Green energy grew at record pace in 2015, says report

Renewable energy grew at its fastest ever rate in 2015, according to the latest Renewables Global Status Report.

Renewable power-generating capacity grew by 147 gigawatts last year, mainly due to increases in wind and solar power.

Investment in renewables also reached a record level of $286 billion worldwide, while over 8 million people now work in the renewable energy sector, according to the report.

Over a third of the global investment came from China, meaning that developing countries are now investing more in renewable energy than developed countries for the first time.

After China, the US, Japan, the UK, and India were the biggest contributors to the increase in green energy.

Christine Lins of REN21, the organization who produced the report, commented: “What is truly remarkable about these results is that they were achieved at a time when fossil fuel prices were at historic lows, and renewables remained at a significant disadvantage in terms of government subsidies. For every dollar spent boosting renewables, nearly four dollars were spent to maintain our dependence on fossil fuels.”

However, REN21 credited the increase in green energy in part to government initiatives, with 173 countries now having renewable energy targets in place.

Nico Pestel has written for IZA World of Labor about the employment effects of renewable energy policies. He argues that: “Job creation and job destruction seem to cancel each other out, such that the overall net employment effect is rather limited. Neither the proponents nor the opponents of green energy policies should put forward job creation or destruction as an argument in the energy policy debate.”

The Renewables 2016 Global Status Report can be accessed here.

Related article:
Employment effects of green energy policies by Nico Pestel
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