Abstract:

Renewable energy continued to grow in 2014 in parallel with global energy consumption and falling oil prices. Despite rising energy use, global CO2 emissions associated with energy consumption remained stable over the course of the year while the global economy grew. The landmark “decoupling” of economic and CO2 growth is due in large measure to China's increased use of renewable resources, and efforts by countries in the OECD to promote renewable energy and energy efficiency. This is particularly encouraging in view of COP21 in Paris, where countries will announce and/or confirm actions to mitigate climate change, setting the stage for future investment in renewables and energy efficiency. This report clearly documents advancements in the uptake of renewables, it also demonstrates that there remains untapped potential particularly in the heating and cooling and transport sectors. Nevertheless with the implementation of increasingly ambitious targets and innovative policies, renewables can continue to surpass expectations and create a clean energy future.