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.
The US Energy Storage Association (ESA) has adopted a target of 100GW of energy storage capacity in the country by 2030, a capacity it said would help facilitate greater penetration of renewables.
Oil and gas majors moving aggressively into renewables must build and not buy their way in, or their contribution to global carbon reduction efforts will be significantly limited, RWE’s CFO Markus Krebber has said.
The recovery of clean energy jobs in the US slowed a trickle last month as trade associations have warned it could take years for jobs to return in full without support from Congress.
Mexico’s president has pledged to change power dispatch rules, shunting privately owned renewables down the pecking order, in the latest twist of an ongoing spat between his regime and the clean energy sector.
Portugal has chosen a total of 37 prospective green hydrogen projects, representing a total investment of around €9 billion (US$10.5 billion) to progress to the next stage of its selection process.
Iberdrola has hit the accelerator on its renewables investments in H1 in spite of the pandemic, as the multinational utility looks to move forward with a project pipeline that now exceeds 58GW.
Production of green hydrogen using renewable power for electrolysis could be cost competitive with incumbent methods by 2030, analysis by research firm IHS Markit has concluded.
Investment in new solar capacity fell in the first half of 2020 by 12% year-on-year to US$54.7 billion as the COVID-19 pandemic hit both project financing and scheduled auctions.
