The market for renewable energy technologies has continued to grow. Climate change concerns and increasing in green jobs, coupled with high oil prices, peak oil, oil wars, oil spills, promotion of electric vehicles and renewable electricity, nuclear disasters and increasing government support, are driving increasing renewable energy legislation, incentives and commercialization.[10] New government spending, regulation and policies helped the industry weather the 2009 economic crisis better than many other sectors.[24][197]
Globally, the long-term technical potential of wind energy is believed to be five times total current global energy production, or 40 times current electricity demand, assuming all practical barriers needed were overcome. This would require wind turbines to be installed over large areas, particularly in areas of higher wind resources, such as offshore. As offshore wind speeds average ~90% greater than that of land, so offshore resources can contribute substantially more energy than land stationed turbines.[44] In 2014 global wind generation was 706 terawatt-hours or 3% of the worlds total electricity.[45]
Renewable energy is derived from natural processes that are replenished constantly. In its various forms, it derives directly from the sun, or from heat generated deep within the earth. Included in the definition is electricity and heat generated from solar, wind, ocean, hydropower, biomass, geothermal resources, and biofuels and hydrogen derived from renewable resources.
A solar cell, or photovoltaic cell (PV), is a device that converts light into electric current using the photovoltaic effect. The first solar cell was constructed by Charles Fritts in the 1880s.[5] The German industrialist Ernst Werner von Siemens was among those who recognized the importance of this discovery.[6] In 1931, the German engineer Bruno Lange developed a photo cell using silver selenide in place of copper oxide,[7] although the prototype selenium cells converted less than 1% of incident light into electricity. Following the work of Russell Ohl in the 1940s, researchers Gerald Pearson, Calvin Fuller and Daryl Chapin created the silicon solar cell in 1954.[8] These early solar cells cost 286 USD/watt and reached efficiencies of 4.5–6%.[9]
Even if you can’t directly purchase and install a solar system because you rent your home, have inadequate solar resources, or lack financing, you may still benefit from switching to solar electricity, and there numerous business models that make solar easier, cheaper, and more accessible. Options such as community or shared solar programs, solar leases, and power-purchase agreements allow millions of households to take advantage of solar energy. Learn about the various ways you can go solar.
Shi Zhengrong has said that, as of 2012, unsubsidised solar power is already competitive with fossil fuels in India, Hawaii, Italy and Spain. He said "We are at a tipping point. No longer are renewable power sources like solar and wind a luxury of the rich. They are now starting to compete in the real world without subsidies". "Solar power will be able to compete without subsidies against conventional power sources in half the world by 2015".[75]
Climate change concerns coupled with high oil prices and increasing government support are driving increasing rates of investment in the sustainable energy industries, according to a trend analysis from the United Nations Environment Programme. According to UNEP, global investment in sustainable energy in 2007 was higher than previous levels, with $148 billion of new money raised in 2007, an increase of 60% over 2006. Total financial transactions in sustainable energy, including acquisition activity, was $204 billion.[64]

With advanced technology being developed, cellulosic biomass, such as trees and grasses, are also used as feedstocks for ethanol production. Ethanol can be used as a fuel for vehicles in its pure form, but it is usually used as a gasoline additive to increase octane and improve vehicle emissions. Bioethanol is widely used in the United States and in Brazil. The energy costs for producing bio-ethanol are almost equal to, the energy yields from bio-ethanol. However, according to the European Environment Agency, biofuels do not address global warming concerns.[75] Biodiesel is made from vegetable oils, animal fats or recycled greases. It can be used as a fuel for vehicles in its pure form, or more commonly as a diesel additive to reduce levels of particulates, carbon monoxide, and hydrocarbons from diesel-powered vehicles. Biodiesel is produced from oils or fats using transesterification and is the most common biofuel in Europe. Biofuels provided 2.7% of the world's transport fuel in 2010.[76]
Although not permitted under the US National Electric Code, it is technically possible to have a “plug and play” PV microinverter. A recent review article found that careful system design would enable such systems to meet all technical, though not all safety requirements.[112] There are several companies selling plug and play solar systems available on the web, but there is a concern that if people install their own it will reduce the enormous employment advantage solar has over fossil fuels.[113]
Manufacturers often claim that their vertical axis turbine is better at extracting power from low speed winds. Unfortunately the laws of physics get in the way here: There is very little power in low speed winds. The blade of a vertical or horizontal type turbine is equally good at extracting that power, though with the vertical type the blades move at an angle to the wind where they do not extract energy for part of every rotation, adding drag and making a vertical type turbine just a little less efficient than a similar sized horizontal one. There is no advantage when it comes to low winds.

Another economic measure, closely related to the energy payback time, is the energy returned on energy invested (EROEI) or energy return on investment (EROI),[131] which is the ratio of electricity generated divided by the energy required to build and maintain the equipment. (This is not the same as the economic return on investment (ROI), which varies according to local energy prices, subsidies available and metering techniques.) With expected lifetimes of 30 years,[132] the EROEI of PV systems are in the range of 10 to 30, thus generating enough energy over their lifetimes to reproduce themselves many times (6–31 reproductions) depending on what type of material, balance of system (BOS), and the geographic location of the system.[133]

The New Zealand Parliamentary Commissioner for the Environment found that the solar PV would have little impact on the country's greenhouse gas emissions. The country already generates 80 percent of its electricity from renewable resources (primarily hydroelectricity and geothermal) and national electricity usage peaks on winter evenings whereas solar generation peaks on summer afternoons, meaning a large uptake of solar PV would end up displacing other renewable generators before fossil-fueled power plants.[127]
United Nations' Secretary-General Ban Ki-moon has said that renewable energy has the ability to lift the poorest nations to new levels of prosperity.[14] In October 2011, he "announced the creation of a high-level group to drum up support for energy access, energy efficiency and greater use of renewable energy. The group is to be co-chaired by Kandeh Yumkella, the chair of UN Energy and director general of the UN Industrial Development Organisation, and Charles Holliday, chairman of Bank of America".[147]
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The International Energy Agency projected in 2014 that under its "high renewables" scenario, by 2050, solar photovoltaics and concentrated solar power would contribute about 16 and 11 percent, respectively, of the worldwide electricity consumption, and solar would be the world's largest source of electricity. Most solar installations would be in China and India.[2] In 2017, solar power provided 1.7% of total worldwide electricity production, growing at 35% per annum.[3]