Key Trends That Will Shape Renewable Energy in 2018 and Even After
What Is Renewable Energy?
Renewable energy is generated from natural resources – such as sunlight, wind, rain, tides and geothermal heat and various forms of biomass.
Most renewable energy comes either directly or indirectly from the sun. Sunlight, or solar power, can be used directly for heating and lighting homes and other buildings, for generating electricity, and for hot water heating, solar cooling, and a variety of commercial and industrial uses like producing solar & renewable energy products.
In The New Era
Today, a fifth of the world's electricity is produced by renewable energy. The figure below shows the change in primary energy demand in 2016. It was the first year in history that added solar capacity, and it outstripped any other electricity-producing technology. There were more clean energy installations which also lead to the creating a better future for solar and renewable energy products, but about 10% more was done in 2015, keeping the costs four quaters lower than the current one.
New solar power gave the biggest boost, providing half of all new capacity; followed by wind power, which gave 15%.
Success is through making right decisions
It is that time where we need renewable energy more than ever as the global environment continues to face many challenges and stands at a critical juncture. It is a worldwide phenomenon which is rapidly increasing, and it can improve many industrial operations. For renewable energy to advance and bring forth a sustainable future for the world – As a solution, priorities need to be set, and the right decisions need to be taken. Careful protection and introduction of laws, promoting more of renewable energy and public & private partnerships, subsidies for the energy sector, liberalization, and balance between fair competitions around can all lead to progress.
New companies belonging to different parts of the world are all set to gain from investments in technology that are geared and planned in the energy sector. New companies or investors from different countries like China or other South Asian countries can contribute in the installation of a fully powered, stable and clean supply – combined with storage options and smart grids too.