What the Future of Renewable Energy Looks Like......Renewable energy capacity is set to expand 50% between 2019 and 2024, led by solar energy. This is according to The International Energy Agency (IEA)’s ‘Renewable 2020’ report, which found that solar, wind and hydropower projects are rolling out at their fastest rate in four years, making for the argument that the future lies in using renewable energy. The Future of Renewable Energy: Growth Projections......Renewable energy resources make up 26% of the world’s electricity today, but according to the IEA its share is expected to reach 30% by 2024. The resurgence follows a global slowdown in 2019, due to falling technology costs and rising environmental concerns. Renewable energy in the future is predicted that by 2024, solar capacity in the world will grow by 600 gigawatts (GW), almost double the installed total electricity capacity of Japan. Overall, renewable electricity is predicted to grow by 1 200 GW by 2024, the equivalent of the total electricity capacity of the US. The IEA is an autonomous inter-governmental organisation that was initially created after the wake of the 1973 oil crisis. It now acts as an energy policy advisor to 29 member countries and the European Commission to shape energy policies for a secure and sustainable future. 1. Solar Will Become 35% Cheaper By 2024 When the sun shines onto a solar panel, energy from the sunlight is absorbed by the PV cells in the panel. This energy creates electrical charges that move in response to an internal electrical field in the cell, causing electricity to flow. Industry experts predict that the US will double its solar installations to four million by 2023. In 2018, the UK had over one million solar panel installations, up by 2% from the previous year and Australia reached two million solar installations in the same year. A big reason for this increased uptake is the fall in prices to install the panels. The cost of solar PV-based power declined by 13% in 2018, while Carbon Tracker predicts that 72% of coal-based power will become globally unprofitable by 2040. The IEA report found that solar energy will account for 60% of the predicted renewable growth, primarily due to its accessibility. Compared with the previous six-year period, expansion of solar energy has more than doubled. The cost of solar power is expected to decline by 15% to 35% by 2024, spurring further growth over the second half of the decade. Future Capacity of Solar Energy......Wind and hydropower often require users to live in specific locations, but solar offers more freedom; the sun rises and sets on a predictable schedule, and it’s not as variable as running water or wind. Residential solar power is expected to expand.....read on      https://earth.org/the-growth-of-renewable-energy-what-does-the-future-hold/