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| Global demand for renewable energy is expected to surge |
| With population growth, industrialization, and the increasing application of technologies such as artificial intelligence (AI), global energy demand is expected to increase. Meanwhile, some major countries around the world are undergoing a green transition, and the demand for renewable energy is expected to soar in the coming years. According to the latest assessment, global electricity demand is expected to double by 2050 compared to 2020. This is prompting countries to increase their renewable energy production capacity to support green transformation and respond to growing demand. John Ketchum, CEO of NextEra Energy, a US energy company, recently stated that with the increasing popularity of artificial intelligence, global demand for renewable energy may double in the next seven years. In the second quarter of 2024, NextEra Energy received 3000 MW of renewable energy trading orders, of which 28% came from transactions supplying power to Google data centers. Ketchum said, "These results support our belief that most of the energy growth demand in the market will be met through a combination of renewable energy and battery storage. NextEra Energy currently has 7 billion watts of renewable energy delivered and awaiting delivery. NextEra Energy believes that the electricity demand for data centers, manufacturing, and economic electrification will grow at a rate of approximately four times in the coming decades compared to the past 20 years. Some energy intelligence companies have also expressed the same view, as the global demand for electric vehicles, industrial power, and data centers is rapidly increasing. As some major countries around the world strive to shift from fossil fuels to renewable energy, increasing renewable energy production capacity to meet growing demand while ensuring that the economy does not stagnate due to a shortage of renewable energy supply, this is a huge pressure. Rebecca Kuyava, CEO of NextEra Energy Resources, a subsidiary of NextEra Energy, explained, "The energy demand is very high, and I don’t think any utility company in the entire industry has seen such numbers. From a practical perspective, it takes several years for utility companies to absorb market demand and provide services In the coming decades, some fields will contribute to the growth of demand for renewable energy. Firstly, transportation electrification. Governments in some countries around the world have formulated strategies for the electrification of public and private transportation, including trains, buses, trucks, and household cars, which will drive a significant shift from fossil fuels to renewable electricity resources. In 2022, electric vehicles will account for about 2% of the global automotive market, and it is expected that this number will rise to 50% by 2035, indicating a significant change in energy demand for private transportation. As some heavy industries seek decarbonization operations, it is expected that global industrialization will also make a significant contribution to the growth of renewable energy demand. Many industries are investing in green hydrogen as a substitute for fossil fuels, and it is expected that the market value of green hydrogen will grow at an annual growth rate of 31% from 2024 to 2032. By 2030, as governments around the world put pressure on heavy industry to reduce carbon emissions, global deployment of green hydrogen is expected to reach 150 gigawatts, equivalent to approximately 63750 tons of production per day. One of the largest areas of demand growth for renewable energy is providing electricity for data centers adopting new technologies. With the increasing use of artificial intelligence services such as ChatGPT, it is expected that global electricity demand will rapidly increase. By 2026, energy consumption in data centers is expected to double and continue to grow. This has prompted many large technology companies to invest heavily in developing green energy to ensure they can produce enough clean energy to meet the growing demand for electricity. With the deterioration of the climate, the demand for electricity for cooling and heating is increasing. This is combined with the growth of the middle class in many emerging economies, especially the demand for air conditioning systems. In countries with colder climates, many governments encourage the use of heat pumps instead of gas boilers, and heat pumps also require more renewable energy to provide power. |
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| Release time: 2024-08-15 Click: 80 |
Company Name: Tianjin Shengfan Technology Corporation
Mobile Phone: 86-16600237486
Email: chris@dyessf.com
Website: www.dyessf.com
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