Energy regulator Ofgem has announced it aims to bring in market-wide half-hourly settlement across the retail electricity market – from October 2025. The long timescale reflects a sluggish attitude at an inconsistent regulator which appears to be planning an unpredictable route to net zero.
Rooftops will have to supply a third of the 524 GW of solar generation capacity needed by 2045 to reach a zero-carbon economy by mid century, according to an academic paper. The researchers also suggested green hydrogen should not play a central role in the nation’s energy transition.
The inauguration of Joe Biden as the 46th President of the United States has brought hope the country will play a central role in the world’s energy transition and combating climate change. However, rather than teaching other countries lessons, the U.S. will need to catch up with the rest of the world, and it needs to do so quickly – the world won’t wait for the U.S.
The Chinese leader has revealed some details of his nation’s commitment to go carbon neutral by 2060. That solar and wind power promise could even prove to be a conservative estimate, according to the nation’s solar industry.
The company shipped a record 5.1 GW of modules in the July-to-September period and expects to hit up to 19 GW for the year, with ‘nearly 100%’ of its products likely to be based on monocrystalline technology in 2020.
Business analysts at McKinsey & Company have worked the numbers and found that investments into new infrastructure and technologies necessary to achieve the net-zero target will likely be offset by savings in other sectors. Europe’s PV sector could grow to about three times its current size over the next decade.
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 City of London Corporation signed a £40m solar power purchase agreement on the same day the prime minister outlined a net-zero strategy which failed to even mention solar.
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