The traditionally conservative International Energy Agency (IEA) predicts the cost of solar energy will fall to around 4c/kWh in coming decades as the sun becomes the largest source of power generation across the world. The latest “Solar Roadmap” published by the IEA on Monday shows that the speed with which solar is reaching “socket parity” has taken the world by surprise, writes Giles Parkinson of Reneweconomy.com.au. … [Read more...]
World’s largest cleantech investor unveils strategy
Cheng Kin Ming, whose recent investments in solar companies are estimated to be worth nearly $20 billion – making him the world’s largest private investor in clean technologies – has unveiled his vision for the Age of Green Cities at The Next Generation Solar PV Finance event in New York. He spoke publicly for the first time about his strategy to accelerate the world’s transition to green cities. His approach is to identify the world’s best, … [Read more...]
IEA: Solar energy could be the largest source of electricity by mid-century, if …
The sun could be the world’s largest source of electricity by 2050, ahead of fossil fuels, wind, hydro and nuclear, according to a pair of reports issued today by the International Energy Agency (IEA). The two IEA technology roadmaps show how solar photovoltaic (PV) systems could generate up to 16% of the world’s electricity by 2050 while solar thermal electricity (STE) from concentrating solar power (CSP) plants could provide an additional 11%. … [Read more...]
NEC and RSE in Italy show how renewable energy producers can make money by helping to balance the grid
NEC Italia SpA, which calls itself “the smart energy competence center for Europe and the Middle East”, and Ricerca Sistema Energetico SpA (RSE), a specialist in electro-energy research, will on 18 September release details of a new study showing how variable renewable energy sources can actually help balance the grid (rather than upset its balance). In this way, producers of renewable energy will be able to offer additional services to grid … [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...]
IEA: two-thirds of energy efficiency potential unrealised
The benefits of energy efficiency go well beyond the simple scaling back of energy demand, according to a new report, Capturing the Multiple Benefits of Energy Efficiency, from the International Energy Agency published on 9 Sepember. In a study that reframes the discussion about the so-called “hidden fuel”, the IEA shows how energy efficiency has the potential to support economic growth, enhance social development, advance environmental … [Read more...]
UK capacity market “will boost baseload not balancing power”
The upcoming UK capacity market is supposed to support the integration of renewables into the grid. But will it do that or will it primarily serve to bring new baseload capacity online? UK Power Reserve, an independent developer and operator of small, flexible generators, wonders whether the UK’s plans will squeeze existing providers of flexible capacity or stimulate investment. CEO Tim Emrich tells Energy Post how he has been making money by … [Read more...]
The future of energy storage in Europe
With the increase of variable renewables on the grid, the need for electricity storage will only grow. But what kind of storage? According to Philip Hiersemenzel of German battery manufacturer Younicos, business opportunties will for now lie in short duration services. Based on his company’s modelling, he says large-scale grid storage does not make sense – yet. Without storage, 40% renewables is max. Mike Stone of Energy Storage Report … [Read more...]
Is the US Department of Commerce protecting utilities from the solar revolution?
At the end of July, the US slapped new import duties on solar products from China coming on top of earlier “anti-dumping” levies. These measures are damaging for US consumers, the US economy and the renewable energy sector, writes solar power entrepreneur Peter F. Varadi, author of a new book on the history of the PV industry. Indeed, it now turns out that even the vast majority of the US solar industry is opposed to them! So why does the … [Read more...]
IEA: Utilities should change business model – not count on capacity mechanisms
Utilities in Europe and North America “have to change their business model, whether they like it or not”, says the International Energy Agency (IEA). At the same time, the IEA is very critical about the plans of several European countries to set up capacity schemes which the large European enegy companies are pleading for. “We should try energy-only solutions first before we try capacity schemes”, says Maria van der Hoeven, Executive Director of … [Read more...]
Global renewable energy at the cross-roads
Is the renewables glass half-full or half-empty? That’s the central question that appears to run through the International Energy Agency (IEA’s) new comprehensive market report on the state of renewable energy in the world. The answer is complex. Renewables have made “tremendous progress”, notes the IEA, but growth “falls short of global climate change objectives”. Karel Beckman reports. … [Read more...]
Professor Henrik Lund: Denmark proves complete fossil fuel independence is possible
Complete independence from energy generated from fossil fuels is possible. Professor Henrik Lund, of Aalborg University, believes that a system based 100 per cent on renewable energy is a viable option and could be achieved by 2050 in Denmark. Renewable energy systems (RES) planning can also be successfully applied to other countries worldwide. During his extremely well attended plenary lecture at CHISA, the 21st International Congress of … [Read more...]
MeyGen tidal energy project in Scotland gets another boost
Atlantis, owner of the world’s largest planned tidal stream energy project, MeyGen, has been awarded a ÂŁ7.5 million two year contract with the UK’s Energy Technologies Institute (ETI) to deliver a multi-turbine foundation structure which will support a further two turbines at the Atlantis-owned MeyGen tidal stream array in the Pentland Firth, Scotland. The agreement with ETI marks the start of Phase 2 of the ETI Tidal Energy Converter … [Read more...]
Let’s start a European tidal lagoon industry
A unique, ÂŁ1 billion plan to build the world’s first tidal lagoon in Swansea Bay in Wales has won strong local support. Stephen Tindale, associate fellow at the Centre for European Reform in the UK, who is involved in the project, argues that the EU should support it  and help create a new European tidal lagoon industry. … [Read more...]
UBS and Citigroup expect massive solar-EV revolution
Analysts from UBS and Citigroup, two of the world’s largest investment banks, believe the growth of solar power, in combination with advances in batteries and electric cars, will cause a huge disruption in the energy industry. UBS believes centralised fossil fuel generation  will become “extinct” sooner than most people realise. Citigroup predicts renewables will replace coal and gas in power generation, which will free up the use of gas as a … [Read more...]
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