Plate/ GCGC Bonus News Letter - 12/15/22 - Renewable energy explained, types of renewable energy, and how we fund renewable energy projects.
Siva Pillarisetty
Marketing Manager in the USA at Golden Crown USA, Inc. - International Project Funding
Acodring to WIKI: Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat.Although most renewable energy sources are sustainable, some are not. For example, some biomass sources are considered unsustainable at current rates of exploitation. Renewable energy often provides energy for electricity generation to a grid, air and water heating/cooling, and stand-alone power systems. Renewable energy technology projects are typically large-scale, but they are also suited to rural and remote areas and developing countries, where energy is often crucial in human development. Renewable energy is often deployed together with further electrification, which has several benefits: electricity can move heat or objects efficiently, and is clean at the point of consumption. In addition, electrification with renewable energy is more efficient and therefore leads to significant reductions in primary energy requirements.
From 2011 to 2021, renewable energy has grown from 20% to 28% of global electricity supply. Fossil energy shrunk from 68% to 62%, and nuclear from 12% to 10%. The share of hydropower decreased from 16% to 15% while power from sun and wind increased from 2% to 10%. Biomass and geothermal energy grew from 2% to 3%. There are 3,146 gigawatts installed in 135 countries, while 156 countries have laws regulating the renewable energy sector. In 2021, China accounted for almost half of the global increase in renewable electricity. Globally there are over 10 million jobs associated with the renewable energy industries, with solar photovoltaics being the largest renewable employer.[13] Renewable energy systems are rapidly becoming more efficient and cheaper and their share of total energy consumption is increasing, with a large majority of worldwide newly installed electricity capacity being renewable. In most countries, photovoltaic solar or onshore wind are the cheapest new-build electricity. Many nations around the world already have renewable energy contributing more than 20% of their total energy supply, with some generating over half their electricity from renewables. A few countries generate all their electricity using renewable energy. National renewable energy markets are projected to continue to grow strongly in the 2020s and beyond. Studies have shown that a global transition to 100% renewable energy across all sectors – power, heat, transport and desalination – is feasible and economically viable. Renewable energy resources exist over wide geographical areas, in contrast to fossil fuels, which are concentrated in a limited number of countries. Deployment of renewable energy and energy efficiency technologies is resulting in significant energy security, climate change mitigation, and economic benefits.
However renewables are being hindered by hundreds of billions of dollars of fossil fuel subsidies. In international public opinion surveys there is strong support for renewables such as solar power and wind power. But the International Energy Agency said in 2021 that to reach net zero carbon emissions more effort is needed to increase renewables, and called for generation to increase by about 12% a year to 2030.[27] 47% of respondents to a 2022 European survey from the European Union and the United Kingdom (45%) want their government to focus on the development of renewable energies. This is compared to 37% in both the United States and China when asked to list their priorities on energy. 46% of respondents from China believe that diversifying energy sources should be a top priority, compared to 34% respondents from the European Union, 35% from the United Kingdom, and 39% from the United States. The German government is actively encouraging solar and wind energy to decrease the dependability of conventional energy sources like coal and boost the share of clean energy.[31] Expanding renewable energy sources (37%) and diversifying energy suppliers (39%) is more evenly distributed among American respondents.
Why renewable energy is the future? Google says - Cheap electricity from renewable sources could provide 65 percent of the world's total electricity supply by 2030. It could decarbonize 90 percent of the power sector by 2050, massively cutting carbon emissions and helping to mitigate climate change.
What are the 7 types of renewable energy ACCODING TO GOOGLE?
The most popular renewable energy sources according to google currently are:
We fund the above types and more.
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