The rise of solar and wind energy began in the 2000s. Wind energy is declining at a faster pace than solar energy. This rapid increase in renewable energy can be attributed to many 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 helps Germany become a leader in solar and wind. U.S. stimulus packages also include renewable energy investments.
Increase in solar PV
The solar PV sector is the fastest-growing sector in renewable energy. It has seen rapid growth over the last few years and will continue to grow strongly through 2030. In 2017, about 2% world electricity was generated by solar PV. This is far less than hydropower but solar PV generation should catch up to hydropower in 2030.
The rise of solar PV is a global trend. The world's total PV capacity has more than doubled in the last decade. The world's solar PV power capacity stood at 167.047 GW in February 2018. China alone has more than half of world's global capacity. Europe, America, and the Middle East make up less than 2% global PV capacity.
Increased wind power
Wind energy, an intermittent, unrestricted, and renewable energy source, can be harnessed for a variety purposes. Because it takes up so little space, it is an excellent source. However, the wind's variability can cause a few problems. It is possible to combine wind turbines in a large area and average the output to solve this problem. As with any energy source, wind energy must be complemented by other forms of generation and energy storage.
In order to achieve the 20 percent goal by 2030, we need to increase our wind energy capacities. To reach this target, new transmission lines and wind turbine installations will need to be built and installed. By 2030, the goal is to have more than 40,000 MW of wind energy in the United States. Wind energy will provide enough electricity to power nearly 43 million American homes each year by 2020. Because it can generate economic growth in the United States, wind energy holds great potential. In the past ten years, wind energy has attracted investments of $151 billion. By 2021, the industry will have invested another $20 billion. Wind energy can also help reduce the amount of pollution other forms produce.
Battery storage has been increasing
In order to maintain clean electricity supply, it is crucial that the world increases its battery storage capacity. The BNEF predicts that the world's total energy storage capacity will reach 365 gigawatts (GW), which is five times greater than 2021. The majority of grid-scale lithium-ion battery storage projects are based on this technology. Li-ion batteries have a number of benefits, including their versatility.
The combined capacity of battery storage projects in the U.S. could grow 10 times over the current figure by 2025, contributing a total of 10,000 MW to the grid. According to Energy Storage Association data, industry growth has been rapid in the past year. This could allow for even higher projected capacity. This growth could indicate major growth in storage industry in the future.
Increase in biomass fuels
US biomass fuels will make up 5% to 2021 of primary energy consumption. Biomass fuels are made from wood, municipal waste and agricultural byproducts. These fuels can be used to produce electricity and are clean-burning.
Greenhouse gas emissions can be reduced by using biomass fuels as energy. The growth of the plants helps offset the carbon dioxide released from the burning process. Burning wood, for example, releases approximately the same amount of carbon as burning fossil fuels. However, biomass offsets these emissions by its own growth. It takes many decades to reverse the carbon penalty caused by clearing forests for energy generation. Biomass fuels can also grow on land that was once used for food production.