Wind, Solar Energy Overtaking Nuclear Powerclimate change
According to a study released by worldwatch.org, nuclear energy has been stalled globally for years. Renewable energy, by contrast, continues to expand rapidly. Renewables still have a long way to go to catch up with fossil fuel power plants, which account for roughly two thirds of world electricity production. Nuclear’s share of global power production has declined steadily from a peak of 17.6 percent in 1996 to 10.8 percent in 2013. Renewables increased their share from 18.7 percent in 2000 to 22.7 percent in 2012. While hydropower is still the leading source of renewable electricity, providing 16.5 percent of global power in 2012, wind and solar energy are the fastest growing electricity technologies worldwide. Between 2000 and 2012, wind power grew nearly 16X and solar jumped 49X. Renewable energy has also attracted far greater investments than nuclear power in recent years. According to estimates by the International Energy Agency (IEA), nuclear investments averaged US$8 billion per year between 2000 and 2013, compared with $37 billion for solar PV and $43 billion for wind.