and other large complexes. There also was growing interest in the use of advanced collectors for district heating systems, solar cooling, and industrial applications, although advanced systems represent a small fraction of the global market. In much of Asia, parts of Africa, and Latin America, domestic sales expanded, as did distribution channels, in response to strong market growth in certain segments. By contrast, it was a difficult year for the industry in Europe, where consolidation continued. China’s industry was troubled by overcapacity due to weak demand in 2014, but China maintained its long-term lead. Wind Power The global wind power market resumed its advance in 2014, adding a record 51 GW—the most of any renewable technology— for a year-end total of 370 GW. An estimated 1.7 GW of grid-connected capacity was added offshore for a world total exceeding 8.5 GW. Wind energy is the least-cost option for new power generating capacity in an increasing number of locations, and new markets continued to emerge in Africa, Asia, and Latin America. Asia remained the largest market for the seventh consecutive year, led by China, and overtook Europe in total capacity. The United States was the leading country for wind power generation. Wind power met more than 20% of electricity demand in several countries, including Denmark, Nicaragua, Portugal, and Spain. After years of operating in the red, most turbine makers pulled back into the black with all the top 10 companies breaking installation records. Turbine designs for use on- and offshore continued to evolve to improve wind’s economics in a wider range of wind regimes and operating conditions. Global Investment Global new investment in renewable power and fuels (not including hydropower >50 MW) was up 17% over 2013, to USD 270.2 billion. Including the unreported investments in hydropower projects larger than 50 MW, total new investment in renewable power and fuels reached at least USD 301 billion. Renewables outpaced fossil fuels for the fifth year running in terms of net investment in power capacity additions. This first increase in three years was due in part to a boom in solar power installations in China and Japan, as well as to RENEWABLE ENERGY START 2004 2013 2014 record investments in offshore wind projects in Europe. All regions of the world experienced an increase relative to 2013. Investment in developing countries was up 36% from the previous year to USD 131.3 billion. Developing country investment came the closest ever to surpassing the investment total for developed economies, which reached USD 138.9 billion in 2014, up only 3% from 2013. The most significant dollar increase occurred in China, which accounted for almost two-thirds of developing country investment in renewable power and fuels. The Netherlands and Brazil saw the larg- INVESTMENT New investment (annual) in renewable power and fuels billion USD 45 232 270 POWER Renewable Power Capacity (total, not including hydro) GW 85 560 657 Renewable Power Capacity (total, including hydro) GW 800 1578 1712 Hydropower Capacity (total) GW 715 1018 1055 Bio-power Capacity GW <36 88 93 Bio-power Generation TWh 227 396 433 Geothermal power Capacity GW 8.9 12.1 12.8 Solar PV Capacity (total) GW 2.6 138 177 Concentrating solar thermal power (total) GW 0.4 3.4 4.4 Wind power capacity (total) GW 48 319 370 HEAT Solar hot water capacity (total) GWth 86 373 406 TRANSPORT Ethanol production (total) billion litres 28.5 87.8 94 Biodiesel production(total) billion litres 2.4 26.3 29.7 POLICIES Countries with policy targets # 48 144 164 States/provinces/countries with feed-in policies # 34 106 108 States/provinces/countries with RPS/quota policies # 11 99 98 Countries with tendering/public competitive bidding # n/a 55 60 Contries with heat obligations/ mandate # n/a 19 21 States/provinces/countries wth biofuels mandate # 10 63 64 35 energetica INDIA · NOV | DEC15
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