Obstacles to renewables growth can be addressed
Supply chain resilience, intermittency issues and ageing grids all stand in the way of decarbonising power supply
The amount of electricity generated by wind and solar will have to rise dramatically by 2050 in order to reach the goals of the Paris Agreement, according to figures from consultancy Rystad Energy. The bulk of growth will come from solar, where annual installations will have to grow sixteenfold, to a peak of 2,200GW/yr in 2039. Meanwhile, wind will have to grow ninefold to reach 553GW/yr in the same year. “We can overcome these challenges” Frimann-Dahl, Rystad Energy Overall, solar and wind will each require $1tn/yr to grow to supply 88pc of electricity demand globally by 2050, up from 10pc currently. The main challenges in reaching this goal are: supply chain resilience, intermitten
Also in this section
10 May 2024
Launch of project powered by geothermal energy in Iceland marks step forward in push to scale up expensive direct-air-capture technology
8 May 2024
Allowance prices rise 34% since start of year as regulator imposes tighter limits and considers reduction of free allocations
7 May 2024
Policymakers should consider backing enhanced weathering as a CDR technique with benefits to the agricultural sector
3 May 2024
Developers look to government’s forthcoming budget to restore support as industry suffers loss of momentum