Who is leading in renewable energy? | CNBC Explains

Summary

The video explores the global shift toward renewable energy as governments invest in solar, wind, and hydropower to combat climate change. It highlights countries leading the renewable energy charge, such as China, the U.S., and Germany, and examines the challenges these nations face due to geographical limitations and unpredictable natural forces. The video also discusses innovative solutions, such as battery storage, microgrids, and advancements in 3D printing for energy technology. As global energy demand continues to rise, the video stresses the importance of continued investment and innovation to meet future energy needs sustainably.

Takeaways

• 😀 Renewable energy is a growing sector, with global adoption increasing due to falling costs and green policies.
• 😀 Major countries leading in renewable energy generation include China, the U.S., Brazil, India, and Germany.
• 😀 The geographical and environmental factors of a country play a significant role in the type of renewable energy they use.
• 😀 Solar energy faces challenges in places like Singapore due to unpredictable cloud cover, despite its sunny climate.
• 😀 Countries like Iceland, Denmark, and Sweden lead in renewable energy per capita, showcasing how size and policy align with production capacity.
• 😀 Over 75% of energy in Norway, New Zealand, Brazil, and Colombia comes from renewable sources, primarily hydroelectric and bioenergy.
• 😀 Some oil-rich nations like Saudi Arabia and Kuwait have limited renewable energy, with almost negligible adoption.
• 😀 Norway’s reliance on hydropower is supported by its geography, with extensive coastlines, valleys, and high levels of running water.
• 😀 Innovation in energy storage and new technologies like Elon Musk’s Tesla battery system are essential for overcoming the intermittency of renewable energy.
• 😀 The global push for carbon neutrality by 2050 and the Paris Agreement are key drivers for renewable energy adoption worldwide.
• 😀 Emerging technologies, such as 3D printing for solar panels and kinetic energy harvesting, are reducing costs and improving efficiency in the renewable energy sector.

Q & A

What percentage of the world's energy was generated from renewable sources in 2018?

In 2018, more than a quarter of the world's energy was generated from renewable sources, largely due to decreasing costs and increasing green policies.

What are the primary sources of renewable energy?

The most common sources of renewable energy are solar, wind, geothermal, biomass, and hydropower.

Why is solar power not widely adopted in Singapore despite its sunny climate?

Solar power adoption in Singapore is hindered by unpredictable cloud cover and other geographical limitations, making it more challenging for solar power to be reliable.

Which countries have the largest renewable power capacity?

China, the United States, Brazil, India, and Germany have the largest renewable power capacities globally, primarily due to their large size and energy consumption needs.

Which countries lead the world in renewable energy per capita?

Iceland is the world leader in renewable energy per capita, followed by Denmark, with Germany and Sweden tied in the third spot, and Finland rounding out the top five.

What is the renewable energy share in countries like Norway and New Zealand?

Countries like Norway and New Zealand have a strong renewable energy presence, with over 75% of their energy production coming from renewables like hydropower and wind energy.

Why do some oil-producing nations like Saudi Arabia and the UAE have low renewable energy use?

Oil-producing countries like Saudi Arabia, the UAE, and Algeria have little reliance on renewable energy due to their abundant fossil fuel resources and the existing infrastructure supporting oil-based energy.

What role does geography play in a country's renewable energy capabilities?

Geography plays a crucial role in renewable energy adoption. For example, Norway’s extensive coastlines and steep valleys make hydropower feasible, while Sweden uses bioenergy due to its large forested areas.

How did Venezuela's dependence on hydroelectricity lead to energy crises?

Venezuela's reliance on hydroelectricity, particularly the Guri Dam, left the country vulnerable during droughts, as the low water levels in the dam led to power shortages in 2010 and 2016.

What technological innovations are helping address renewable energy storage challenges?

Technological innovations, such as Tesla’s large lithium-ion battery in South Australia, are helping store energy from renewables. Additionally, localized microgrid systems are being used in remote areas to provide reliable energy storage.

What are some emerging technologies that could reduce the cost of renewable energy?

Emerging technologies like 3D printing are helping reduce the cost of producing solar panels and wind turbines. Over the past decade, the cost of solar panel installation has dropped by 65%, making renewable energy more affordable.

How are global energy demands expected to change in the future?

As the global population grows and economies continue to expand, energy demand is expected to rise, which means renewable energy will need to meet both current and future energy needs.