According to an article in the July 6th, 2013 edition of New Scientist magazine, the age of renewable energy is upon us. Data from the International Energy Agency predicts renewable energy will exceed energy from all other sources of electricity except for coal, by 2016. Renewables are then poised to outstrip coal shortly after 2035.
Renewables are now the fastest growing source of power with hydropower making up the largest source, followed by onshore wind. In total, they now account for 1/5 of total global power generation. This is despite the fact there is still no global plan to reduce carbon emissions.
The International Energy Agency reports that many renewables no longer require economic incentives. What they do require however, are long-term policies that will provide a predictable and reliable market.