Increasing Energy Demand
According to the International energy association, the worldwide demand for electrical energy is growing every year and energy consumption will increase by more than 60% over the next 20 years. The threat to the environment caused by the rise in emissions is a serious issue on global political and economical agendas.
Increased environmental awareness and limited fossil energy resources are the driving force behind the escalating importance of renewable energy. The solution to growth in energy consumption can be delivered – not by creating more, but by wasting less. Renewable energy sources have enormous potential to contribute to this global goal, as they are sustainable and can be used locally.
The International Energy Agency (IEA) has forecast that by 2030 renewable energy can account for over a quarter of energy consumption worldwide. Other experts estimate that it could even reach the figure of 50% by 2050. As a core technology, the semiconductor industry will play a large role in this. After all, the reliability of plants – as well as a high degree of efficiency and minimal losses when converting electrical energy in the networks – is largely dependent on this industry.