The annual Global Status Report provides an overview of the renewable energy market, industry, investment and policy developments worldwide.

The report finds that renewable energy continued to grow in 2014 against the backdrop of increasing global energy consumption, particularly in developing countries, and a dramatic decline in oil prices during the second half of the year. Despite rising energy use, for the first time in four decades, global carbon emissions associated with energy consumption remained stable in 2014 while the global economy grew; this stabilisation has been attributed to increased penetration of renewable energy and to improvements in energy efficiency.

Renewables represented approximately 59 per cent of net additions to global power capacity in 2014, with significant growth in all regions. There was more renewables capacity added than coal and gas combined.

The report argues that heating and cooling had slow growth but there is vast potential for energy transition. In the transport sector, the primary focus of policies, markets, and industries has been on liquid biofuels. The share of renewables in transportation remains small.

[Adapted from source]