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REN21 10 Years Report

20 renewables when they are used in combination with low-cost thermal energy storage to generate electricity when there is no sun. Hydropower capacity additions in the five-year period end- 2008 to 2013 were significantly greater than during the earlier part of the decade. Hydropower now has a global installed capacity of around approximately 1,000  GW by 2013 and, is currently the largest renewable power generation source. At good sites it provides the cheapest electricity of any gen- eration technology. Many biomass power generation tech- nologies are mature and biomass is a competitive power generation option wherever low-cost agricultural or forestry waste is available. In addition, new technologies are emerg- ing that show significant potential for further cost reduction. Distributed renewable technologies, such as rooftop solar PV and small wind, can provide new capacity without the need for additional transmission and distribution investment and there- fore cannot be directly compared with large utility-scale renew- able solutions. Data collected to date suggest that the cost of supporting renew- ables with well-designed support packages is declining over time andismuchcheaperthanastaticanalysisofcostswouldsuggest. Global Expansion of Renewable Energy By early 2014, at least 144 countries had renewable energy targets and 138 countries had renewable energy support policies in place, up from 48 countries in 2004. Developing and emerging economies have led the expansion in recent years and now account for 95 of the countries with support policies, up from 15 in 2005. Most renewable energy policies enacted focus on the power sector. Feed-in tariffs and renewable portfolio standards are the most popular instruments; public competitive bidding or tendering, gained further prominence, with the number of countries turning to public auctions rising from 9 in 2009 to 55 as of early 2014. Targets and polices supporting renewable energy heating and cooling are steadily increasing. Policy mechanisms continued to evolve, with some becoming more differentiated by technology. Feed-in policies in many countries evolved further towards premium payments in the power sector, and continued to be adapted for use in the heating sector. Recently, new policies are emerging to advance or manage the integration of high shares of renewable electricity into existing power systems, including support for energy storage, demand-side management, and smart grid technologies. 0 10 20 30 40 50 60 70 80 90 [UScent2005/kWh] [USD2005/GJ] [USD2005/GJ] Biomass Electricity Solar Electricity Geothermal Electricity Hydropower Ocean Electricity Wind Electricity Biomass Heat Solar Thermal Heat Geothermal Heat Non-Renewable Electricity Cost Oil and Gas Based Heating Cost 0 25 50 75 100 125 150 175 200 Biofuels 0 10 20 30 40 50 Electricity Heat Transport Fuels Minimum Renewable Cost Maximum Renewable Cost Range of Non-Renewable Cost Figure 9: Range in Levelised Cost of Energy for Selected Commercially Available Renewable Energy Technologies in Comparison to Non-renewable Energy Costs Source: IPCC SRREN. Reference see endnotes, Figure 9. 0102030405060708090 0255075100125150175200 01020304050

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