Climate change is a major concern for the world, and finding out what will happen is not pointless. The unpredictable nature of the situation makes it impossible to predict what will happen.
Although we can’t predict the future, we can still make informed decisions based on the information that we have available. This is very important in assessing the scale of change that we can make in the world. In addition to being able to predict the future, it is also very important to understand the various factors that can affect the development of our society.
The IEA’s renewable energy development services report comprehensively analyzes the global renewable energy market and its predicted actions from 2019 to 2024. It also explores the factors that will affect the industry. This report gives a sense of the global change scale and where it will go.
What Can We Expect from Renewable Energy in the Future?
The International Energy Agency (IEA) has revised its projections for the renewable energy sector, which now projects that by 2024, renewable energy capacity will increase by over 50%.
Despite the increasing number of wind power projects in the UK, solar energy is expected to be the main contributor to this growth.
One of the fastest-growing technologies in the next few years is distributed PV. It is expected to grow by 250%. Other promising technologies, such as bioenergy and wind power, are also expected to contribute significantly.
Where Would the Changes Come From?
China is expected to drive the increase in renewables capacity, as it is heavily investing in solar PV and wind power. This will eventually overtake the EU as the world’s leading offshore wind power producer.
The country is also expected to overtake the US as the largest offshore wind energy producer.
However, despite slower growth in both China and the US, the EU is expected to grow its offshore wind capacity by over 50%, while the rest of the world will only see a slight decrease.
How Will the Changes Affect Grid Carbon Intensities?
Although the expected increase in renewable capacity does not necessarily mean that grid intensity will decrease, it can be explained by various factors such as changes in energy demand, grid connectivity, and efficiency.
These capacity changes show the government’s support for these technologies and their projected investment.
The UK is expected to increase its renewable energy capacity by 30% by 2024. This is mainly due to the country’s offshore wind potential. The BEIS publishes detailed forecasts regarding the country’s energy future.
They expect renewables to increase linearly while coal and gas will decline. Nuclear is also expected to rise to meet the electricity needs of the grid. On the emissions side, they expect a 16% decrease in energy supply emissions by 2024.
Are The Changes in Renewable energy Information Reliable and Accurate?
The IEA’s forecasts are based on a country-by-country analysis of various factors, such as policies and demand. However, due to the uncertain political climate, these projections may be affected by the outcome of the COP 25 conference and the Extinction Rebellion movement.
The International Energy Agency (IEA) has been criticized for its failure to predict the future growth of renewable energy. However, given the uncertainty of the UK’s December election, it is not yet clear how the country will move toward a decarbonized energy grid.
What Do We Get From This?
The increasing cost of green energy and the need to reduce greenhouse gas emissions are becoming increasingly important factors for both consumers and businesses. The emphasis is on the use of energy efficiency and the decarbonization of their consumption.
The rise of green energy is affordable and beneficial for the people and businesses of today. Consumers and businesses must adopt the necessary energy efficiency and decarbonization to make the most of this renewable resource.
The Sources of Renewable Energy are Just Surrounding Us
Around 80% of our global population is exposed to countries–net importers of fossil fuels, which means they are vulnerable to crises and geopolitical shocks. This is about 6 billion individuals globally.
Despite the availability of renewable energy sources, the potential of these plants is still not fully realized in most countries. According to the IRENA (International Renewable Energy Agency), by 2050, renewable energy should account for over 90% of the electricity supply in the world.
Countries can diversify their economies from dependence on imported oil by utilizing renewable energy sources. This can help them avoid the sudden price swings of fossil fuels and foster inclusive growth.