| Date | August 26, 2024 |
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Readers' Guide: https://www.infolink-group.com/latest-event/readers-guide-2024-white-paper
InfoLink releases the white paper, "Powering a Green Future: A Forecast to 2030 for Solar and Energy Storage," which tracks the progress of renewables deployment every year and provides in-depth market analysis of China, the United States, and Europe (including the U.K.) to help industry professionals gain crucial insights.
Global renewable energy deployment is pivotal for achieving net-zero carbon emissions by 2050. InfoLink's latest projections reveal the necessary expansion of renewables to keep global warming below the critical 1.5°C and 2°C thresholds.
The energy supply sector, contributing 35% of global greenhouse gas emissions, must undergo a transformative shift. To meet the 1.5°C scenario by 2030, approximately 8.5 TW of renewable energy capacity is required, while the 2°C scenario needs around 5 TW. InfoLink estimates that global renewable energy capacity will surpass 10 TW by 2030, potentially meeting these targets. However, the 1°C scenario still faces a shortfall of nearly 2.5 TW.
Renewables markets experienced significant growth in 2023, with solar, wind, and energy storage installations reaching record highs due to favorable policies and technological advancements. Despite political and financial challenges, InfoLink’s outlook for renewable energy remains optimistic.
The US market, buoyed by the Inflation Reduction Act (IRA), benefits from comprehensive subsidies for solar, wind, and energy storage, significantly reducing the levelized cost of energy (LCOE) and driving capacity growth. However, trade barriers are expected to impact supply and installation rates.
Europe, affected by the Russia-Ukraine conflict, saw natural gas and electricity prices surge in early 2022, leading to a boom in renewable installations in 2023. Countries set ambitious targets under the National Energy and Climate Plans (NECP), with the REPower EU's 600 GW goal likely to be achieved ahead of schedule, potentially exceeding 1,000 GW by 2030.
Europe’s energy storage market is also set for substantial growth. The front-of-the-meter (FTM) segment, driven by energy reforms and subsidies, is expected to surpass the behind-the-meter (BTM) market. Major markets like the U.K., Italy, and Germany will see continuous expansion, with emerging markets like Belgium, Greece, and Spain following suit. InfoLink projects that cumulative installed capacity will reach 500 GWh by 2030.
Amidst geopolitical and environmental challenges, enhanced policies, technological innovation, and continuous efforts are crucial to ensure the deployment of renewable energy and meet the growing energy consumption demand.
InfoLink's second edition of “Powering a Green Future: A Forecast to 2030 for Solar and Energy Storage” white paper provides detailed insights into the critical developments of solar and storage in China, the U.S., and Europe (including the U.K.), highlighting the path toward net-zero emissions.
Download HERE to explore detailed analysis and projections on global renewable energy trends by InfoLink.
InfoLink releases the white paper, "Powering a Green Future: A Forecast to 2030 for Solar and Energy Storage," which tracks the progress of renewables deployment every year and provides in-depth market analysis of China, the United States, and Europe (including the U.K.) to help industry professionals gain crucial insights.
Global renewable energy deployment is pivotal for achieving net-zero carbon emissions by 2050. InfoLink's latest projections reveal the necessary expansion of renewables to keep global warming below the critical 1.5°C and 2°C thresholds.
The energy supply sector, contributing 35% of global greenhouse gas emissions, must undergo a transformative shift. To meet the 1.5°C scenario by 2030, approximately 8.5 TW of renewable energy capacity is required, while the 2°C scenario needs around 5 TW. InfoLink estimates that global renewable energy capacity will surpass 10 TW by 2030, potentially meeting these targets. However, the 1°C scenario still faces a shortfall of nearly 2.5 TW.
Renewables markets experienced significant growth in 2023, with solar, wind, and energy storage installations reaching record highs due to favorable policies and technological advancements. Despite political and financial challenges, InfoLink’s outlook for renewable energy remains optimistic.
The US market, buoyed by the Inflation Reduction Act (IRA), benefits from comprehensive subsidies for solar, wind, and energy storage, significantly reducing the levelized cost of energy (LCOE) and driving capacity growth. However, trade barriers are expected to impact supply and installation rates.
Europe, affected by the Russia-Ukraine conflict, saw natural gas and electricity prices surge in early 2022, leading to a boom in renewable installations in 2023. Countries set ambitious targets under the National Energy and Climate Plans (NECP), with the REPower EU's 600 GW goal likely to be achieved ahead of schedule, potentially exceeding 1,000 GW by 2030.
Europe’s energy storage market is also set for substantial growth. The front-of-the-meter (FTM) segment, driven by energy reforms and subsidies, is expected to surpass the behind-the-meter (BTM) market. Major markets like the U.K., Italy, and Germany will see continuous expansion, with emerging markets like Belgium, Greece, and Spain following suit. InfoLink projects that cumulative installed capacity will reach 500 GWh by 2030.
Amidst geopolitical and environmental challenges, enhanced policies, technological innovation, and continuous efforts are crucial to ensure the deployment of renewable energy and meet the growing energy consumption demand.
InfoLink's second edition of “Powering a Green Future: A Forecast to 2030 for Solar and Energy Storage” white paper provides detailed insights into the critical developments of solar and storage in China, the U.S., and Europe (including the U.K.), highlighting the path toward net-zero emissions.
Download HERE to explore detailed analysis and projections on global renewable energy trends by InfoLink.