Renewable Energy World.com - Solar Tech

The financial instrument that nearly collapsed the global economy is being re-engineered to create a new market with a lofty goal: to save the planet.

While all countries committed under the Paris Agreement to limit global temperature rise to 1.5˚C-2˚C (2.7-3.6˚ F), major questions remained: How can the world achieve this temperature goal? And what happens if it doesn’t?

Egypt has the potential to meet up to 53 percent of its electricity from renewable sources by 2030, according to a new report by the International Renewable Energy Agency (IRENA). The Egypt Renewable Energy Outlook, released in Cairo last week in the presence of Egyptian government officials and regional decision makers, found that pursuing higher shares of renewable energy could reduce the country’s energy bill by up to $900 million annually in 2030.

The world could install more than a trillion watts of renewable power over the next five years, more than the entire current generation capacity of the European Union.

The report by recently rebranded Wind-Solar Alliance points out that more than 100 U.S. corporate buyers —members of the Renewable Energy Buyers Alliance — have set a goal of purchasing 60 GW of new U.S. renewable energy capacity by 2025. So far, since 2013, the companies have procured just over 13 gigawatts of renewable power.

Britain’s power market will need investment of 6 billion pounds ($7.9 billion) between now and 2030 in flexible generation and storage such as batteries to support the transition toward an economy that emits less carbon, a study showed.

The International Renewable Energy Agency is conducting a survey to gather quantitative and qualitative insights into the current status of women’s participation in the renewable energy sector.

PECO (formerly the Philadelphia Electric Company) announced that the utility will be offering a new incentive for commercial customers who install electric vehicle charging stations for public use. The incentive will be available to commercial customers who successfully apply for funding under the Pennsylvania Department of Environmental Protection’s (DEP) “Driving PA Forward” program.

After wallowing in limbo for the first part of 2018 awaiting re-authorization, the Loan Program Office (LPO) at the Department of Energy is back in business with about $40 billion burning a hole in its proverbial pocket. Mike Reed, Director and Chief Engineer of the Technical and Project Management Division of the LPO and his team are planning to hit POWER-GEN 2018 in Orlando, Florida in December to identify people and projects that might need financing.

An effort to put a tax on carbon dioxide emissions just won an unlikely underwriter: a top producer of oil and gas.

The world must invest $2.4 trillion in clean energy every year through 2035 and cut the use of coal-fired power to almost nothing by 2050 to avoid catastrophic damage from climate change, according to scientists convened by the United Nations.

SINN Power is conducting a study to determine how a renewable energy mix of its wave technology, small wind farms, kinematic hydroelectric plants and solar energy can be used to secure a durable and stable power supply in Guinea.

U.S. President Donald Trump tapped Energy Department staffer Bernard McNamee to join the nation’s top energy regulator, potentially smoothing the path for a brewing bailout of money-losing coal and nuclear plants.

Saudi Arabia has put on hold a $200 billion plan with SoftBank to build the world's biggest solar-power-generation project, setting back another eye-catching transformation project in the kingdom.

Has the environment for electricity generation changed dramatically since the Obama administration’s Clean Power Plan began its slow exit from public and regulatory consciousness several months ago? Not really!

It can be hard to get your head around just how much energy the world uses. Expressed in terms of oil, it was equivalent to almost 14 billion metric tons of the stuff in 2017. That’s like burning through all of Russia’s proved reserves in the space of 12 months, which is, in technical terms, a lot.

The World Bank Group committed $1 billion to finance battery-storage systems in developing and middle-income countries, and expects its participation to attract another $4 billion in backing from investors as well as public and private funds.

Non-hydro renewable energy sources (i.e., biofuels, biomass, geothermal, solar, wind) set new U.S. records for both production and consumption in the first half of 2018, according to a SUN DAY Campaign analysis of data just released by the U.S. Energy Information Administration (EIA).

Statkraft has announced it is planning annual investments of about NOK10 billion (US$1.2 billion) in renewable energy from 2019 to 2025, including “large upgrades of Nordic hydropower.”

The Leader of the Opposition in the UK has vowed to “kickstart a green jobs revolution that will help tackle climate change, provide sustainable energy for the future and create skilled jobs in every nation and region” of Britain.