GlobalData reports that the Feed-in Tariffs (FiT), quota obligations, capital grants, and subsidies. For they will be a significant factor. Especially in Europe’s renewable energy growth.
The European Union (EU) directive on renewable energy set a target for each state to increase its renewable energy share to 20% of total consumption by 2020.
Raina explains: “The National Renewable Energy Action Plan provides mandatory targets for each EU member state for the overall share of renewable sources in gross energy consumption, and is targeting a 10% share of renewables in transport by 2020.
GlobalData also acknowledges Germany is the leader with over 40 percent of their energy is green.
According to a previous report:
Germany will become the world’s leading market for annual offshore wind turbine installations in 2015. That’s with the country set to add an impressive 2,071 Megawatts (MW) this year. Moreover an almost fourfold increase from the 529 MW added in 2014. All according to research and consulting firm GlobalData.
The company’s latest report* states that global annual offshore wind installations will more than double, from 1,681 MW in 2014 to 3,903 MW in 2015, with a dip to 3,255 MW forecast for 2016.
Ankit Mathur, GlobalData’s Practice Head for Power, says that while Germany’s annual offshore installations will soar this year, UK additions will remain relatively steady, decreasing marginally from 813 MW in 2014 to 801 MW in 2015. Furthermore, the UK will slip down to third place in the rankings, as China surges into second position with 817 MW in 2015.
“The main objectives of the EEG Act, which was amended in 2004, 2009 and 2011, have been to develop a sustainable energy supply at a reduced cost, protect the climate by reducing emissions, and promote renewables.”