Solar and wind energy took off in the early 2000s. Solar energy is growing faster than wind energy. Renewable energy growth is driven by several factors. Germany, for example, introduces the Renewable Energy Sources Act in 2000, including feed-in tariffs, grid priority for renewable electricity, and a program to put 100,000 solar roofs on homes. 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 solar PV sector is the fastest-growing sector in renewable energy. It has been growing rapidly over the past few years, and is expected continue to grow strongly into 2030. In 2017, solar PV produced about 2% worldwide electricity. Although this is still a lot less than hydropower, solar PV generation will soon catch up to hydropower by 2030.
Global trends are driving the growth of solar PV. The world's PV capacity has almost doubled over the past decade. The world's solar PV power capacity stood at 167.047 GW in February 2018. China alone represents more than half the world's total capacity or capacity per person. Europe, America, and the Middle East make up less than 2% global PV capacity.
Increase in wind power
Wind energy is an intermittent, free, renewable energy source that can be harnessed in a variety of ways. 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 any source of energy, wind energy should be complemented with other forms such as generation and storage.
To reach the 2030 goal of 20 percent wind energy, it is necessary to increase wind energy capacity. New transmission lines, wind turbine installations and new transmission lines are required in order to achieve this target. The goal is to have over 40,000 MW of wind power in the U.S. by 2030. Wind energy will produce enough electricity to power more than 43 million American homes by 2020. The potential of wind energy is significant, because it can unlock economic growth in the United States. The industry has invested $151 million in wind energy over the past decade. It is estimated that it will invest another $20billion by 2021. Furthermore, wind energy can help save the earth from the pollution that other forms of energy produce.
Battery storage has been increasing
An increase in battery storage capacity is vital to ensuring clean electricity supply. The BNEF projects a global total energy storage capability of 365 gigawatts by 2030. This is five times higher than the 2021 figure. The majority of grid-scale lithium-ion battery storage projects are based on this technology. There are many benefits to Li-ion batteries, 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 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 also be used as a source of electricity because they are clean-burning.
Biomass fuels can produce energy that reduces greenhouse gas emissions. The growth of the plant offsets any carbon dioxide released by burning. Burning wood produces about the same carbon dioxide as burning fossil-fuels, but biomass offsets that by its own growth. It takes many decades to reverse the carbon penalty caused by clearing forests for energy generation. Furthermore, biomass fuels may be grown on land used previously for food production.