Renewable energies are progressing quickly with the fall in costs

The share of renewable energy sources (RES) within the global power generation mix has been growing quickly since the end of the 2000’s. Thanks to strong cost reductions over recent years, developing countries (South Asia and Latin America, and South Africa) are able to take over from most advanced countries on expanding renewable energy sources.
Thanks to massive investments in hydropower, wind and solar, the share of RES within China’s power mix is growing rapidly.
RES also gaining market share in the USA and Australia where cost reduction combined with availability of land is allowing deployment of large scale projects quickly and in an economically-efficient manner.
The favourable hydraulic conditions in Latin American countries in 2016 has induced an increase of the hydroelectricity production that mechanically increased the share of renewable energies.
Further to eight years of rapid expansion between 2006 and 2014, the penetration of RES in the European Union power mix has been increasing more slowly since then.