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01 GLOBAL OVERVIEW
The year 2015 was an extraordinary one for renewable energy,
with the largest global capacity additions seen to date, although
challenges remain, particularly beyond the power sector. The year
saw several developments that all have a bearing on renewable
energy, including a dramatic decline in global fossil fuel prices;
a series of announcements regarding the lowest-ever prices for
renewable power long-term contracts; a significant increase in
attention to energy storage; and a historic climate agreement in
Paris that brought together the global community. 1
Renewables now are established around the world as mainstream
sources of energy. 2 Rapid growth, particularly in the power sector,
is driven by several factors including the improving cost-competitiveness
of renewable technologies, dedicated policy initiatives,
better access to financing, concerns about energy security and
the environment, growing demand for energy in developing and
emerging economies, and the need for access to modern energy. 3
The year 2015 was one of firsts as well as of high-profile agreements
and announcements related to renewable energy,
including:
n In their Declaration on Climate Change, the G7 countries committed
to strive “for a transformation of the energy sectors by
2050” and to “accelerate access to renewable energy in Africa
and developing countries in other regions.” 4
n Renewables were on the G20 i agenda for the first-ever G20
Energy Ministers meeting, where the high-level participants
affirmed their commitment to renewable energy and energy
efficiency. 5 The Ministers endorsed an 11-point Communiqué
that included the adoption of a toolkit for a long-term sustainable
and integrated approach to renewable energy deployment;
the Communiqué was adopted by the full G20 summit in
November. 6 Participants also agreed on a G20 Energy Access
Action Plan for sub-Saharan Africa that highlights the huge
renewable energy resources in the region and the importance
of improving energy efficiency. 7
n The United Nations (UN) General Assembly adopted 17
Sustainable Development Goals (SDGs) containing, for the
first time, a dedicated goal on sustainable energy for allii. 8 This
achievement was due in great part to the Sustainable Energy
for All (SE4All) initiativeiii, which played a strong role in the
SDG debate. Throughout 2015, SE4All continued its work to
further global efforts to increase energy access and to implement
the new SDG, working with numerous countries to
develop pathways to promote its goals. 9
n Twenty-five worldwide business networks representing more
than 6.5 million companies from over 130 countries pledged
in May to lead the global transition to a low-carbon, climateresilient
economy. 10 Late in the year, 409 investors representing
more than USD 24 trillion in assets called on governments
to provide stable, reliable and economically meaningful carbon
pricing, to strengthen regulatory support for renewables and
energy efficiency, and to develop plans to phase out fossil fuel
subsidies. 11
n A series of religious declarations released throughout the
year – including the Pope’s environmental encyclical, Laudato
Si’, as well as the Islamic, Hindu and Buddhist declarations on
climate change – called on billions of people of faith to address
climate change and to commit to a zero- or low-carbon future
through renewable energy. 12
The year’s events culminated in December at the UN Climate
Change Conference (COP21iv) in Paris, where 195 countries
agreed to limit global warming to well below 2 degrees Celsius
and a majority of countries committed to scaling up renewables
and energy efficiency through their Intended Nationally
Determined Contributions (INDCs). 13 (p See Sidebar 4 in Policy
Landscape chapter.) Although far more is needed to avoid the
worst potential effects of climate change, there was a clear commitment
from the global community to address the challenge,
and many experts emerged with a sense that there is a strong
international consensus to transition away from fossil fuels. 14
Notable commitments included a US-China Joint Presidential
Statement on Climate Change highlighting new domestic policy
commitments involving renewables and energy efficiency, and
a common vision for an ambitious global climate agreement
in Paris. 15 The European Union (EU) committed to a binding
regional target of at least 40% domestic reduction of greenhouse
gas emissions by 2030 (from a 1990 baseline), complemented
01
i The UN-supported Group of 20 includes the world’s 20 leading economies (19 individual countries plus the EU), which together account for more than 75%
of global trade. The G20 was formed in 1999 to study, review and promote high-level discussion on policy issues relating to international financial stability.
ii SDG 7: “Ensure access to affordable, reliable, sustainable and modern energy for all” by 2030. This SDG (7.2) calls for increasing substantially the share
of renewable energy in the energy mix and for doubling the global rate of improvement in energy efficiency. See http://sdgcompass.org/sdgs/sdg-7/.
iii SE4All aims to double the share of renewable energy in the global energy mix from a baseline share of 18% in 2010 to 36% in 2030. SE4All, “Tracking
Progress,” http://www.se4all.org/tracking-progress/.
iv The 21st annual session of the Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC).
RENEWABLES 2016 · GLOBAL STATUS REPORT
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