By 2040, the IEA anticipates power generation prices from renewable sources to be equal to those from coal and natural gas. In order to meet their energy needs, numerous nations, like Denmark, Australia, Germany, and the United States, are embracing renewable energy sources more and more. For instance, the IEA reports that in Denmark, Portugal, and Uruguay, wind energy provided around 42%, 23.2%, and 15.5%, respectively, of the total electricity consumption in 2015. China accounts for around 70% of the world's solar water heating systems, which is a significant contribution to the adoption of Renewable Energy Technologies Market for heating. Over 70 million households throughout the world have a portion of their water heating needs satisfied by solar water heating systems.
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