Solar and wind energy have been growing rapidly since the early 2000s. The growth of solar energy is much faster than that of wind energy. This rapid increase in renewable energy can be attributed to many factors. Germany's Renewable Energy Sources Act was introduced in 2000. It provides feed-in tariffs as well as grid priority for solar electricity. There is also a program to place 100,000 solar roofs onto homes. This allows Germany to be a global leader in solar and wind. The stimulus package also includes renewable energy investments.
Increase in solar PV
The solar PV industry is one of the fastest growing sectors in the renewable energy sector. It has experienced rapid growth in recent years, and it is expected to continue its strong growth through 2030. About 2% of all electricity worldwide was generated by solar PV in 2017. While this is far behind hydropower, solar PV generation is expected to catch up to hydropower by 2030.
The growth of solar PV is a global trend. The world's global PV capacity has almost doubled in the past decade. In February 2018, solar PV's global capacity was 167.047 GW. China alone accounts for more than half of the world's solar PV capacity. This is also known as capacity per capita. Europe, the US, and Middle East account for less that 2% of the total global PV capacity.
Increase in wind power
Wind energy can be harnessed in many ways. It is an intermittent, free and renewable energy source. It is an excellent source of power because it takes up very little space. However, the wind's variability can cause a few problems. It is possible to combine wind turbines in a large area and average the output to solve this problem. As with any energy source, wind energy must be complemented by other forms of generation and energy storage.
To reach the 2030 goal of 20 percent wind energy, it is necessary to increase wind energy capacity. New transmission lines and windturbine installations will be required to meet this goal. To have more that 40,000 MW wind power in the U.S. by 2030 is the goal. Wind energy will produce enough electricity to power more than 43 million American homes by 2020. The potential of wind energy is significant, because it can unlock economic growth in the United States. The industry has invested $151 million in wind energy over the past decade. It is estimated that it will invest another $20billion by 2021. Wind energy can also help reduce the amount of pollution other forms produce.
Increase in battery storage
As the world moves towards a cleaner energy future, an increase in battery storage capacity will be vital to maintaining clean electricity supply. The BNEF estimates that there will be a global total storage capacity of 365 GW by 2030. This figure is five times larger than what was predicted in 2021. Most grid-scale battery storage projects have used Li-ion technology to date. There are many benefits to Li-ion batteries, including their versatility.
The U.S.'s combined battery storage capacity could double by 2025 to reach 10,000 MW, adding 10 times more power to the grid. According to the Energy Storage Association, industry growth has accelerated over the past year and could push the projected capacity even higher. This growth could signal major growth for the storage industry over coming years.
The use of biomass fuels is increasing
In the United States, biomass fuels are a major source of energy, making up 5% of primary energy consumption in 2021. Biomass fuels are made from wood, municipal waste and agricultural byproducts. These fuels burn cleanly and can be used to create electricity.
Biomass fuels are able to reduce greenhouse gas emissions by producing energy. The growth and production of biomass fuels offsets carbon dioxide emitted by burning. For example, burning wood releases about as much carbon as burning fossil fuels, but biomass offsets the emissions with its own growth. It takes many decades to reverse the carbon penalty caused by clearing forests for energy generation. Furthermore, biomass fuels may be grown on land used previously for food production.