International Renewable Energy Agency

The levelized cost of energy generated by large scale solar plants is around $0.068/kWh, compared to $0.378 ten years ago and the price fell 13.1% between 2018 and last year alone, according to figures released by the International Renewable Energy Agency.

The incentive scheme awards a 23-year, $0.12/kWh feed-in tariff to rooftop arrays with a generation capacity of up to 200 kW. Already, 141 municipalities have applied to install 116 MW of rooftop solar capacity and the government has increased the program’s budget from $28.5 million to $143 million.

Solar project owners responded to an appeal to donate a portion of their solar incentive payments to the public health authorities as another multinational body emphasized the importance of coronavirus fiscal stimulus packages having environmentally-friendly conditions attached.

The International Renewable Energy Agency has devised a valuation framework to lay the foundations for successful storage deployment. As the technology matures and moves toward a projected fall in price, revenue stacking will be crucial to assess viability and properly value its benefits.

The Climate Investment Platform launched by three multilateral bodies in September is now open for business and renewables companies in developing nations could qualify for help with clean energy facilities, renewables-related grid improvements and energy efficiency schemes.

The share of renewables in the global energy mix must more than double by 2030 for the world to advance the energy transition and achieve sustainable development goals, according to the International Renewable Energy Agency. Renewable electricity should supply 57% of global power by the end of the decade, up from 26% today.

The Abu Dhabi Fund for Development will support half a dozen megawatt scale projects featuring solar in the Caribbean and Africa. In addition to around 42.5 MW of new solar capacity, the fund will also back the development of energy storage, waste-to-energy and biogas facilities.

Almost all of the energy supplied in the Buddhist kingdom of Bhutan comes from 1.67 GW of hydropower capacity but with a rising population and energy demand, and an expanding economy, the 12 GW of solar the International Renewable Energy Agency estimates the Himalayan nation could host might reduce the risk of climate change-related blackouts.

The latest study published by the International Renewable Energy Agency says the average solar electricity cost of $0.085/kWh produced by projects commissioned last year is set to fall to $0.048 next year, and $0.02-0.08 by 2030.

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.