Renewable Energy Capacity Hits a Record High

 

Fortunately, energy efficiency and sustainability practices are gaining traction across the market. Owners of real estate and businesses alike are favoring renewable energy sources and sustainable products and practices.

Energy related projects provided more than 2 million construction jobs last year alone. That is one-third of the construction workforce. With increased awareness and popularity, this sector of construction stands to see rising demand for skilled workers and an increase in energy-related projects.

2016 saw a record for continued renewable power source installation, which reached 138.5 gigawatts of capacity added globally. That amount of energy is about as much energy as the world’s 16-biggest power producing plants combined. This was reported by UN Environment, The Frankfurt School-UNEP Collaborating Centre and Bloomberg New Energy Finance.

Solar and wind power were the driving sources in renewable energy production. This growth was supported by declining costs in solar and wind power technology prices. The increase in renewable energy power in 2016 cut carbon dioxide emissions that would have roughly equaled exhaust from 211,233,570 vehicles.

This growth supports a growing need for greater investment in developing large-scale storage technology for wind and solar-power that would encourage and support mainstream adoption. The interest and demand for sustainable building practice is there. It is now time for storage mechanisms to be put in place in order to encourage further adoption of sustainable and energy producing practices.

 

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Katie Boova
Katie Boova is Marketing Manager at Watchdog Real Estate Project Managers, a real-estate consulting firm that provides owner’s representation and project management services. More about Watchdog Real Estate Project Managers as well as additional blog posts can be found here.
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