The world is moving away from fossil fuels, a transition powered by the rise of renewable energy and widespread electric vehicle (EV) adoption. In 2019, only 17 percent of US electricity generation came from renewable sources. In July 2020, now president-elect Joe Biden unveiled a US$2 trillion green infrastructure and energy plan that will represent a large-scale shift toward renewable energy, with the goal of reaching 100 percent renewable energy by 2035 and net-zero emissions no later than 2050.Globally, supplies of renewable electricity are expected to expand by 50 percent in the next five years. The European Union’s renewable energy directive sets a target of 20 percent renewables for 2020 and 32 percent by 2030. Europe is currently leading in EV sales with 57 percent growth for the first half of 2020. Latin America has pledged 70 percent renewable energy by 2030 while West African states are aiming for 38 percent by 2030. QUOTE With the new administration now a reality there whole renewable market shift especially in relation to electric vehicles IMO.
