Clean Energy to Take Bigger Share of Electricity Market by 2030
- Renewables will account for about 40% of electricity output
- ‘Real challenge’ is heating, cooling, transporation: Irena
HILLSBOROUGH - JULY 15: Employees of SunEdison install photo voltaic solar panels on the roof of a Kohl's Department Store in Hillsborough, New Jersey July 15, 2008. Company engineers estimate Kohl's will be able to reduce their electricity usage on average by 25% once power begins flowing from the 1980 rooftop panels. Kohl's signed a contract with SunEdison, based in Beltsville, Maryland, to receive electricity for 20 years at a reduced price from public utility rates. New Jersey is the nation's second largest producer of solar energy behind California. State and federal tax incentives help individuals and commercial enterprises cover the costs of solar panel installations. SunEdison is North America's largest solar energy service provider.
Photographer: Robert Nickelsberg/Getty ImagesRenewable energy will account for 40 percent of electricity output capacity by 2030, almost double today’s market share, according to the International Renewable Energy Agency.
The expansion will be due to lower technology costs, Adnan Amin, Irena’s director general, said in an interview on Bloomberg TV in Dubai. “We anticipate with the lower technology cost, by 2030 we’re going to have renewables capacity in the global power system at around 40 percent, which is quite remarkable growth.” That compares with 22 percent today, according to Irena.