Global renewable energy growth continues

Renewable energy sector around the world will continue to grow at rapid pace in years to come, and this should in two decades from now result in 20 million new renewable energy jobs, at least this is what Helene Pelosse, interim Director- General of the International Renewable Energy Agency (IRENA), said on a five-day conference on renewable energy, held in Abu Dhabi.

According to Pelosse the number of renewable energy jobs keep on growing on global level. In 2008, this number was 2,332,000, which is expected to reach 20,000,000 additional jobs requirements in the global renewable energy sector by 2030.

Pelosse believes that there could be 50 percent renewable energy in the energy mix by 2050 (a bit optimistic in my opinion but nonetheless possible). Solar and wind energy industry experienced the largest growths, as there were double digit growth rates for both photovoltaic and wind over the last years, and 60 percent of new capacity in Europe come from renewable energy (especially in Germany and Spain). 85 countries in the world are with policy targets and other 75 countries with feed-in tariffs.

Global renewable energy growth data shows that in period between 2004-2008, there was a fourfold increase in renewable energy investments, while total renewable energy in 2009 were impressive $162 billion. The renewable energy currently accounts to around 18 percent of the global energy consumption. This number should significantly increase in years to come because fossil fuels such as coal and oil are losing popularity because of climate change issue.

As Pelosse concluded there are three main drivers for renewable energy: economic growth, climate change and energy security. With these three supporting factors renewable energy looks likely to continue its growing trend in years to come.