Frost & Sullivan is predicting that the global installed
capacity of renewable energy will more than double from 1,566 gigawatts (GW) in
2012 to 3,203 GW in 2025 at an average annual growth rate of 5.7 percent.
This growth will be driven primarily by developments in
renewable energy policy.
As Frost & Sullivan explains, prior to the past decade,
less than 50 countries had support policies for renewable energy, but that has
increased to more than 130. As a result of political and financial support,
investments in renewables have risen dramatically recently. In fact, the
European Union has set binding targets to source 20 percent of the bloc's total
energy consumption from renewable energy by 2020, and individual member states
have set renewable energy consumption targets ranging from 10 percent for Malta
to 49 percent for Sweden.
