Global installed power capacity reached 6,492 gigawatts (GW) in 2016 from over 5,000 GW in 2010 at a compound annual growth rate (CAGR) of 4.3%. The global power industry is characterized by heavy dependence on thermal fuel sources for power generation, as major power-generating countries such as the US, China, Japan, Russia, and India have abundant coal reserves. In recent years, significant economic development in China and India and the increased use of coal resources have driven the rapid growth of thermal generation. As energy demand has continued to rise, global warming has become an even more important topic of discussion. With insecurities surrounding supplies of conventional fuels and volatile prices, renewable energy is emerging as a feasible alternative.
Thermal power is the largest power generating source with a 61.2% share of the total power capacity in 2016. Cumulative installed capacity for thermal power was 3,975 GW in 2016. Hydropower is the second-largest power generating source with a cumulative installed capacity of 1,202 GW in 2016 and accounted for a share of 18.5% of the global pie. Renewable energy sources constituted 925 GW in 2016 and had an installed capacity share of 14.2%. Wind power is the largest renewable source with a share of over 7.6% of the global power capacity in 2016 followed by solar photovoltaic (PV) (4.7%) and biopower (1.7%).
The report covers the current global power market status and key trends.
The report details global installed capacity during the period 2010-2016, installed capacity share by power generating source, primary energy consumption, power consumption, carbon emissions, share of renewables in total installed power capacity, and the global installed capacity mix
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To gain insights on the global power market status and major trends