Photo: The Tao of Investing in the Renewable Energy Market: Practice Patience, Not Panic, Says JinMing Liu
But — wind and solar provide only 1% of 2015 world energy
Guest essay by Larry Hamlin
The 2017 edition of the REN21 Renewables Global Status Report (GSR) has been released providing a status assessment of global renewable energy use with energy consumption data reflected through 2015.
The report presents the following breakdown of total 2015 world energy consumption provided by fossil, nuclear, hydro, geothermal, biomass and other renewable energy resources.
The category “traditional biomass” (9.1 percent of global energy) reflects the global twigs, leaves and dung fuel sources use while the category “Modern renewables” (10.2 percent of global energy) reflects wind, solar, geothermal and biomass from mostly government crop subsidized energy programs.
Investment data is provided for renewables showing that since 2006 nearly $2.5 trillion has been funneled into government mandated renewable energy programs globally.
Despite this massive global government mandated driven investment in “Modern renewables” the so called “traditional renewables” (twigs, leaves and dung) continue to provide nearly as much global energy as renewables receiving lavish climate alarmist politically directed government funding.
Most significant is the fact that the climate alarmism poster child renewables of wind and solar which are going to “save the world” provided only about 1% of year 2015 global energy consumption (1.6% less geothermal and biomass) which is absolutely pathetic given the massive trillions of dollars in government mandated investment in these technologies that climate alarmists demanded.
What an absolutely monumental waste of global monetary resources that could have done so much to benefit the real global problems of massive poverty, poor health care and inadequate education instead of enriching the pockets of arrogant renewable energy billionaires.