The massive growth experienced by the renewable energy sector, and the wind power and solar power industries in particular, point to a critical shift in the way the world is obtaining its energy.
As our energy needs are unlikely to decrease as the world’s population increases, finding and developing renewable, clean sources of energy is a crucial task.
The quantity of renewable energy sources in the U.S. has been steadily on the rise for the past 15 years, experiencing exponential growth in 2012, according to a new report from Colorado-based Renewable Choice Energy.
The report states that total US wind power capacity has increased from a single gigawatt in 1998 to about 65 GW last year. At the same time, traditional sources of U.S. electricity production, including coal-fired power plants, have been in decline.
The report, titled “How Renewables are Winning,” further says U.S. renewable energy capacity doubled between 2009 and 2012, becoming one of the leading sources of electricity generation in the first six months of this year. The report attributes this growth is due to falling renewable technology prices, market investment, voluntary purchasers of renewable energy credits, compliance markets and tax incentives.
“What this report demonstrates is what those of us in the industry have long known – that the future of U.S. energy production lies in renewables,” comments Quayle Hodek, CEO of Renewable Choice Energy. “Increasingly, companies are turning to sources such as wind and solar power to drive their energy strategy with excellent results.”
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