IEA

Portugal set a new coal-free record because of the pandemic as Belgium and Israel moved to help the renewables industry. But there was grim news in Mexico and Turkey, and Bangladeshi clean energy firms have appealed for more assistance.

A study by the International Energy Agency into the chilling effect of the Covid-19 pandemic on energy demand states renewables will be ‘the only energy source likely to experience demand growth for the rest of 2020’. The slower the economic recovery, the more the fossil fuel industry will suffer.

While the world’s climate negotiators dither, the post Covid-19 world could see their efforts overtaken – but only if policymakers are bold enough to take the opportunity to offer truly green fiscal stimulus packages to get us through the crisis. Felicia Jackson, from the center for sustainable finance of the School of Oriental and African Studies at the University of London, gives her thoughts here.

The EIB and the Hydrogen Council aim to jointly develop new ways to generate funding for hydrogen projects under the European Commission’s InnovFin Advisory program. The two parties, however, have not disclosed the financial terms of their planned collaboration.

Just over three terawatts will be installed by 2040. Coal generation will remain largely flat, however. Gas generation capacity will rise, making CO2-emissions reduction unattainable under current projection scenarios.

Although the International Energy Agency’s latest renewables report forecasts impressive solar growth there is still a nagging feeling it has produced conservative estimates and the emphasis on sharing costs with grid operators is predictable.

Two German companies will develop one of the largest off-grid PV and storage projects to date. The low cost of the technology and expense of conventional generators is likely to see the hybrid plant recover its costs in three to seven years.

The International Renewable Energy Association says the integration of hydrogen into the energy transition will not happen overnight and electrolysis costs will not be halved until the 2040s. That hydrogen and related products could revolutionize the world energy landscape, however, is not in doubt.

The global expansion of PV, wind power and other clean energies will see double-digit growth this year as solar continues to lead the pack.

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.