With Cape Town-based solar crowdfunder The Sun Exchange having generated $1.4 million for a 510 kW solar-plus-storage facility for Zimbabwean food company Nhimbe Fresh, pv magazine has spoken to the heads of both businesses–Sun Exchange CEO and founder Abraham Cambridge and Nhimbe executive chairman Edwin Moyo–about the fundraising exercise. First up is The Sun Exchange founder…
A report by McKinsey & Company reinforces the widely-held view renewables will supplant fossil fuels in the energy system but also joins the chorus of voices warning the world is on track to fall well short of limiting global temperature rises this century to 1.5C.
The private sector arm of the multilateral development bank has offered a $200 million credit line to Nedbank, the first commercial bank in South Africa to offer a green bond, which it did on the Johannesburg Stock Exchange in 2019.
The solar and wind industries could benefit from a $6.4 trillion boom under the most ambitious of two scenarios described by Bloomberg New Energy Finance, and $2.4 trillion even in the business-as-usual outlook.
The nation’s Ministry of New and Renewable Energy has reiterated that clean energy projects have not been affected by falling electricity demand as a billion citizens have been ordered to stay at home.
Analyst WoodMac has spelled out the urgent need to decarbonize the global hydrogen production industry. While the fuel can offer a sustainable grid balancing act for intermittent renewables, in its current fossil-fuel driven form it is pumping out more than 800 megatons of carbon into the atmosphere every year.
A report by Germany’s Energy Watch Group thinktank has said we would be better off sticking to coal and oil than switching to gas because emissions of methane, the most potent greenhouse gas, caused by gas extraction render any related carbon savings irrelevant.
A report by the U.S.-based Rocky Mountain Institute has modeled scenarios for the deregulation of electricity markets in China. The report finds the implementation of a spot market would drive increased integration of renewables and provide significant reductions in costs and emissions.
An International Energy Agency report estimates the share of nuclear power in advanced economies could fall by two-thirds by 2040, as aging plants retire. The report claims without support for nuclear, the transition to a low carbon energy system would be far more complex and threaten global emissions targets.
Hydrogen holds promise for harnessing renewables to produce clean fuel for transport, growing a green energy-export industry, and overcoming seasonal intermittency challenges in the grid. On the road to viable hydrogen production every cost-efficiency measure counts.
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