Although the global solar industry might be cheered by the prospect of a healthy slice of an expected $12 trillion, 30-year windfall, governments are falling far short of steering us clear of catastrophic global heating, according to the analyst’s latest New Energy Outlook report.
Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.
A report by the Institute for Energy Economics and Financial Analysis says there is plenty of investment capital available for Indian renewables, despite pandemic disruption.
A nation famous for high electricity prices has seen power costs fall 15% this year, according to analyst Wood Mackenzie, a figure which will help attract $100 billion of solar and wind investment to 2030. Renewables will have to work even harder, however, to displace fossil fuels in hydrogen production.
The International Energy Agency has acknowledged dramatic falls in energy investment caused by the Covid-19 crisis but said renewables, including PV, offered an attractive proposition to investors as the dust settled, given their enticing economics and short turnaround times.
French start-up Solaire Box has raised €1.5 million to back its business supplying wooden houses complete with PV rooftops. The buildings cost €1,700-2,000/m² and feature PV modules made by French firm Systovi. The company plans add to add features such as energy storage systems and carbon-free heating.
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 investment manager is now Europe’s largest renewable energy fund. The €1.3 billion group already has a 1.8 GW generation portfolio.
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.
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