RENEWABLE ENERGY POLICY NETWORK FOR THE 21st CENTURY REN21 is the global renewable energy policy multi-stakeholder network that connects a wide range of key actors. By the end of 2016 more than 50 countries had committed to phasing out fossil fuel subsidies, and some reforms have occurred, but not enough. This first IEA Global Energy and CO2 Status Report provides a snapshot of recent global trends and developments across fuels, renewable sources, and energy efficiency and carbon emissions in 2017. Although global investment in new renewable power and fuel capacity was roughly double that in fossil fuels, investments in new renewable energy installations were down 23% compared to 2015. This year edition reveals a global energy transition well underway, with record new additions of installed renewable energy capacity, rapidly falling costs, and the decoupling of economic growth and energy-related carbon dioxide (CO2) emissions.In their Press Release, its pointed out that additions in installed renewable power capacity set new records in 2016, with 161 gigawatts (GW) installed, increasing total global capacity by almost 9% over 2015, to nearly 2,017 GW. Winners of two recent auctions for offshore wind in Germany have done so relying only on the wholesale price of power without the need for government support, demonstrating that renewables can be the least cost option.The inherent need for “baseload” is a myth.
REN21 Renewables 2017 Global Status Report (GSR) is the most comprehensive annual overview of the state of renewable energy. Solar PV accounted for around 47% of the capacity added, followed by wind power at 34% and hydropower at 15.5%.Renewables are becoming the least cost option. The single most important thing we could do to reduce CO2 emissions quickly and cost-effectively, is phase-out coal and speed up investments in energy efficiency and renewables. REN21’s goal is to facilitate knowledge exchange, policy development and joint action towards a rapid This is well below equivalent costs for fossil fuel and nuclear generating capacity in each of these countries. In 2016, Denmark and Germany, for example, successfully managed peaks of renewables electricity of 140% and 86.3%, respectively.Global energy-related CO2 emissions from fossil fuels and industry remained stable for a third year in a row despite a 3% growth in the global economy and an increased demand for energy. Despite a significant expansion in the sales of electric vehicles, primarily due to the declining cost of battery technology, much more needs to be done to ensure sufficient infrastructure is in place and that they are powered by renewable electricity. For every USD 1 spent on renewables, governments spent USD 4 perpetuating our dependence on fossil fuels.Christine Lins, Executive Secretary of REN21, explains: “The world is in a race against time. Topics. The 2017 Edition of the REN21 Renewables Global Status Report reveals a global energy transition well underway, with record new additions of installed renewable energy capacity, rapidly falling costs, and the decoupling of economic growth and energy-related carbon dioxide (CO2) emissions.
Globally, subsidies for fossil fuels and nuclear power continue to dramatically exceed those for renewable technologies.
This can be attributed primarily to the decline of coal, but also to the growth in renewable energy capacity and to improvements in energy efficiency.Innovations and breakthroughs in storage technology will increasingly provide additional flexibility to the power system.
Among developing and emerging market countries, renewable energy investment fell 30%, to USD 116.6 billion, while that of developed countries fell 14% to USD 125 billion.
REN21 Renewables 2017 Global Status Report (GSR) is the most comprehensive annual overview of the state of renewable energy. The 2017 edition of the REN21 Renewables Global Status Report (GSR) reveals a global energy transition well under way, with record new additions of installed renewable energy capacity, rapidly falling costs, particularly for solar PV and wind power, and the decoupling of economic growth and energy-related carbon dioxide emissions for the third year running.