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Renewables Will Be The Global Leader In Electrical Energy Generation By 2025

GLOBAL REPORT CARD: From 2022-2023 renewable energy supply from solar, wind, hydro, geothermal and ocean rose by close to 15%, meaning that the share of these technologies in total global energy supply increased by close to 8%. Modern bioenergy's share in 2023 increased by 2 percentage points, reaching 8.8%.

The share of renewables in the global power mix has increased by 10 percentage points since 2010 to nearly 30%. In 2022, the share of renewables in the global power mix in 2023 increased again (+3.5 pt.) to 33%, i.e., 13.5 pts. above the 2010 level. Globally, renewables made up 29 percent of electricity generation in 2020, much of it from hydropower (16.8 percent). A record amount of over 256 GW of renewable power capacity was added globally during 2020. The trend of 2023 includes massive expansion of Hydropower but the fastest area of investment is Solar generated energy especially advanced battery tech as the adjunct to solar expansion. With the new solar and wind projects coming online in 2024, most firms investment and tech forecast these two energy sources will account for 20% of total generation in 2024, up from 14.7% in 2022 and 8% in 2018. If this exponential trend continues we could see 40% global power generation before 2030.

The global renewable energy market size was estimated at USD 1.21 trillion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 20.2% from 2024 to 2030.The U.S. electric power sector operated about 74 gigawatts (GW) of solar photovoltaic capacity at the end of 2022, which is about three times the capacity at the end of 2017. U.S. wind power has grown by more than 60% since 2017 to about 143 GW of capacity. Based on planned additions reported to EIA, solar capacity will expand another 63 GW (84%) by the end of 2024, which is consistent with its declining construction costs and favorable tax credits. As a result of this expected increase in solar capacity, we forecast that the solar generation share will rise from 3% of U.S. generation last year to 5% in 2023 and 6% in 2024. This puts the US behind the rest of the world that is actively speeding up expansion of renewables instead of equivocating in favor of denial of the inevitable.

Sweden is 8 years ahead of schedule in its track to be 100 percent renewable energy grounded by 2040! In 2022 Costa Rica produced a whopping 98% of its electricity from renewable sources for over eight years in a row. Currently, the UK is the global leader in offshore wind energy. It has more capacity installed than any other country, with offshore wind powering over 7.5 million homes. With a plan to increase this fourfold by 2030, this will go a long way to the government’s plan to decarbonise its power system by 2035.

In 2015 a combination of hydropower and geothermal power provided almost 100% of Iceland’s electricity production. In fact, geothermal power heats 9 out of 10 homes and Iceland is among the top ten global producers of geothermal energy in the world The UN has even suggested their transition could provide a model for other countries to make the switch. In 2022, Germany’s new Government set their self-described ‘biggest energy policy reform in decades’ during their first 100 days in government. What’s so special about it? Renewables sit at the centre with targets of 80% renewable power by 2030 and close to 100% by 2035. decades of transformation have resulted in Uruguay generating 91% of all their electricity from renewable sources in 2022. Between 2013 to 2018 Uruguay increased its wind power from 1% to 34% of its electricity mix in five years – the fastest any country has achieved over that timeframe.

Kenya is home to Lake Turkana Wind Power Project, currently Africa’s largest wind farm. With over 310 MW of capacity – enough to supply energy to one million homes! The project also attracted the largest private investment in Kenya’s history $650 million. Africa has huge renewable energy potential – home to 60% of the best solar resources globally. Currently there are 25 nations in Africa actively embracing hydro solar and wind power!

It may seem counter-intuitive, but China is the global renewable energy leader hosting nearly half of the world’s total operating wind and solar capacity. China is on track to double its utility-scale solar and wind power capacity, shattering the central government’s ambitious 2030 target of 1,200 GW five years ahead of schedule. They’re also the biggest investor in renewable energy worldwide, where nearly half of the world’s low-carbon spending took place in China in 2022 (US$546 billion).

"We need to exit the age of fossil fuels, reinvent our energy landscape, rethink how we do almost everything. We need collective action at every scale from local to global – and the good people already at work on all those levels need help in getting a city to commit to clean power or a state to stop fracking or a nation to end fossil-fuel subsidies. The revolution won’t happen by people staying home and being good.

But the oil companies would like you to think that’s how it works. It turns out that the concept of the “carbon footprint”, that popular measure of personal impact, was the brainchild of an advertising firm working for BP. As Mark Kaufman wrote this summer...":

"British Petroleum, the second largest non-state owned oil company in the world, with 18,700 gas and service stations worldwide, hired the public relations professionals Ogilvy & Mather to promote the slant that climate change is not the fault of an oil giant, but that of individuals. It’s here that British Petroleum, or BP, first promoted and soon successfully popularized the term “carbon footprint” in the early aughts. The company unveiled its “carbon footprint calculator” in 2004 so one could assess how their normal daily life – going to work, buying food, and (gasp) traveling – is largely responsible for heating the globe."

"The main reason to defeat the fossil fuel corporations is that their product is destroying the planet, but their insidious propaganda, from spreading climate-change denial to pushing this climate footprint business, makes this goal even more worthwhile." (Rebbecca Solnit Writer The Guardian)

Morocco has harnessed the power of its ample sun supply to become a world leader in solar energy. It’s home to the world’s biggest concentrated solar farm, the Noor-Ouarzazate complex in the Sahara desert which has a capacity of 580 MW. The farm is the size of 3,500 football fields.For a look down under we find that 84% of New Zealand’s electricity usage is renewable. New Zealand has set a target for 50% of total energy consumption from renewable sources by 2030, and 100% renewable electricity by 2035.

As of 2016, 98% of electricity generation in Norway came from renewables, with hydropower leading the charge. They’ve been harnessing power from rivers and waterfalls since the late 1800s, so it’s easy to see how this natural resource has been a critical part of Norway’s power profile. Over the years they’ve also added thermal and wind energy to the mix.When leaders set ambitious goals for renewable energy and support them with investments, the benefits come fast.

Switching to renewable energy doesn’t just drive down emissions, the transition also contributes to a secure economy, a growing jobs market and the creation of a reliable and resilient energy system. The USA is failing in its switch to green energy and that failure will have economic consequences.Failure to slow global warming WILL wipe out on average 2,000,000 U.S jobs every year over the next half-century, Deloitte's January 2022 study assessed the figure at around 1 million but the prognosis is not good from anybodies perspective. The economic damage would also wipe nearly $1,000,000 from every working Americans' lifetime earnings. The average American earns approximately $1.7 million over their lifetime. This figure is derived from the median American salary, which hovers around $50,000 annually. Assuming an average working span of 20 years, this gives us our lifetime figure.

As the global mean temperature rises, various sectors will be adversely impacted, such as agriculture, crime, coastal storms, energy, human mortality and labor. Taken together, these effects could cost roughly 10 percent of GDP (Gross Domestic Product) for every 1°F increase in temperature on average.What is a Gross Domestic Product you ask? The GDP is a comprehensive measure of U.S. economic activity. GDP measures the value of the final goods and services produced in the United States (without double counting the intermediate goods and services used up to produce them).For context, during the two years of the Great Recession, real GDP fell by 4.3 percent, unemployment rose to 10 percent, and the economy lost Billions causing us to default on paying what we as a nation are responsible for paying, that affected the most vulnerable the hardest. Finally, a default—or even just the threat of one—would have a devastating impact on our economy that leaves no one but the richest Americans unscathed. Refusal to go green is saying In America only the rich matter.

For example, the Federal government keeps our country safe by paying the salaries of 1.4 million active duty military personnel and their families. The deployment of personnel, the maintenance of equipment, the procurement of supplies, and other support activities would risk being frozen after a default, hampering the defense of the country at a time when there are ample threats to national security. The same holds for expenses related to counter-terrorism and intelligence measures, which could leave America more vulnerable to potential threats. This is exactly what led to the fall of ancient Rome the greed of its Senators who allowed foreign troops to take over their military to save money while the Judicial system became corrupt and allowed the wealthy to take the lands of the poor. The dollar is a global reserve currency and U.S. bonds are seen as one of the most stable investments on the planet. So if the U.S. cannot pay its creditors, interest rates on U.S. debt would go up, creating a cascade of higher interest rates. So mortgage rates, credit card rates, car loan rates all would go up while value of the dollar goes down as well as salaries.

Other critical day-to-day services would also be under threat, including the operation of our national parks, mail delivery, consular services in other countries (which support American residents abroad), and air traffic control—which would ground passenger and cargo planes. Constitutionally Freedom of movement is guaranteed to "everyone" in regard to leaving the country but is limited to citizens when entering it or staying in it thus the ability of police to stop and question anyone based on their appearance or race. Citizens also have a right to a passport, critical to full exercise of the freedom of movement internationally.It's difficult to know how much oil is actually left on the planet and there’s quite a bit of disagreement on when exactly we’ll run out. However, as of 2023, there should be enough oil left to meet global demand for at least 27 more years. The problem is the world may not have that long until the effects of Climate Change become unreversible.


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