Renewable Power Set to Break Global Record
Renewable Power Set to Break Global Record
Generating electricity with the use of wind, solar and other renewables increased to a record level in 2021 worldwide. Renewable’s growth this year is increasing at a fast rate due to the strong policy support by China, the European union, and Latin America.
In 2021, 295 gigawatts of new renewable power capacity were added according to the IEA’s latest Renewable Energy Market Update. These capacity additions are expected to rise this year to 320 gigawatts. Solar power is set to account for 60% of the global renewable power followed by wind and hydropower.
Without the current supply chain and logistical issues, the rate of expansion in the capacity of renewable energy sources would be significantly faster. Due to heightened commodity and freight prices, it is anticipated that the cost of establishing solar PV and wind facilities will remain higher than pre-pandemic levels throughout 2022 and 2023, reversing a decade of dropping costs. They are still competitive because natural gas and other fossil fuel substitutes have seen considerably higher price increases.
What does this mean for BES?
We have introduced new pricing which is valid until December 30th, 2022. Despite the high inflation rates, we have kept the increase limited to 3.2%. We have also introduced pricing options for purchasing the Anorra Turbines without the tower system for those who already have a tower system. Our objective is to provide an opportunity for Canadians in rural settings to join the clean renewable energy generation... to be able to do your part in increasing the use of renewable energy.