A report says India’s energy investment commitments over the last 14 months largely feature measures for power transmission and distribution that could benefit greenhouse-gas-producing fuels more than renewables.
Even as solar installations continue to grow and renewables make their way further into the energy mix, a look at the bigger energy picture reveals a worrying lack of commitment among utilities to a transition away from fossil fuels. This was the conclusion of researchers at Oxford University, who found that globally, less than half of all utilities have prioritized the development of renewables over the past 20 years. Even among those that have focused on solar and wind, just 15% actually reduced commitments to fossil fuels at the same time.
Energy markets are not exactly free markets, and the replacement of existing generation is not entirely tied to price. There are artificial regulatory constructs and financial structures built into energy markets which can favor certain parties (utilities) and fuels (legacy coal, gas, and nuclear).
The two energy giants have announced plans to pivot away from fossil fuel assets as they expand their renewable footprints.
As nations begin to move towards clean energy, fossil fuel exporting countries will need to rethink and reshape their economies. Taking Russia as an example, an MIT study has examined the likely impact on oil, gas and coal exports and the opportunities the energy transition could offer.
The coal era could be said to be officially over in the United States.
The debt-saddled South African utility has issued an expression of interest to seek proposals on how to refurbish three fossil fuel power plants to be decommissioned in the current decade. Eskom said that all of the proposed solutions should be at the tech-readiness level.
At the ongoing COP25 summit in Madrid, the French energy group announced the closure of nearly 1 GW of coal assets in Chile and Peru between 2019 and 2024. It also secured a PPA for an 18 MW solar park that will come online in southern France in June 2021.
According to a new study by Finland’s LUT University, solar PV consumes between 2% and 15% of the water that coal and nuclear power plants use to produce just 1 MWh of output; for wind, this percentage ranges from 0.1% to 14%. Under the researchers’ best policy scenario, water consumption could be reduced by 75.1% by 2030, compared to 2015 levels.
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