dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Social Links
  • zedreviews.com
  • citi.io
  • aster.cloud
  • liwaiwai.com
  • guzz.co.uk
  • atinatin.com
0 Likes
0 Followers
0 Subscribers
dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
  • Lah!

4 Emerging Trends And Challenges For Renewable Energy In 2020

  • May 6, 2020
Total
0
Shares
0
0
0

Economic slowdown, trade tensions, and recently, a global pandemic are some challenges that can impede the growth of the renewable energy industry. However, there are also opportunities for growth.

In April 2019, renewables outpaced coal in terms of electricity generated in the United States, Energy Information Administration (EIA), reports.

This is the first time such an event occurred. While it was short-lived, this is a huge milestone for renewable energy.

On the whole, the year 2019 had been good for renewable energy. According to Deloitte, the growth observed in the industry in 2019 was driven by a combination of declining costs of renewables and a spike in the competitiveness of battery storage. On top of that, the positive sentiment towards the industry also bolstered the demand for it.

In their report, 2020 renewable energy industry outlook, Deloitte also examined how the 2019 trends will impact the growth of the industry for the year 2020.

Market transformation

The market in the year 2020 will be transformed due to two distinct changes.

The first one, Deloitte observed, is that state regulators have begun frowning upon adding capacity to non-renewable utilities. Their eyes are now fixated on investing in renewable energy and storage capacity to replace the ageing gas and nuclear plants in the U.S.

The second one is a growing competition not only between renewable and non-renewable energy sources but even within the renewables.

Supported by federal policies, solar is projected to increase in terms of being cost-competitive, possibly overtaking the current leader, wind, in terms of the levelised cost of energy (LCOE).

New opportunities

Offshore partnerships are growing in number and are expected to increase in 2020. The industry is also expected to boost efficiency by building larger turbines, taller towers, and longer cables.

The on-going coronavirus outbreak along with the recently resolved Saudi-Russia oil price war brings into the spotlight the importance of diversifying the U.S. energy portfolio. Investing in renewables will help the U.S. secure its energy dominance. This is another factor that can prod state leaders to look more into renewable energy investments.

Grid resilience

Erratic weather patterns in recent years such as the increased frequency of hurricanes, floods, and wildfires are quickly turning renewable energy investment into an imperative. In order to ensure the resilience of the grid in unexpected events, customers often turn to microgrids, supported usually by wind and solar.

To accelerate the growth in demand, lowering the cost of batteries is also important. Deloitte observed significant decreases in the past years, however, the price of renewable energy storage continues to be a huge barrier in investing in renewables.

Innovation

In 2020, Deloitte expects corporations to continue their cooperation with utilities in order to form new initiatives and support innovations.

Corporations being involved in community projects which group together small businesses and residential customers is another way to fuel collaboration and consequently, innovation.

Deloitte made these observations and projections without taking into consideration the COVID-19 pandemic we are experiencing. As discussed earlier, the coronavirus outbreak brought down oil demand and revealed the importance of diversification.

Other than that, only time can tell what would be the other effects — beneficial and detrimental — of the pandemic to the growth of the renewable industry for this year.

Total
0
Shares
Share
Tweet
Share
Share
Related Topics
  • Battery Storage
  • Economy
  • Market
  • Renewables
majulah

Previous Article
  • Features
  • People

How Online Therapy Is Helping Those Who Are Struggling Mental Health Issues During COVID-19 Lockdown

  • May 6, 2020
View Post
Next Article
  • Lah!
  • Society

SMU Announces $2.5 Million Resilience Fund

  • May 6, 2020
View Post
You May Also Like
View Post
  • Lah!

Tariffs, Trump, and Other Things That Start With T – They’re Not The Problem, It’s How We Use Them

  • John Francis
  • March 25, 2025
View Post
  • Lah!

Canonical announces 12 year Kubernetes LTS

  • John Francis
  • March 4, 2025
dotlah-smartnation-singapore-lawrence-wong
View Post
  • Artificial Intelligence
  • Featured
  • Features
  • Lah!
  • Machine Learning
  • Technology

Growth, community and trust the ‘building blocks’ as Singapore refreshes Smart Nation strategies: PM Wong

  • Dean Marc
  • October 9, 2024
dotlah-singapore-ndp-2024
View Post
  • Lah!

Here’s what to expect for NDP 2024!

  • dotlah.com
  • August 9, 2024
dotlah-singapore-airlines_may_21-1716298816
View Post
  • Lah!

Severe turbulence during Singapore Airlines flight leaves several people badly injured. One man died

  • majulah
  • May 22, 2024
dotlah-pm-lee-lawrence-wong-9656d4cd-1fa4-40ed-905d-e19e639b8476_728802dd
View Post
  • Lah!
  • People
  • Politics

End of Lee Era for Singapore as PM Steps Down

  • dotlah.com
  • May 16, 2024
DPM Lawrence Wong will be Singapore's fourth prime minister on May 15. ST PHOTO: LIM YAOHUI
View Post
  • Lah!
  • People
  • Politics

7 things to know about Singapore’s next prime minister Lawrence Wong

  • dotlah.com
  • May 15, 2024
When asked about his leadership style, DPM Lawrence Wong said he will be open and consultative, but he will not shirk from doing what is necessary for Singapore's future. ST PHOTO: LIM YAOHUI
View Post
  • Features
  • Lah!
  • People
  • Politics

‘We are prepared to relook everything’: Lawrence Wong on a changing society and his hopes for S’pore

  • dotlah.com
  • May 15, 2024


Trending
  • 1
    • Lah!
    • Technology
    Singapore’s Startups Step Up Innovation Against COVID-19
    • June 21, 2020
  • 2
    • Society
    • Technology
    How To Make Sure Tech Doesn’t Leave People Behind
    • January 9, 2020
  • 3
    • Society
    OCBC Bank Supports Singapore’s First Community Shop That Provides Food That Low-income Households Truly Need
    • February 12, 2020
  • 4
    • Lah!
    How Singapore’s World-Famous Street Food Could Disappear
    • June 3, 2019
  • 5
    • Lah!
    • Science
    • Technology
    How Imprisoning Algae In Liquid Droplets Can Boost Its Electrical Energy Generation
    • October 21, 2021
  • Pride 6
    • People
    The Impact Of Corporate Pride
    • June 23, 2023
  • 7
    • Technology
    Singles’ Day Deals: Best Messenger Bags On AliExpress
    • November 10, 2019
  • 8
    • Cities
    MAS Advises Financial Institutions To Adopt Recommended Measures For DORSCON Orange
    • February 9, 2020
  • 9
    • Lah!
    • Society
    ​NTU Singapore Disburses S$1.5 Million In Financial Aid To Students Impacted By COVID-19
    • August 27, 2020
  • 10
    • Cities
    • People
    How Pandemics Have Changed American Cities – Often For The Better
    • June 25, 2020
  • Rise of Superintelligence 11
    • Featured
    • Research
    • Science
    • Technology
    Beyond AI. The Multifaceted Journey To Superintelligence.
    • July 8, 2023
  • 12
    • Cities
    How The West Can Adapt To A Rising Asia
    • September 2, 2019
Trending
  • 1
    Meralco PowerGen’s PacificLight starts up 100 MW fast-response plant in Singapore
    • June 20, 2025
  • 2
    A Father’s Day Gift for Every Pop and Papa
    • June 14, 2025
  • 3
    Apple services deliver powerful features and intelligent updates to users this autumn
    • June 12, 2025
  • 4
    Apple supercharges its tools and technologies for developers to foster creativity, innovation, and design
    • June 11, 2025
  • 5
    It’s time to stop debating whether AI is genuinely intelligent and focus on making it work for society
    • June 8, 2025
  • 6
    PBBM asks Singapore to invest more in PH renewable energy projects
    • June 6, 2025
  • 7
    Singapore PM Wong arrives in Malacañang
    • June 4, 2025
  • 8
    Renewable energy, carbon credits are priority areas of cooperation for Singapore, Philippines: Lawrence Wong
    • June 4, 2025
  • 9
    Singapore businesses eye more investments in PH, says PM Wong
    • June 4, 2025
  • 10
    The Summer Adventures : Hiking and Nature Walks Essentials
    • June 3, 2025
Social Links
dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Connecting Dots Across Asia's Tech and Urban Landscape

Input your search keywords and press Enter.