The good news is that most of these efforts aren’t working. In fact, investments in green power continue to soar all over the globe.
According to Faith Birol, executive director of the International Energy Agency,
“We are witnessing a transformation of global power markets led by renewables and, as is the case with other fields, the center of gravity for renewable growth is moving to emerging markets.”
And by 2021, the agency predicts that worldwide renewable power generation will exceed 7,600 terawatt-hours. In layman’s terms, this represents enough clean energy to cover the electricity requirements of the US and EU – combined.
Why Are These Investments in Green Power Happening?
The “why” is easy enough to understand. Fossil fuel resources like oil, gas, and coal are all finite. And as populations continue to expand, we are rapidly approaching the limits of what we’re able to extract from the ground. Worse still, burning these resources emits a tremendous amount of CO2 and other harmful toxins into the atmosphere.
By contrast, renewable power sources like solar, wind, and geothermal are infinite. The global population might continue to grow, but we can easily bring on more green energy capacity to meet new demand for electricity.
Furthermore, while fossil fuel continues to become more expensive with time, harnessing clean power is becoming cheaper and cheaper.
This explains why over 500,000+ solar panels are installed every single day.
And by 2050, solar energy could become the world’s #1 source of electricity.
We could probably reach that threshold even sooner if utilities stopped fighting against renewable power.
Then again, utilities never anticipated international initiatives like the Paris Climate Summit. Thanks to this historic agreement, many countries are now doubling down on their green commitments. And the market continues to respond favorably, with increased investments into sustainable technologies that benefit humanity and protect the planet.
What we like most about this global green push is that individual actors can get involved. As a homeowner, you don’t have to wait for top-down solutions from elected officials. You have the ability to install your own solar panels and begin harnessing free sunshine.
To learn how we can help you with this transition, contact us today for a free consultation.