“Renewable Energy Market to Garner $2,152 Billion by 2025, Reveals Report” • According to a report published by Allied Market Research, renewables industries will very likely result in an impressive growth for the entire market. It projects the global renewable energy market is to reach in excess of $2,152 billion by 2025. [Interesting Engineering]
Renewable energy and energy efficiency are sometimes said to be the "twin pillars" of sustainable energy policy. Both resources must be developed in order to stabilize and reduce carbon dioxide emissions. Efficiency slows down energy demand growth so that rising clean energy supplies can make deep cuts in fossil fuel use. If energy use grows too fast, renewable energy development will chase a receding target. A recent historical analysis has demonstrated that the rate of energy efficiency improvements has generally been outpaced by the rate of growth in energy demand, which is due to continuing economic and population growth. As a result, despite energy efficiency gains, total energy use and related carbon emissions have continued to increase. Thus, given the thermodynamic and practical limits of energy efficiency improvements, slowing the growth in energy demand is essential. However, unless clean energy supplies come online rapidly, slowing demand growth will only begin to reduce total emissions; reducing the carbon content of energy sources is also needed. Any serious vision of a sustainable energy economy thus requires commitments to both renewables and efficiency.
A: A residential solar PV system can cost anywhere from $25,000 to $35,000, on average. Because of the high cost, a power purchase agreement (PPA), loan, or lease are popular options for financing a solar PV system. Naturally, there are benefits and drawbacks with each option. We won’t cover them in detail here, but you can learn more in our article “Financing Options for Solar Power Explained.”
Geothermal energy is produced by tapping into the thermal energy created and stored within the earth. It arises from the radioactive decay of an isotope of potassium and other elements found in the Earth's crust. Geothermal energy can be obtained by drilling into the ground, very similar to oil exploration, and then it is carried by a heat-transfer fluid (e.g. water, brine or steam). Geothermal systems that are mainly dominated by water have the potential to provide greater benefits to the system and will generate more power. Within these liquid-dominated systems, there are possible concerns of subsidence and contamination of ground-water resources. Therefore, protection of ground-water resources is necessary in these systems. This means that careful reservoir production and engineering is necessary in liquid-dominated geothermal reservoir systems. Geothermal energy is considered sustainable because that thermal energy is constantly replenished. However, the science of geothermal energy generation is still young and developing economic viability. Several entities, such as the National Renewable Energy Laboratory and Sandia National Laboratories are conducting research toward the goal of establishing a proven science around geothermal energy. The International Centre for Geothermal Research (IGC), a German geosciences research organization, is largely focused on geothermal energy development research.
Other cities won’t have it so easy. Take Atlanta. Residents buy energy from Georgia Power, which is owned by investors. As things stand, Atlantans have no control over how their power is generated, though that may change. In 2019, Georgia Power, by state law, has to update its energy plan. Ted Terry, director of the Georgia chapter of the Sierra Club, says the nonprofit is working with Atlanta officials to incorporate renewables, primarily solar, into the state’s plan. Developing such energy sources on a scale that can power a metro area with 5.8 million people, as in Atlanta, or 7.68 million in the San Francisco Bay Area, or 3.3 million in San Diego, will prove challenging. But it doesn’t seem impossible. In 2015, California set a goal of deriving 50 percent of its energy from renewable sources by 2030. Its three investor-owned utilities—Pacific Gas & Electric, Southern California Edison and San Diego Gas & Electric—are poised to achieve that goal just two years from now, or ten years early.
Wind turbines need wind. Not just any wind, but the nicely flowing, smooth, laminar kind. That cannot be found at 30 feet height. It can usually not be found at 60 feet. Sometimes you find it at 80 feet. More often than not it takes 100 feet of tower to get there. Those towers cost as much or more, installed, as the turbine itself. How much tower you need for a wind turbine to live up to its potential depends on your particular site; on the trees and structures around it etc. Close to the ground the wind is turbulent, and makes a poor fuel for a small wind turbine.
Large national and regional research projects on artificial photosynthesis are designing nanotechnology-based systems that use solar energy to split water into hydrogen fuel. and a proposal has been made for a Global Artificial Photosynthesis project In 2011, researchers at the Massachusetts Institute of Technology (MIT) developed what they are calling an "Artificial Leaf", which is capable of splitting water into hydrogen and oxygen directly from solar power when dropped into a glass of water. One side of the "Artificial Leaf" produces bubbles of hydrogen, while the other side produces bubbles of oxygen.
The life-cycle greenhouse-gas emissions of solar power are in the range of 22 to 46 gram (g) per kilowatt-hour (kWh) depending on if solar thermal or solar PV is being analyzed, respectively. With this potentially being decreased to 15 g/kWh in the future. For comparison (of weighted averages), a combined cycle gas-fired power plant emits some 400–599 g/kWh, an oil-fired power plant 893 g/kWh, a coal-fired power plant 915–994 g/kWh or with carbon capture and storage some 200 g/kWh, and a geothermal high-temp. power plant 91–122 g/kWh. The life cycle emission intensity of hydro, wind and nuclear power are lower than solar's as of 2011 as published by the IPCC, and discussed in the article Life-cycle greenhouse-gas emissions of energy sources. Similar to all energy sources were their total life cycle emissions primarily lay in the construction and transportation phase, the switch to low carbon power in the manufacturing and transportation of solar devices would further reduce carbon emissions. BP Solar owns two factories built by Solarex (one in Maryland, the other in Virginia) in which all of the energy used to manufacture solar panels is produced by solar panels. A 1-kilowatt system eliminates the burning of approximately 170 pounds of coal, 300 pounds of carbon dioxide from being released into the atmosphere, and saves up to 105 gallons of water consumption monthly.
We now know that the electrical generator provides a means of energy conversion between the mechanical torque generated by the rotor blades, called the prime mover, and some electrical load. The mechanical connection of the wind turbine generator to the rotor blades is made through a main shaft which can be either a simple direct drive, or by using a gearbox to increase or decrease the generator speed relative to the rotational speed of the blades.
The conversion of the rotational mechanical power generated by the rotor blades (known as the prime mover) into useful electrical power for use in domestic power and lighting applications or to charge batteries can be accomplished by any one of the following major types of rotational electrical machines commonly used in a wind power generating systems:
Photovoltaic systems use no fuel, and modules typically last 25 to 40 years. Thus, capital costs make up most of the cost of solar power. Operations and maintenance costs for new utility-scale solar plants in the US are estimated to be 9 percent of the cost of photovoltaic electricity, and 17 percent of the cost of solar thermal electricity. Governments have created various financial incentives to encourage the use of solar power, such as feed-in tariff programs. Also, Renewable portfolio standards impose a government mandate that utilities generate or acquire a certain percentage of renewable power regardless of increased energy procurement costs. In most states, RPS goals can be achieved by any combination of solar, wind, biomass, landfill gas, ocean, geothermal, municipal solid waste, hydroelectric, hydrogen, or fuel cell technologies.
2010 was a record year for green energy investments. According to a report from Bloomberg New Energy Finance, nearly US $243 billion was invested in wind farms, solar power, electric cars, and other alternative technologies worldwide, representing a 30 percent increase from 2009 and nearly five times the money invested in 2004. China had $51.1 billion investment in clean energy projects in 2010, by far the largest figure for any country.
Based on REN21's 2017 report, renewables contributed 19.3% to humans' global energy consumption and 24.5% to their generation of electricity in 2015 and 2016, respectively. This energy consumption is divided as 8.9% coming from traditional biomass, 4.2% as heat energy (modern biomass, geothermal and solar heat), 3.9% hydro electricity and 2.2% is electricity from wind, solar, geothermal, and biomass. Worldwide investments in renewable technologies amounted to more than US$286 billion in 2015, with countries such as China and the United States heavily investing in wind, hydro, solar and biofuels. Globally, there are an estimated 7.7 million jobs associated with the renewable energy industries, with solar photovoltaics being the largest renewable employer. As of 2015 worldwide, more than half of all new electricity capacity installed was renewable.
In a twist that has some Republicans in this oil- and gas-rich state whistling Dixie, Ross is now friends with Al Gore, who featured Ross in An Inconvenient Sequel, the 2017 follow-up to An Inconvenient Truth, his Oscar-winning documentary about global warming. “We bonded right away,” Ross recalls. “I said, ‘Mr. Vice President, we’ve got a lot in common. You invented the internet. I invented green energy.’” Trained as an accountant, Ross still works as one—being mayor of Georgetown is a part-time job—and there’s no mistaking his zeal for the other kind of green. When conservatives complain about his energy politics, he is quick to remind them that the city has the lowest effective tax rate in Central Texas.
Solar power is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV), indirectly using concentrated solar power, or a combination. Concentrated solar power systems use lenses or mirrors and tracking systems to focus a large area of sunlight into a small beam. Photovoltaic cells convert light into an electric current using the photovoltaic effect.