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Renewable energy hit record high in 2014 – report

TckTckTck • June 18, 2015

Renewable energy growth soared to record levels in 2014, with over one-fifth of global electricity now supplied from clean energy sources, according to a new report from REN21. Increasing by 8.5% last year, renewables are well on their way to becoming the world’s top source of electricity in 15 years if countries stick to plans currently on the table. Greater numbers of renewable energy targets worldwide and higher investments are giving the sector a massive boost. Christine Lins, Executive Secretary, REN21 said:

“Creating a level playing field would strengthen the development and use of energy efficiency and renewable energy technologies. Removing fossil-fuel and nuclear subsidies globally would make it evident that renewables are the cheapest energy option.”

In Europe, for example, renewables provided 26% of power in 2014 – more than nuclear for the first time – and the bloc is on track to meet its 2020 target of 20 per cent renewable energy, according to the European Commission.

Meanwhile, countries from the US to China are putting money into renewable energy, with developing countries now investing nearly as much as developed ones.

This is bringing costs down and allowing them to reap multiple benefits, including home grown jobs, cleaner air, energy security and safer investments.

Laggards like Australia whose government is still peddling long-disproven myths about renewable energy are missing out.

The benefits would be even greater if the more than US $550 billion in annual subsidies for fossil fuel and nuclear energy were removed.

With the call for an end to such subsidies increasing in volume, it is only a matter of time before a 100 per cent renewable energy age is here.

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