All about Renewable Energy Facts – Natural Resources Canada
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Australia is one of the most energy hungry countries on the planet we consume a great deal of energy! So, where does all this energy come from? How is it generated? Is it safe for the environment? In Australia we have access to eco-friendly sources of energy such as solar, wind, hydro, geothermal and ocean energy.
For the very first time ever, in April 2019, sustainable energy surpassed coal by offering 23 percent of United States power generation, compared to coal’s 20 percent share. 1 In the very first half of 2019, wind and solar together accounted for approximately half of total US sustainable electrical energy generation, displacing hydroelectric power’s supremacy. Renewable resource consumption by residential and commercial consumers increased 6 percent and 5 percent, respectively, while commercial usage declined somewhat, by 3 percent, through June 2019 compared with the previous year. 4 As in 2018, United States corporate sustainable energy contracts as soon as again hit brand-new levels, as corporations signed power purchase contracts (PPAs) for 5.9 gigawatts (GW) of renewable energy in the very first half of 2019 – green energy.5 The prospects for short-term solar and wind energy growth appear beneficial, with about 96.6 percent of net brand-new generation capability additions (74 GW) anticipated to come from these 2 resources in 2020.6 With several states increasing their sustainable portfolio standards (RPS) in 2019, the market will likely see obligatory RPS-driven procurement development through the mid-2020s, while voluntary need will continue to hit new levels.
Under current policy, eligibility for the Production Tax Credit (PTC) for brand-new wind construct expires and the solar Financial investment Tax Credit (ITC) step down starts in 2020, both of which have been crucial motorists for wind and solar growth in the US sustainable energy market. While the wind market did not demand extension of the PTC prior to it expires next year8, it has asked for that solar power’s ITC be reached wind tasks.
In July 2019, both houses of Congress introduced legislation to extend the solar ITC for five years at its complete 30 percent value. 10 We’ll be enjoying to see if this ends up being law by yearend or is used up again in 2020, and whether wind will be included. For sectors that have actually collaborated toward a cleaner energy mix, taking different paths would likely create brand-new market characteristics.
Solar designers are optimistic, given that imported panel costs have fallen quickly and are most likely to balance out the impact of existing tariffs by the end of 2019.11 That’s great news for development as long as brand-new tariffs are not enforced. Nevertheless, the US federal government expanded tariffs on Chinese imports, most just recently consisting of bifacial solar modules, and is thinking about increasing tariff amounts.
If these tariffs are troubled top of existing tariffs on towers and other equipment from Chinaand existing multi-country steel tariffsthe upward pressure on costs could stymie some new projects (renewable energy facts). 13 Overall, the decrease in wind and solar building costsweighted project costs fell 13 percent and 37 percent, respectively, in between 20132017will most likely assistance cushion the impact of tariffs on imported parts.
Author: Maxx Chatsko June 13, 2018 If humanity wants to limit the rate of climate change and lower its impact on the natural surroundings, then it needs to transition to clean and eco-friendly sources of electrical power within the next numerous decades. Great news: we’re well en route. In fact, the development of eco-friendly energy regularly outmatches long-lasting projections from major regulatory bodies.