By 2030, it appears there is going to be a rapid increase in the use of clean energy, especially wind power which is set to double in developing countries and increase by a third in developed countries during this time. It is also predicted that by 2030 clean power will overtake fossil fuels in producing power with wind energy leading the way in this green revolution. Furthermore, it’s predicted that by 2040 the cost of generating onshore wind will fall by 41% and solar PV by 60%, making these two technologies the cheapest ways of producing electricity. In many countries wind and solar will become the cheapest forms of generation during the 2020’s and in most of the world by the 2030’s.
Not only is renewable energy going to have a positive effect on the global climate, it is going to the make the global economy of the future stronger. Because it is becoming cheaper to produce energy generated from renewable sources, green energy market prices will decrease over the years, so much so that the renewable market will become the cheaper, the most economical option for electricity production. As a result of this, wind power is now the largest and the cheapest source of newly installed power and continues to gain share. The wind industry hit a significant point in 2015 by crossing the 60 gigawatt (GW) mark for the first time and has now reached 63GW installed globally.
The signing of the Paris Climate Agreement has had an additional significant impact on the increased popularity in using renewable sources of energy. Part of the Paris COP21 agreement pledges “to stop the growth of greenhouse gas emissions, mainly from burning fossil fuels”. This agreement coupled with the new global deal recently made to limit the use of hydroflurocarbons shows that the global community has a deep interest in the reduction of fossil fuels and other harmful gases. This will hugely benefit the renewable energy market seeing as the demand for green power will increase to accommodate the reduction in use of fossil fuels.
It is clear that we must come together to make a real effort to reduce the effects of climate change. The most obvious way to do this is to make the switch to over to renewable sources of energy. By increasing the usage of clean forms of power and reducing the use of fossil fuels and hydroflurocarbons, it is obvious that the future does truly belong to clean energy.