Industrial energy represents 24% of global emissions. The single greatest impact on climate emissions is to transition to renewable sources, improve transmission and add vast amounts of storage. It's also full of economic opportunity.
Solar energy generation has grown from just 1TWh in 2000 to 856TWh in 2020. Everyone underestimated the cost decline of solar, which is decades ahead of forecasts. According to BNEF, the world needs to add 455GW of solar PV every year to 2030 to achieve net-zero by mid-century.
Global wind energy generation has grown from just 31TWh in 2000 to 1,591TWh in 2020 - 51x growth in 20 years.
It's been estimated that we need to build 16,000,000 km of power lines by 2030 in order to facilitate the energy transition.
Stationary energy storage installations are expected to grow by more than 2,000% from 2020 to 2030, representing a $385 billion global market opportunity.
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