International Journal of Science, Engineering and TechnologyAuthors: Sachin Gihar
Abstract: This comprehensive research paper provides an extensive, in-depth analysis of the global transition towards renewable energy sources over the critical decade from 2010 to 2020. The study examines the exponential growth trajectories of Solar Photovoltaic (PV) and Onshore/Offshore Wind capacity globally, correlating these expansions with the dramatic reductions in the Levelized Cost of Energy (LCOE). During this timeframe, solar LCOE plummeted by over 80%, while wind costs decreased by approximately 50%, fundamentally altering the economic viability of green energy grids. Furthermore, this report investigates the environmental implications, particularly the mitigation of greenhouse gas (GHG) emissions, the geopolitical shifts in energy production, and the technical challenges associated with grid integration and energy storage limitations encountered up to the year 2020. Utilizing comprehensive datasets and detailed regional case studies (China, Germany, USA, India), this document serves as a robust repository of pre-2021 renewable energy analytics, culminating in a streamlined data annex summarizing annual global capacity metrics.
