October 12, 2016
The World Energy Council, a United Nations-accredited global energy consortium, released its 2016 World Energy Resources Report on October 12. Since its inception in 2010, the report has shown a global trend toward a more diversified global energy portfolio. The report provides a comparative analysis of global primary energy sources over the last fifteen years.
According to the report, wind and solar energy have increased their share of the global energy portfolio by 0.81 percent and 0.39 percent, respectively; and although oil is still recognized as the primary energy source, its contribution to the global energy portfolio has declined 0.55 percent since 2010.
The report also identifies challenges for future growth of the renewable energy sector. For example, the unstable supply of rare earth elements, which are key components in clean energy technology such as solar panels and electric cars, is listed as a potential limiting factor to growth.
The World Energy Resources report was released just after the official ratification of the international Paris Climate Agreement. The report states that progress toward a more renewable-dependent global energy portfolio is too slow to meet emissions targets within the Paris Agreement, and that public acceptance of renewable energy sources remains a challenge.
Sources: United Nations, World Energy Council