Renewable Energy Trends 2019 Flashcards
To inform the user about high-level, forward-looking trends about renewable energy.
Which three sources of renewable energy dominate expected capacity build-out between 2019 and 2024?
Solar PV (60%), Onshore wind (25%), and Hydropower (10%)
What are the two main drivers of Solar PV and Wind power build-out growth?
1) Sustained cost reductions
2) Improved policy and regulatory environment
Renewable power capacity is anticipated to expand by how much by 2024?
Renewable power capacity is anticipated to expand by 50% (or more under advantageous conditions) by 2024.
What are the three main challenges currently impeding growth in the renewable energy/power market?
1) Government policy and regulatory uncertainty
2) High investment risk in Emerging and Developing markets
3) System integration of wind and solar
What current percentage of heat generated is from renewable sources and at what rate is that anticipated to grow by 2024?
Currently, renewable heat generated lags targets significantly, representing only 10% of current heat consumption. While expected to grow to 12% by 2024, it remains well behind targets required to meet CO2 mitigation goals.
What percentage of heat consumed is represented by industrial and buildings, respectively?
Current heat consumption is represented at 50% industrial, 46% buildings, and 4% other.
What is the current percentage of global industrial heating provided by renewable sources?
At present, less than 1% of all global industrial heating demand is satisfied by renewable sources.
What percentage of utility-scale renewable capacity remuneration is expected to be set by PPAs over the next 5 years (2019-2024)?
Especially in the EU, Power Purchase Agreement (PPAs) auctions are forecast to account for 2/3 of new utility-scale renewable capacity. The majority of PPAs are government auctions, while there has also been an increase in corporate and utility power buyers.
What percentage of the economic lifetime of renewable projects do long-term PPA contracts tend to cover?
The current expectation is that new PPAs with long-term contracts for renewable power will cover 75% of the economic lifetime of the project. This is less true for new Solar PV and Wind projects, as they are considered more economically competitive, and therefore contracts will be of a shorter duration.
What are the three areas where the IEA feels that policy makers must focus to enhance clean tech innovation?
1) Collaboration between existing initiatives (particularly EU TCP, CEM, MI, and EU ETIPS)
2) Engaging with emerging markets
3) Leveraging corporate (private) capabilities
