Renewable Generation Capacity Additions in 2016 Highlight Industry Strengths and Further Potential of Integrated Technologies
Expected to account for the majority of new generation capacity additions this past year, a variety of renewable energy technologies continue paving the way for market dominance in the sector.
Since most renewable energy technologies come with fluctuating generating capacities (such as solar only providing optimal power with proper sunshine and other factors), Team Gemini couples several technologies whenever possible to offset any risks. The ability to draw on multiple energy sources and maintain safeguards with microgrids is key in providing fully-functioning, clean energy supplies. This is incredibly valuable to commodity-intensive industries that depend on power to maintain stable operations, and coupled with production processes with monitoring and control systems for automation, can avoid costly losses of inputs.
EIA data highlights prominent growth in a variety of renewable sectors. Among other things, this suggests that the industry continues developing a holistic model—while solar and wind are still the most dominant market forces, other renewables like CHP units continue playing a role in growth, and energy storage is increasingly becoming lucrative.
Once final data are in, EIA expects 24 gigawatts (GW) of new generating capacity to be added to the power grid during 2016. For the third consecutive year, more than half of these additions are renewable technologies.
Of the 2016 renewable additions, nearly 60% were scheduled to come online during the fourth quarter. Renewable capacity additions are often highest in the final months of the year, in part, because of timing qualifications for federal, state, or local tax incentives.
No single technology as of yet can provide all solutions, so Team Gemini and its members actively develop closed-loop project solutions involving bio-products, sustainable agriculture, wastewater treatment and conservation, and more.
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