The rise of solar and wind energy began in the 2000s. Solar energy is growing faster than wind energy. Renewable energy growth is driven by several factors. Germany introduces the Renewable Energy Sources Act 2000 in Germany. It includes feed-in tariffs and grid priority for renewable electricity. Also, it has a program to install 100,000 solar roofs at homes. This makes Germany a world leader in wind and solar. U.S. stimulus packages also include renewable energy investments.
Solar PV installations are on the rise
The fastest growing sector in the renewable power industry is solar PV. It has grown rapidly in the past several years, and is expected to continue growing strongly through 2030. About 2% of all electricity worldwide was generated by solar PV in 2017. While this is still far below hydropower, solar power generation is expected to catch up with hydropower by 2030.
The growth of solar PV is a global trend. The world has seen nearly double its solar PV capacity in the past decade. As of February 2018, the global capacity of solar PV was 167,047 GW. China alone is responsible for over half of the world's capacity, or capacity per capita. Europe, the US and the Middle East, however, account for less than 2% worldwide PV capacity.
Increased wind power
Wind energy is an intermittent, free, renewable energy source that can be harnessed in a variety of ways. It takes up very little space and is therefore an excellent source. However, the wind's variability can cause a few problems. Combining wind turbines on a wide area is the best way to fix this problem. Then average the output. As with any energy source, wind energy must be complemented by other forms of generation and energy storage.
For the 2030 20 percent target to be met, wind energy capacity must increase. New transmission lines and wind turbine installations are needed to reach this goal. In the USA, wind power should be more than 40,000 MW by 2030. By 2020, wind energy will generate enough electricity to power over 43 million American homes. Wind energy's potential is huge because it can drive economic growth in the United States. The industry has invested $151 million in wind energy over the past decade. It is estimated that it will invest another $20billion by 2021. Wind energy can also help reduce the amount of pollution other forms produce.
Battery storage increases
A rise in battery storage capacity will prove vital for maintaining clean electricity supply as the world moves towards cleaner energy. The BNEF projects a global total energy storage capability of 365 gigawatts by 2030. This is five times higher than the 2021 figure. Grid-scale battery storage projects rely on Li-ion technology. There are many benefits to Li-ion batteries, including their versatility.
The U.S.'s combined battery storage capacity could double by 2025 to reach 10,000 MW, adding 10 times more power to the grid. The Energy Storage Association says that the industry has experienced rapid growth over the last year. This could lead to even more projected capacity. This growth could signal major growth for the storage industry over coming years.
Increase in biomass fuels
In the United States, biomass fuels are a major source of energy, making up 5% of primary energy consumption in 2021. Biomass is made from wood, municipal solid and agricultural waste. These fuels can be used to produce electricity and are clean-burning.
The energy produced from biomass fuels can reduce greenhouse gas emissions. The growth of the plants helps offset the carbon dioxide released from the burning process. For example, wood burning releases almost as much carbon than burning fossil fuels. But biomass offsets the emission by its own growth. The carbon penalty of clearing forests to produce energy takes years to recover. Biomass fuels can also grow on land that was once used for food production.