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Power Technology Report, Renewable Energy Report

Renewable Energy - Thematic Research

Renewable energy in developing markets witnessed significant growth in comparison with the developed markets of North America and Europe.

For reasons of energy security and reduction in CO2 emissions, the global power sector has seen a gradual shift from conventional power-generating sources toward renewable energy sources such as wind, solar, biopower, and geothermal.

Governments worldwide are providing support measures and have committed to a certain share of renewables in the overall power mix. To help implement these measures, numerous incentives have been put in place for renewable energy development and to offer a level playing field.

  • What you need to know...
  • With the changing geopolitical scenario in the oil and gas supply markets in the Middle East, renewable energy is turning out to be a bright area in the global energy economy.
  • In the past couple of years, renewable market growth rates were higher when compared with conventional fuel market rates due to the rise in penetration of renewable energy and development of this market.
  • Renewable energy is being utilized in power generation, transport fuels, rural/off-grid power supply, and heating and cooling.

Renewable Industry Briefing

Historically, small hydropower, biomass, and biogas have been the dominant renewable technologies. However, in the past 15 years, wind and solar have become prevalent and are expected to be the leading renewable power sources during the forecast period.

Apart from small hydropower, the growth of all the other renewable technologies is expected to be significant, and wind and solar are expected to make the largest contribution to the total installed renewable energy capacity.

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