With this greater focus and demand , there is increased interest in both improving existing renewable energy solutions and bringing new technologies to market .
The growing renewable energy generation
Year-on-year we are witnessing record increases in additional global renewable energy generation capacity , with the total worldwide generation now at over 300GW , doubling in capacity compared to 2015 .
Solar PV and Wind dominate the renewable energy mix worldwide , both steadily improving in their efficiency . Solar PV has benefitted from improved wafer and cell design , while the wind sector has experienced gains thanks to larger turbines providing increased yields . With electricity accounting for only a fifth of global energy consumption however , there is a greater need for power system flexibility . This flexibility is needed to integrate high shares of variable renewables in a reliable and costeffective manner and , perhaps even more critically , we must consider the role of renewables in the transition of the transportation and heating sectors to clean energy .
The renewable energy offtake constraints
While variable renewable energy yield increases , maximizing its offtake is primarily hindered by grid constraints . It already regularly leads to grid curtailment in countries with significant renewable energy production . While grid reinforcement offers the most direct solution , it is also the costliest . A more holistic approach is likely required to maximize the benefit of the everincreasing renewable energy yield . Fortunately , there are existing approaches we can take to address grid constraints : reduction in consumption through improved energy efficiency ; demand stabilization by use of storage ; and encouraging the use of smart tariffs and smart meters to enable energy consumers to change their behaviors in
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