As global temperatures rise and environmental challenges intensify, the transformation from using fossil fuels to renewable energy is increasing at a rate you had never seen. According to the International Energy Agency, renewable power generation capacity is expanding fastest in 30 years. By 2025, renewable projected to overtake coal as the world’s leading electricity source.
Here is an article that focuses on the change from fossil-based energy to renewable energy as the world records high temperatures and complex environmental issues.
Renewable Energy Sources and Their Growth
Solar Power
Solar power is at the forefront of the renewable energy revolution characterized by constantly increasing rates. Recent improvements in solar photovoltaic (PV) technology have enhanced efficiency and reduced costs. According to the International Energy Agency (IEA), solar PV constituted three-quarters of new renewable capacity additions globally in 2023.
The expansion of the solar supply chain is also notable, with increased manufacturing capabilities in the U.S., India, and China, which currently leads in solar panel production. Additionally, many people and companies are installing solar panels on their rooftops. This trend has been encouraged by policy measures such as net metering provisions, and feed-in tariffs.
Wind Power
Wind power is experiencing notable regional growth, with China leading the way. The wind power capacity in China was enhanced by 66% in 2023. However, growth in Europe and North America has faced challenges, including project delays and cancellations. In the U.S. and the UK, significant offshore wind projects with a combined capacity of 15 gigawatts (GW) were canceled in 2023 due to various factors.
Despite these challenges, prospects for wind power remain positive. The European Union’s Wind Power Action Plan aims to improve permitting processes, auction mechanisms, and financing access.
Hydropower
Hydropower remains the largest source of clean energy globally, generating approximately 4,300 TWh in 2022. It remains to be a conventional and consistent producer of renewable electricity. However, the growth of new hydropower projects is forecasted to decline by 23% over the next decade.
Hydropower projects face slower growth compared to solar and wind, but they still play a crucial role in the energy mix. To the Net Zero Emissions Scenario for the IEA, hydropower must expand by at least 4% a year.
Biofuels and Biogas
Biofuels and biogas have been up and coming especially in emerging economies due to excellent policy support. Brazil, India, and Indonesia are doing most of the expanding production of biofuels, and in 2028, 40% of organic expansion globally will be fulfilled by Brazil.
In contrast, biofuel expansion in developed economies such as the EU, US, Canada, and Japan is more constrained due to high costs and the increasing popularity of electric vehicles. Biogas production has seen increased policy support recently, with Europe being the largest producer. Technological advancements and new policies are expected to accelerate biogas production growth through 2028.
Geothermal Energy
Geothermal energy is emerging as a promising renewable resource, thanks to advancements in technology. Enhanced Geothermal Systems (EGS) allow for the extraction of geothermal energy in areas without naturally occurring hot water sources by injecting fluid underground to heat it. This technology is expanding geothermal energy’s potential beyond traditional geothermal regions.
The IEA forecasts that geothermal energy will contribute approximately 1% of the global renewable energy supply by 2030. Continued investment in geothermal research and development could help reduce costs and expand the use of this stable and sustainable energy source.
Policies Driving Development For Renewable Resources
In COP 28 of the United Nations Framework Convention on Climate Change held in 2023, the government agreed to boost the global renewable energy generation capacity threefold by the end of 2030. This ambitious goal aims to enhance decarbonization efforts, combat climate change, and achieve net-zero emissions, as outlined by the International Energy Agency IEA.
To promote the development of renewable energy technologies, governments are utilizing various public policy tools. Key frameworks like the EU Green Deal Industrial Plan, India’s Production Linked Incentives (PLI), and the Inflation Reduction Act (IRA) aim to enhance clean energy adoption. By 2028, China is expected to contribute nearly 60% of new global renewable energy capacity, highlighting its crucial role in meeting global expansion goals.
Supporting Technology For Renewable Resources
| Technology | Description |
| Energy Storage Systems | |
| Battery | Flow Batteries and Lithium-ion. |
| Pumped Hydro Storage | Stores some energy in the form of water that it raises to higher levels. |
| Smart Grids | |
| Advanced Metering Infrastructure | Submits live data about the energy consumption to be controlled. |
| Demand Response | Adjusts energy consumption patterns based on supply conditions. |
| Energy Management System | |
| Grid Scale System | Strengthen the management of generation and storage of renewable energy. |
| Building Energy Management | Controls energy use in buildings. |
| Predictive Analytics and Forecasting | |
| Weather Forecasting | Provides accurate predictions for solar and wind energy production. |
| Renewables Forecasting Platforms | Day-ahead wind and solar forecasts are accurate tools that provide the probabilities of the weather scenarios. |
| Microgrid Technologies | |
| Local Energy Grids | Small-scale grids that can operate independently or with the main grid, integrating local renewables. |
| Distributed Generation | Uses local renewable resources to supply energy directly to consumers, reducing transmission losses. |
| Electric Vehicle (EV) Charging Infrastructure | |
| Smart Chargers | Optimizes EV charging times based on grid demand and availability of renewable energy. |
| Vehicle-to-Grid | Allows EVs to return stored energy to the grid. |
| Advanced Solar Technologies | |
| Bifacial Panels | Captures the sunlight on both sides. |
| Perovskite Solar Cells | Promises higher efficiency and lower production costs |
Conclusion
When countries are searching for ways how to cope with climate change and environmental issues, the transition to renewable energy is vital and possible. The growth and application of solar, wind, hydropower and biofuels biodiesel, geothermal energy are now changing the perception towards the generation and utilization of energy.
Supported by new technologies, favorable policies, and global agreements, this transition is essential for reducing carbon emissions and addressing environmental challenges. Embracing innovation and international collaboration will be key to overcoming long-term climate issues and ensuring a healthier future for generations to come.
