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The total installed capacity of wind at the end of 2011 had grown to around 240 GW, making it the second largest contributor to renewable generation capacity after hydropower. Solar PV capacity had grown to around 70 GW at the end of 2011 and in 2012 has already surpassed biomass capacity, although not generation. Biomass‐fired electricity generation capacity is estimated to be around 72 GW, but achieves much higher capacity factors than solar PV. Europe and North America combined account for at least half of the total installed capacity except in the case of hydropower. Europe and North America dominate solar capacity worldwide, with 94% of global installed CSP capacity (virtually all of this CSP capacity is in Spain and the United States) and 81% of solar PV capacity in these two regions. Europe accounts for around three‐quarters of total global installed solar PV capacity, with 52 GW in total. Japan and North America had around 5 GW of installed capacity at the end of 2011, while China had around 3 GW of installed solar PV capacity. Europe accounted for around 41% of the total installed capacity of wind worldwide at the end of 2011 (GWEC, 2012), China for 26% and North America for 22%. China’s wind market continues to account for around half of new installed capacity globally and its share of cumulative installed capacity will continue to increase. Of the non‐ hydro renewable electricity generation sources, geothermal is the most global, with 42% of capacity installed outside the OECD, predominantly in Indonesia (1.2 GW), Latin America (0.5 GW) and the Philippines (1.9 GW) (IGA, 2012). Although Europe and North America dominate the total installed biomass capacity for electricity generation, biomass distribution around the world is much more even, with significant capacity in Brazil, China, India, Japan and the rest of Asia (REN21, 2012 and PLATTS, 2011). 3.2 ANNUAL NEW RENEWABLE CAPACITY ADDITIONS Although hydropower is the largest renewable electricity generation source, it is growing slower than other renewable technologies. In 2011, hydropower capacity increased by around 25 GW (REN21, 2012). This represents a percentage increase of around 3%. Long lead times and the fact that many of the best hydropower resources in OECD countries have already been exploited explain this slow growth. Geothermal is also a relatively mature technology, although its maturity depends on whether or not a country has a significant history of geothermal development and use. Only 136 MW of geothermal capacity was added in 2011, but 0.8 GW of new capacity was in an advanced stage of development at the end of 2011 in the United States and perhaps another 0.2 GW elsewhere (REN21, 2012). Solar technologies are achieving the highest percentage rates of growth. In 2011, solar PV grew faster than any renewable energy technology, with 29.7 GW of new capacity installed in 2011, a 70% increase over 2010. This remarkable growth has capped an impressive 11 years, with the global installed capacity of PV having multiplied by a factor of 38 in the eleven years since 2000, when capacity was just 1.8 GW, to 70 GW at the end of 2011. This represents a growth rate of around 40% per year (Figure 3.2) (EPIA, 2012). With virtually unlimited resources, the main constraints on the growth of solar technologies are the economic outlook and policy support measures. Annual capacity additions of 30 GW are still well below manufacturers’ capabilities, as global PV module manufacturing capacity is estimated to have been around 60 GW/year in 2011 (a doubling of the 2010 capacity) and 70 GW/year in 2012 (GTM, 2012). Most of this expansion took place in mainland China and Taiwan. Given this overcapacity in PV module manufacturing capacity, some plants are being retired, but larger, newer plants in China are still coming online, so there is unlikely to be any reduction in overall capacity before 2014. 26 Renewable Power Generation Costs in 2012: An OverviewPDF Image | International Renewable Energy Agency
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