine parts, improved technological efficiency and lower costs helped spur this increase, but the greatest catalyst was the threat of expiration of the federal Production Tax Credit (PTC)—which provides tax credits for kilowatt-hours produced by wind turbines—at the end of 2012.

A slowdown was originally expected in 2013, but the U.S. Congress extended the PTC until the end of the year, which bodes well for many U.S. and European wind turbine and parts manufacturers that benefit from it.

The EU remained a dominant region for wind power, as it passed an important milestone by installing 11.9 GW of new capacity to reach 106 GW, representing 37.5 percent of the world’s market. Currently, wind accounts for 11.4 percent of the EU’s total installed generation capacity. Germany and Spain remained Europe’s largest wind markets, increasing their total installed capacity to 31.3 GW and 22.8 GW, respectively. The United Kingdom was third in new installations in 2012, at 1.9 GW, followed by Italy with 1.3 GW.

“Although policy uncertainties and changes will likely challenge the growth of solar and wind in the future, these technologies are nonetheless well poised to grow,” said Matt Lucky, report co-author and sustainable energy lead researcher at Worldwatch. “Declining solar technology prices, while challenging for current manufacturers, are helping solar to reach near grid-parity in many markets. With the decreasing cost of operating and maintaining wind farms, wind power is already cost competitive with conventional power energy sources in many markets.”

Further highlights from the new Worldwatch Institute report examining the global market for solar and wind energy production include:

  • In 2012, installed capacity for concentrating solar thermal power (CSP) reached 2.55 GW, with 970 megawatts (MW) alone added in 2012.
  • The Asia-Pacific region now accounts for 17 percent of global solar use, leaving it behind only Europe.
  •  Asia’s 15.5 GW of new installed wind capacity, the highest of any region in 2012, ensured that it remains on the heels of the EU.
  •  Political instability continued to slow growth in Africa and the Middle East, but installed capacity grew by 9.3 percent in 2012 compared with 2011’s rate of 2.6 percent.

Visit EcoWatch’s RENEWABLES page for more related news on this topic.

——–

EcoWatch Daily Newsletter

Scanning electron micrograph of Yersinia pestis, which causes bubonic plague, on proventricular spines of a Xenopsylla cheopis flea. NIAID / Flickr / CC BY 2.0

A middle-aged married couple in China was diagnosed with pneumonic plague, a highly infectious disease similar to bubonic plague, which ravaged Europe in the middle ages, as CNN reported.

Read More Show Less
Milk made from almonds, oats and coconut are among the healthiest alternatives to cow's milk. triocean / iStock / Getty Images Plus

Dairy aisles have exploded with milk and milk alternative options over the past few years, and choosing the healthiest milk isn't just about the fat content.

Whether you're looking beyond cow's milk for health reasons or dietary preferences or simply want to experiment with different options, you may wonder which type of milk is healthiest for you.

Read More Show Less
Sponsored
Greta Thunberg stands aboard the catamaran La Vagabonde as she sets sail to Europe in Hampton, Virginia, on Nov. 13. NICHOLAS KAMM / AFP via Getty Images

Greta Thunberg, the teenage climate activist whose weekly school strikes have spurred global demonstrations, has cut short her tour of the Americas and set sail for Europe to attend COP25 in Madrid next month, as The New York Times reported.

Read More Show Less
The Lake Delhi Dam in Iowa failed in 2010. VCU Capital News Service / Josh deBerge / FEMA

At least 1,688 dams across the U.S. are in such a hazardous condition that, if they fail, could force life-threatening floods on nearby homes, businesses, infrastructure or entire communities, according to an in-depth analysis of public records conducted by the the Associated Press.

Read More Show Less

By Sabrina Kessler

Far-reaching allegations about how a climate-sinning American multinational could shamelessly lie to the public about its wrongdoing mobilized a small group of New York students on a cold November morning. They stood in front of New York's Supreme Court last week to follow the unprecedented lawsuit against ExxonMobil.

Read More Show Less
Sponsored

By Alex Robinson

Leah Garcés used to hate poultry farmers.

The animal rights activist, who opposes factory farming, had an adversarial relationship with chicken farmers until around five years ago, when she sat down to listen to one. She met a poultry farmer called Craig Watts in rural North Carolina and learned that the problems stemming from factory farming extended beyond animal cruelty.

Read More Show Less
People navigate snow-covered sidewalks in the Humboldt Park neighborhood on Nov. 11 in Chicago. Scott Olson / Getty Images

Temperatures plunged rapidly across the U.S. this week and around 70 percent of the population is expected to experience temperatures around freezing Wednesday.

Read More Show Less
A general view of the flooded St. Mark's Square after an exceptional overnight "Alta Acqua" high tide water level, on Nov. 13 in Venice. MARCO BERTORELLO / AFP / Getty Images

Two people have died as Venice has been inundated by the worst flooding it has seen in more than 50 years, The Guardian reported Wednesday.

Read More Show Less