Utility-scale solar and wind deployments will hit a new record in 2022. The firm estimates that 44 gigawatts of solar will come online the following year, almost double 2021′s projected statistics.
FREMONT, CA: Solar and wind deployments will set new milestones in the upcoming year as the energy revolution gains speed. The forecast for solar is rough, twice as much as the 23 gigawatts of new capacity expected in 2021. The anticipated increases for wind in the future will undoubtedly beat the previous annual record of 16 gigawatts set in the past year. The growth in wind and solar power output is fueled by several causes, including the expansion of state-level renewable standards and the anticipated extension of tax benefits for the sector.
It is noted that there is an increase in corporate demand. The first and simplest approach for businesses aiming to reduce emissions is usually converting to renewable energy. The combined wind and solar capacity committed to non-utility companies will reach 40 gigawatts shortly. Growing as well as energy storage, which is essential for intermittent power sources like wind and solar. The following year anticipates the installation of 8 gigawatts of storage, which will be around six times more than the previous record.
The carbon-free power sector has made climate change a priority for his administration. The larger objective is to have the nation reach net-zero emissions by 2050, which includes this. Billions of dollars are allocated for clean energy projects in the infrastructure strategies. USD 555 billion will be spent on climate-related initiatives as part of the bigger USD 1.75 trillion social safety net and climate package.
According to Energy research, supply chain bottlenecks and rising raw material costs could threaten more than half of the world's projected solar buildout in 2022. The company calculated that 56 per cent of the anticipated 90 gigawatts of new utility-scale solar power projects worldwide could be postponed or cancelled.