Increased Share of Renewables Will Accelerate Business Growth for Volue
The recently published global half-year electricity analysis shows that wind and solar generate one-tenth of global electricity, while the share of coal burn is decreasing. This is good news for companies providing solutions with a positive impact on the planet, people, and profits.
"The transition from fossil to renewable power production is one of the greatest challenges of our time - and it will remain so for many years to come. The power sector will spend up to $5 billion on software in the next years to optimise the performance, costs, and revenues of generation and grid assets. Volue is perfectly positioned to take a large share of a market that needs software and services to balance volatile renewable production," says Johannes Holdø, Head of Marketing Volue.
Ember’s new analysis includes national electricity generation for 48 countries making up 83 % of global electricity production. The main findings in the report are:
- Wind and solar generation rose 14% in the first half of 2020 compared to the same period in 2019, generating almost a tenth of global electricity.
- Global coal generation fell 8,3% in the first half of 2020 compared to the same period in 2019.
- The coal share fell from 37,9% in 2015 to 33% in the first half of 2020.
- The global electricity transition is off-track from the 1,5% degree goal. Coal needs to fall by 13% every year this decade.
“We are building flexible platforms that retrieve and process billions of data points in real-time. With this data, we optimise the complete value chain from the asset to the end-users,” says Holdø.
“The demand for our solutions is rising at the same pace as the share of renewable electricity production. The electricity market in ten years will no longer be the same as in 2020, but one thing is for sure: Volue will provide the platforms and services needed to balance the market and increase yield for our customers, says Holdø, Head of Marketing Volue.