Renewable Energy is the key to the survival of the humankind as to meet the long-term climate needs and sustainability. However, as stated by the IEA ( International Energy Association) in its reports, the growth rate of Renewable Energy worldwide has been the same.
“An unexpected flattening of growth trends that raises concerns about meeting long-term climate goals.”, IEA stated in its new report.
A major factor or reason behind this non-progressive growth rate of renewable energy is the leveling of Solar growth globally, solar has been making up for the lacking behind of the wind and hydropower as the IEA calculates the renewable energy net capacity year-wise and solar, wind, hydro, bioenergy, and other renewable sources are counted in that net capacity. So if one or two are declining and the third one has to fill in their gaps then the whole net capacity changes/declines.
EA Executive Director Fatih Birol talks about integrating renewables that can make a difference.
“The world cannot afford to press ‘pause’ on the expansion of renewables and governments need to act quickly to correct this situation and enable faster flow of new projects. Thanks to rapidly declining costs, the competitiveness of renewables is no longer heavily tied to financial incentives. What they mainly need are stable policies supported by a long-term vision but also a focus on integrating renewables into power systems in a cost-effective and optimal way. Stop-and-go policies are particularly harmful to markets and jobs,” he said.
World Economic Forum also released its report on Effective Energy
“average system performance score had been improving since 2014, but it stalled last year, Continued use of coal for power generation in Asia, increasing commodity prices and slower than needed improvements in energy intensity have contributed to this year’s stagnation in performance,” it stated.
Conclusion:
The Countries around the globe, especially the ones that have low ranks in the Energy Transition Index 2019, need to organise the ways of generating the renewable energy and also need to maintain an equal ratio between all the sources of renewable energy rather than the letting a gulf emerge amidst the methods of renewable energy generation thus it will result in the annual increase in the Renewable Energy Net Capacity.
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