Green New Deal News

Renewables

Against the backdrop of climate crisis internationally, the 2020s are certainly about the switchover from fossil fuel, coal and such high carbon-burning fuel sources to renewables such as hydropower, solar energy, geothermal energy and wind power. Set to become literally the most massive technological shift the species globally has ever seen, financial forecasters and economists reckon the global renewable energy market surpassed $1 trillion in total value in 2018 and is growing at a rate of almost 9%...

Since this area of Green New Deal News is devoted to business, let’s drop the biggest numbers first: In 2018, the global renewable energy market was valued at $1.011 trillion. Making this even more thrillingly envy-inducing is the Market Watch forecast of a Compound Annual Growth Rate (CAGR) of 8.90% straight through to 2023.

And even the world’s largest consumer of non-renewable energy by far, the United States, is turning the corner on fossil fuel addiction: In April 2019, power generated from renewable energy sources represented 23% of the total power generated in the country that month, topping coal by 3%. Wind power and solar energy made up about 50% of the total renewable power generated, while hydroelectric comprised just over 42%.

The prime niche market within the renewables market is in batteries. Always the bugaboo of renewable energy sources to their toxicity and extremely high weight-to-wattage capacity, storage battery technology is growing by leaps and bounds. By the end of the 2020s, costs involved in energy storage dropped from between 10% for onshore wind farms to 35% for lithium-ion battery storage. These declines mean more batteries are bought by renewable energy producers and increasingly greater amounts of renewable energy are generated.

On top of this, the majority of state governments have mandated an increase in renewable energy production, and 10 state utility companies have set zero-carbon goals for 2030.

What else does the hip investor need? All things considered, renewables look like the safest bet in the green investment game. Keep up on the renewables business news and related green investment right here at GreenNewDealNews.com.