09 August 2020
"Renewable Energy alone will not drive our Energy Revolution this century"
In the last decade, solar power has been the leading power generation technology deployed globally. Wind power takes the third position in this race. Overall, renewable energy accounts for more than 30 % of total installed power generation worldwide. Common sense would suggest that more than 30 % of our daily electricity demand must be met by renewable energy. However, as of 2018, less than 8 % of our electricity needs were met by solar and wind power.
The primary reason for this discrepancy is the intermittent nature of solar and wind power. We need electricity to power our cities every second of the day but the sun and the wind are at our disposal only for a limited number of hours.
Conventional power generating assets like coal, natural gas and nuclear power can produce power on demand and are essentially the spine of our power systems. For this reason they are called - base load power plants. Renewable Energy systems have made inroads in our energy systems but are unable to replace base load plants in our electricity systems due to their intermittent nature. But this is about to change.
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