New Energy Is A Transformation Leader
Renewable Energy: The Power Of Change; In order to meet consumer demand and the long-term goal of net-zero energy emissions by 2050, production of renewables must expand dramatically.
Dominique Cantelme, July/August 2021 (Business Facilities)
According to the International Energy Agency (IEA), based on current policy settings and economic trends, electricity generation from renewables, including hydropower, wind and solar PV, is on track to grow by 8 percent in 2021 and by more than 6 percent in 2022. However, renewables will still only be able to meet around half of the projected increase in global electricity demand over these two years…
…[IEA’s Net Zero by 2050: A Roadmap for the Global Energy Sector found] that while global commitments and actions have grown, and continue to do so, it is not enough to limit the global temperature rise to 1.5°C, which will limit the worst effects of climate change. Global warming is already impacting people and ecosystems but the risks at 1.5°C and 2°C are progressively higher…
‘To reach net zero emissions by 2050, annual clean energy investment worldwide will need to more than triple by 2030 to around $4 trillion.’ The report sets more than 400 milestones for what needs to be done, and the energy sector—as the major source of global emissions—is cited as the key to success, with nearly three-quarters of global emissions reductions between 2020 and 2025 taking place in the electricity sector. The pathway calls for coal-fired electricity generation to fall by more than 6 percent a year [and be replaced by huge increases in electricity system flexibility—such as batteries, demand response, hydrogen-based fuels, hydropower and more] to achieve this goal… click here for more
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