The swift rise of renewable energy: A driving force for the worldwide transformation of electricity

In recent years, there has been a substantial increase in the use of renewable energy sources, resulting in renewable energy now constituting more than 30% of the global electricity supply. Various causes are responsible for this transition, including its consequences and the difficulties associated with incorporating renewable energy into the worldwide power system. Various factors contribute to the adoption of renewable energy.

It is important to analyze the factors that promote the adoption of renewable energy, specifically focusing on environmental concerns. 

As stated in the 2018 report “Global Warming of 1.5°C” by the Intergovernmental Panel on Climate Change, the increasing recognition of climate change and its negative impacts has prompted worldwide initiatives to decrease carbon emissions. Renewable energy, known for its minimal greenhouse gas emissions, has become an important solution to combat climate change.

The International Renewable Energy Agency’s report “Renewable Power Generation Costs in 2019” confirms that renewable energy technologies, including solar photovoltaics (PV), wind turbines, and energy storage systems, have made significant progress in terms of cost reduction and efficiency improvement. As a result, renewable energy has become increasingly competitive with conventional energy sources.

According to the Renewable Energy Policy Network for the 21st Century’s “Renewables 2020 Global Status Report”, governments around the world have introduced different policies and incentives to encourage the use of renewable energy. These include feed-in tariffs, tax credits, renewable portfolio standards, and carbon pricing mechanisms.

The 30% Milestone has various connotations.

Energy security can be improved by diversifying the energy mix to include renewable sources. This reduces reliance on fossil fuels, which are affected by geopolitical uncertainties and price volatility, as highlighted in the International Energy Agency’s report “World Energy Outlook 2020”.

Furthermore, there exist several economic prospects. According to the United Nations Environment Programme’s report “Global Trends in Renewable Energy Investment 2019”, the renewable energy industry is now a major catalyst for economic growth, promoting innovation, generating employment, and attracting investments. Moreover, the decentralized characteristic of renewable energy promotes local economic growth and empowers communities.

Furthermore, it is imperative to take into consideration the societal advantages. According to the World Health Organization’s report “Household Air Pollution and Health”, the availability of clean and affordable energy has a positive impact on public health. It achieves this by decreasing air pollution and supplying electricity to disadvantaged communities, especially in rural regions of developing nations.

Various problems and possibilities must be taken into account.

According to the International Energy Agency, the irregular and unpredictable character of renewable energy sources, such as solar and wind, presents difficulties in maintaining a stable and reliable power infrastructure. Nevertheless, the progress in grid management technology and the creation of smart grids provide remedies to improve the incorporation of renewable energy sources.

The European Commission, in their report on “Clean Energy for All Europeans,” recognizes that effectively managing the fluctuation of renewable energy generation necessitates the use of scalable energy storage technology and flexible demand-side management measures. System flexibility can be improved by the utilization of battery storage systems, pumped hydro storage, and demand response programs.

According to the World Bank’s report on “RISE 2020: The Retail-Industry System Emissions model,” in order to increase the proportion of renewable energy in the electricity mix, it is necessary to have strong policy frameworks that give priority to long-term decarbonization objectives, encourage investments in renewable energy, and guarantee a fair transition for those affected.

Academicians assert that the increase in renewable energy is serving as a catalyst for a worldwide transition in the electrical industry. Solar photovoltaic (PV) systems are expected to have a substantial impact on the worldwide energy supply in the medium to long term, as discussed by Breyer et al. in their article “On the role of solar photovoltaics in global energy transition scenarios” published in Progress in Photovoltaics Research and Applications (2017). 

In the piece “The renewable energies technology surge: a new techno-economic paradigm in the making?” published in Futures (2013), Mathews explains that the shift towards renewable energy sources is becoming increasingly significant. This is not only due to the need to reduce carbon emissions, but also because of the economic benefits linked to renewable energy technologies.

Mathews also acknowledges that countries such as China have emerged as significant participants in renewable energy investments, namely in wind and solar photovoltaic (PV) systems.

Macknick et al. (2012) found that renewable energy sources, such as solar PV and wind, are not only transforming the energy sector but also impacting water consumption patterns, as stated in their article “The water implications of generating electricity: water use across the United States based on different electricity pathways through 2050” published in Environmental Research Letters.

The water impacts of electricity generation fluctuate depending on the specific energy pathways, highlighting the significance of adopting sustainable methods in energy production. In addition, the sporadic characteristics of renewable energy sources such as solar and wind require the advancement of energy storage systems to guarantee the stability of the power grid, as stated by Wen et al. in their publication “Engineering electrochemical surface for efficient carbon dioxide upgrade” in Advanced Energy Materials (2021). 

In their publication titled “Product environmental footprint (pef) of photovoltaic modules—lessons learned from the environmental footprint pilot phase on the way to a single market for green products in the European Union” in Progress in Photovoltaics Research and Applications (2017), Wade et al. acknowledged that the global push to reduce carbon emissions in the energy sector aligns with international agreements such as the Paris Agreement. They emphasized the necessity of significant increases in photovoltaic (PV) capacity in the coming decades.

The transition to renewable energy seeks to reduce carbon emissions and stimulate economic development, as highlighted by Hussain et al. in their article “Evaluating the impact of energy and environment on economic growth in BRI countries” published in Energy & Environment (2022). 

Investments in renewable energy have been shown to have a favorable effect on economic development, demonstrating a connection between sustainability and prosperity. In order to achieve ambitious climate goals, it is essential to have a combination of renewable energy sources. Among these sources, solar photovoltaic (PV) energy is emerging as a dominant and cost-effective solution. This information is based on the publication by Löffler et al., titled “Designing a model for the global energy system—genesys-mod: an application of the open-source energy modeling system (osemosys)” which was published in Energies in 2017. 

Integrating renewable energy into power systems can greatly reduce greenhouse gas emissions and decrease reliance on conventional fossil fuel plants (source: “An Application of Hunter-Prey Optimization for Maximizing Photovoltaic Hosting Capacity Along with Multi-Objective Optimization in Radial Distribution Network”, 2022). 

Furthermore, Shen et al. (2022) explored the relationship between renewable energy technologies and environmental sustainability in Africa. Their study, titled “Tracking environmental sustainability pathways in Africa: do natural resource dependence, renewable energy, and technological innovations amplify or reduce the pollution noises?”, suggests that renewable energy technologies have the potential to reduce environmental pollution and promote sustainability.

Ultimately, the swift rise in renewable energy is revolutionizing the worldwide electrical framework, offering a viable and environmentally-friendly substitute for traditional energy sources. As countries strive to meet climate goals and promote economic advancement, the shift to renewable energy sources such as solar photovoltaic (PV) and wind power is becoming increasingly imperative.