A new solar and wind group in Washington is writing new wholesale electric market rules for federal regulators in an effort to “level the playing field” by increasing the amount of electricity that comes from renewables. Over the years, several groups, including the American Physical Society, the Energy Department’s National Renewable Energy Laboratory, and IRENA have examined ways to increase renewable integration. They’ve even issued white papers.
Egypt would need to more than double investment in clean energy to push the amount of electricity generated by renewables to over 50 percent, according to the International Renewable Energy Agency.
Climate scientists have understood for decades that unchecked, man-made global warming will wreak havoc on human civilization. “The energy transition we need now for climate purposes needs to move much faster,” says Adnan Amin, who heads the International Renewable Energy Agency (IRENA). “We need policy mechanisms.”
As the deployment of renewable energy continues to expand around the world, driven by various inputs, such as capital allocation and investment, falling capital costs, competitive LCOE and various policy mechanisms, we are now moving towards a new era for renewable energy. The International Renewable Energy Agency (IRENA) reports that by 2016 about 67 countries had adopted auction programmes.
The global gas industry, boosted by a host of new projects to feed booming demand, is in better shape than at any point in the last five years but analysts warn it is getting ahead of itself, pointing to the rise of renewable energy as a threat. Following a sharp price falls in panel costs and improvement in efficiency, global solar power capacity has soared from just 15 gigawatt (GW) a decade ago to around 400 GW now, data from the International Renewable Energy Agency (Irena) showed.
Solar panels are becoming less and less recyclable as the need for recycling them looms more and more. Manufacturers have been able to reduce silver content by using inkjet and screen printing technologies to replace silver with a combination of copper, nickel and aluminum, according to IRENA.
Energy storage is set to see rapid growth as the plummeting cost of batteries has made them increasingly competitive (...). The International Renewable Energy Agency predicts that the grid-connected storage market could hit 175GW by 2030.
China installed nearly 1.2 GW of near-shore wind power capacity last year. It has a national goal of 5 GW of offshore wind power by 2020. IRENA estimates that 60 percent of all renewable energy jobs are in the Asian economies.
IRENA has authored a chapter of the recently released Global Innovation Index 2018. This overarching theme for the 2018 report is the role of energy innovation and IRENA's chapter makes four policy recommendations to scale up renewable energy deployment.
From General Electric Co. to Siemens AG to MHI Vestas Offshore Wind, industrial giants are racing to build skyscraper-size turbines that can generate 10 megawatts apiece or more, a symbolic threshold for the wind industry.
As the cost of sustainable energy sources has declined, the deployment of these sources of energy has grown rapidly. Once on the fringes of the energy industry, solar PV and wind are now mainstream technologies. IRENA predicts another 90 GW of solar power to come online in the next few years, which could drive down solar costs by an additional 60%.
A report by the IEA offers encouraging news, showing renewables recorded the highest growth rate of any energy source in 2017, meeting a quarter of global energy demand growth. Meanwhile, IRENA has found the private sector provided over 90 percent of investment in renewable energy in 2016. And the price of solar and wind power continues tio drop – 80 percent for wind, and 30 to 40 percent for solar since 2009.
French water and waste group Veolia has opened what it says is Europe’s first recycling plant for solar panels and aims to build more as thousands of tonnes of ageing solar panels are set to reach the end of their life in coming years. In a 2016 study on solar panel recycling, IRENA said that in the long term, building dedicated PV panel recycling plants makes sense. It estimates that recovered materials could be worth $450 million by 2030 and exceed $15 billion by 2050.
IRENA estimates that Africa’s potential for renewables on the continent is around 310 GW by 2030, however, only 70 GW will be reached based on current nationally determined contributions. According to an 2017 IRENA report, 45 African countries have quantifiable renewable energy targets in their NDCs. IRENA Director Policy and Finance expert, Henning Wuester, said that there was less than USD10 billion investment in renewables in Africa and that it needed to triple to fully exploit the continent’s potential.
Negotiators from the European Commission, the Parliament and the Council reached a late on June 14 for an ambitious political agreement on increasing renewable energy use in Europe. IRENA Director General Adnan Z. Amin has also welcomed the EU’s decision to increase its renewable energy target. “The EU’s decision to increase its renewable energy target from 27% to 32% by 2030 is a move that consolidates Europe’s position at the forefront of the global energy transformation,” he said.
Europe’s power sector is under pressure as never before from changes in government policy to technological advances and the explosive growth and falling costs of renewables all of which are undermining the economics of traditional power plants. A recent forecast by IRENA predicted that on current trends, by 2020, “all mainstream renewable power generation technologies can be expected to provide average costs at the lower end of the fossil-fuel cost range".
Global spending on renewable energy is outpacing investment in electricity from coal, natural gas and nuclear power plants, driven by falling costs of producing wind and solar power. The price of renewable energy sources is now competitive with fossil fuel production in many places. By 2017, the global average cost of electricity from wind power on land was $ 60 per megawatt hour and $ 100 for sun, towards the end of $ 50 to $ 170 for new fossil fuel plants in developed countries, according to IRENA.
IRENA is trying help a local joint venture secure funding for a 1.3-megawatt solar project in Balayan City, Batangas. The global RE energy agency is doing this through its virtual marketplace. Called Sustainable Energy Marketplace, the platform seeks to bolster both public and private investments in RE and energy efficiency in developing and emerging nations to meet global climate and sustainable development goals
Investors are increasingly excited about the prospects for much faster growth in the solar power industry in Southeast Asia. They say that the region is in a perfect position to benefit from rapidly declining prices in solar panels. By the end of last year, Southeast Asia had installed solar capacity of over 3 gigawatts, 1 percent of global capacity, according to data from IRENA.
Sometimes the news about our environment can feel a little monotonous. We read the same old headlines about how important the environment is. On World Environment Day 2018, it’s time to inject some hope and inspiration into the mix. IRENA estimates that to limit global warming to 2°C, renewable energy will need to provide 65% of the world’s energy in 2050, up from around 15% today. Please enter content for Here are 6 big ideas to help the environment