Renewables To Power ‘Green’ Recovery
Renewables are the future of the energy sector. We are in the middle of a great energy transition where we are moving from polluting to clean sources of energy. The world’s total renewable energy (RE) capacity is currently around 2,500 gigawatt (GW), of which solar and wind account for nearly 50 per cent each. Last year, we added 180GW of renewable capacity — an increase from just 20GW of annual addition nearly 10 years back. What makes this growth even more special is the increasing affordability of renewables — which are now cheaper in terms of levelised cost of energy, or in other words lifetime operations cost, than thermal-based power.
Technology Gains
The cost
