With climate summits and green energy being all the rage these days, how are energy trends changing in the new year and in the future?
Governments worldwide have continued to struggle in their commitment to reduce their carbon footprints and the pandemic didn’t make things easier. Renewables made up 26.2% of global electricity generation in 2018 and was expected to grow to 45% by 2040, a goal that may fall short due to the impact of COVID.
That being said, the global wind turbine market is still expected to reach $123 billion by 2025, better than the previously expected $90 billion. With the goal of many countries to go carbon neutral or carbon negative within the century, 2022 holds a lot in store for energy generation and for the electricity professionals that service homes, businesses, and industries.
During the pandemic, many homeowners took the longer stays at home and stimulus packages to upgrade their homes to make their quarantine more comfortable. One such upgrades included renewable energy. Despite supply chain issues and manufacturing businesses slowing in productivity until the end of 2020, a growing percentage of electricity was generated from renewables as opposed to fossil fuels.
Whether the upgrade was solar, wind, geothermal, or more, consumers are stepping up to bring their homes into the future with smart and clean upgrades that will keep their carbon footprint down while helping lower everyday costs and monthly bills