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RENEWABLE ENERGY MAY HIT A NEW HIGH BY 2050
DNV GL, an international risk management company, has concluded its latest research initiative, during with a large number of energy organizations participated and offered information concerning the world's renewable energy potential. The research from DNV GL found that the majority of global energy companies believe that 70% of the world's electrical power will be generated from renewable sources by 2050. Renewable energy systems are gaining significant support from the world's governments as these organizations seek to become more environmentally friendly.
GROWTH OF CLEAN ENERGY SECTOR WILL DEPEND ON NUMEROUS FACTORS
The report from DNV GL suggests that a transition toward renewable energy would be contingent on three factors: Convergence, rebalancing, and expansion. New economic metrics may need to converge the financial needs of governments and energy companies, allowing them to better embrace renewable energy as a whole. New government policies may be needed to balance the opportunities that exist in the energy sector as well, providing more stability for those that develop clean energy projects. New entrepreneurial practices may also be needed in order to support the expansion of the renewable energy sector.
Clean Power Continues To Gain Support From Some Private Investors
Clean energy is often seen with favor because of its economic prospects. Renewable energy projects are expensive, however, and some governments have been slowing their support of these projects in recent years. Private investors have begun to shy away from some projects because of the lack of government support, but others are showing interest in renewable energy because of its financial potential. In the coming years, private investors may show more support for clean energy.
Energy Companies See A Bright Future Ahead For Renewables
According to the report from DNV GL, 80% of global energy companies believe that 70% of the world's energy structure will draw upon renewable sources by 2050. Solar energy is expected to be one of the most well supported forms of clean energy, with wind power also drawing a significant amount of support that may benefit the energy sector.
