Installed base of renewable energy technology

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Installed base of renewable energy is growing at a very high rate.

 "The year 2015 was an extraordinary one for renewable energy. High-profile agreements were made by G7 and G20 governments to accelerate access to renewable energy and to advance energy efficiency. The United Nations General Assembly adopted a dedicated Sustainable Development Goal on Sustainable Energy for All (SDG 7). Despite a dramatic decline in global fossil fuel prices, the world saw the largest global capacity additions from renewables to date. However, continuing fossil fuel subsidies and low fossil fuel prices did slow growth in the heating and cooling sector, in particular. Precedent-setting commitments to renewable energy were made by regional, state and local governments as well as by the private sector. Global investment in renewables reached a new high, with investment in developing countries surpassing that of industrialised countries. The year culminated with the United Nations Framework Convention on Climate Change’s (UNFCCC) 21st Conference of the Parties (COP21) in Paris, where 195 countries agreed to limit global warming to well below 2 degrees Celsius. Renewables are now cost-competitive with fossil fuels in many markets and are established around the world as mainstream sources of energy. Renewable power generating capacity saw its largest increase ever. Modern renewable heat capacity also continued to rise, and renewables use expanded in the transport sector. Distributed renewable energy is advancing rapidly to close the gap between the energy haves and have-nots. "


 "In terms of renewable energy installation, by technology, wind is the most widely used renewable energy source, followed by solar, bio energy, and geothermal. China alone added approximately 30,500 MW of capacity to its wind energy program in 2015. It terms of adoption rate, solar is being widely adopted and deems to be a promising technology in the near future. In 2015, China surpassed Germany to become the largest installer of Solar Photovoltaics (PV). As of 2015, the U.S. had the largest capacity of geothermal and bio energy installation."  (Renewable Energy Policy FiT: Installed Capacity and Targets to 2020, Published on June 12, 2017;