A joint study by Finland’s Lappeenranta University of Technology and Energy Watch Group presented on the sidelines of the COP23 talks in Bonn demonstrates that a global transition to 100% renewable electricity could be achieved by 2050, and would be more cost effective than the current electricity system.
While China accounted for three-quarters of the investment reduction in clean energy in 2016, other non-OECD countries spent 25% less on renewables last year compared to 2015, according to BNEF and Climatescope data. 2009’s Copenhagen pledge by richer countries to support developing world also falling short.
Energy innovations will be centered on digital technologies and the strategic use of data, with focus shifting from fossil fuel operation and maintenance to distributed renewables and the connected home, reads a BNEF report, adding that the market size for digital technology in energy will grow to $64 billion by 2025.
Meeting in Bonn should create an ‘operating manual’ for implementing the actions agreed upon at COP21 in Paris in 2015, says the UN.
The latest market analysis from industry body SolarPower Europe predicts that global PV demand will reach the 100-gigawatt mark for the first time in 2017.
The German-based analyst and polysilicon specialist believes that newly installed solar PV capacity will hit 95 GW in 2017 and could hit 100 GW. Polysilicon spot prices set to fall by end of year.
Despite 7% lower product sales, the latest global Off-grid solar market report from the World Bank Group reveals that market is thriving. However, industry needs to move quicker if it is to achieve global 2030 universal energy access goal.
At the recent PV Taiwan event, pv magazine caught up with Lu Zhao, head of PV System Technology Group at the Solar Energy Research Institute of Singapore (SERIS) to discuss the current potential of floating PV applications, and examine how hydropower coupled with floating solar could become a world-leading energy sector.