The REN21 Renewables 2016 Global Status Report shows 2015 was a record year – and Australia was among the standout performers in solar PV.
Renewable energy based generating capacity saw its largest increase globally last year, with an estimated 147 gigawatts added according to the report. As of early this year, 173 countries had renewable energy targets and 146 countries had support policies.
Investment in renewable power and fuels reached USD $ 286 billion in 2015, not including the substantial investment in large hydropower and in heating and cooling.
As we mentioned earlier this week, 8.1 million people are now working in the renewable energy sector
“What is truly remarkable about these results is that they were achieved at a time when fossil fuel prices were at historic lows, and renewables remained at a significant disadvantage in terms of government subsidies,” said Christine Lins, Executive Secretary of REN21.
” For every dollar spent boosting renewables, nearly four dollars were spent to maintain our dependence on fossil fuels.”
In the Pacific, Australia led the region in 2015 and was among the top 10 countries globally for newly installed solar PV. By the end of 2015, there was the equivalent of one solar panel per person installed across the country – 23.2 million solar modules.
Australia added more than 0.9 GW of solar panels last year, ranking seventh globally for new installations and ending the year with 5.1 GW
While Australia’s market has been largely residential (~16% of homes have solar power panels), the report says the commercial and large-scale sectors started to take gain more traction last year.
The report states our very low wholesale electricity prices and high retail prices are encouraging a shift to solar PV and now with less incentive to export surplus electricity into the mains grid, home energy storage is a growing market.
Overall, renewable energy made up around 14.6% of Australia’s electricity generation in 2015 (up from 13.5% in 2014), even though there was a drop in hydro power generation.
Australia gets quite a few mentions in the Renewables 2016 Global Status Report; which can be downloaded here (PDF).
