“The planet is heating up” you may have heard this a great deal and because of this, individuals are attempting to switch to cleaner energy, to warm it up less, or at least more slowly. So, how’s that going? The Renewables Global Status Report (GSR) digs into the growth rates of various energy sources, the flows of clean energy investment, and the world’s progress on its sustainability goals.
Encouraging Progress in Renewable Energy
To begin with some good news: the shift in the electricity sector has effectively become unstoppable. Worldwide, more sustainable power capacity has been installed than new fossil fuel and nuclear capacity combined. A major driver of this growth is the rise in solar photovoltaic (PV) panels, with hundreds of gigawatts installed globally. The future of the world’s energy landscape heavily depends on the continued boom in solar energy.
All the development and investments in renewable power are starting to add up. Renewables now represent more than a third of the world’s installed capacity and over 26 percent of global electricity production.
The Role of Hydropower and Other Renewables
Hydropower plays a significant role in the renewable energy landscape, accounting for nearly 16% of the total renewable energy capacity worldwide. This substantial contribution underscores the importance of hydropower in the current energy mix. Despite its dominance, there is a growing recognition of the need to diversify renewable energy sources to achieve a more balanced and resilient energy system.
In contrast, wind and solar power, often the most recognized forms of renewable energy, collectively make up only 8% of the total renewable energy capacity. This disparity highlights the potential for growth in these sectors. Wind and solar energy have seen rapid advancements and cost reductions, positioning them as critical components of the future energy landscape. However, their current share indicates that there is still considerable room for expansion and integration into the global energy mix.
Even with the significant contributions from hydropower, the renewable energy sector still has a long way to go to meet global energy demands sustainably. Increasing the share of wind, solar, and other renewable sources is essential to reducing dependence on fossil fuels and achieving long-term sustainability goals. The ongoing development and deployment of these technologies will be crucial in driving the transition to a fully renewable energy system.
A Fully Sustainable Energy System by 2050
Research indicates that sustainable power could fully control the world by 2050. Transitioning to a completely practical global energy scene within the next 30 years is not only feasible but also necessary. The ambitious objectives set forth highlight the challenges we face, but they also underscore the critical need for decisive action to achieve this transformation.
Despite the challenges, the reports consistently infer that the innovation required to transition to a fully sustainable energy framework already exists. The advancements in renewable energy technologies, such as solar and wind power, coupled with improvements in energy storage and smart grid systems, provide a solid foundation for this global shift. Embracing these innovations is crucial to overcoming the hurdles and meeting the ambitious goals set for 2050.
Achieving a fully sustainable energy system by 2050 is essential to keep the planet beneath the critical 1.5° Celsius global warming target set by the Paris Agreement. This transition not only addresses environmental concerns but also paves the way for a healthier and more resilient global community. By committing to this path, we can mitigate the adverse effects of climate change and secure a sustainable future for generations to come.
Mitigating Climate Change Impacts
It could likewise mean less contamination. Nine out of each 10 individuals in the world inhale contaminated air, as indicated by the World Health Organization, which can prompt respiratory illnesses, heart conditions, strokes and other hazardous sicknesses.
Economic Benefits of Renewable Energy
The Path Forward
This promising future, the researchers emphasize, is attainable if significant action is taken by a range of stakeholders. Policymakers, business leaders, and other key players must collaborate to speed the transition to sustainable energy. Through joint efforts and strategic initiatives, the world can move swiftly toward a future powered by renewable energy, ensuring a cleaner, healthier, and more sustainable planet for generations to come.
