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Reports shows developing countries invested more in renewable energy than richer nations for first time in 2010
The largest accidental marine oil spill in history, which happened at the Deepwater Horizon rig, poured over four million barrels of petroleum into the Gulf of Mexico last year. Killing thousands of birds and wrecking underwater habitats, the spill not only brought into question oil giant BP’s safety standards, but also the world's dependence on fossil fuels.
Less than a year later, a nuclear meltdown at the Fukushima Daiichi power plant, triggered by the massive tsunami that hit Japan’s eastern coast in March, came as yet another reminder of the world’s reliance on non-renewable energy sources (nuclear energy is generated by splitting atoms of the metal uranium).
The disaster even prompted Germany to move away from nuclear power completely, promising to support renewable energy sources and to close down all nuclear power plants by 2022.
Following these crises, environmental groups have stepped up their calls for local and national governments to invest more in renewable energy sources.
And it seems to be working. The Renewables 2011 Global Status Report, released by renewable energy policy network REN21 last week, shows that the world increased its renewable energy production in 2010, despite the economic downturn. Total investment in renewable power jumped from $160 billion in 2009 to $211 billion in 2010.
Over the past five years, solar power production has increased seven-fold worldwide, with more than 100 countries adding solar photovoltaic capacity last year, according to the annual report.
The United Nations Framework Convention on Climate Change identifies renewable energy as one way to mitigate the effects of climate change. Many say this is incumbent on developed countries that are historically responsible for 75 percent of greenhouse gas emissions. But the report shows developing countries are taking the lead.
ACCESS TO ENERGY WIDENING
“Money invested in renewable energy companies, and in utility-scale generation and biofuel projects increased to $143 billion, with developing countries surpassing developed economies for the first time,” Paris-based REN21 says on its website.
Developing countries are now home to over half the world's renewable energy power. And of the 119 countries that now have renewable policy targets, or are on their way to setting them, at least half are developing nations.
Fossil fuels account for the majority of human-made greenhouse gas emissions released into the atmosphere. At the end of 2010, CO2 concentrations were 39 percent above pre-industrial levels, according to a May report from the Intergovernmental Panel on Climate Change. It’s clear that global warming can’t be slowed without increasing renewable energy production.
“The spread of renewables to more regions and countries helps more of the world’s people gain access to energy services not only to meet their basic needs, but also to enable them to develop economically,” the REN21 paper states.
“Today, more people than ever before derive energy from renewables as capacity continues to grow, prices continue to fall and shares of global energy from renewable energy continue to increase."
Soumya Karlamangla is an AlertNet Climate intern.
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