According to data released by the International Renewable Energy Agency IRENA, more than a third of the world’s electricity is renewable energy. With the rapid growth of new and renewable energies such as wind, solar, and hydro power around the world, more renewable energies are being used than ever before.
From 2018 to 2019, the introduction of new and renewable energy slowed somewhat, but the proportion of new and renewable energy from the increased energy increased due to the lack of new fossil fuel infrastructure. It is reported that 72% of all new energy sources introduced globally in 2019 were renewable energy.
Most of the newly introduced renewable energy is concentrated in Asia, accounting for 54% of the total capacity of renewable energy last year. New generation of fossil fuel power plants increased in Asia, the Middle East and Africa, but the number of fossil fuel power plant shutdowns in the United States and Europe outpaced the number of new ones.
Of course, it’s still not enough. According to IRENA data, to avoid climate catastrophe, the world must double its investment in renewable energy by 2030. It is welcome for the US and European countries to shut down fossil fuel plants. However, it is difficult to get rid of fossil fuels at all in areas where a large amount of energy is required to meet all basic needs. For example, in Africa, the world’s poorest continent, the capacity of renewable energy increased by only 4% last year.
All renewable energy conversions cost trillions of dollars, but building more fossil fuel infrastructure and increasing emissions can reduce the cost required. That’s why they say it’s time to put money on renewable energy. However, at the World Wind Energy Conference, he also expressed a sense of caution, saying that it must interfere with the global supply chain and project execution due to the Corona 19 epidemic for wind power generation in March 2020. In fact, there are reports that India may delay plans to build a solar power plant due to Corona 19.
Under these circumstances, it is possible to promote energy conversion to emit pollutants by providing financial incentives for investment in renewable energy. Related information can be found here .