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Renewable energy capacity, particularly solar and wind, is expected to see significant growth in the coming year as demand for emerging sectors such as data centres continues to rise. According to Rystad Energy, solar and wind capacity is projected to reach a new record in 2025, adding close to 1,000 TWh of electricity to meet the increasing demand.
This growth in renewable energy is being driven by the rising demand for data centres, electric vehicles, and industrial decarbonisation efforts. Data centres alone are expected to more than double their energy demand by the end of the decade, reaching 860 TWh. This is due to the increasing reliance on technology companies and their need for continuous power supply.
To meet this demand, companies are exploring additional baseload sources, including agreements to purchase power from existing nuclear plants and the growing interest in small modular reactor technologies. This will help ensure a stable and reliable power supply for these emerging sectors.
The continued growth of renewable energy is also expected to have a positive impact on the global energy market, providing cleaner and more sustainable sources of power. This will also help in reducing carbon emissions and supporting efforts towards a more sustainable future.
Overall, the growth of renewable energy, particularly solar and wind, is set to play a critical role in meeting the increasing demand from emerging sectors and driving the global energy market towards a more sustainable future.