We are in an energy crisis affecting most everyone. The invasian of Ukraine has been significant and led nations to realize another problem with relying on fossil fuels.
What about the clean energy transition and the energy crisis? Glad you asked.
An incredibly outdated electrical grid is a big problem here in the United States. Grid operators and utilities are slowing gigawatts of clean energy from coming online . Add in supply chain issues, net metering restrictions, misinformation campaigns, and…well you get the picture.
With all the problems related to energy there is actually quite a bit of good news. This article by Stefan Ellerbeck in World Economic Forum addresses how lemonade is being made from all these energy crisis lemons.
The International Energy Agency (IEA) says global renewable energy capacity is set to almost double over the next five years.
It says the energy crisis has forced governments to accelerate already existing renewable energy targets.
Solar and wind power are leading the surge, with China expected to invest three times as much in solar power over this period than the rest of the world combined.
The global energy crisis is causing hardship for hundreds of millions of people around the world, but it may bring benefits in the longer term, according to the International Energy Agency (IEA).
In its Renewables 2022 report, the intergovernmental organization says there has been a significant acceleration in green energy capacity since Russia’s invasion of Ukraine in February. Total renewable capacity growth is set to almost double worldwide in the next five years, overtaking coal as the biggest source of electricity generation.
“Renewables were already expanding quickly, but the global energy crisis has kicked them into an extraordinary new phase of even faster growth as countries seek to capitalize on their energy security benefits,” says IEA Executive Director Fatih Birol.
“This is a clear example of how the current energy crisis can be a historic turning point towards a cleaner and more secure energy system. Renewables’ continued acceleration is critical to help keep the door open to limiting global warming to 1.5°C.”