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Thursday, December 2, 2021

Renewable energy will soar

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As countries formulate stricter climate policies and more ambitious emission targets, the construction of solar farms, wind turbines and other renewable energy sources will soar in the next five years.

The new renewable power capacity will set another record this year, reaching 290 GW. It is reported A new report From the International Energy Agency. This is roughly equivalent to the construction of nearly 300 nuclear reactors or nearly 150 Hoover Dam, which is still happening despite global supply chain issues, rising material costs and restrictions on the new crown virus.

The intergovernmental research organization now predicts that by 2026, these carbon-free global production capacity will increase by more than 60% from last year’s level. This will add approximately 4,800 gigawatts, which is equivalent to all fossil fuel and nuclear power plants in the world today.

In addition, during this period, renewable energy will account for 95% of the overall capacity growth of the power sector.

The construction of new wind and solar power plants does not necessarily mean that renewable energy is replacing fossil fuels-because energy demand is also rising. It remains to be seen how quickly carbon-free energy will become the main source of global electricity and begin to rapidly replace coal, natural gas and other sources of pollution.

Although renewable energy now accounts for most of the new capacity under construction, depending on changing costs and weather conditions, the level of power generation by source may rebound sharply year by year. However, according to Bloomberg New Energy Finance, in the past few years, coal power generation has declined, while solar, hydropower and wind power generation have increased.Actually these three sources Accounted for all the growth In terms of power generation last year, the output of coal, natural gas and nuclear power plants declined.

The International Energy Agency has raised its renewable energy forecast for 2026 significantly, which is more than 40% higher than last year’s forecast. Among other things, the agency also mentioned economic improvements, increased national emission reduction commitments prior to the recent United Nations Climate Conference, and domestic developments and policies.






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