Biofuels Renewable Energies Witness 9th Year of Double–Digit Growth in Series
The new BP Review of World Energy, presented today in London, shows that renewable energies witnessed a 19 percent growth in 2011 (making it the ninth year of double digit growths for renewables in series). Biofuels alone rose by more than 13 percent, an increase that would have been even sharper if it had not been for a period of bad weather during summer 2011 in Brazil.
London/united Kingdom – Especially strong growths were witnessed in emerging China, the US (with a series of hydropower and biofuel projects) and Germany. Despite these outstanding year–on–year growth– rates, renewables still account for only two percent of the total energy consumption. “This is a story of fuel substitution,” BP's chief economist Christoph Rühl commented.