China’s newly announced ambition to reach carbon neutrality by 2060 and peak carbon emissions before 2030 looks set to spur on investment in solar and battery storage technology, as the country diversifies its power mix away from coal.
Hawaiian Electric has submitted eight contracts representing nearly 300MW of solar energy generation and about 2,000MWh of energy storage to be built on the islands of O'ahu and Maui.
Global governments could divert massive amounts of public funds from cancelled, large-scale power generation projects, such as nuclear, towards solar and other renewables to deliver consumers more value for money.
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.
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.
NTPC, India’s largest power company, is aiming to add more than 5GW of new solar capacity in the next two years as it builds its renewables presence overseas thanks to a collaboration with the International Solar Alliance (ISA).
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.
Enel Green Power has completed the 245MW second phase of the Roadrunner solar plant, which now increased its capacity to 497MW to become the largest PV facility in Texas.
