On April 2, 2019 the International Institute for Sustainable Development (IISD) confirmed 2018 was quite a year. That’s because 66% of new electricity generation capacity was renewable while battery prices fell 35%. Perhaps in times to come we’ll tell our grand kids 2018 was the year renewable energy reached maturity. And headed down the straight to a sustainable world.
Authority Sites Confirm Green Energy Reached Maturity
International Renewable Energy Agency (IRENA) and Bloomberg New Energy Finance (NEF) confirm the global transition to clean electricity generation. Two things are driving this: both battery prices and renewable generation became cheaper.
Wind and solar energy contributed 84% to the renewable energy growth. They brought 171 new gigawatts to the party. Non renewables including nuclear only managed 115. IISD notes non-renewable energy growth has stagnated since 2001. This was in the face of renewables making new market inroads every year.
Impressive Green Energy Contributions Now Online
Hydro power has traditionally dominated the green market with 1,172 gigawatts installed capacity. However wind and solar had become the largest contributors when green energy reached maturity last year. That’s because the new upstarts drove hydro’s contribution below 50% for the first time.
Globally, non-renewable capacity fell 85 gigawatts in Europe, North America and Oceania during 2018. However Asia more than offset this, while the Middle East added a further setback. This latter news distressed us. Has this something to do with a new wave of nationalism?
We are however still ahead of the game although 2018 proved a mixed year when we view the entire picture. Wind and solar still do not have the solid business case we need. Let alone the weight to start closing base-load coal stations still within the life of their design.
Nonetheless, the leveled cost of electricity has brought solar and wind to the point green energy claimed superiority over gas peaking stations. This is in itself a remarkable achievement.
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