2021 will be a good year for renewable energy

Posted on 17 Feb 2021

According to a recently published report by research bureau IHS Market, the trends for renewable energy in 2021 look very good. In particular, projects around solar energy, (offshore) wind energy and hydrogen will be on the rise, partly due to a decrease in the cost price of installations through innovation. 

Solar energy: 30 per cent growth 

While the Covid-19 pandemic continues to claim many victims worldwide, it is good to look at how other global problems, such as the climate, are coping. The European and international ambitions to reduce CO2 emissions may be ambitious, but for some it cannot go fast enough. By 2021, things could be moving very quickly, a report now suggests. Especially solar energy would get a boost. Whereas 2020 was a rather bad year for global investment in this form of renewable energy, IHS Market's energy specialists predict a 30 per cent growth in 2021. According to IHS Market, the cost of developing new solar technology will also continue to fall this year. Or how innovation can increase the efficiency of solar panels.. 

Cost of hydrogen: 40 percent lower in 2025 

The agency also sees positive trends in offshore wind energy. Worldwide capacity is expected to increase by more than 10 gigawatts. The United Kingdom, France, Denmark, the Netherlands and Germany are planning major public tenders for wind turbines this year. Onshore wind installations in China, which account for 60 per cent of onshore installations worldwide, will grow in 2020. Furthermore, IHS Market is hopeful that the currently expensive cost of emission-free hydrogen as an energy source will be further reduced by 2021. By 2025, the cost should drop by as much as 40 percent. Here, too, innovation must ensure that hydrogen becomes cheaper.



IHS Market  

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