As reported earlier this week, the Oil and Gas Climate Initiative (OGCI) is to invest $1 billion over the next ten years in the development and deployment of innovative low emissions technologies. Funds unlikely to find their way towards renewable industry.
Data for the first six months of 2016 shows warmer weather and increasing renewable energy use cutting into demand for fossil fuels.
Climate change envoy critical of Germany’s coal compensation and the U.K.’s tax breaks for oil and gas as concern grows over lack of tangible progress post-Paris among many leading nations.
International Solar Alliance launches its first two initiatives, aiming to ensure affordable financing for solar projects and scale up solar applications for agricultural use.
Opening ceremony for the World Future Energy Summit outlines renewable energy challenges and announces winners of Zayed Future Energy Prize.
BNEF calculates that 57 GW of solar PV was installed last year, marking an increase of around 30% on 2014. Latest figures also show that, despite factors which could have impeded growth, clean energy financing reached US$329.3 billion in 2015. Chinese and U.S. markets led the charge, alongside a host of new markets; European activity, however, decreased.
Famous musician and popstar Akon is figurehead and founder of the Akon Lighting Africa initiative, which has provided affordable solar power to more than one million Africans. Akon’s goal, with the help of his business partners Samba Bathily and Thione Niang co-founders of Solektra International is to bring solar energy to 600 million people in Africa. pv magazine caught up with all three at the recent COP21 UN Climate Change Summit in Paris to talk about this initiative.
The U.K. Government has set the new solar PV tariffs. Representing a partial victory, cuts will not be severe as anticipated 64% instead of 87% for residential however, fears are nearly 19,000 jobs could still be lost. Quarterly caps have also been imposed which, says STA, could be damaging. Solar can still be a “reasonable” investment, it concludes. The new rates will come into effect on February 8. Despite the limited success, harsh criticism has been aimed at the government, particularly in light of its decision to end ROCs and grandfathering.
Off Grid Electric has secured US$45 million in investment to realize its aim of installing solar and battery storage in one million homes in Tanzania over the next three years.
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