A study by the non-profit organization RMI and the Bezos Earth Fund found that by 2030, solar and wind power will provide 33% of the world's energy, up from the existing 12%.
This will make it possible to achieve climate goals to limit global warming, reports bne IntelliNews.
It is noted that the rapid deployment of renewable energy sources and batteries increases energy security and independence. In addition, it will contribute to the reduction of energy prices by approximately half, because the more RES facilities appear, the cheaper energy becomes
Eight countries have already increased solar and wind generation faster than needed to limit global warming to 1.5°C, the Systems Change Lab study found. Including:
- Uruguay;
- Denmark;
- Lithuania;
- Namibia;
- Netherlands;
- Palestine;
- Jordan;
- Chile
RMI emphasized that RES is currently in a phase of exponential growth. This has put the electricity system at a global "tipping point", making a return to fossil fuels difficult.
The article noted that the goal of the COP28 climate summit, which will be held in the fall of 2023 in the UAE, has almost been achieved. However, it is necessary to create conditions for:
- investments in power grids;
- optimization of issuing permits;
- improvement of the market structure;
- increasing energy storage capacity.
RMI projects that by 2030 solar and wind power will generate 12,000-14,000 TWh, three to four times the 2022 level. It will also help reduce demand for fossil fuel electricity by 30% compared to the 2022 peak.
It is noted that currently the leaders in the implementation of green technologies are China, Europe, the Middle East and Africa.
"The exponential growth of renewable electricity can be used to help developing countries get ahead of the curve and move faster to a cleaner and more affordable electricity system," said Bezos Earth Fund President and CEO Andrew Stehr.
According to RMI, the price of green energy will roughly halve again by 2030, down to $20 per MWh for solar, from more than $40 MWh today. Already today, renewable energy is the cheapest form of electricity in history.
According to BloombergNEF, the cost of renewable electricity has fallen dramatically over the past 10 years, overcoming a key barrier to widespread deployment. Costs for solar and batteries have fallen by 80% between 2012 and 2022, offshore wind by 73% and onshore by 57%.
Earlier, EcoPolitic wrote, that a new report by the International Energy Agency showed that the increase in the capacity of onshore wind power plants will reach a record 70% increase to 107 GW.
As EcoPolitic previously reported, US President Joe Biden said that the country will increase by 25% the use of solar energy, wind and batteries over the next four years.
