net zero

Ghana will look to deploy around 150GW of solar PV capacity to achieve its net zero emissions target by 2060, a plan that represents US$550 billion in investment opportunities for companies and other nations

Europe’s main barrier to decarbonising its power supply by 2045 is its aging grid infrastructure, 40% of which is over 40 years old, according to a new report by European electricity industry body Eurelectric.

Investment in the global energy transition totaled US$1.1 trillion in 2022 according to analyst firm BloombergNEF, reaching parity with investment in fossil fuels for the first time ever.

Financial institutions have moved too slowly in increasing financing for renewables to help meet global 2050 commitments on net zero, said US environmental organisation Sierra Club.

As of today, less than 10% of the necessary solar and wind power needed for a 2050 global net zero scenario exists, whilst global electricity generation will need to more than triple to 80,000TWh, according to the 2022 BloombergNEF (BNEF) New Energy Outlook.

The Australian Energy Market Operator (AEMO) has released its roadmap to reaching 100% renewable generation in the Australian National Electricity Market (NEM) by 2025.

Installed solar PV capacity globally will grow 20-fold by 2050, when the technology will represent 38% of all electricity production, according to a new DNV report.

Greater standardisation of renewable energy projects will be critical to reaching net zero by 2050, according to a joint report by Princeton University and engineering company Worley.

Australia will need 1.9TW of solar PV in order to reach net zero by 2050, according to the report 'Net Zero Australia'.

Last week, the Australian federal government proposed legislation that will lock-in Australia’s commitment to achieve net zero by 2050 as well as providing greater oversight and accountability over progress on climate change in a sharp departure from the previous administration.