By Christian Rinomato of RGC Energy
What if we could live in a world powered by clean energy?
That reality is not too far off. Globally we have seen an incredible increase in the use of renewable energy through sources like solar and wind. As countries set targets for a Net Zero world by 2050, more and more capital is directed at new clean energy projects. Global events have also set us off in this direction such as the war in Ukrainian which increased the cost of oil and gas to unsustainable levels, making the use of renewable energy a cost-effective practice in Europe. In the United States, Biden introduced an Infrastructure Bill that would see spending in the trillions to encourage the transition to renewable energy.
“By 2026, global renewable electricity capacity is forecast to rise more than 60% from 2020 levels to over 4 800 GW – equivalent to the current total global power capacity of fossil fuels and nuclear combined. Renewables are set to account for almost 95% of the increase in global power capacity through 2026, with solar PV alone providing more than half.” – IEA
The transition to renewable energy is going to take all of us to play its role, both in adoption and acceptance. A world with no carbon-emitting energy sources is possible for a cleaner, more prosperous world.