renewable energy

A recent report published by Clean Edge Inc., a research and advisory firm specialising in the clean-tech sector, shows significant worldwide increase in the use of renewable energy in 2012.

Marking the firm’s 12th year, the report covers “tracking, forecasting, and market sizing the global solar, wind, and biofuels markets, to detailed analysis of solar PV pricing, the public markets, and venture capital investments…” This year’s report focuses on 5 key trends that will have an impact on the clean energy market in the coming years:

  1. Smart Devices and Big Data Empower Customers, Open New Chapter in Energy Efficiency
  2. Distributed Solar Financing Comes of Age
  3. Under the EV Radar, Microhybrid Technology Saves Big on Fuel Consumption
  4. In the U.S. and Overseas, Geothermal Picks up Steam
  5. Perfectly Natural: Biomimicry Makes its Mark on Clean Tech

There was a significant increase in the use of the three largest sources of renewable energy, namely wind, solar, and biofuels. However, income generated by these remained largely unchanged due to the steady fall of solar PV panel costs. According to Clean Edge founder Ron Pernick in an Interview with The Guardian, the industry “always knew each doubling of [solar PV] installation would reduce prices about 18%.” The solar sector has seen rapid development in recent years, especially after the Chinese government invested heavily into the industry. This partly explains why, in 2012, there has only been a 1% increase in global revenue for renewable energy use.

[click to continue…]