Renewables now fastest growing energy source
“Without an urgent and radical change of policy direction, the world will lock itself into an insecure, inefficient and high-carbon energy system,” Van der Hoeven said. “Renewables already play a central role in fostering sustainability and energy security, and their significance will only grow in the coming decades.”
The book’s executive summary said that hydro power is still the major source of renewable electricity (83.8% of RE generation, corresponding to about 16% of total generation in 2009) and will continue to be an important technology for years to come.
“The other newer RE electricity technologies have also grown rapidly, by an impressive 73.6% between 2005 and 2009, a compound average growth rate (CAGR) of 14.8%,” the summary added. “Wind has grown most rapidly in absolute terms and has overtaken bioenergy.”
The summary also said low–carbon energy technologies can deliver the intended policy benefits of improved energy security, greenhouse gas reductions and other environmental benefits, as well as economic development opportunities.
It added the market expansion of RE technologies has been accompanied by cost reductions in critical technologies, such as wind turbines and solar energy photovoltaic, and such trends are set to continue.
While some of the book’s conclusions will already be known to those attending the OFFSHORE 2011 conference, which is hosted by the European Wind Energy Association, they will no doubt back up a growing confidence that wind power is increasingly a key player in this century’s energy portfolio.