Know the dominant renewable energy in future

Urbanization, population growth, energy security concerns and strong economic development led to the production of rare earth can grow around the world, according to Frost & Sullivan. A new report from market research firm Frost & Sullivan predicts the global renewable energy capacity will more than double, from 15.66 million kilowatts in 2012 to 32.03 million kilowatts, in 2025 the average annual growth rate of 5.7%.

Global production capacity of hydropower rise in 2012, up from 10.85 million kilowatts to 14.98 million kilowatts by 2025, China, Turkey, Brazil, Vietnam, India and Russia strongly contribute to growth. In the wind power market, offshore wind power will see lower than expected growth of political support weakened, forecast in Europe, Frost & Sullivan's. With small wind turbines to open up new application areas, global wind power capacity in 2012 from 2.79 million kilowatts levels reached 8.14 million kilowatts, 2025.

In addition, solar photovoltaic technology is expected to account for 33.4% of the total renewable energy capacity addition during the 2012-2025's. Followed by 32.7% in the wind, leading to 25.3% hydropower. Other renewable energy technologies will represent the remaining 8.6% increase in production capacity.

In its annual Renewable Energy Outlook 2014, Frost & Sullivan says, in a significant renewable energy policy developments in the past decade. Previously, less than 50 countries worldwide support policies for renewable energy, this figure is currently more than 130.

As a result of political and financial support, investment in renewable energy has risen sharply, the report found. The EU also set binding targets by 2020, therefore, the Member States have set up renewable energy consumption goal, from 10% in Malta to 49% in Sweden to 20% will come from renewable energy of the total energy consumption of the Group.

However, Frost & Sullivan says, in many parts of the world economic difficulties affected the prospects for renewable energy. In many of the western world, the weak economic environment has affected the support plan, which will continue to be the lifeblood of many renewable energy installations, until the realization of grid parity.

It is little wonder that renewable energy installations have seen a gradual shift in market power to emerging economies. In consideration of urbanization, renewable energy production, such as Asia, Latin America, Middle East and Africa are increasingly promoting population growth, energy security, as well as strong economic growth, the region can grow.

The cost of renewable energy, due to the decline in technological innovation and achieve economies of scale through large-scale deployment of these technologies have been adopted in developing countries, the report found. In fact, the global solar power capacity is due from 937,000 kilowatts, in 2012 but grew to 6.684 million kilowatts by 2025, while the solar PV is experiencing a boom, massive price declines have greatly weakened the concentrating solar power market growth prospects.