Balraj, Director – Manfra
Why Renewables
“Renewables is one of the main enablers of keeping the rise in average global temperatures below 1.5°C.”
Renewable Sector
Renewables, including solar, wind, hydropower, biofuels and others, are at the centre of the transition to less carbon-intensive and more sustainable energy systems. Generation capacity has grown rapidly in recent years, driven by policy support and sharp cost reductions for solar photovoltaics and wind power in particular.
The electricity sector remains the brightest spot for renewables with the strong growth of solar photovoltaics and wind in recent years, building on the already significant contribution of hydropower. But electricity accounts for only a fifth of global energy consumption and finding a greater role for renewable energy sources in transportation and heating remains critical to the energy transition.
The world is on course to add more renewable capacity in the next five years than has been installed since the first commercial renewable energy power plant was built more than 100 years ago. Almost 3 700 GW of new renewable capacity will come online over the 2023‑2028 period, driven by supportive policies in more than 130 countries
Future milestones
- In 2024, wind and solar PV together generate more electricity than hydropower..
- In 2025, renewables surpass coal to become the largest source of electricity generation.
- Wind and solar PV each surpass nuclear electricity generation in 2025 and 2026 respectively..
- In 2028, renewable energy sources account for over 42% of global electricity generation, with the share of wind and solar PV doubling to 25%…
Why Renewables
- Renewables is one of the main enablers of keeping the rise in average global temperatures below 1.5°C
- Renewables allow electricity generation to be almost completely decarbonised.
- Renewable transport fuels and renewable heat contribute to significant emissions reductions in transport, buildings and industry.