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Industry Overview
RENEWABLES
Converting renewable energy into powerful, reliable, and
efficient electricity
In the coming years, renewable energy will play a significantly greater role in power generation globally. Sources such as wind and solar enable a diverse, secure
and sustainable energy mix. Many governments have enacted policies that support the expansion of renewable energy. As more renewables enter the market,
project developers and operators are faced with the challenge of optimizing investment performance. This means controlling costs, attaining the highest energy
yields, complying with rigorous grid rules, and ensuring efficient transfer of energy onto the grid. There is also the challenge of managing grid stability. In the US,
cascading failures in the network and outages can cost the economy $1.5B on average each week.
POWER GENERATION BY SOURCE
FACTS & FIGURES
2
-50% 64
RENEWABLE ELECTRICITY
GENERATION IS THE SECOND
LARGEST GENERATION SOURCE
LEVELIZED COST OF ELECTRICITY
(LCOE) HAS REDUCED BY OVER
50% IN THE PAST 6 YEARS
OVER THE PERIOD 1971–2013,
HYDRO POWER HELPED AVOID
64GT OF CO
2
EMISSIONS GLOBALLY
2013
2040
22%
23%
4%
1%
11%
12%
22%
34%
41%
30%
Renewables
Nuclear
Oil
Gas
Coal