As the world’s population continues to grow, so does the demand for energy. However, the downside to this demand is the pollution generated in the process of producing energy. The need to reduce pollution and use clean energy sources has never been more significant than now, and countries around the world are pushing themselves to achieve strict renewable energy targets. The Global Renewable Portfolio Standards (RPS) Challenge is one such initiative.
The Global RPS Challenge strives to incentivize the world to achieve cleaner and cheaper energy solutions by adopting Renewable Portfolio Standards. These standards involve the usage of renewable energy sources such as wind, solar, geothermal, hydropower, and others, which emit minimal to zero pollutants.
The primary objective of the initiative is to boost the generation of clean energy, while also incentivizing countries to compete with each other. During the creation of the RPS Challenge in 2019, the goal was to incentivize countries to reach at least 75% of their energy consumption from renewable energy sources by 2030.
The RPS Challenge has set its sights on fostering innovation in renewables and promoting sustainability across the world. Currently, some countries have already shown formidability by reaching 100% renewable energy consumption. Some notable examples include Iceland, Costa Rica, and Sweden.
However, the RPS Challenge is not just limited to the developed world, as developing countries like Kenya and Bangladesh have also made significant progress toward achieving their renewable energy goals by substituting the use of firewood and charcoal with solar power, making life simpler for their people, and helping in the fight against climate change.
The RPS Challenge sets a precedent to trigger more countries to initiate their renewable energy initiatives to rely on solar, wind, or other clean energy sources rather than non-renewable energy sources like fossil fuels or nuclear energy. The competition generates an added layer of urgency, akin to sporting events like the Olympics or the World Cup.
According to a report by IRENA (International Renewable Energy Agency), renewable energy jobs are projected to rise to 42 million by 2050. These targets display the immediate and increasing need to focus on renewable energy development and create opportunities for regions worldwide.
The pace of change in the renewable energy industry is continually pushing the limits of innovation as it is a combination of technology, engineering, and policy. The Global RPS Challenge acts as a platform to invite countries by incentivizing them to advance their clean energy plans. This push triggers intense competition between countries to meet the renewable energy targets, benefitting the planet.
In conclusion, the RPS Challenge is a commendable move by countries across the world in their bid to reduce pollution and combat climate change. The competition encourages innovation to promote sustainability and a cleaner future for generations to come.