Cape Town, South Africa – A new World Economic Forum report will be launched today ahead of the upcoming World Economic Forum on Africa in Cape Town on 4-6 May. Produced in collaboration with PwC, the report, Developing Renewable Energy Capacity, argues that scaling up renewables requires much more than public and private finance. A more flexible regulatory framework and improvements in electricity grid infrastructure are the keys to building a sustainable, energy-secure future.
Renewable power capacity has grown rapidly over the past decade. Driven by economic development and associated increasing demand for energy, 2009 saw over US$ 150 billion invested in renewables. This amount increased to over US$ 240 billion in 2010 with the US and Europe adding more renewable than conventional power capacity.