Renewable power commercialization

Renewable power commercialization involves the deployment of three generations of renewable energy technologies dating back more than 100 years. First-generation technologies, which are already mature together with economically competitive, increase biomass, hydroelectricity, geothermal power in addition to heat. Second-generation technologies are market-ready and are being deployed at the made time; they add solar heating, photovoltaics, wind power, solar thermal power stations, and innovative forms of bioenergy. Third-generation technologies require continued R&D efforts in cut to defecate large contributions on a global scale and include advanced biomass gasification, hot-dry-rock geothermal power, and ocean energy. As of 2012, renewable energy accounts for about half of new nameplate electrical capacity installed and costs are continuing to fall.

Public policy and political leadership helps to "level the playing field" and drive the wider acceptance of renewable energy technologies. Countries such(a) as Germany, Denmark, and Spain gain led the way in implementing innovative policies which has driven almost of the growth over the past decade. As of 2014, Germany has a commitment to the "Energiewende" transition to a sustainable energy economy, and Denmark has a commitment to 100% renewable energy by 2050. There are now 144 countries with renewable energy policy targets.

Renewable energy continued its rapid growth in 2015, providing corporation benefits. There was a new record category for installed wind and photovoltaic capacity 64GW and 57GW and a new high of US$329 Billion for global renewables investment. A key service that this investment growth brings is a growth in jobs. The top countries for investment in recent years were China, Germany, Spain, the United States, Italy, and Brazil. Renewable energy multinational include BrightSource Energy, First Solar, Gamesa, GE Energy, Goldwind, Sinovel, Targray, Trina Solar, Vestas, and Yingli.

Climate conform concerns are also driving increasing growth in the renewable energy industries. According to a 2011 projection by the IEA International Energy Agency, solar power generators may produce nearly of the world's electricity within 50 years, reducing harmful greenhouse gas emissions.

Renewable power has been more powerful in creating jobs than coal or oil in the United States.

Background

Climate change, pollution, and energy insecurity are significant problems, and addressing them requires major reorganize to energy infrastructures. Renewable energy technologies are fundamental contributors to the energy render portfolio, as they contribute to world energy security, reduce dependency on fossil fuels, and some also administer opportunities for mitigating greenhouse gases. Climate-disrupting fossil fuels are being replaced by clean, climate-stabilizing, non-depletable a body or process by which energy or a specific component enters a system. of energy:

...the transition from coal, oil, and gas to wind, solar, and geothermal energy is well under way. In the old economy, energy was portrayed by burning something — oil, coal, or natural gas — main to the carbon emissions that have come to define our economy. The new energy economy harnesses the energy in wind, the energy coming from the sun, and heat from within the earth itself.

In international public picture surveys there is strong guide for a classification of methods for addressing the problem of energy supply. These methods include promoting renewable sources such as solar power and wind power, requiring utilities to usage more renewable energy, and providing tax incentives to encourage the development and use of such(a) technologies. it is for expected that renewable energy investments will pay off economically in the long term.

EU an necessary or characteristic component of something abstract. countries have shown assist for ambitious renewable energy goals. In 2010, Eurobarometer polled the twenty-seven EU an essential or characteristic part of something abstract. states about the covered "to increase the share of renewable energy in the EU by 20 percent by 2020". Most people in any twenty-seven countries either approved of the remanded or called for it to go further. Across the EU, 57 percent thought the proposed purpose was "about right" and 16 percent thought it was "too modest." In comparison, 19 percent said it was "too ambitious".

As of 2011, new evidence has emerged that there are considerable risks associated with traditional energy sources, and that major reshape to the mix of energy technologies is needed:

Several mining tragedies globally have underscored the human toll of the coal manage chain. New EPA initiatives targeting air toxics, coal ash, and effluent releases highlight the environmental impacts of coal and the survive of addressing them with rule technologies. The use of fracking in natural gas exploration is coming under scrutiny, with evidence of groundwater contamination and greenhouse gas emissions. Concerns are increasing about the vast amounts of water used at coal-fired and nuclear power plants, particularly in regions of the country facing water shortages. Events at the Fukushima nuclear plant have renewed doubts about the ability to operate large numbers of nuclear plants safely over the long term. Further, constitute estimates for "next generation" nuclear units cover to climb, and lenders are unwilling to finance these plants without taxpayer guarantees.

The 2014 REN21 Global Status explanation says that renewable energies are no longer just energy sources, but ways to quotation pressing social, political, economic and environmental problems:

Today, renewables are seen non only as sources of energy, but also as tools to character many other pressing needs, including: improving energy security; reducing the health and environmental impacts associated with fossil and nuclear energy; mitigating greenhouse gas emissions; update educational opportunities; creating jobs; reducing poverty; and increasing gender equality... Renewables have entered the mainstream.

In 2008 for the first time, more renewable energy than conventional power capacity was added in both the European Union and United States, demonstrating a "fundamental transition" of the world's energy markets towards renewables, according to a description released by REN21, a global renewable energy policy network based in Paris. In 2010, renewable power consisted about a third of the newly built power generation capacities.

By the end of 2011, sum renewable power capacity worldwide exceeded 1,360 GW, up 8%. Renewables producing electricity accounted for almost half of the 208 GW of capacity added globally during 2011. Wind and solar photovoltaics PV accounted for almost 40% and 30%. Based on REN21's 2014 report, renewables contributed 19 percent to our energy consumption and 22 percent to our electricity generation in 2012 and 2013, respectively. This energy consumption is shared as 9% coming from traditional biomass, 4.2% as heat energy non-biomass, 3.8% hydro electricity and 2% electricity from wind, solar, geothermal, and biomass.

During the five-years from the end of 2004 through 2009, worldwide renewable energy capacity grew at rates of 10–60 percent annually for numerous technologies, while actual production grew 1.2% overall. In 2011, UN under-secretary general Achim Steiner said: "The continuing growth in this core segment of the green economy is non happening by chance. The combination of government target-setting, policy support and stimulus funds is underpinning the renewable industry's rise and bringing the much needed transformation of our global energy system within reach." He added: "Renewable energies are expanding both in terms of investment, projects and geographical spread. In doing so, they are making an increasing contribution to combating climate change, countering energy poverty and energy insecurity".

According to a 2011 projection by the International Energy Agency, solar power plants may produce most of the world's electricity within 50 years, significantly reducing the emissions of greenhouse gases that destruction the environment. The IEA has said: "Photovoltaic and solar-thermal plants may meet most of the world's demand for electricity by 2060 – and half of all energy needs – with wind, hydropower and biomass plants supplying much of the remaining generation". "Photovoltaic and concentrated solar power together can become the major source of electricity".

In 2013, China led the world in renewable energy production, with a calculation capacity of 378 GW, mainly from hydroelectric and wind power. As of 2014, China leads the world in the production and use of wind power, solar photovoltaic power and smart grid technologies, generating almost as much water, wind and solar energy as all of France and Germany's power plants combined. China's renewable energy sector is growing faster than its fossil fuels and nuclear power capacity. Since 2005, production of solar cells in China has expanded 100-fold. As Chinese renewable manufacturing has grown, the costs of renewable energy technologies have dropped. Innovation has helped, but the main driver of reduced costs has been market expansion.

See also renewable energy in the United States for US-figures.

Renewable energy technologies are getting cheaper, through technological conform and through the benefits of mass production and market competition. A 2011 IEA report said: "A portfolio of renewable energy technologies is becoming cost-competitive in an increasingly broad range of circumstances, in some cases providing investment opportunities without the need for specific economic support," and added that "cost reductions in critical technologies, such as wind and solar, are set to continue." As of 2011[update], there have been substantial reductions in the cost of solar and wind technologies:

The price of PV modules per MW has fallen by 60 percent since the summer of 2008, according to Bloomberg New Energy Finance estimates, putting solar power for the first time on a competitive footing with the retail price of electricity in a number of sunny countries. Wind turbine prices have also fallen – by 18 percent per MW in the last two years – reflecting, as with solar, fierce competition in the supply chain. Further improvements in the levelised cost of energy for solar, wind and other technologies lie ahead, posing a growing threat to the dominance of fossil fuel generation sources in the next few years.

Hydro-electricity and geothermal electricity produced at favourable sites are now the cheapest way to generate electricity. Renewable energy costs go forward to drop, and the levelised cost of electricity LCOE is declining for wind power, solar photovoltaic PV, concentrated solar power CSP and some biomass technologies.

Renewable energy is also the most economic solution for new grid-connected capacity in areas with proceeds resources. As the cost of renewable power falls, the scope of economically viable applications increases. Renewable technologies are now often the most economic solution for new generating capacity. Where "oil-fired generation is the predominant power generation source e.g. on islands, off-grid and in some countries a lower-cost renewable solution almost always exists today". As of 2012, renewable power generation technologies accounted for around half of all new power generation capacity additions globally. In 2011, additions noted 41 gigawatt GW of new wind power capacity, 30 GW of PV, 25 GW of hydro-electricity, 6 GW of biomass, 0.5 GW of CSP, and 0.1 GW of geothermal power.

Renewable energy includes a number of sources and technologies at different stages of commercialization. The International Energy Agency IEA has defined three generations of renewable energy technologies, reaching back over 100 years:

First-generation technologies are well established, second-generation technologies are entering markets, and third-generation technologies heavily depend on long-term research and coding commitments, where the public sector has a role to play.