In the 2000s, solar and wind energy were both in vogue. Solar energy is growing much faster than wind power. 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 helps Germany be a leader for solar and wind. U.S. stimulus packages also include 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 worldwide trend in solar PV is the increase of solar power. The world has seen nearly double its solar PV capacity in the past decade. The world's solar PV power capacity stood at 167.047 GW in February 2018. China alone represents more than half the world's total capacity or capacity per person. Europe, America, and the Middle East make up less than 2% global PV capacity.
Increased wind power
Wind energy is a free and intermittent source of renewable energy that can be used in a number of ways. It takes up very little space and is therefore an excellent source. There are some limitations to wind power, such as its variability. 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.
In order to achieve the 20 percent goal by 2030, we need to increase our wind energy capacities. To reach this target, new transmission lines and wind turbine installations will need to be built and installed. By 2030, the goal is to have more than 40,000 MW of wind energy in the United States. Wind energy will provide enough electricity to power nearly 43 million American homes each year by 2020. Because wind energy can bring about economic growth, it is a significant opportunity. During the past decade, wind energy has provided $151 billion in investments, and the industry is expected to invest another $20 billion by 2021. Wind energy can save the environment from the pollution produced by other forms of energy.
Battery storage is increasing
A rise in battery storage capacity will prove vital for maintaining clean electricity supply as the world moves towards cleaner energy. The BNEF expects a global total of 365 gigawatts to be available by 2030. That's five times the amount projected for 2021. Up to now, the majority of grid-scale batteries storage projects have been built on Lithium technology. Li-ion cells have many advantages, including their versatility.
The U.S. would see a 10x increase in battery storage capacity by 2025. That will add 10,000 MW to America's grid. According to Energy Storage Association data, industry growth has been rapid in the past year. This could allow for even higher projected capacity. This growth could be an indicator of major growth in the storage industry in years to come.
Increase in biomass fuels
Biomass fuels in the United States are a major source for energy. They account for approximately 5% of primary energy use in 2021. Biomass fuels are made from wood, municipal waste and agricultural byproducts. These fuels can be used to produce electricity and are clean-burning.
Greenhouse gas emissions can be reduced by using biomass fuels as energy. The growth of the plant offsets any carbon dioxide released by burning. Burning wood, for example, releases approximately the same amount of carbon as burning fossil fuels. However, biomass offsets these emissions by its own growth. It takes many decades to reverse the carbon penalty caused by clearing forests for energy generation. Furthermore, biomass fuels are possible to be grown on land which was once used as food production.