From a Golden Age of Gas to a âharsh realityâ in just a few years - the 2015 âGas medium-term market reportâ released by the International Energy Agency (IEA) on 4 June in Paris sounded a warning note to anyone who believes gas is bound to conquer the world. That can still happen - but only if gas drastically improves its competitiveness, said the IEA. … [Read more...]
Hydropowerâs big splash â Word Energy Council projects decades of strong growth
The global hydroelectric power market, which already represents 76% of all renewable global energy, has the potential to double to 2,000GW capacity by 2050 according to a new report from the World Energy Council, âCharting The Upsurge In Hydropower Developmentâ, presented today in Beijing. This doubling could be achieved even earlier, if governments and multilateral banks give help to emerging economies where hydropower resources are … [Read more...]
China can cut out most coal generation by 2050
A new study from the China National Renewable Energy Centre shows that China can rely on renewables for more than 60 percent of its total energy needs, including transportation, by 2050. Electricity could be supplied 85% from renewables and just 7 per cent from coal, writes Bobby Magill of Climate Central. Â But to achieve these targets, China needs to deregulate its electricity markets. … [Read more...]
Spainâs generation mix: almost 70% carbon-free
Spain gets 69% of its electricity generation from zero-carbon sources, reported the countryâs grid operator, Red Electrica de Espana (REE), on the 31st of March. The largest source of carbon-free electricity is nuclear power (23.8%), followed by wind (22.5%). The figures apply only to March 2015. … [Read more...]
European demand for renewable energy surges in 2014
The European market for renewable energy, documented with Guarantees of Origin, increased by 26.5 % in 2014 compared to 2013. For the first time, the demand surpassed 300 TWh, according to statistics from the Association of Issuing Bodies (AIB). This is nearly one tenth of all electricity demand in Europe (ca. 3,300 TWh) and one third of all electricity from renewable sources in Europe (ca. 900 TWh). … [Read more...]
China changes course: wind surges, coal stalls
The Chinese wind energy sector is growing at tremendously. China is expected to exceed its 2015 target of 100GW wind capacity by 30%, reports Tim Buckley, Director Energy Finance Studies Australasia at the Institute for Energy Economics and Financial Analysis (IEEFA) for Reneweconomy. At the same time, China is rapidly diversifying away from coal, towards more nuclear, renewables and hydropower. The implications for global energy markets are … [Read more...]