In 2022, these renewable energy leaders will comprise more than 60% of the global green energy expansion. Their commitment and dedication in stepping up with renewable energy investment are accountable to business leaders, citizens and, some from political leaders. These three countries have successfully set the bar higher as a response to the increasing climate dilemmas.
Among the three countries, China has the greatest investment in renewable energy, devoting $126.6 billion dollars in 2017. The country’s record will contribute up to 40% of the total green energy yield in 2022. Currently, 13% of their energy source come from non-fossil fuels and they are looking forward to increasing it to 20% by 2030.
Knowing that this country is a hotbed of industry giants and has cities that are considered having the worst smog in the world, China could never step back. At the core of this ambition is the necessity to cut carbon emissions to provide a more livable place for the citizens.
China has built numerous solar stations that are enormous in size and capacity. Taking the biggest leap among any other nations, part of their vision is to provide renewable energy to 30 million homes through 110 gigawatts of solar power by the year 2020. Becoming one of the renewable energy leaders requires a clear goal combined with political will.
Despite the withdrawal of President Donald Trump from the Paris Climate Agreement, this country has surprisingly taken the second spot as one of the renewable energy leaders. According to the US Energy Information Administration, 20% of the country’s power generation comes from renewable sources during the first half of 2018.
Wind and solar energy are said to be comprising a tenth of the country’s power supply. In 2017, the US saw the lowest carbon emission in 25 years and by 2020, it is predicted that electricity generated from green energy sources will be cheaper. Meanwhile, there will be 27 million electric vehicles on the roads by 2030 as projected by Bloomberg New Energy Finance.
Although the step made by Trump was a setback, business leaders were unstoppable in turning their companies 100% green energy reliant. Google and Amazon, two leading companies in the US, are now head-to-head in getting the green throne. The climate leadership of America has remained steadfast despite the reluctant federal leadership.
Being one of the most ambitious renewable energy leaders, India is doing its best to achieve the 225 gigawatts energy capacity by 2022 which is larger by its goal set under the Paris Agreement. Hydro is the largest contributor in the renewable energy amounting to 45.4 gigawatts and they are eyeing to improve policies to provide sustainable energy to its growing population. They also seek to increase solar energy by 360 percent.
Between the year 2017 and 2018, there were 15,000 biogas plants built and India’s solar power capacity has an additional 5,525.98 MW and 467.11 MW of wind power capacity. Approximately, the country contributes 4% of the total global green energy consumption and now has overtaken the European Union.
India is looking forward to achieving its goal of having a 40% renewable energy supply. Because of the growing energy demands, India has allotted a total of US$ 581.09 million for its grid-interactive renewable energy schemes and projects under the Union Budget. Several energy companies are also rising as this investment has been very promising for the country’s sustainable future.
Follow our Linkedin page for the latest industry news
Want to read articles like this, click here
To read the latest GineersNow magazines, click here