New Renewable Energy Production Now Exceeds New Energy Produced From Coal

Renewable energy production is growing and won’t be considered alternative much longer. The International Energy Agency (IEA) announced that renewable energy sources produced from solar and wind farms is driving over 50% of all new energy production.

The IEA has expressed that new energy production from renewable sources has increased 15% over 2014 levels. This means global production from renewable sources now exceeds coal! For context, 500,000 solar panels were installed per day (in 2015) across the globe. That’s 182,000,000 new solar panels!

“We are witnessing a transformation of global power markets led by renewables and, as is the case with other fields, the center of gravity for renewable growth is moving to emerging markets,” – Dr. Fatih Birol, IEA Executive Director.

Who & What is Driving Renewable Energy Growth

China has remained the hands-down leader in renewable energy production.

Top-down leadership views this form of energy as a strategic means to develop under-served regions of the nation while also maintaining independence from foreign influence. Decreasing costs have helped to speed this process.

“In China in 2015, two wind turbines were installed every hour.”

Many nations also view renewable energy as a clean means to address the air quality that plagues their people.

Exotic financing solutions for homeowners have allowed a large segment of US consumers to install solar power in their homes; however, political infighting between parties and a powerful coal lobby have helped to slow larger national progress.

Renewables Gaining Momentum

Most analysts see 2015 as the next stage for solar and wind power. It marks the first time the planet has added more power from renewables than from fossil fuels. Fossil fuels still represent the lion’s share of global energy production; however, the winds of change are starting to blow stronger.

There are pockets of the world that have not bought into the benefits from renewable energy. As those nations get on board, the technology continues to improve, and costs continue to drop, renewable energy will continue to grow.