Energy Efficiency, Executive Insight, Generation, Renewable Energy

Study: 18 percent of power generation worldwide is now renewable

The World Bank and the World Energy Council found that renewable energy now constitutes 18 percent of the world’s power generation mix. According to the same research, there are one billion people in the world without access to electricity.

The report is compiled by experts from 15 agencies and is the first to monitor progress towards the three objectives of the Sustainable Energy for All initiative, launched in 2011 by the United Nations. The objectives are universal access, doubled renewables and doubled energy efficiency programs.

The report also said that 2.8 billion people use wood or other biomass to cook and heat their homes, and to bring electricity to the more than one billion people using conventional energy sources would increase global carbon dioxide emissions by less than one percent.

Results show that 20 countries in Asia and Africa account for two-thirds of those without access to electricity, and 75 percent of those use solid fuels-wood, charcoal, animal and crop waste and coal to cook or heat their homes. The improvement rate of energy efficiency, described by a compound annual growth rate of energy intensity, was -1.3 percent between 1990 and 2010.

The report says countries, international organizations and private investors must increase investments by at least $600 billion a year until 2030, including $45 billion for electricity expansion, $4.4 billion on modern cooking, $394 billion in energy efficiency and $174 billion on renewable energy.

This story was originally published by Power Engineering online. It is republished with permission.