Renewable Energy Continues to Grow Worldwide

The term "clean energy" is broader than most people probably realize. While many believe that the term is a synonym for renewable energy, John David Kaweske, founder and CEO of Bio Clean Energy explains that it encompasses even more sources of energy. For instance, renewable energy includes energy derived from wind, solar, hydro, and geothermal sources, whereas clean energy also includes nuclear, clean coal, fuel cells, energy from waste, biofuels such as ethanol and wood pellets, and natural gas.

It is expected that by 2040 the world will add 1.7 billion new people to the planet. As a result of those new additions, along with rising income levels from those of us already here, by that time, energy demand is expected to expand by 25%. To meet this need, the world must continue investing in new energy supplies.

It is expected that the share of renewable energy that is being used globally will grow by a fifth in the next five years and reach 12.4 percent in 2023, the International Energy Agency (IEA) said in an annual report released on Monday.

Renewable energy sources will have the fastest growth in the energy sector, providing almost 30 percent of energy needs in 2023, compared with 24 percent in 2017.

During this period, it is envisaged that renewable sources will account for 70 percent of global energy production growth, followed by solar and wind energy, hydropower and bioenergy, according to the report.

Hydropower remains the largest source of renewable energy, and by 2023 it should meet 16 percent of global energy demand, followed by wind energy (six percent), solar energy (four percent) and bioenergy (three percent).

John David Kaweske highlights that 2017 was a record year for renewable energy. The highest solar power capacities, 97 gigawatts, and more than half of that number are related to China. China accounts for almost 45 percent of the global solar expansion, adds John David Kaweske.

In the meantime, for the second consecutive year, it has reduced the growth of new wind power capacity on land, especially in China and the US.

Solar technology will have the largest growth among renewable energy sources over the next six years, and it is expected that during this period 600 new gigawatts will be operational.