Solar Power, Wind Power & Renewable Energy Industry Market Research

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Solar Power, Wind Power & Renewable Energy OVERVIEW

       Analysts at BP report that non-hydroelectric renewable power consumption grew by a respectable 17.0% worldwide during 2017 (the latest year for which data is available).
     North American consumption increased by a substantial 13.5%.
     World hydroelectric consumption increased by 0.9% during 2017.
     North American hydroelectric consumption decreased by 6.7%.
     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 an 8.4% share in 2017, up from 7.4% in 2016.
     Coal and natural gas (and to a lesser extent, nuclear energy) remain the primary sources of non-renewable electric generation in most of the world.
    electric production from renewable sources was 17.1% of total electric power in 2017, up from 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.
     Analysts at BP estimated total wind generation capacity worldwide at 514,798 megawatts in 2017.
    The Global Wind Energy Council forecast it to climb


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