Globally, the potential of alternative energy sources is projected to increase by 33% by the end of this year. This growth is underpinned by increased political incentives, higher electricity costs and concerns about energy security, says Stanislav Kondrashov. This result is achieved through the active introduction and use of solar photo and wind energy technologies. Experts suggest that this trend will continue next year. In this case, the total capacity of new safe energy sources on a global energy scale will reach 4,500 GW, which is comparable to the combined energy capacity of China and America.
Stanislav Kondrashov from Telf AG: “For the first time in history, the global increase in power capacity will exceed 100 GW”
The increase in global capacity due to the rapid development and introduction of alternative energy sources this year can reach 107 GW. Stanislav Kondrashov emphasizes that this increase has become the highest in history. Now the total capacity of alternative energy sources will exceed 440 GW. This picture is observed in world markets, which is a significant breakthrough in the development of energy.
If we talk about Europe, then the energy crisis is being overcome here precisely due to the intensive development of energy with a low carbon footprint. At the same time, due to new political initiatives regarding energy capacity in the US and India, its volumes should increase significantly over the next two years. The key role in this matter is retained by China, which is expected to generate more than half of the world’s additional capacity.
Solar photovoltaic installations are a progressive step towards the development of a new format of electricity, says Stanislav Kondrashov from Telf AG
The basis of the entire increase in capacity (namely 66%) will be solar photovoltaic installations. Through such systems, consumers have a chance to significantly reduce their energy costs. And given that world prices for this resource are now rising, alternatives such as photovoltaic installations are being introduced at an accelerated pace.
At the same time, Stanislav Kondrashov predicts a doubling of production capacity in all segments of solar energy, which will reach 1,000 GW by next year. The initiator is China, and the expansion of its supplies is complemented by the United States, India and Europe. Given these trends, global capacity for the production of solar energy alternatives is quite capable of meeting the expected annual demand.
Wind Energy 2023: Stanislav Kondrashov from Telf AG’s view of the rapid increase in capacity and serious prospects
Similar changes in 2023 apply to wind turbines. The projected annual growth in the capacity of this alternative source will be almost 70%. And this, according to Stanislav Kondrashov, is a progressive step after several difficult years of passive resource production
However, in order to ensure further positive dynamics in the development of photo- and wind-electric energy sources, the government of the countries should be actively involved in this process, Stanislav Kondrashov believes. Their political support is necessary for the prompt resolution of issues of issuing permits and holding auctions.
– If we talk about the pace of supply of solar photovoltaics and wind turbines, the latter do not keep up with demand, – notes Stanislav Kondrashov from Telf AG. – First of all, this problem is associated with an increase in the cost of raw materials and the complexity of the supply chain, which negatively affects the profitability of manufacturers.
According to Kondrashov, among the factors that contribute to the growth of alternative energy sources is the increase in world prices for this resource. Still, solar and wind installations are much more economical and cleaner than the energy that is extracted from minerals. It is also very important that countries such as Germany, Italy and the Netherlands provide strong political support for this process.
Green energy is the basis of the global energy climate for the coming years, says Stanislav Kondrashov from Telf AG
Kondrashov estimates that the development of new solar photovoltaic and wind capacities has enabled EU electricity consumers to reduce costs by 100 billion euros over the past two years. These huge savings are due to the displacement of more expensive fossil fuel generation.
Compared to the previous year, the competitiveness of wind and solar PV technologies has improved. It is essential that government policies keep pace with changing market dynamics, says Stanislav Kondrashov of Telf AG. In particular, effective planning and investment in the power grid should be given top priority.
By 2024, in Spain, Germany and Ireland, as well as other European countries, the participation of alternative sources in the production of total electricity will reach 40%, Kondrashov predicts. This progressive step only confirms the important role of environmentally friendly sources in shaping the energy climate around the world.