Sustainable Energy Association, 16 June 2012 - - The 2012 edition of REN21's Renewables Global Status Report reveals the world has changed how it sources energy, says the Sustainable Energy Association of Australia (SEA).
‘The REN21 report reveals 118 countries have now implemented RE targets with more than half in developing countries,’ says SEA chief adviser, Professor Ray Wills.
According to the report, investment in renewables increased from 2010 to 2011 by 17% to a record $257 billion. In contrast investments in conventional energy sources in Europe and globally have stalled in response to a widening sovereign debt crisis in Europe resulting in many postponements and cancellations of previously committed projects.
Investments in renewable projects are even more remarkable because of the rapidly falling prices for renewable power equipment.
Photovoltaic module prices dropped by 50% and onshore wind turbines by close to 10% in 2011 bringing the price of the leading renewable power technologies closer to grid parity to traditional fossil fuels generation using coal and gas, with further falls already reported in 2012.
Global trends are well reflected in Australia - data assembled from reports from the Australian Bureau of Resources and Energy Economics’ (BREE) and the Australian PV Association (APVA) reveals that of a total of 3505 MW of new installed electricity generation in Australia in 2011 new coal delivered 14%, solar 25%, gas 29%, and wind 33%. Thus renewables added a remarkable 58% of all electricity generation capacity in Australia in 2011.
A new review of global trends in falling fossil fuel investment and growing renewable energy investment was published today on the academic website the Conversation – jointly authored by Ray Wills, Adjunct Professor at the University of Western Australia and Peter Newman, the Professor of Sustainability at Curtin University - see http://theconversation.edu.au/energy-myths-exposed-king-coal-or-king-sol....
Media contact:
SEA chief adviser Prof Ray Wills - 0430 365 607
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Professor Ray Wills, Chief Adviser, Sustainable Energy Association
Email: rwills@seaaus.com.au www.seaaus.com.au
Street: 48 Lake St Northbridge.
Postal: GPO Box 2409 PERTH WA 6000
Phone: +61 (8) 9228 1292 Mobile: +61 430 365 607
Linkedin profile au.linkedin.com/in/raywills
Comments
Use batteries for independence from energy money sharks
Provided one has the panels, connecting to the grid via a transverter is a stupid mistake.
It's much more economical to invest into batteries, and be independent of any energy money sharks.