Energy Transition By 2030 And What Hydrogen Has To Do With It?
- Emin Askerov
- Oct 16, 2024
- 1 min read
The IEA Renewable Energy Report 2024 is out today, and here is the core message: the Fourth Energy Transition looks certain to be accomplished by the end of the decade. This means that wind and solar combined will generate 30% of electrical energy worldwide by 2030.
If you throw in hydropower and other renewables, the energy transition already happened, and by 2030, renewables in total will generate over 45% of all energy. The bulk of heavy lifting will be done by China, with a little help from Europe, the US, and India. In any case, this will set a new time record for energy transitions - two decades instead of three.
What does all this mean for batteries? That the demand for stationary energy storage will pick up. Most research and practice have shown that after 30% renewable energy grid penetration, storing excess energy starts to become an issue. So watch out for those battery deployments in the next five years!
And what does green hydrogen have to do with it? Nothing, really. IEA sees it growing to 7% of today’s demand to about 0,8 EJ by 2030. In my view, even this is hugely optimistic.
Stay tuned for regular insights about scaling up clean technologies!
