In the new report: “Global Landscape of Renewable Energy Finance 2023”, The International Renewable Energy Agency and the Climate Policy Initiative have concluded: Too Little, Too Late.
“The report finds that, although global investment in renewable energy reached a record high of $500-billion in 2022, this still represents less than 40% of the average investment needed each year between 2021 and 2030, according to Irena’s 1.5 °C scenario.”
“…despite reaching record-high yearly investments exceeding $500-million in 2021, investment in off-grid renewable solutions falls far short of the $2.3-billion needed yearly in the sector between 2021 and 2030.”
This does not bode well for grid reliability. Sure the majority of new capacity is renewable, but loads are growing and old plants are retiring. It is a race and one that will likely strain the grid. Many industry experts are forecasting insufficient generation for peak load times and predict rolling blackouts.
You should seriously consider backup power. Having on-site self generation will provide you with the ability to avoid outages from any cause and help your neighbors avoid blackouts. When the grid is under stress, the grid will pay you to turn on your generator to reduce load. This pays you and helps the grid avoid blackouts.
Many organizations would like to have backup power but don’t want to spend the money. No problem. Exergy Energy, your concierge utility, will provide backup power as a service and share the profits from helping the grid with you.