Most of the developed nations in the world are working to reduce their greenhouse gas emissions. This is being done in order to help stave off the worst effects that might be experienced as a result of global climate change.

A part of curbing greenhouse gas emissions is finding and utilizing more sources of renewable energy such as solar energy and wind energy. Coal-fired power plants will need to be used less and less.

With global concerns in mind, what is the future of renewable energy? How much of the world’s energy needs will realistically be supplied be renewable sources of energy in the near and long-term future?

The majority of the available data suggests that renewable forms of energy have a bright future in the majority of the world. Green Energy Markets predicts that by the year 2020, 30 percent of the world’s energy needs will be supplied by renewable sources. By the year 2040, the amount of energy supplied by renewable sources jumps to 40 percent. One stunning statistic suggests that if all of the proposed renewable energy projects could be completed by 2030, 85 percent of energy needs would be from renewable sources.

Australia is one country that is making a significant investment in developing renewable energy production. Just in May of this year, 19,000 photo-voltaic solar units were installed on roofs. In 10 years, Australians are expected to save $223 million dollars on their energy bills as a result of the investment in solar energy.

In Australia this May, renewable sources of energy were responsible for keeping 2.4 million tons of carbon dioxide out of the atmosphere. This number will increase as more reliance is placed on renewable forms of energy.

In the United States, renewable energy is growing as well. The National Renewable Energy Laboratory has stated that the United States could generate much of its electricity from renewable sources by 2050.

Right now, there isn’t as much of push to develop clean energy from renewable sources as there is in other developed and developing countries. While the United States has much renewable energy potential, it remains to be seen if that potential will receive maximum development.

Even though there may be a few nations that don’t tap into their full potential, most nations will seek to develop renewable sources of energy. This means that renewable energy has a bright future ahead of it.