Germanyâs past renewables successes have been underpinned by government and public funds and guarantees. Its future will depend more and more on private investment, which means citizens and small investors must opt to put their money into green investments and take on risk. The good news is that surveys show citizens are very willing. The bad news is that few are actually doing it. Is it because the banks arenât promoting sustainable investments, … [Read more...]
2018 investment in renewables 12% down on 2017
At $272.9bn, 2018 investment in renewables capacity was 12% down on the previous year. Despite this, renewablesâ investment was three times the total for coal and gas-fired generation capacity combined in 2018. Over the last decade, $2.6tn was invested in renewables (half going to solar), quadrupling capacity to 1,650GW. Consequently, renewablesâ share of electricity generation reached 12.9%, up from 11.6% in 2017. This avoided an estimated 2bn … [Read more...]
Member States must decide: cash for climate or cash for carbon?
Over 3 billion euros of EU money meant for Europeâs poorer regions could be up for grabs by the fossil fuel industry if EU Member States do not change their current position on 25 June. The funding, which is part of the 374 billion Euro âCohesion Policyâ pot, was - in the European Commissionâs proposal - meant to go to sustainable economic activities. Yet if EU Member States get their way, a significant portion of the funding would be made … [Read more...]
Coal exit: top Asian banks join Europe, U.S.
Around the world, cheaper renewables, improved technology, and risks over reputation, financial performance and the environment are driving finance away from coal. In the early days it sometimes looked like âgreenwashâ, but over time commitments have ratcheted up to make it a reality. Europe and the U.S. have already made a good start, and Asia is now catching up. As renewables get cheaper nobody wants to be left holding billions in stranded … [Read more...]
IEA: Global energy investment stabilises at $1.8tn after 3 years of decline
Three consecutive years of declining global energy investment has ended. But itâs not risen, just stabilised at $1.8tn, according to the IEAâs latest report World Energy Investment 2019. To meet the Paris targets investment in efficiency needs to rise substantially, and double by 2030 for renewables: they have stalled for both. To meet soaring global energy demand oil and gas investments need to rise too. That demand is seeing cheap coal still … [Read more...]
2009 to 2017: solar, wind costs plummet, hydro steady, nuclear up
Between 2009 and 2017 prices dropped 76% for solar panels and 34% for wind turbines. Hydro and nuclear struggle to cut costs; as mature technologies, most of the efficiencies have already been squeezed out already. Also, they are difficult to productise and scale; dams (definitely) and nuclear plants (somewhat) are one-offs. In contrast, solar panels and wind turbines are far easier to productise and then mass produce. Itâs why wind overtook … [Read more...]
World Bank fossil fuel funding still exceeds renewables
The World Bank is being criticised for still lending far more money to fossil fuels projects than renewables. Energy equals development, but this goes against their commitment to supporting clean energy in the developing world. The World Bank has disputed the magnitude of the difference. Their record needs to be made clear before COP25 in Santiago, Chile this December when the World Bank and other development banks must present their plans for … [Read more...]
PPA 2.0: future-proofing corporate energy funding
Power purchase agreements (PPAs) are a significant tool for funding the energy transition. Research by DNV GL suggests that, as renewable energy becomes more widespread, its price dynamics becomes more complex, and that matters to PPAs. Some governments are looking to phase out subsidies and feed-in tariffs, effectively softening their price guarantees. Also, as renewables generation grows, market prices can fall. Martijn Duvoort, Director Energy … [Read more...]
“Responsible” ESG investments hit $20tn, a quarter of the worldâs professionally managed total
ESG (Environmental, Social and Governance) factors measure the sustainability and ethical impact of an investment. ESG includes the energy sector, and the amounts spent show itâs no longer just an ethical choice, says The Rocky Mountain Instituteâs Todd Zeranski. It doesnât just save the planet, it saves our pensions. Why? From regulatory penalties to the cost of climate clean-up, fossil fuel investments are getting too risky and expensive. Those … [Read more...]
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