Renewable sources in 2024: the decisive year for the future of the planet

2024 is emerging as a crucial year for the energy transition towards a more sustainable and environmentally friendly model. According to experts, this year historic milestones will be reached in the development and implementation of renewable energies, which could change the course of the fight against climate change.

Renewable energies, such as solar, wind, hydraulic or biomass, are those that are obtained from inexhaustible natural sources or that are regenerated faster than they are consumed. These energies have the advantage that they do not emit greenhouse gases or generate hazardous waste, which is why they contribute to mitigating global warming and preserving biodiversity.

However, renewable energies still have to overcome many challenges to replace fossil fuels, which continue to be the main source of energy worldwide. These challenges include increased energy demand and consumption, rising costs and interest rates, lack of infrastructure and political support, and the need to improve efficiency, reliability and integration of energy sources. renewable sources.

Despite these obstacles, the prospects for 2024 are promising, as renewable energies are expected to break records in installed capacity, production and investment. According to the International Energy Agency (IEA), global renewable energy capacity could increase by more than 20% and reach 550 GW of renewable power, if the development of clean sources, such as solar and wind, accelerates1.

In addition, more than 100 countries participating in the last climate summit held in Dubai, COP 28, agreed to triple renewable energy capacity by 2030, which in theory would raise global renewable energy capacity to at least 11,000 gigawatts2. This commitment represents significant progress towards meeting the Paris climate goals, which consist of limiting the increase in global average temperature to 1.5 degrees Celsius compared to pre-industrial levels.

Likewise, some countries have announced ambitious plans to promote renewable energies in their territories. For example, Mexico expects that 35% of the electricity generated in 2024 will be clean3, while Colombia expects 65% of the allocated renewable energy to come into operation in the next two years4. These initiatives are added to those of other nations that already lead the sector, such as China, the United States, Germany or Spain.

Investors also have a key role in supporting the growth of renewable energy, as it is one of the most attractive long-term investment opportunities. According to a BloombergNEF report, renewable energy will attract more than $13 trillion in investments through 2050, accounting for 77% of total energy investment.

Here are some examples of new renewable energy projects that are being developed in different countries:

Bolivia

In Bolivia, the Warnes Wind Farm is being built, which will have a capacity of 108 MW and will be the largest in the country. This project will contribute to diversifying the Bolivian energy matrix, which currently depends largely on natural gas.

Renewable energy in Spain

In Spain, the FUNGLASS project has been launched, which consists of using glass waste to produce thermal and electrical energy through a gasification process. This project, led by the National Center for Renewable Energy (CENER), seeks to reduce the environmental impact of the glass sector and generate new value-added products.

Colombia

In Colombia, four new renewable energy projects have been approved, which will add approximately 800 MW of installed capacity. These are the El Paso, Bosques de los Llanos, Valledupar and La Loma solar parks, which will be located in the departments of Cesar and Magdalena. These projects will avoid the emission of more than 1.3 million tons of CO2 per year.

Mexico

In Mexico, the EcoFlow Balcony Solar System with Portable Storage project is being developed, which consists of a portable solar system that can be installed on balconies, terraces or windows. This system, created by the company EcoFlow, allows you to generate and store clean energy for domestic use, reducing dependence on the electrical grid and consumption of fossil fuels.
These are just some of the many innovative projects being carried out in the field of renewable energy. These projects demonstrate that renewable energies are a viable, profitable and sustainable alternative to meet the energy needs of the population, while protecting the environment and combating climate change.

In short, 2024 is presented as the decisive year for the future of the planet, in which renewable energies will have to demonstrate their potential to transform the energy system and combat climate change. This is an enormous challenge, but also a unique opportunity to build a greener, fairer and more prosperous world.