Renewables, Wind

Renewable Energy Outlook unveils economic feasibility of renewable energy

11 November 2008 – The independent Energy Watch Group published today the “Renewable Energy Outlook 2030. Energy Watch Group Global Energy Scenarios”. The report analyses cost trends and investment needs in the global energy sector and predicts a renewable energy share of up to 62 per cent in electricity generation and up to almost 30 per cent in total energy consumption by the year 2030, with wind reaching a global capacity of up to 2792 GW. The expected annual investment in the renewable energy sector is based on actual cost and investment trends and will be far below today’s global military expenditure.

Stefan Gsänger, WWEA Secretary General: “The Renewable Energy Outlook 2030 unveils a realistic path describing how wind energy and other renewable energy technologies will develop in the coming two decades. There is not reason why wind and other renewable energies should not continue their growth rates like in the past ten years – in the case of wind, the average growth rate has been 30 per cent .

The study shows that, based on pure economics, wind energy will deliver a lion’s share of the global electricity needs in the not too distant future. We congratulate the Energy Watch Group for this analysis which is much more realistic than many other reports and scenarios published so far. The Renewable Energy Outlook will be an important reference source and give guidance to decision-makers both in governments as well as in the industry.”