The independent think-tank, Ember, released a report last week that saw Renewable Energy, such as Solar and Wind, reach a record market share of 9.8% for the first half of the year. Solar power is being used more than ever. Renewable energy actually increased during the Covid Pandemic. Coal on the other hand saw a decrease of an astounding 8.3% in just the first half of 2020 alone.
This is yet another milestone for Solar Power. Renewable energy accounts for 12% of the market here in the United States, 21% for the EU. The U.K. and Germany lead the EU in renewable energy with a market share of 33% and 42%, respectively. Since the Paris Agreement in 2015 renewable energy has doubled their market share, worldwide. It’s great news to hear that renewable energy is still growing, however, Ember also released some worrying findings.
According to Ember’s Senior Electricity Analyst, Dave Jones, “to keep a chance of limiting climate change to 1.5 degrees, coal generation needs to fall by 13% every year this decade. The fact that, during a global pandemic, coal generation has still only fallen by 8% shows just how far off-track we still are. We have the solution, it’s working, it’s just not happening fast enough.” The only real criticism is that countries aren’t converting fast enough. Renewable energy only siphoned off 5% of the market share away from coal. In order to reduce the probability of climate change Solar and Wind must take a larger share away from the Coal industry.
That’s where you and I come in. By investing in Solar you are driving down prices and storing renewable energy for your community. If you’re interested in learning more about switching to Solar, or doing your part to limit climate change please feel free to explore our site or check out our other blogs at regionsolar.