The Growth of Renewable Energy
With climate change threatening our planet, there has been a major push towards adopting renewable energy sources. Renewables like solar, wind and hydro power are set to become the future of energy across the globe.
The Renewable Energy Transition
A transition from conventional fossil fuels to renewable sources is crucial to reduce greenhouse gas emissions. Renewables accounted for 12.6% of global electricity generation in 2018. This figure is expected to grow substantially in the coming decades.
Many countries are setting ambitious renewable energy targets. For example, the UK aims to generate 50% of its power from renewables by 2030. The global installed capacity for renewables could increase up to 22,500 GW by 2030.
Advantages of Renewables
There are several key benefits to expanding the share of renewables in the global energy mix:
- Clean energy with lower carbon emissions compared to fossil fuels. This mitigates climate change.
- Enhanced energy security and reduced reliance on imported fuels for countries.
- Lower operating costs once installed with minimal fuel expenses.
- Sustainable energy sources that are replenished naturally.
- Renewable power supports decentralized grids, providing energy access to rural areas.
Growth of Key Technologies
Solar and wind power have seen tremendous growth due to falling costs and increased efficiency.
Solar PV capacity reached over 500 GW in 2018. Powerful onshore wind turbines now allow wind farms to be built further offshore. Other renewables like geothermal, tidal and wave power also have significant potential.
The Future of Renewables
Renewables are expected to play a major role in a clean and sustainable energy future. With supportive policies, technological advances and falling costs, renewables adoption is poised for massive expansion globally. The future is certainly bright for renewable power.
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