Of perhaps even more significance was that in both years more money was invested in
new renewable power capacity than in new fossil fuel capacity, indicating a tipping point has been reached.
«Globally, wind power accounted for about 39 %
of renewable power capacity added in 2012, followed by hydropower and solar PV, each accounting for approximately 26 %.
Total Installed Capacity Added to the Ontario Grid from 2008 - 2014 was 12,731 MW of
which Renewable Power Capacity was 6298MW at a cost of $ 18.2 Billion.
Consequently,
if renewable power capacity is calculated based on the annual averages of solar and wind energy production and in tune with the average power demand, there would be huge electricity shortages for most of the time.
According to a new study published by UN Environment, the Frankfurt School - UNEP Collaborating Centre and Bloomberg New Energy Finance, the installation of
renewable power capacity hit a record high last year, adding 138.5 gigawatts to the global power capacity, the approximate equivalent of 16 of the world's largest existing power producing facilities combined.
While spending
on renewable power capacity was flat between 2011 and 2015, electricity generation from the new capacity rose by one third, reflecting the steep cost declines in wind turbines and solar PV.
News about the rate at which
new renewable power capacity is being added to grids around the world has been overshadowed by a remarkable trend that could revolutionize the renewables sector.
These policy reforms, as well as India's commitment to the Paris Agreement on climate change, have all contributed to ambitious plans to build 175 gigawatts
of renewable power capacity, much of it solar, by 2022.
In 2015, India announced an ambitious goal to increase
its renewable power capacity fivefold in seven years.
While Steve Stoft is correct that RPS will likely not create any greenhouse gas emissions reductions beyond those imposed by a future federal cap, a federal renewable energy program will, if properly designed, create more
renewable power capacity, which will have benefits beyond contributing to lowering our GHG emissions.
The investment in
renewable power capacity in 2015 generates more than enough to cover global electricity demand growth.
For a first overlay, let's assume that those states with high potential to add
renewable power capacity can lower their risk of becoming «losers:» by supporting more wind farms (as do Texas and Pennsylvania for example); or, by better managing hydroelectric power resources (Washington and New York for example); or, by supporting thermal - solar and Solar photo - voltaic systems (Nevada and Arizona for example).
With all due respect, Rod, I see the ongoing transition to clean renewable energy sources through paying very close attention to what is actually going on in the real world, including for example the fact that for the last two years, in both the United States and Europe, more
renewable power capacity was added than coal, gas and nuclear combined.