Sources of Renewable Energy
Without a doubt, 2020 has been a year of surprises and firsts. However, did you know that it was also a year of unparalleled growth in the renewable energy industry?
Renewable electricity generation not only outpaced coal-fired energy generation for the first time, but also firmly established itself as the cheapest, at-scale, validated energy alternative available.
There are two major reasons that contribute to renewable energy. For starters, it is derived from renewable natural resources. Second, clean energy produces little or no greenhouse gas emissions (GHGs). Many people consider green energies to be novel. In truth, civili zation has relied on natural resources for power since learning how to cook over a pit, sail to new places using the power of the wind, and power the first factories with water wheels.
Money speaks, and renewable energy is the most cost-effective energy choice. And news is spreading that, by combining a number of fuels, green energy is often the most cost-effective energy alternative — even without government subsidies. The International Renewable Energy Agency (IRENA) published a study in May 2020 indicating that the cost of utility-scale solar photovoltaic (Solar PV) electricity — the most commonly installed, scalable, and cost-effective solar panel technology on the market today — has decreased by 82% since 2010. Over the same time frame, the prices of onshore and offshore wind fell by 39% and 29%, respectively.
As a result, decarbonisation of the power grid is not only feasible, but also cost-effective, which explains why renewable energy is replacing fossil fuels. According to the US Energy Administration, renewables accounted for more than 17% of the US energy mix in 2019 — almost double the 9% share in 2000. Conservative forecasts indicate that we will surpass 30% in the next ten years, by 2030.
The top five commercial renewable energy sources, in terms of market share and growth, are as follows:
- Wind
- Hydropower
- Solar
- Geothermal
- Emerging & Emissions Boosters
Wind Energy
With almost 60,000 large-scale wind turbines installed in 41 states and two to see where power is provided by you, wind energy contributes 7% of all U.S. electricity. Wind will be the №1 generation source in 2020, accounting for 44 percent of all new electric generating capacity, according to the Energy Information Administration.
Hydro power
Water, the giver of life, and its energy generation substitute, hydropower, are ranked second. Moving water energy — rivers, lakes, and ocean tides — accounted for 7% of overall electricity production, according to the National Hydropower Association. Hydropower is one of the world’s oldest energy sources. Moving water was used by farmers in ancient Greece to spin turbines and complete activities such as grain grinding.
Solar Energy
Another natural source of energy is the sun, which emits enough energy per second to meet the world’s energy demand for more than two hours. As a result, it comes as no surprise that solar energy generation, such as solar PV, is one of the fastest growing commercial green energy resources. The use of the sun for electricity has a long tradition, stretching back to 7 B.C., when humans first used it to light fires. Daryl Chapin, Calvin Fuller, and Gerald Pearson of Bell Labs created the first silicon PV and solar cells capable of turning enough of the sun’s energy into electricity to operate everyday electrical equipment in 1954.
Researchers predict that with all of the advances in solar technology, we could increase electricity generation by 700 percent by 2050. (Or sooner).
Geothermal
Geothermal energy (Earth’s heat) ranks fourth on our list of the top commercial clean energy sources. Normal hot water occurs at various temperatures and levels under the Earth’s surface. Wells a mile or more deep may be bored into these underground ponds to tap and carry the steam to the surface for use in a range of applications such as power generating, heating and cooling, and other direct uses.
Emerging & Emissions Boosters
The fifth item on our list covers advanced clean energy technology as well as inventions that do not solely produce energy. Rather, they supplement other green energy sources. The “boosters,” as we’ll call them, are all about addressing the intermittent nature of renewables like wind and solar, as well as lowering costs and pollution.