Global renewable energy trends. Solar and wind move from mainstream to preferred

Global renewable energy trends. Solar and wind move from mainstream to preferred

Renewable energy is rapidly becoming a preferred “mainstream” energy source

Having only recently been recognized as a “mainstream” energy source, renew-able energy is now rapidly becoming a preferred one. A powerful combination of  enabling  trends  and  demand  trends—evident  in  multiple  developed  and  developing  nations  globally—is  helping  solar  and  wind  compete  on  par  with  conventional sources and win.

THE  FIRST  ENABLER  is  that  renewables  are  reaching price and performance parity on the grid and at the socket. Second, solar and wind can  cost-effectively  help balance  the  grid.  Third,  new  technologies are honing the competitive edge of wind and solar.  

Demand from energy consumers has mostly co-alesced around three goals that the first three trends have enabled renewables to best fulfill. With varying degrees of emphasis on each goal, consumers are seeking the most reliable, affordable, and environ-mentally responsible energy sources . Chief  among  these  consumers  are cities  inte-grating   renewables  into  their  smart  city  plans, community  energy  projects  democratizing  access  to the benefits of renewables on and off the grid, emerging   markets  leading  the  deployment  of renewables on their path to development, and cor-porations expanding the scope of their solar and wind procurement.    These trends will likely continue to strengthen through two mutually reinforcing virtuous circles. The  deployment  of  new  technologies  will  help further  decrease  costs  and  improve  integration. This will enable a growing number of energy con-sumers  to  procure  their  preferred  energy  source and  accelerate  national  energy  transitions  across the world.

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