Aided by falling production costs and policies encouraging a shift to green energy, renewables’ share of the global energy mix could soar from 5% in 2018 to almost 60% by 2050, BP has said in its latest energy outlook.
Australia and Germany have joined forces to fund a feasibility study into the production, storage, transport and use of hydrogen from renewable energy.
Solar parks with a total capacity of 2.3GW will be developed in Greece as part of a €5 billion (US$5.94 billion) roadmap to support the phase-out of coal generation by 2028.
The US should aim for 100GW of annual domestic renewable energy manufacturing capacity by the end of the decade, with a focus on solar, wind and energy storage, the Solar Energy Industries Association (SEIA) has said in a new report.
Solar will dominate the power generation alongside wind in the coming decades as electrification rapidly escalates, but the energy transition is occurring “nowhere near fast enough” to deliver change compliant with the Paris Agreement.
Solar and wind power represent a US$1 trillion investment opportunity in Asia Pacific this decade, equivalent to two-thirds of the region’s power generation sector, as countries move away from fossil fuel generation in favour of greener alternatives.
Queensland’s three state-owned energy corporations will be able to increase their ownership of commercial renewable projects thanks to a new AU$500 million (US$364.45 million) renewable energy fund announced yesterday.
Transporting green hydrogen produced using solar PV in North Africa could be up to 15% cheaper than producing it domestically in Italy, a new study compiled by think tank The European House – Ambrosetti and natural gas giant Snam has found.
Almost a third of France’s €100 billion coronavirus recovery package directed towards greener energy policies, as the country ramps up expenditure on hydrogen production.
Duke Energy Progress’ Integrated Resource Plan, published earlier this week, details how the US utility could turn to as much as 16GW of solar to meet surging any demand and replace retiring coal fleets.
