Imagine a world with renewable energy 24/7. Wind and solar farms, operating without curtailment on the grid, next to intermittent hydropower and inexpensive, safe battery storage systems.
No one is without electricity in this world. There is ample supply, in large and medium scale distributed generation corridors across the globe. Stand-alone systems are equally available for the remote customer who seeks peace and quiet from urban centers.
Urban centers are not dirty, nor smog filled. Electric vehicles have sufficient available and accessible recharging stations throughout communities.
In this green future, urban centers are transformed into clean, sustainable environments. The streets are free from the haze of pollution, as all vehicles glide silently, powered by batteries.
These electric vehicles are supported by an extensive network of charging stations, making eco-friendly transportation the norm.
The health benefits of this shift are profound; the air we breathe is pure, the waters of our seas and oceans are clear, teeming with life, and our lungs are no longer threatened by the perils of particulate matter.
The scars of traditional energy extraction methods, such as mining, are healed, leaving no trace of dust or dirt to mar the landscape.
The path to this renewable energy future is challenging. It requires unwavering commitment, a spirit of cooperation, and a dedication to transparency and truth.
Open data and crowdsourcing are pivotal in this journey, enabling a collective approach to problem-solving and innovation. As we progress towards this sustainable horizon, it’s clear that every step taken is a stride towards a healthier planet and a testament to human ingenuity and resilience.
Renewable energy, available every hour of every day, is not just a possibility—it is the blueprint for our future.
The vision of renewable energy 24/7 is a narrative of hope, a story of progress, and a testament to the power of collective action and technological advancement.
There has been a significant increase in renewable power capacity, with an estimated 36% growth in 2023, reaching a record 473 gigawatts globally, according to the REN21 Global Status Report 2024, prepared by the Paris-based renewable energy policy group REN21.
This growth is a testament to the ongoing commitment of countries around the world to transition towards more sustainable energy sources.
The economic benefits of the renewable energy sector are clear, with an 8% increase in employment in 2022, resulting in 13.7 million jobs, the report noted.
The future of energy is renewable, and it is imperative for all stakeholders to work together to harness the full potential of renewable resources.
This growth in the renewables job market reflects the sector’s resilience and its critical role in driving economic development.
Additionally, the number of people lacking electricity access globally decreased from 756 million in 2022 to 745 million in 2023, indicating progress in bridging the energy access gap.
Where there is progress, there are also challenges. Though there has been rapid progress on energy access across developing countries in Asia and the Pacific, still around 350 million in the region lack access to adequate electricity, and 63 million have no electricity at all.
The energy market is dynamic, influenced by shifting macroeconomic and geopolitical conditions, which pose significant challenges but also open new avenues for the uptake of renewable energy, according to the REN21 report.
One of the key challenges identified is the investment environment, which has been complicated by high interest rates and challenging market conditions, particularly in emerging markets. This has led to a slowdown in the global transition to renewables and exacerbated energy inequality.
Moreover, the reliance on a few regions for renewable energy components and critical minerals has raised concerns about supply chain disruptions and geopolitical dependencies.
Despite these challenges, the report also outlines several opportunities that could accelerate the adoption of renewable energy. The global agreement at COP 28 to triple renewable energy capacity by 2030, with commitments from 130 countries, is a testament to the strong international commitment to a sustainable energy future.
Additionally, energy security goals and industrial strategies are driving investment in renewables, while updated policies and targets are fostering the uptake of renewables in heavy industry and transport.
The concurrent booms in solar PV and electric vehicles offer a chance to create integrated energy ecosystems, enhancing energy independence and fostering innovation in smart grid and storage technologies.
Furthermore, the development of sector coupling solutions is improving system efficiency and opening new markets for renewable technologies.
Nations need to triple renewable power capacity by 2030 and double energy efficiency to usher in this renewable energy future. This ambitious goal is within reach, provided there is a concerted effort to address the financing challenges and infrastructure needs.
The future of energy is renewable, and it is imperative for all stakeholders to work together to harness the full potential of renewable resources.
Source: blogs.adb.org