In two-thirds of countries across the globe, wind and solar power are now the cheapest way to add new power and will make up almost half of the electricity system by 2050. This is a huge achievement, as this advancement in technology will help keep global temperatures from rising more than 2°C by 2030. Investment in wind during that period is estimated at USD 5.3 trillion, while in solar it will be of about USD 4.2 trillion
With an expected 62% increase in electricity demand by 2050, it was important that we established energy technologies that are naturally replenished on a human timescale. Through wind and solar sources of energy, this is a cleaner, and often cheaper, variant of power that once deployed, will provide nations with excellent opportunity to thrive.
Why has the demand for renewable energy increased?
With the continued increase in climate change and global warming concerns, along with the fall in the costs of some renewable energy equipment, such as wind turbines and solar panels, this is driving the increased use of renewables. Nations and countries across the globe are constantly looking to produce more viable sources of electricity, with solar energy being seen as a long-term investment by households and businesses alike.
Just as an example, solar energy is becoming increasingly more affordable which can be attributed to many factors, such as a rise in demand and a drop in production costs. This rapidly declining cost is a sign that the world may be on the verge of a dramatic change in how we power our buildings and vehicles.
One of the most significant renewable energy nations is South Africa, who are utilising the development of technology in order to achieve 9600 MW of solar power capacity by 2030. The Phelan Energy Group have been contributing to this boost of interest significantly, having 175 MW grid-connected in South Africa. Being the largest solar PV plant in the southern hemisphere and the fifth-largest in the world, this
Asia has also been heavily invested in the solar energy industry, especially due to their huge and rapidly developing population, which means they are constantly looking to increase the proportion of renewable energy in its power mix.
India is another country with the largest production of energy from renewable sources, with one of the most ambitious renewable capacity expansion programs in the world. India’s renewable energy capacity has crossed the 80GW-mark, which includes 29.55 GW of solar energy and 36.37 GW wind power. The development of wind power in India began in the 1990s, and has significantly increased in the last few years.
About The Phelan Energy Group
We are an established business that is very proud of our continuing international penetration of the renewable energy world. We are a world leader in low-cost energy development with an exclusive focus on Solar PV. We are very committed to all the work we do and are currently focusing on markets in Africa, the Middle East, Asia, Eastern Europe, Australia and Latin America – so you know we are the company you need to contact today.
If you would like to have a chat with a member of our team – give us a call on +353 1 669 4680. Alternatively, send an email to firstname.lastname@example.org and someone will get back to you as soon as possible to discuss how we can best meet your requirements.