Renewable Energy Revolution: Declining Costs, Surging Capacity | Co-creation in health |

The renewable energy revolution is under way. Renewable power generation now accounts for around 50% of all new power generation capacity installed worldwide.

The combination of rapid deployment and high learning rates for technology “has produced a virtuous circle that is leading to significant cost declines and is helping fuel a renewable revolution,” according to a new global study of renewable power generation costs in 2012 produced by IRENA, the International Renewable Energy Agency, which announced it isestablishing its global headquarters in the United Arab Emirates during last week’s Abu Dhabi Sustainability Week.

Additions to global wind power generation capacity totalled 41 gigawatts (GW) in 2011, according to IRENA’s “Renewable Power Generation Costs in 2012: An Overview.” That’s in addition to 30 GW of new solar photovoltaic (PV) electricity generation capacity, 25 GW of hydro power, 6 GW of biomass, 0.5 GW of concentrated solar power (CSP), and 0.1 GW of new geothermal power capacity.

Via Lauren Moss