Carbon Criminal: A Literature Review Chasing the Smooth Break of Renewable Energy into the Power Spectrum

Abstract

In a world grappling with heightened carbon levels, the imperative for mankind to coordinate efforts toward a carbon-reduced future has reached a critical juncture. Against this backdrop of ecological urgency, the emergence of renewable energy harmonizes as a crucial note, promising a melodic progression in the collective journey toward sustainability, decarbonization, and climate change mitigation. This comprehensive review navigates through the literature, offering a panoramic exploration of the historical, contemporary, and prospective landscapes of renewable energy sources. It delves into their merits, drawbacks, research gaps, and various storage and transmission methods. The study deeply compares the efficiency of renewable sources, considering factors such as the levelized cost of electricity, capacity factor, and installation costs. Additionally, it highlights the practical applications of renewables through insightful case studies. The central focus is on assessing the status of renewables in the energy mix, elucidating its holistic capacity amidst rising energy demands, and examining prevailing policies, research investments, and the contributions of oil companies to the renewable industry. The review envisions renewables claiming a larger share in electricity generation than fossils, but recommends alliances with hydrogen energy and carbon capture, utilization, and storage for a low-carbon future. It stresses continuous advancements in renewable technologies and enhancing efficiency, reliability, and scalability to accelerate the transition to sustainability.