Each 1.8 GW of new gas generation capacity could be replaced by 1.7 GW of solar as part of a cleaner, 6.3 GW collection of renewables and energy storage facilities–and that alternative already comes in cheaper than the business-as-usual approach, according to the Carbon Tracker thinktank.
The growth of the global renewables sector in 2020, despite the negative impact of the pandemic, underscores how companies are prioritizing sustainability, BloombergNEF says in a new report.
Falling module prices will help PV post another record year after an estimated 132 GW was installed worldwide in 2020, according to an energy transition investment trends report published by Bloomberg New Energy Finance.
Chinese polysilicon manufacturer Daqo has secured a long-term supply agreement with PV equipment provider and monocrystalline wafer manufacturer Wuxi Shangji Automation, Shanxi Coal International Energy Group has unveiled a plan to set up a 10 GW heterojunction solar cell production fab and Longi has held its wafer prices.
EV sales are set to be 1.7 million off because of the economic fallout of the Covid-19 crisis, however analyst BloombergNEF predicts that will be less of a hit than the anticipated fall in sales of conventional cars, increasing the penetration of electric models into the overall market.
A hot energy topic with little coordinated analysis, green hydrogen has finally attracted the number crunchers of BloombergNEF.
Many solar factories in China are starting to resume production, suggesting that concerns about supplies of PV components could soon begin to ease. Nevertheless, the temporary standstill will have an impact on the global solar market, as the implementation of some projects will probably be postponed until next year.
Corporations contracted a record amount of wind and solar energy through power purchase agreements in 2019, up more than 40% from the previous year’s record, says a new report from BloombergNEF. The bulk of this purchasing occurred in the U.S. with tech companies and oil and gas majors leading the charge.
The latest figures released by BloombergNEF show new solar and onshore wind power plants have reached parity with average wholesale prices in California, China and parts of Europe. The technologies are winning the race to be the cheapest sources of new generation for two-thirds of the world’s population.
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