Renewable energy is not on the rise, it is on the fast track. In 2014, worldwide investment in renewable energy was $270.2 billion- as seen in the graph below, a 17% increase from the previous year:
solar investment: [($149.6 billion)/($270.2 billion)] x 100 = 55 % of total investment
wind investment: [($99.5 billion)/($270.2 billion)] x 100 = 36 % of total investment
WInd and solar are leaving every other category of renewable energy in the dust as this past year they made up 91% of investments. There is progress in that renewable energy was up from 8.5% in 2013 to 9.1% of total world energy generation, in 2014. But as great as the progress is, this article, makes it clear that renewable energy has nothing on fossil energy.
“The study notes that the International Energy Agency has outlined a “450 scenario” in which the world limits carbon dioxide concentrations in the atmosphere to 450 parts per million ” and being able to stay below 2 degrees Celsius of warming, but even with the current trends, there isn’t much hope that we will be able to put off crossing over the 450 threshold.
It’s going to take a lot more investing in renewable resources and policy implementations in order for us to prevent the world from heating up 2 degrees Celsius.