The findings in the 2012 GSR speak to the cumulating effect of steady growth in renewable energy markets, support policies and investment over the past years. In 2011,
Renewable sources supplied 16.7 % of global final energy consumption where the share of modern renewables increased while the share of traditional biomass slightly decline
118 countries implemented RE targets with more than half in developing countries. Investment in renewables increased 17% to a record $257 billion, despite a widening sovereign debt crisis in Europe and rapidly falling prices for renewable power equipment, Photovoltaic module prices dropped by 50% and onshore wind turbines by close to 10% bringing to price of the leading renewable power technologies closer to grid parity with fossil fuels such as coal and gas.
These are just a few of the trends found in the GSR 2012 that illustrate the significant and rapidly growing share of renewables in energy markets, industrial policy and investments, moving renewable beyond “niche” status.