The current global share of renewable energy is a little over two-thirds. By the decade’s end, this share should be up to thirty-three percent, but that share will continue to decline as new technologies come online. In addition, renewables in the U.S. electricity mix will remain at about twenty-eight percent. This is well above the level of twenty-three percent that it was in 2019.
Limitations of Renewable Energy Statistics
As of March 2017, wind and solar generated ten percent of US electricity. While this number is small, renewable energy has overcome many obstacles to become competitive with conventional power sources. The industry still faces significant obstacles, some inherent to new technologies while others result from a skewed marketplace and regulatory framework.
This page looks at some of the most common barriers to renewable energy. Read on for some solutions. This article will also examine some of the limitations of renewable energy statistics.
First, the data on the amount of energy produced can be misleading. Relative statistics tend to be tricky, especially if small numbers are involved. Furthermore, the media’s strategy often involves publishing optimistic forecasts for distant future objectives.
People rarely remember predictions that seem too promising. Secondly, comparative statistics are inaccurate when limited to a few countries. Nevertheless, renewable energy production and usage are rising worldwide, and governments and businesses are increasingly investing in alternative energy sources.
While renewable energy may be a good option for the future, the industry’s current state is problematic. It faces many challenges and lacks financial backing. Renewable energy is also more expensive, resulting in higher interest rates and slower development. And while renewable energy is becoming more affordable and popular, many countries are still experiencing high levels of electricity-related poverty. Nevertheless, this does not deter the industry, as governments can offer a fair share of the generated electricity to rural households.
Limitations of NAICS Data
The BLS is not reporting all green jobs, but a new survey aims to include them. The Green Jobs Survey will include establishments earning 50% or more of their revenue from green products or services. The BLS says agriculture should be surveyed as well, but the scope of the survey varies by state. Nonetheless, the survey is expected to begin in the summer of 2011, and data publication is anticipated in the summer of 2012.
The MECS provides both energy and establishment data. Both sets of data are categorized according to NAICS codes. For establishments, the energy intensity value is calculated by dividing the total thermal demand by the number of establishments. The total thermal demand per establishment is expressed in trillion Btu. These values are useful for market potential modeling but have some limitations. For example, the NAICS codes for greenhouse, nursery, and floriculture production (1114) do not match the corresponding steam temperatures.
The limited data set is also inadequate for analyzing the US’s green economy. Although other countries are already making significant investments in the green economy, the US has yet to make significant decisions about implementing such policies in its own country. The lack of data on renewable energy in the US is one of the reasons why the BLS has been unable to measure its impact on the US economy. The US government needs more accurate information to develop effective policies and regulations.
Relative Share of Renewable Energy in Electricity Generation in The U.S.
As of 2018, fossil fuels comprised a record low of 81% of the U.S.’s total energy consumption. The EIA projects that this percentage will drop to 76% by 2040, though this figure could fluctuate based on policy changes. Renewable energy sources accounted for the largest share of energy consumption since the 1930s, with solar electricity generation enjoying the most significant growth in the past decade. Solar thermal and wind energy have also experienced an increase in use in recent years. By 2020, the combined use of all renewables will exceed the country’s coal consumption.
Renewable energy sources are abundant and continuing. The power of falling water from rivers has been harnessed for decades and is now a mainstream energy source. Solar energy and wind energy have also been harnessed for heating and electricity, with biomass used in niche applications. Geothermal is the largest exception but is not yet widely available in the U.S. renewable energy may become a majority of the world’s electricity generation by 2020 if policies and incentives favor its use.
The production tax credit for wind energy in the U.S. has been in place since 1992. Currently, it is indexed at 1.5 c/kWh, and in some states, it reaches as much as 2.3 c/kWh. However, this subsidy only applies if the energy generated is enough to meet consumer demand. In Australia, the government has created a fallback tax of 4 cents per kWh for non-hydro renewable sources.