The Abu Dhabi Fund for Development and the International Renewable Energy Agency announced last week $25 million in concessional loans to support solar development in Mauritius and Rwanda.
The latest “Energy storage forecast 2016–2030” from Bloomberg New Energy Finance predicts explosive growth in energy storage over the next 12 years. BNEF says storage will grow in much the same way that solar power grew between 2010 and 2015. Solar power expanded 700% during that time. It sees a six fold increase in energy storage to 305 gigawatt-hours between now and the year 2030. Making that happen will require an investment in excess of $100 billion.
A new report from the International Renewable Energy Agency has concluded that there is significant untapped potential for countries to “significantly” increase their renewable energy ambition within Nationally Determined Contributions when they are revised in 2020, helping to accelerate deployment in line with the goals and needs of the Paris Climate Agreement.
IRENA projects that the cost of batteries for stationary energy storage systems could drop by as much as two-thirds by 2030, and if the global share of renewables doubles by 2030, energy storage capacity could triple.
IRENA recently came out with a new energy study showing that a one-two punch of renewable energy plus energy efficiency gets the job done more effectively than renewables alone.
As of November 2016, the American solar industry employed 260,077 workers. This is an increase of 24.5% from 2015, with a growth rate that is 17 times faster than the United States economy as a whole.
The International Renewable Energy Agency and the State Grid Corporation of China announced their intention last week to increase their cooperation with the intent to advance China’s energy transition.
Originally published on Energy Post. By Allan Hoffman For policymakers who are interested in job creation, investing in renewable energy is considerably more effective than investing in fossil fuels, writes Allan Hoffman, author of the blog Thoughts of a Lapsed Physicist and formerly with the U.S. Department of Energy. Solar … [continued]
The renewable energy industry continues to grow, and new figures from the International Renewable Energy Agency show that it now employs nearly 10 million people worldwide.
Early action in transitioning to a low-carbon energy sector is critical not only for keeping global warming to under 2°C, but also for minimizing the risks of additional stranded fossil fuel assets, which could amount to as much as an additional $10 trillion in assets by 2050.
