Renewable & Alternative Energy Industry Market Research

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Alternative & Renewable Energy OVERVIEW

    Analysts at BP report that non-hydroelectric renewable power consumption grew by a respectable 12.0% worldwide during 2014 (the latest year for which data is available).
     North American consumption increased by a substantial 10.0%. World hydroelectric consumption increased by 2.0% during 2014.
     North American hydroelectric consumption decreased by 1.7%, after a 0.3% increase in the U.S. during a below-average year due to droughts. Steady growth does not mean that renewables account for a large amount of the world’s energy.
     Instead, non-hydroelectric renewables as a percent of global electricity generation accounted for about 6.0% in 2014, up from 5.3% in 2013.
     Coal, natural gas and nuclear energy remain primary sources of electric generation in most parts of the world. U.S.
    electric production from renewable sources was 13.2% of total electric power in 2014, up from 12.2% in 2013 and only about 7.6% in 1970.
     In this case, “renewable” includes conventional hydroelectric and geothermal, along with solar, wind and biomass.
     (In 1970, such production was almost entirely from hydroelectric sources.) Wind power has seen rapid growth worldwide.
     Major technological advances in wind turbines (including much larger blades creating very high output per turbine and blades that suffer very little downtime and are thus more efficient), along with massive government incentives encouraging investment in wind generation, have fueled turbine installation.
     In the U.S., wind power generation grew dramatically, from 11,187 thousand megawatts in 2003 to 94,652 thousand in 2010 and approximately 107,508 thousand during 2015.
     (The 2015 figure


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