The the second Assembly of International Renewable Energy Agency (Irena) was held in Abu Dhabi on 14th and 15th January 2012. UAE is one of the major financial contributors to Irena. UAE has contributed more than $7 million (Dh25.7 million) to Irena. At this assembly, United Nations has declared the year 2012 as the ‘International Year of Sustainable Energy for All’. The European Union, 137 countries and around 57 organisations have attended the two-day assembly.
The UN’s motto is taken with the view that renewable energy has tremendous potential to erase poverty across the world. It is an accepted fact that access to energy helps monitor poverty and aids in increase the living standard among the people.
Renewable energy was responsible for around 16% of the global energy consumption in the year 2010. Additionally around 20% of the global electricity production was provided by renewable energy.
One of the major catastrophic event that changed the global perception towards renewable energy was the earthquake and tsunami that hit Japan on March 2011. This calamity caused a major crisis at the Fukushima nuclear power plant. The new Japanese legislatures now make it mandatory to buy all types of renewable energy produced at all scales.
Energy consumption from renewable sources has almost tripled in Germany in the past ten years. The long backing for photovoltaic (PV) technology has paid off. By the year 2015, the energy produced from PV technology will be on par with the energy produced from other conventional sources. This positive growth in the renewable energy sector has been made possible due to Germany’s inspiring investment strategies and energy policies designed to promote renewable energy.