info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)

Renewables Over Electricity in 2023

By Snehal Singh , 01 February, 2023

Renewable energy is expected to maintain progress and achieve desired results in 2023 along with technology upgradation and cash flow. The major driving factor for growth will be the government’s support with futuristic measures.

According to reports, the future of renewables looks brighter and more attractive. The Russian- Ukraine war has been an eye opening for countries especially Europe, to value renewable energy’s benefits.

As per the data, renewables may account for 38 percent of global electricity in comparison to 30 percent from coal by 2027. Almost 33 percent of global electricity will come from renewables by 2024. The sustainability of renewables is more, and in 2023, it will make good sense in business.

Based on research and inputs taken from natural resources’ leaders worldwide, there are predictions for the sector to reimagine itself as greener on the scale. According to reports, natural resources companies ranging from mines to oil and gas will invest in clean or renewable energy technology.

The main factors pushing these renewables into the mainstream are lower production cost, concern over climate change, evolving policies of global energy, and increasing pressures from investors on companies dealing with energy to adopt environmental and social governance policies, as one of the reports says. Another factor leading to the move towards renewables can be the high prices of electricity and fossil fuels which eventually makes renewable power more attractive economically.

Net Renewable Capacity Additions By Technology, 2017-2023

Technology.jpg

Latest News

sector.png
Rate of Oil and Gas Drilling Activities Drops in the United States

The United States went through a decline in oil and gas drilling activities in 2024. Since the beginning of the year, the United States has faced many challenges in keeping up with the oil drilling process. Recently, the surveys showed that the total…

Read More

centers.png
U.S Electricity Demand to Get Double with AI and EV by 2030

Electrification in the energy sector will ramp up in the United States in 2024. The nation aims to set up data centers and increase the production of electric vehicles, citing the green energy transition. Both activities demand a high electricity…

Read More

market.png
Renewable Energy Production Slows down due to Lack of Transformers

Renewables are in high demand in the energy market in 2024. It is due to a clean energy transition that requires a constant flow of renewables in the energy market. The green transformation to combat climate change brings about several environmental

Read More

period.png
Packaging Manufacturer Collabs with Solar Projects to Enhance Cleantech in 2024

Companies are making significant moves towards the clean energy transition in various ways. In order to reduce carbon emissions, certain companies are investing in several rescue methods in 2024. Renewables production is growing over time as the

Read More

Amazon.png
Amazon Enables News Technologies to Help its Business Customers

Amazon is one of the leading global e-commerce platforms for consumers. The brand boosts its online shopping experience for users in multiple ways. Surveys show that Amazon regulates several business solutions to increase its products and services…

Read More

Author Pic
Snehal Singh

Assistant Manager - Research