Global Renewable Energy Industry - Statistics & Facts

Renewable energy is characterized by the use of resources that can be naturally renewed within a human lifetime. Sources of renewable energy include sunlight, wind, wood residues, waves, and geothermal heat. The use of renewables has grown due to several factors such as concerns about the environmental impacts of conventional fossil fuel sources, growing populations and urbanization, as well as the decreasing cost of renewable technologies. Desire for energy security has also spurred the use of renewable energy and distributed energy generation within the electric power distribution system. However, a system that relies wholly on decentralized energy may not yet be possible in most places due to technological shortcomings and antiquated infrastructure. Using large-scale renewable projects for rural areas or developing countries can also benefit these regions, as electricity in these areas is typically of poor quality, inefficiently used, and unreliably supplied. Using renewable energy can improve quality of life and economic production, and benefit the environment.

In 2005, only a few companies outside of Europe and North America had implemented policies and targets to increase renewable energy capacity, but a over a decade later, the vast majority of countries around the globe have established their own targets. China has recently become a world leader in renewable energy and invests heavily into renewable energy technologies. China and the United States are the leaders in the consumption of renewable energies and have both experienced a steady increase in their consumption of renewables. In 2018, the United States was ranked second in the world based on renewable energy consumption, totaling almost 104 million metric tons of oil equivalent. Electricity utilities are increasingly noting the importance of providing renewable energy and many have begun to invest in these technologiesand even setting specific renewable goals.

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Global renewable energy industry

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Renewable energy consumption

Renewable energy generation

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