Solar and wind energy took off in the early 2000s. The growth of solar energy is much faster than that of wind energy. This rapid increase in renewable energy can be attributed to many factors. Germany's Renewable Energy Sources Act was introduced in 2000. It provides feed-in tariffs as well as grid priority for solar electricity. There is also a program to place 100,000 solar roofs onto homes. This helps Germany be a leader for solar and wind. In the U.S. stimulus package, renewable energy investments are also included.
Increase in solar PV
The fastest growing sector in the renewable power industry is solar PV. It has seen rapid growth over the last few years and will continue to grow strongly through 2030. About 2% of all electricity worldwide was generated by solar PV in 2017. While this is far behind hydropower, solar PV generation is expected to catch up to hydropower by 2030.
Global trends are driving the growth of solar PV. The world has seen nearly double its solar PV capacity in the past decade. The global solar PV capacity was 167.047 GW as of February 2018. China alone has more than half of world's global capacity. In contrast, Europe, the US, and the Middle East represent less than 2% of total worldwide PV capacity.
Increased wind power
Wind energy is an intermittent and free source of energy that can easily be harnessed to a wide range of uses. Wind energy is a great source of power as it takes up little space. There are some limitations to wind power, such as its variability. Combining wind turbines on a wide area is the best way to fix this problem. Then average the output. As with all energy sources, wind must be complemented by additional forms of generation and 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. In the USA, wind power should be more than 40,000 MW by 2030. Wind energy will generate enough electricity in 2020 to power almost 43 million American households. Because it can generate economic growth in the United States, wind energy holds great potential. Wind energy has generated $151 billion in investment over the last decade. The industry is expected to generate another $20 billion by 2021. Furthermore, wind energy can help save the earth from the pollution that other forms of energy produce.
Battery storage is increasing
An increase in battery storage capacity is vital to ensuring clean electricity supply. The BNEF expects a global total of 365 gigawatts to be available by 2030. That's five times the amount projected for 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. would see a 10x increase in battery storage capacity by 2025. That will add 10,000 MW to America's grid. According to Energy Storage Association, the industry growth rate has increased over the past year which could increase the projected capacity. This growth could be an indicator of major growth in the storage industry in years to come.
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 also be used as a source of electricity because they are clean-burning.
Biomass fuels are able to reduce greenhouse gas emissions by producing energy. The growth of the plant offsets any carbon dioxide released by burning. Burning wood, for example, releases approximately the same amount of carbon as burning fossil fuels. However, biomass offsets these emissions by its own growth. By contrast, clearing forests for energy production creates a carbon penalty that takes decades to recoup. Furthermore, biomass fuels are possible to be grown on land which was once used as food production.