4 keys to the future of renewable energy

Renewable energy has been acquiring great relevance for governments such as Spain or the United Kingdom or technology titans such as Amazon, Apple, Google, etc., therefore, we are seeing a sector that is receiving more attention, but, ¿ what to expect from your future? Here 4 keys:

1. An increase in renewable energy capacity

Although the number of new renewable energy installations is predicted to decline, global renewable energy capacity is set to grow and the IEA projects an increase of 6% to occur.

The majority of renewable energy projects delayed in 2020 are also expected to start in 2021. Even this gives an optimistic outlook on growth this year in contrast to oil, gas, coal and nuclear power.

2. Large companies will aim to be 100% renewable all the time

Companies like Google are aiming for a new goal and that is to be "100% renewable every hour of every day."

The tech giant wants to completely eliminate the use of fossil fuels, how? The company has developed new technology to shift the electricity demands of its largest data centers to match those of clean energy supplies.

Another pillar of its strategy is the purchase of renewable energy, which began in 2010 with its first agreement to receive electricity from a wind farm in Iowa.

3. Renewable energy can open the door to better opportunities

Renewable energy companies had been in a minority market when compared to fossil fuel, but this has been changing and in some countries large projects are underway that are considered vital to complete to take advantage of their benefits.

In Spain, for example, despite the pandemic, the final stages of the 500-megawatt Núñez de Balboa solar park were completed. Its inauguration was on April 6, 2020 and since then it has supplied energy to 250,000 people.

In Great Britain there is support for the development of renewable energy and it has generated thousands of jobs and billions in investments to the economy. What is also happening in many other countries.

The conclusion: this industry that is gaining strength will not continue to be ignored by governments, investors and companies in the world. Therefore, laws that support more renewable businesses in the countries can be expected.

With information from Fircroft and Greenbiz.

4. The impact of the Covid-19 pandemic

The International Energy Agency (IEA) projects a 20% drop in the number of renewable energy installations in the world.

Although there will be a decline in the photovoltaic and wind energy sectors, which are the largest part of the renewable energy market, it is expected that in 2021 the solar energy industry will slowly recover.