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Renewable energy and energy efficiency are no longer niche sectors that are promoted only by governments and environmentalists. The increasing levels of investment and capital from conventional financial actors suggest that sustainable energy has become mainstream and the future of energy production, as non-renewable resources decline.
Renewable energy technology was once seen as unaffordable for developing countries. [201] However, since 2015, investment in non-hydro renewable energy has been higher in developing countries than in developed countries, and comprised 54% of global renewable energy investment in 2019. [202]
The transition to renewable energy depends on non-renewable resources, such as mined metals. [38] Manufacturing of photovoltaic panels, wind turbines and batteries requires significant amounts of rare-earth elements [39] which has significant social and environmental impact if mined in forests and protected areas.
Renewable resources are available each year, unlike non-renewable resources, which are eventually depleted. A simple comparison is a coal mine and a forest. While the forest could be depleted, if it is managed it represents a continuous supply of energy, vs. the coal mine, which once has been exhausted is gone.
This energy consists of fuel (78%) and electricity (22%). The tables list amounts, expressed in million tonnes of oil equivalent per year (1 Mtoe = 11.63 TWh) and how much of these is renewable energy. Non-energy products are not considered here. The data are of 2018.
Renewable energy may replace conventional fuels in four distinct markets, namely electricity generation, hot water/space heating, motor fuels, and rural (off-grid) energy services. [48] Manufacturing of renewable energy devices uses non-renewable resources such as mined metals and land surface .