Markets

The tipping point, where the world shifts from oil and gas to renewables, will be the year 2035, says Wood Mackenzie. This is when renewables and electric-based technologies converge, with around 20% of global power needs being met by solar or wind, and roughly 20% of miles traveled by cars, trucks, buses and bikes using electricity. Will the transition come soon enough, however?

Solar PV and wind energy are now evolving from established to the preferred energy sources, according to a recent Deloitte study analyzing the global renewable energy market.

Polish research institute IEO released a new analysis showing increasing power prices in the Eastern European country, due to the current energy policy, which still strongly relies on coal power. Replacing coal with solar power, it argues, would likely result in decreasing power prices.

Jamaica is currently targeting a 30% share of renewables in its energy mix by 2030. However, the nation’s prime minister says, “We can do better.”

An analysis of the World Wildlife Fund (WWF) assumes that a maximum of 2.5% of Germany’s land is needed for the energy transition. With a higher share of solar in the electricity mix, however, this percentage would be lowered to 2%. The study also says that the expansion of renewables will not endanger nature protection.

The Munich-based company will receive up to €2 million for a large-scale storage facility in southern Germany. The system will consist of 52 lithium-ion car batteries –which are also used in the BMW i3 – and will be coupled with a wind farm.

Rumors of a u-turn on energy policy in the White House have been substantiated by pv magazine’s enquiries, although the respite for renewables may prove temporary, thanks to another fossil fuel-friendly nomination by President Trump.

TSEC is planning to cut a fifth of its workforce as it changes focus to produce higher-efficiency PERC cells, against a backdrop of more generic products swamping the market because of a slowdown in the world’s biggest market.

Electrifying the global energy system with clean energy is the only way to reach the targets set by the Paris agreement on climate change and avoid the catastrophic scenarios outlined by the recent IPCC report. In an interview with pv magazine, Christian Breyer – Professor of Solar Economy at Finland’s Lappeenranta University of Technology – explains a 100% renewables model is not only technically feasible, but also the cheapest and safest option. With solar and storage at its core, the future energy system envisaged by Breyer and his team will not only stop coal, but also nuclear and fossil gas, while seeing solar reach a share of around 70% of power consumption by 2050. By that time, PV technology could cost a third of its current price.

The nation’s oil and gas provider is building its first small-sized PV projects at facilities operated by Ukrtransgaz, the Ukrainian gas transport system.