Panels will be installed at waste sites in five mining towns as part of the latest, €2.4 billion ($2.57 million) round of investment from a fund set up to help coal-dependent European member states with the energy transition.
If the EU is going to drive more than half a trillion dollars worth of hydrogen investment over the coming decades, it will need to get investors onside. The European Investment Bank has surveyed financiers to find out what they want.
With an estimated 500 TWh of renewable electricity needed to produce the 10 million tons per year of clean hydrogen wanted by the European Union by 2030, the recent promise to ramp up European electrolyzer production capacity could give a boost to solar developers grappling with sluggish permitting regimes.
Wood Mackenzie has made its predictions for the Chinese energy market in 2022 and said the country could install almost 120GW of solar and wind power generation capacity.
A report by the IEA laying out two routes for China to reach net zero attempts to persuade policymakers to gun for that goal by 2050, rather than ten years later, and dangles the prospect of continued global dominance as the main reward on offer.
With the nation having operated seven pilot programs since 2011, a national scheme started trading on Friday, although the first day’s average carbon price of around €6.70 per ton of emissions was significantly below the €50/ton levels currently being seen in Europe.
If the three record-busting low solar price tariffs recorded in the Middle East in the past 18 months are to be believed, renewables-powered hydrogen in prime sites in the region could already compete with gas-plus-CCS production, according to IRENA. Has the Gulf discovered the new petrol?
Emissions permits are selling at around €50 per ton, completing a rally from last year’s Covid-driven slump faster than expected by business respondents to the 2021 Refinitiv Carbon Market Survey.
Amid high hopes for the European Commission presidency that is about to start, attendees at a recent event in Berlin tempered optimism by renewing calls for an industrial policy for the bloc.
With the carbon price set by the bloc’s emissions trading scheme on the rise – alongside fossil fuel costs – there’s never been a stronger economic case for renewables. And analysts are predicting the trend is no blip.
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