According to a new federal report entitled International Energy Outlook 2016, renewables are the fastest growing energy source worldwide. This report was published by the U.S. Energy Information Administration.
Within the report, they detail that there will be a sharp decline in energy generation from coal which is perhaps the most harmful to the environment. In 2012, coal accounted for 40% of the power generated across the world, according to the report; this will be as low as 28% by the year 2040.
They anticipate that renewables will continue to grow at an amazing rate of 2.6% per year. These renewables are coming as a combination of solar, hydro and wind.
While this is wonderful news for the green energy movement, it is somewhat shadowed by the increase in energy consumption on a global scale. According to the report, in that same time frame, energy consumption will increase by nearly 50%.
This serves to show a need for an increase in energy efficiency. By decreasing the amount of energy we use in our day to day lives, everyone will benefit in the long term.
If you are ready to begin your energy efficient journey, sign up for a free project quote!