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LONDON (Reuters) – Energy produced by wind, solar and other renewable sources will grow by fourfold by 2030, but the clean-energy sector will account for only a small fraction of total output, a BP report said on Wednesday.
Renewable energy, excluding hydropower, will total 860 million metric tons of oil equivalent (Mtoe) by 2030, accounting for around 5 percent of the world’s total energy production of 16,605 Mtoe.
In 2010, renewable energy production totaled nearly 159 Mtoe or just over 1 percent of the global total, data from BP’s Energy Outlook 2030 showed.
The European Union will initially lead the growth in renewable energy production, although from 2020 the United States and China will be the largest sources of growth, it said.
Global investment in clean energy hit a record $260 billion in 2011, a Bloomberg New Energy Finance (BNEF) report said earlier this month.
But investment in global wind energy fell by 17 percent year on year, while the renewable energy sector as a whole saw plant and
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