Renewable industries, with solar photovoltaics being the largest

Renewable
energy is energy that is collected from renewable
resources, which are naturally replenished on a human timescale. They differ from the conventional
sources of energy like coal & petroleum on various parameters like cost,
availability, effect on the climate. Most of the renewable energy like the
solar energy, wind energy, geothermal energy and tidal energy don’t have any
sort of green house gas emission. These sources of energy, although a bit more
expensive than the conventional sources of energy have the advantage of being
environment-friendly.

 Another advantage renewable energy sources
currently hold over the conventional sources of energy is availability of
potential locations. Renewable energy resources
exist over wide geographical areas, in contrast to other
energy sources, which are concentrated in a limited number of countries. For instance,
solar energy that can be tapped from a desert is capable of generating many
megawatts of electricity.

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Renewable energy often
provides energy in four important areas: electricity
generation, air and water heating/cooling, transportation,
and rural (off-grid) energy services.
Based on REN21’s(Renewable Energy Policy Network for
the 21st Century) 2016 report, renewables contributed 19.2% to humans’ global energy consumption and
23.7% to their generation of electricity in 2014 and 2015, respectively. This
energy consumption is divided as 8.9% coming from traditional biomass,
4.2% as heat energy (modern biomass, geothermal and solar heat), 3.9%
hydro-electricity and 2.2% is electricity from wind, solar, geothermal,
and biomass

Worldwide investments in
renewable technologies amounted to more than US$286 billion in 2015, with
countries like China and the United States heavily
investing in wind, hydro, solar and biofuels.4 Globally,
there are an estimated 7.7 million jobs associated with the renewable energy
industries, with solar
photovoltaics being the largest renewable employer.5 As
of 2015 worldwide, more than half of all new electricity capacity installed was
renewable.

Rapid deployment of
renewable energy and energy
efficiency is resulting in significant energy security, climate change mitigation,
and economic benefits. At the national level, at
least 30 nations around the world already have renewable energy contributing
more than 20 percent of energy supply. National renewable energy markets are
projected to continue to grow strongly in the coming decade and beyond.

As the potential market for Renewable
sources of energy is rapidly increasing, the cost of these sources is rapidly
decreasing making them more and more available for use of the common people.

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