We live in a world that is filled with unpredictability, especially in relation to the motion of climate change. Exploring precisely what may occur in the next hour or the next day is unforeseeable, though not a wasted work. Even though we cannot see what the future has in store for us, we can speculate about it and make perceptions on the greatest obtainable details we have. Regarding individuals, the economy and politics, it is furthermore complicated to predict than natural occurrence. It is however crucial to understand the measure of action needed and how to enhance positive change.
The International Energy Agency
The International Energy Agency (IEA) has set out Renewables 2019 – an examination and forecast of worldwide renewable energy until the year 2024. This is a substantial understanding into the international trends, market actions and foreseen movements over the next following years. This reports information of global change are possible, details on changes, and where they will be made.
What Are The Key Renewable Energy Findings?
The IEA has amended the prognostication toward a higher level since its publication in 2018, with renewable measures now predicted to grow more than 50% by 2024. Though in 2019, wind power hit the headlines numerous times in the United Kingdom (UK). It is solar energy which is forecasted to report for more than 60% of this broadening globally, for the most part, utility-scale. Anyhow, distributed PV is one of the biggest developing technologies, anticipated to expand by 250% over the period. Wind power, hydropower and bioenergy respectively grasp the upcoming largest expansion.
Where Are The Changes Coming From?
As many of us would envision, China is driving most of the renewables dimension development, investing heavily in solar PV and wind power, changing to a competitive auction structure used a lot in Europe. The European Union (EU), the newest leaders in offshore wind, are forecasted to be overtaken by China in deployment. This growth leads to a projected three-fold increase in offshore wind capacity globally. Onshore wind capacity is expected to grow much less, with a 57% increase coming mainly from the EU, despite slower growth in China and the US.
This blog touched on the meaning of The International Energy Agency and the key findings in terms of renewable energy. Additionally, where the renewable changes and adjustments are coming from was also explained and discussed in this blog.