THE GROWING RENEWABLE ENERGY & THE PROGRESS OF TECHNOLOGY ACHIEVEMENTS

Energy efficiency has been the talk of the town across the world since decades.

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Today renewable energy accounts for more than half of the global electricity generation investments. The developed countries contribute more followed by developing countries that continue to build coal and gas plants to meet their increasing electricity demand. According to Capgemini’s annual study titled World Energy Markets Observatory (WEMO) report, with the growing renewables market and the progress of technology achievements, costs are declining by over 10 percent (wind & solar) in 2019. The report also mentions that batteries for electric vehicles and stationary storage costs decreased by 19 percent in 2019 with Asian players dominating this market.