He growth of renewable energy in the world will have this year a milestone that will mark a turning pointSince the investment in solar energy will reach the entire planet US$390,000 million and, for the first time, it will be greater than all the capital allocated to the oil industry.
The data was highlighted by the International Energy Agency (IEA) as a “brilliant example”although he cautioned against “the inequality” in that growthto the point that “more than 90% of the increase in recent years is in advanced economies and China”.
“Mobilize a more financing for emerging economies and in development andIt is essential to avoid new dividing lines in global energy”the organization remarked.
The importance of solar energy and the energy transition
Amid concerns about the climate change and the record heat wave In the northern hemisphere, with a temperature record in July, some data from European countries show the importance of the solar energy.
For example, Spain had already reached in 2022 a level of maturation in solar energy that allowed it to face the 16% of the demand in July 2022, but this yearfor the same month, the sector contributed 24% of the total, while in Greece at the peak of electricity demand on July 24, photovoltaic solar energy covered 33.8% of the demand.
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“The Russian invasion of Ukraine forced Europe to take accelerated transition measuresnot out of love for the environment, but because they stopped having cheap gas from Russia and there they realized the importance of the wind and solar power plants they had,” the coordinator of the Solar Committee of the Argentine Chamber of Renewable Energies told Télam. (Cader), Marcelo Alvarez.
In this regard, he pointed out that “the good news is that we are doing more than we did beforebut the bad news is that It’s not enough of what we should do”.
In the same sense, the IEA by noting that “funding is starting to flowbut more needs to be done to align with the Risk Scenario. Zero Net Emissions by 2050″.
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The growth of solar energy
photovoltaic solar energy “demonstrated the highest absolute generation growth of all renewable technologies in 2022surpassing wind power for the first time in history”, highlighted the Agency, which specified that in that year it had a record increase of 270 Twh (equivalent to 270 million Mwh) and reached a level of 1,300 Twh.
But the inequality in that growth is a concern carefully observed by the directors of the IEA, who point out that the imbalance deepens as the increase in installed capacity is much greater in countries that have already been leaders in the matter for several years.
In this sense, he specified that in 2022 China added 100 GW to its installed capacity of solar energy, almost triple that the whole European Unionwhat with 38GW was his immediate pursuer, and nine times more than the 11GW from Brazilthe first country in Latin America.
For the IEA, the challenge of reaching the “Net Zero Scenario” in 2050“will require continued political ambition and efforts of public and private actorsespecially in the area of grid integration and to address policy, regulatory and financing challenges.”
Source: Ambito
