It is now well known that non-renewable energies are not going to last forever. These will run out in future, causing several types of global crisis. Renewables are the only thing in sight that can lead the future. However, there are certain reasons renewables can save the planet. Check out what backs up these hopes.
Higher availability of solar and wind power
If you look at the growth of renewable energy, then you will notice a significant expansion in its availability over the last few years. As compared to the year 2007, there is around 15 times more solar energy available currently. This growth is seen three times in case of wind power. The increased capacity of renewable energy across the entire world has infused good hope for future.
Declining cost of renewables
It is not only the cost of turbines and solar panels that has decreased over the last decade, but it is also the cost of producing wind or solar power that has come down significantly. This factor makes renewables the cheapest source of electricity in developed, as well as developing countries. In fact, the renewable energy cost has become lower than that of fossil fuels. If the case of solar power is noticed, then this cost is largely competitive against traditional energy and that too, without considering subsidies.
Increasing shares of several countries
If you look at countries that are OECD members, then you will find them using renewable energy in their mainstream. However, other countries have also started increasing their renewables capacity. There are many individual countries that have been holding a high share of solar, wind, and other renewables.
For example, Spain has wind power as its major energy source that beats gas, coal and even nuclear. The International Energy Agency states that any country can now reach a high share of solar or wind in an affordable manner.
According to the International Energy Agency, more than 20 percent of the world’s electric power is now derived from renewables. This displays the power production being done by renewables.
In support of it, it is also noteworthy that the deployment and scaling up of renewable energy generation facilities is also easier as compared to traditional power plants. No wonder it is giving rise to countries that are depending more on renewables, as well as to an increase amount of investment being done in this sector.
The fast growth of renewable energy facilities and production, as well as lowering costs and increasing investment have all been making renewable energy a great hope for sustainable future.