President Xi Jinping’s pledge this week at the United Nations General Assembly that China will not build new coal-fired plants abroad is welcome news; however, Asia’s transition to low carbon energies remains in dire need of policy reforms.
In a short interview with pv magazine, Indra Overland, head of the Center for Energy Research at the Norwegian Institute for International Affairs, explains how keeping a cap on gas and electricity prices is crucial to avoid long-term political damage and a loss of support for decarbonization plans. While it is difficult to say what the overall impact on the world economy will be, high costs and instability are rarely beneficial for economic growth, he says.
The switch from fossil fuels and nuclear will bring a jobs dividend thanks to the greater labor-intensity of renewables plants, according to a paper published by Finland’s LUT. However, the jobs dividend is unlikely to be evenly spread around the world, with Europe set to be a big winner.
Polluting energy sources received more than $3 trillion from the EU and 19 of the world’s largest national economies over that four-year period, despite G20 members having pledged to phase-out fossil fuel subsidy and address climate change back in 2009.
The question of overly complicated, time-consuming permitting processes again raised its head at a two-day online event held by the Global Solar Council to examine how to accelerate deployment of photovoltaics.
A Carbon Tracker report estimates 60% of the world’s technical solar potential – enough to produce 3.5 exawatt-hours of clean electricity per year – would already be cheaper than fossil fuel if installed. Of the remainder, most would be in sub-Saharan Africa, a region which has the potential to be a global solar and wind powerhouse.
A leaked letter apparently sent by a diplomatic official states Beijing will no longer consider coal-related investment in Bangladesh, firing speculation that policy could be applied along all of the vast twin trade routes.
That was just one of the revelations of the latest Dentons’ Guide to renewables investment in Europe, which also noted solar plants could be switched off in Slovakia, Ireland could go either way on clean power pricing, and Luxembourg is struggling with a surprising headache.
The bloc should accelerate investment into mining and processing within its shores, as well as ramping up recycling, according to European employers and trades unions, with coal workers already equipped with the necessary transferable skills.
A new report from the Hydrogen Council has estimated that the current hydrogen project pipeline, if realized, would exceed investments of $300 billion by 2030. The report comes amid an acceleration in hydrogen project announcements worldwide and great expectation of hydrogen’s potential in the energy transition.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.