Munich/Pforzheim, December 3, 2019 – After remaining at a stable yet high level in 2018, the global expansion in renewable energy capacity started to pick up speed again this year. According to the International Energy Agency (IEA), the deployment of new capacity will have increased by just under 12 percent in 2019 compared to the previous year, which is the strongest level of growth since 2015. The agency predicts that a total of almost 200 gigawatts of capacity will be added worldwide, driven predominantly by photovoltaics and wind power. The IEA forecasts that on its own the global photovoltaics market will even expand by more than 17 percent this year compared to 2018. ees Europe, the continent’s largest and most international exhibition for batteries and energy storage systems, is also benefitting from these developments and will be even bigger than before in 2020. Although the exhibition is still six months away, more than 90% of the exhibition area has already been booked. ees Europe will take place at Messe München from June 17 to 19, 2020 as part of The smarter E Europe, the innovation hub for new energy solutions.
As in 2018, new solar installations will once again surpass the 100-gigawatt mark globally in 2019 and are even expected to exceed the amount reached in the previous year. Onshore wind capacity is also experiencing rapid growth and newly installed capacity is anticipated to climb by 15 percent worldwide to 53 gigawatts, propelled predominantly by the USA and China. There are also encouraging signs surrounding the deployment of new offshore wind capacity, which is likely to remain stable at around five gigawatts of growth in 2019. The IEA considers these technologies to be the key pillars of global efforts to fight climate change, reduce air pollution and provide everyone with access to energy.
Electrical energy storage systems hold the key to meeting climate protection targets
According to Bloomberg New Energy Finance (BNEF), continuously falling costs will result in renewable energy, supported by lithium-ion battery storage systems, accounting for 48 percent of all energy generated worldwide by 2050 (currently 7 percent). Photovoltaics and wind power are already the least expensive sources of electricity in two-thirds of countries around the world. As explained by BNEF analysts in their latest New Energy Outlook forecast, Europe will be the leading proponent of decarbonization worldwide. They expect carbon prices and other supporting measures to lead to the continent generating 92 percent of its electricity from renewable sources by 2050. The forecast also predicts that oil will no longer be used as a source of energy by the middle of the century and coal – which currently generates 37 percent of all electricity – will only be used to meet 12 percent of our electricity requirements.
Large grid storage projects and innovative solutions
The energy transition would fail without energy storage, which is why the number of new large-volume storage projects is on the rise. In the Netherlands, energy group Vattenfall has spent a good 60 million euros on building and combining a 22 megawatt wind farm, a 38 megawatt photovoltaic installation and a 12 megawatt battery storage system all in one location. The utility company’s first full-hybrid power plant is also expected to serve as a blueprint for what Germany could achieve without the aid of subsidies from 2020. In particular, Vattenfall has Germany’s coal fields in its sights, as it believes that old mining land offers huge potential for photovoltaics and wind power.
