Global status of renewable energy and market: Future prospectus and target

The World is gradually shifting focus toward its renewable energy resource. Driven by an increasing demand for electricity and widening gap between demand and supply. World has target 800 GW of Renewable power by 2035, Without including Small Hydro power plant and has been enduring a pressing need to reduce its high and increasing greenhouse gas emission. Renewable Energy in the world day by day increases its installation capacity. Renewable electric energy demand has grown by an average 30% per annum over the past 20 years against a backdrop of rapidly declining costs and prices. By early 2010, policy targets for renewable energy at the national level existed in at least 85 countries worldwide, including all 27 European Union member states .Many national targets are for shares of electricity production, typically 5-30 percent, but range from 2 percent to 90 percent. By early 2010, more than two-thirds of the 85 countries with existing national targets were aiming for 2020 or beyond in some manner. Developing countries can virtually stabilize their C02 emissions by 2025 and reduce afterwards, whilst at the same time increasing energy consumption due to economic growth. OECD countries will be able to reduce their emissions by up to 90% by 2050.