Renewables 2007 Global Status Report

The renewable energy market experienced exceptional growth in 2007 yet due to this rapid growth people are still not entirely convinced of its status and stability.  The Renewable Global Status Report put out by the Renewable Energy Policy Network for the 21st Century provides an astounding overview of the reality of the market touching on market trends, investments, industries, policies, and even rural renewable energy.  This report was put together by 140 researchers and collaborators from developed and developing nations worldwide.

Below are some inspiring facts from the 2007 report: 

• $100 billion dollars were invested in new renewable energy capacity, manufacturing, research and development
• $71 billion dollars was invested in renewable power and heating (excluding big hydropower) worldwide.  47% was in wind power technology and 37% was in solar PV technology.
• Renewable Generation capacity reached 240 GW worldwide
• Worldwide wind power generation capacity grew 28% to reach 95 GW of power.
• Grid-Connected Solar Photovoltaic power capacity grew 50% in both 2006 and 2007 to reach 7.7 GW.  This is due to the 1.5 million homes with roof-top solar capacity that is feeding back into the electric grid.
• Rooftop solar heat collectors grew 19% to reach 150 GW of thermal energy.  This technology provides hot water to 50 million homes worldwide and provides space heating to a growing number homes and buildings.
• production of biofuels grew 43% from 2005 to an estimated overall volume of 53 billion liters.
• The world also experienced an influx of policy mandates in 2007.  There are now existing policy targets for renewable energy in 66 countries including all 27 European Union countries, 6 Canadian provinces, and 29 US states.