Renewable energy generation is experiencing rapid growth but not currently growing fast enough to provide the emissions reductions needed to achieve climate stabilization targets for CO₂e emissions by 2020. The total percentage of global energy demand projected to be met by renewables in 2020 is only 11%, up from 9% in 2009, according to the EIA.
The expansion of fossil-based generation to meet new global energy demand will result in estimated increases in annual CO₂e emissions of 3 billion tons by 2020. The IPCC has called for reductions in global CO₂e emissions below 1990 levels by 2020 to avoid dangerous climate change. Growth in renewable generation needs to accelerate to meet these targets.
The ancillary benefits of renewable generation include reductions in pollutants released during fossil fuel combustion that are harmful to human health and the environment. NO_x causes lung infection (bronchitis, pneumonia) and asthma. Both NO_x And SO_x cause acid rain, with two-thirds of all smog in the U.S. released by electricity utilities. Electricity generated from coal, the dirtiest fuel source, releases tons of particulate matter, or soot, that also causes lung problems, cardiac stress, and air pollution. The transition to renewable generation would also enhance energy security for nations that rely heavily on fuel imports (coal or natural gas) for electricity generation.
The lack of bold action in the electricity generation sector is due in part to the power of entrenched interests, as well as the failure to accurately characterize the benefits and costs of alternative energy. The latter concerns is slowly being addressed, and revised projections for the U.S. based on stimulus spending for renewable energy show approximately 60% of new U.S. electricity being supplied by renewable sources.