Renewable Energy Sources Gaining Market Share

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Monday, 7/22/2013

In a positive sign for United States energy consumption, a new report shows that the market share of renewable energy sources grew at a larger pace than fossil fuels for the year 2012. Additionally, the first half of this year has seen an enormous surge in renewable energy infrastructure and generating capacity.

For 2012, a decline in the cost of solar and wind infrastructure is partly credited with the surge in use. The International Energy Agency is now feeling more optimistic that renewable sources of energy could make up as much as 25% of global electricity generation by the year 2018.

And in another positive step for America, consumer energy consumption fellsignificantly in 2012, although that was in the wake of increased consumption from corporations.