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Will Renewable Energy Capacity Really Double by 2030?

Will Renewable Energy Capacity Really Double by 2030?

In the current era of rapid climate change and environmental awareness, the global energy landscape is undergoing a significant transformation. A recent report by Ember projects a groundbreaking development in this realm: by 2030, the world is set to witness a doubling of its renewable energy capacity, reaching approximately 7.3 terawatts. This marks a pivotal moment in our journey towards sustainable energy solutions.

The Current State of Renewable Energy

As of now, renewable energy sources like solar, wind, and hydroelectric power form a substantial part of the global energy mix. However, the report indicates that the current capacity, while impressive, is only the tip of the iceberg in terms of what needs to be achieved. The transition from fossil fuels to renewable sources is not just an environmental imperative but also increasingly an economic one, as the cost of renewable technologies continues to fall and company’s such as ourselves increase the accessibility of renewable energy assets with zero CapEx solutions.

Drivers of Growth

Several factors are driving this expected surge in renewable energy capacity. Advancements in technology have dramatically increased the efficiency and reduced the cost of renewable energy systems. Solar panels and wind turbines are now more accessible and affordable than ever. Additionally, the political will to combat climate change has led to supportive policies and incentives for renewable energy development in many countries.

Challenges and Opportunities

Despite these positive trends, the report highlights several challenges. The foremost is the need for substantial investment in both the technologies and the infrastructure required to support this expansion, such as energy storage systems and upgraded power grids. Additionally, there is a need for coordinated international efforts to ensure that the growth in renewable capacity is not just in developed countries but also in developing regions, where the need for clean, affordable energy is often greatest.

The projection of doubling renewable energy capacity by 2030 is not just a goal; it’s a necessity for a sustainable future. The report serves as a clarion call for governments, industries, business leaders and individuals to come together to make this vision a reality. By embracing renewable energy, we can pave the way for a cleaner, greener, and more sustainable world.

Accelerating the Renewable Revolution

As the world gears up for this doubling of renewable capacity, Clearvolt’s innovative zero CapEx solar energy solution emerges as a key player in this transformation. By absorbing the initial costs of solar installations, Clearvolt enables businesses to join this renewable revolution without financial strain. This approach not only aligns with corporate sustainability goals but also allows companies to enjoy immediate cost savings and improved ESG profiles with zero CapEx required. As we march towards a future of 7.3 terawatts of renewable capacity, Clearvolt stands as a testament to the power of innovative business models in driving sustainable change.

Up Next: Tripling Renewable Capacity for Climate Goals

In the next blog, we’ll delve into the need for tripling renewable energy capacity to meet global climate objectives, and how Clearvolt’s business model can play a crucial role in this ambitious endeavour.

Source:

Altieri, K., Jones, D., Lee, U. and Zaimoglu, O., 2023. Tracking National Ambition Towards A Global Tripling Of Renewables. [online] Available at: https://ember-climate.org/app/uploads/2023/11/Report-Tracking-national-ambition-towards-a-global-tripling-of-renewables.pdf