[ad_1] Renewable energy sources have been gaining traction over the years as more countries and corporations prioritize sustainability. The Global Renewable Portfolio Standards (RPS) Competition exemplifies this trend, as it aims to encourage the use of renewables by setting targets for renewable electricity generation.

In the most recent edition of the competition, which took place in 2020, eight countries participated, including Australia, Canada, China, India, Japan, South Korea, the United States, and the European Union. The competition evaluated each participant’s RPS policies and analyzed their progress in meeting their targets.

The results of the competition were promising, as all the countries showed progress in the adoption and implementation of renewable energy initiatives. China took the top spot, followed by the European Union and the United States.

China’s RPS policy is the most ambitious, and its progress towards achieving its goals is noticeable. By the end of 2019, China had already exceeded its cumulative target of 1,190 TWh for installed renewable energy capacity with a total of 1,340 TWh. The country aims to reach 95% of its 1,600 TWh target by 2030, with wind and solar power accounting for most of the capacity.

The European Union follows closely behind, with 16 member states exceeding their individual targets. The EU has a target of a 32% share of renewable energy in gross final energy consumption by 2030, and it is on track to achieve this target.

The United States, under the Biden administration, has re-committed to addressing climate change and promoting renewable energy. The country is aiming for net-zero carbon emissions by 2050, with a target of 100% clean electricity by 2035. Several states in the US, including California and Hawaii, have already reached their RPS target of 100% renewable electricity, with others following suit.

Another significant highlight of the competition is the increase in corporate participation. Leading companies, such as Apple and Google, have set ambitious renewable energy goals to reduce their carbon footprint. For instance, Apple is targeting 100% renewable energy throughout its entire supply chain by 2030.

Overall, the Global RPS Competition demonstrates that countries and corporations are ramping up their efforts to adopt and implement renewable energy initiatives. This drive will not only help mitigate climate change but also create investment opportunities in the renewable energy sector and promote job creation. It is, however, crucial to prioritize sustainable development, ensuring that economic growth is achieved sustainably while protecting the environment and promoting social inclusion.[ad_2]

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