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 introduced the Renewable Energy Sources Act (2000, feed-in tariffs, grid preference for renewable electricity and a program for 100,000 solar roofs to be installed on homes) in 2000. This helps Germany be a leader for solar and wind. Renewable energy investments are also included in the U.S. stimulus package.
Increase in solar PV
The sector of solar PV is the fastest-growing in renewable energy. It has experienced rapid growth in recent years, and it is expected to continue its strong growth through 2030. In 2017, about 2% world electricity was generated by solar PV. While this is far behind hydropower, solar PV generation is expected to catch up to 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. The world's solar PV power capacity stood at 167.047 GW in February 2018. China alone accounts for more than half of the world's solar PV capacity. This is also known as capacity per capita. Europe, the US and Middle East are responsible for less than 2 percent of global PV capacity.
Wind power increases
Wind energy can be harnessed in many ways. It is an intermittent, free and renewable energy source. It is an excellent source of power because it takes up very little space. There are some limitations to wind power, such as its variability. The best way to overcome this problem is to couple wind turbines over a wide area and average out the output. As with all energy sources, wind must be complemented by additional forms of generation and storage.
An increase in wind energy capacity is needed in order to meet the 20 percent goal by 2030. To reach this target, new transmission lines and wind turbine installations will need to be built and installed. 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 has the potential to drive economic growth in America. Wind energy has generated $151 billion in investment over the last decade. The industry is expected to generate another $20 billion by 2021. Wind energy can save the environment from the pollution produced by other forms of energy.
Storage capacity of batteries has increased
An increase in battery storage capacity is vital to ensuring clean electricity supply. The BNEF forecasts a global total energy storage capacity of 365 gigawatts (GW) by 2030, which is five times more than in 2021. The majority of grid-scale lithium-ion battery storage projects are based on this technology. Li-ion cells have many advantages, including their versatility.
The U.S. combined battery storage project capacity could rise 10 times by 2025 compared to the current level, contributing an additional 10,000 MW to grid. According to the Energy Storage Association, industry growth has accelerated over the past year and could push the projected capacity even higher. This growth could signal major growth for the storage industry over coming years.
Increase in biomass fuels
The United States' biomass fuels account for 5% of the primary energy consumption in 2021. Biomassfuels can be made from wood or municipal solid waste. These fuels are safe to burn and can also be used for electricity generation.
Renewable energy can help reduce greenhouse gas emissions. The growth of the plant offsets any carbon dioxide released by burning. For example, wood burning releases almost as much carbon than burning fossil fuels. But biomass offsets the emission 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.