Future is bright for renewable energy

Article Excerpt

It’s unlikely renewable energy will completely replace fossil fuels anytime soon. With its dependence on oil and natural gas, the world is unlikely—or unable—to make wholesale changes over short periods of time. However, change is taking place and renewable energy is growing rapidly, albeit from a low starting point. According to estimates from the U.S. Energy Information Administration (EIA), world energy consumption is expected to increase by 28% between 2015 and 2040. Most of the increase in demand will come from countries such as China and India where strong economic growth, population growth and rising incomes lead to rising energy consumption. However, as the world becomes more efficient in its use of energy, the demand for that power is now growing at a slower rate than the broader world economy. The EIA estimates that energy consumption will increase until 2040 for all sources of energy, except for coal. Although renewable energy and nuclear power are the world’s fastest growing forms of energy,…

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