|20 September 2016|
Renewables now account for nearly a third of the total global installed power generation capacity, according to a new report by the World Energy Council.
The report shows in 2015 a record US$286 billion was invested in 154GW of new renewables capacity – far outstripping investment in conventional generation.
Christoph Frei, Secretary General, World Energy Council, said: “The success of both the development of intermittent renewables and their efficient integration in electricity systems fundamentally depends on the right market design and regulatory framework and solid regional planning to avoid bottlenecks.
“We are beyond the tipping point of grand energy transition. Implementing technically and economically sound, stable policies supported by clear carbon price signals will enable this transition and take us a step closer to meeting the climate aspirations agreed at COP21.”