Renewable energy keeps gaining ground worldwide as a new report shows that about 135 GW of wind and solar photovoltaic installations were created in 2014. This increases global capacity to 1,712 GW, a jump of 8.5% from 2013. With the marked increase, renewable energy sources now comprise an estimated 27.7% of the world's power generating capacity.
The Renewable 2015 Global Status Report shows that solar photovoltaic is growing by leaps and bounds, with capacity increasing from 3.7 GW in 2004 to 177 GW in 2014, with wind power not far behind, growing from 48 GW to 370 GW in the same time span. The authors of the report also note that new investment in renewable power was more than double the amount invested in net fossil fuel power capacity, continuing the trend of economic growth decoupling from fossil fuels.
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