Renewable Energy
Derived from natural sources, renewable energy is the type of energy that is replenished faster than it is
Overview

Derived from natural sources, renewable energy is the type of energy that is replenished faster than it is consumed. Consuming renewable energy rather than burning fossil fuels, which is responsible for the vast amount of greenhouse gas emissions, is key to addressing the climate crisis challenges.

Nowadays, more innovative and cost-effective utilities make renewable energy more accessible. Between 2010 and 2020, solar power's electricity cost decreased by 85 per cent. There was a 56 per cent drop in the price of onshore wind energy and a 48 per cent drop in the cost of offshore wind energy. With falling costs for the new power supply, providing unlimited energy is the key to the world's sustainable development.
Whilst fossil fuel and other dwindling source of energy is limited and spread unevenly around the world, solar, wind and hydropower are restored by the nature and is accessible to every country. From that perspective, renewable energy creates power sources evenly for everyone around the world and makes countries independent in energy usage. As of now, renewable energy has not fully realized its potential. The International Renewable Energy Agency (IRENA) estimates that 90 per cent of the world’s electricity can and should come from renewable energy by 2050.

Renewable energy is one of the key solutions to reducing greenhouse gas emissions and decarbonizing the EU’s energy system to reach carbon neutrality by 2050 as the European Green Deal targets. The European Commission is proposing to increase the EU’s 2030 target for renewables from the current 40% to 45%. The REPowerEU Plan would bring the total renewable energy generation capacities to 1,236 GW by 2030, in comparison to the 1,067 GW 2030, envisaged under Fit for 55 for 2030.

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