Indian Ferro Alloys Faces Numerous Challenges in 2024
Europe Transforms Into Clean Energy in 2024 with Renewable Sources
By Shubhendra Anand , 05 February, 2024
With the beginning of 2024, the clean energy transition will take up more energy and speed to transform the energy sector into greener ways throughout the year. European countries are contributing towards green energy trends while moving into 2024.
The clean energy transition occurs in the renewable energy sector, where electricity and fossil fuels are the main attraction. The electrification of transportation to replace conventional vehicles and substituting solar and wind energies in place of fossil fuels are the essential goals of the clean energy transition in 2024. According to the surveys, renewable energy sectors are budding as an important industry offering technological advancements, solutions to adapt to new clean energy trends and others. Heavy investment in the renewable energy sector allows countries to develop various fields, such as transportation with increasing adoption of electric vehicles, growth of solar and wind energy, generation of green hydrogen, and others. The transition to clean energy is a pressing need to tackle environmental issues; therefore, achieving the carbon emissions target by the end of 2050 is vital.
Based on a survey, experts believe that green hydrogen usage in 2024 will lead to significant developments in the technological field. Electrolyzer technology will reduce the cost of green hydrogen production and aid the transition into sustainable energy. Solar and wind energy improvement will increase offshore energy production, replacing conventional energy sources; European countries are investing heavily. According to survey data, 56 percent of electricity will be produced from clean energy sources in 2023, while electricity production from coal will be reduced by 30 percent. Thus, Europe proves to be one of the most significant contributors to the clean energy transition for 2023, which is expected to move into 2-24. Germany is anticipated to catch up with momentum for the clean energy transition in 2024 as the electricity demand is supposed to grow along with the clean energy transition. Wind energy growth has been recorded to be up to 6.4 gigawatts, and solar energy growth will be up to 14 gigawatts in 2023, the main factor behind the increase in clean energy generation in Germany in 2024.Clean Energy Share in Germany's Electricity Generation in 2023
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Shubhendra Anand
Head Research
