Wednesday, December 4, 2019

The Sources for Generating Electricity Are Changing

Special Feature Article from APPI Energy

Renewable energy is projected to provide half of the world’s electricity within the next 30 years. Renewable energy currently accounts for 28% of the global electricity and power capacity is expected to increase by 49% in the next 5 years.   In 2018, 96% of renewable energy was produced by three main areas; hydropower, wind, and solar. Projections are already being made that by 2024 a third of the Earth’s electricity will be provided by renewable energy which will be neck and neck with the world’s current generating leader, coal.

Leading the renewable energy growth trio is solar generation with expectations of growing 60% by 2024. Declining technology costs, regional load growth, and renewable policies all lead to an increase in the solar generation market. Second to solar, wind power should also show substantial growth in the next few years. Onshore wind is expected to make up a quarter of the renewable energy growth and off shore wind project costs are expected to decline 45-50% in the next five years. Growth in the hydropower market is not as vast since the main production method for hydropower is through an existing dam or construction of a man-made dam for generation pushing it third in growth expectation.

AHCA/NCAL partners with APPI Energy, a trusted name in energy consulting for 23 years, as our preferred provider of energy procurement and efficiency services.  APPI Energy can provide AHCA/NCAL members with the steps to utilizing renewable energy through its Energy Solutions Division.  For more information about an energy efficiency project, please visit APPI’s website at www.appienergy.com or call 800-520-6685.

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