Renewable Energy In The News

Renewable Energy In The News – As the push for renewable energy continues, news continues to emerge about how different countries are using renewable resources. This page serves as a tracker for global progress in renewable energy.

Investments in renewable energy technologies—solar and wind power—now receive twice as much global funding as fossil fuels, according to a Bloomberg report.

Renewable Energy In The News

The world now adds more renewable energy capacity each year than coal, natural gas, and oil combined.

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According to a United Nations Environment Program report released in March by the Frankfurt School UNEP Center and Bloomberg New Energy Finance, renewable energy is becoming an important energy source globally. It enters the market on a scale related to the energy industry and at a price competitive with fossil fuels. Renewable energy is already a significant energy industry, with more than 100,000 MW of capacity installed last year.

A report published by the United Nations Environment Program in March 2015 revealed many global energy trends since 2014. Some of the key findings were:

The Renewable Energy Target Scheme was introduced in 2001 by the Howard government. It was originally set to ensure that 20% of Australia’s electricity comes from renewable sources by 2020. In 2011, the RET was implemented in two parts – the Small Scale Renewable Energy Scheme (SRES) and the Large Scale Renewable Energy Target (LRET).

The LRET provides a financial incentive to build or expand renewable energy plants such as wind and solar farms or hydroelectric plants. It does this by legitimizing the demand for large-scale production certificates (LGC). One LGC can be made for each MWh of eligible renewable electricity produced by a recognized renewable power plant. LGCs can be sold to entities (mainly electricity retailers) who submit annual submissions to the Clean Energy Regulator to demonstrate compliance with the annual targets of the RET scheme. The income from the sale of LGC by the power plant is added to the income from the sale of generated electricity.

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The LRET includes annual statutory targets that require significant investment in new renewable energy generation capacity in the coming years. Large-scale targets increase to 41,000 GWh of renewable electricity generation by 2020.

SRES provides a financial incentive for households, small businesses and community groups to install small-scale renewable energy systems such as solar water heaters, heat pumps, solar photovoltaic (PV) systems, small-scale wind systems or small-scale hydroelectric systems. . System. It does this by legislating the demand for Small Scale Technical Certificates (STC). STCs for these systems are established at the time of installation and are based on the amount of electricity expected to be generated or moved in the future. For example, SRES allows for STCs equivalent to 15 years of expected system output to be established at the time of installation of eligible solar PV systems.

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RET-obligated entities that have an obligation under the LRET are also legally required under the SRES to purchase STCs and deliver them to the Clean Energy Regulator on a quarterly basis.

Although owners of renewable energy systems can generate and sell STCs, in practice, installers of these systems usually offer a rebate or cash payment on the installation price in exchange for the right to generate STCs. .

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Recently, however, the RET has undergone various updates as the debate circles around specific targets that should apply to large-scale renewable energy. An open letter from various energy and environmental organizations asked for proposals on the future of the RET. This is because many in the renewable energy sector are now realizing that with less than 5 years to go, the industry does not have the time or capacity to produce renewable energy to meet the current target of 41,000 GWh by 2020.

If the RET target is not reset, energy companies face a legal penalty for renewable energy certificates, which could see energy prices rise.

Pak Energy has asked the government to compromise the production of 33,500 GWh by 2020. Currently, this industry produces about 17,000 GWh. New Delhi: There is bad news for the global renewable energy sector. After nearly two decades of strong annual growth, worldwide renewable energy added as much net capacity in 2018 as it did in 2017, an unexpected alignment of growth trends that raised concerns about meeting long-term climate goals. Gives.

2018 was the first time since 2001 that renewable energy capacity growth did not increase compared to the previous year. According to the latest data from the international agency, net new capacity of solar PV, wind, hydro, bio and other renewable energy sources increased by about 180 gigawatts (GW) in 2018. That’s about 60 percent of the net additions needed each year to meet long-term climate goals.

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To meet the goals of the Paris Agreement, added renewable capacity must increase by an average of 300 GW per year between 2018 and 2030. But the latest analysis shows that the world is not doing enough. Last year, related CO2 emissions rose by 1.7 percent to a record high of 33 gigatonnes. Despite the 7% growth in renewable electricity production, greenhouse gas emissions from the electricity sector increased to unprecedented levels.

Dr. Fathi Birol, executive director of the International Energy Agency, said: “The world cannot stop the development of renewable energy and governments must act quickly to correct this situation and enable the rapid flow of new projects.” Thanks to rapidly falling costs, the competitiveness of renewable energy is no longer heavily dependent on financial incentives. They mainly want coherent policies supported by a long-term perspective, but focused on the integration of renewable energies into energy systems in a cost-effective and optimal way.

Since 2015, exponential growth in global solar PV has offset the slower growth of wind and hydropower. But solar PV growth was flat in 2018, adding 97 GW of capacity, falling short of expectations to surpass the iconic 100 GW mark. The main reason for China’s sudden change in solar PV incentives was to address grid integration challenges to reduce costs and achieve more sustainable PV deployment. Additionally, wind cuts in the European Union and India also helped stall renewable energy capacity growth in 2018.

China added 44 GW of solar PV in 2018, compared to 53 GW in 2017. Growth in the US was flat, but solar PV additions increased in the EU, Mexico, the Middle East and Africa, offsetting the slowdown. china

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Despite the slow growth of solar PV, China accounted for nearly 45% of total renewable electricity capacity additions last year. With new transmission lines and higher demand for electricity, China’s wind growth picked up last year, but hydropower expansion continued to slow, maintaining a trend seen since 2013.

Capacity additions in the European Union, the second-largest renewable energy market, slowed slightly. Compared to the previous year, solar PV grew while wind growth slowed. Policy transition challenges and changing incentives for renewables led to slower growth of offshore wind in India and solar PV in Japan.

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In the US, the third-largest market, renewable capacity additions rose slightly in 2018, driven mainly by solar PV flat growth and accelerating onshore wind expansion.

I have read the privacy policy and terms and conditions and agree to receive newsletters and other communications on this email ID. The share of total gross electricity consumption in the European Union (EU) produced from renewable sources is steadily increasing year by year. . In 2018, electricity from renewable sources provided less than a third (32%) of electricity consumption, up slightly from 31% in 2017.

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In 2018, wind and hydropower accounted for about a third of the total electricity generated from renewable sources, with wind energy (36%) and onshore hydropower (33%) being the most important sources. The remaining third was generated from solar energy (12%), solid biofuels (10%) and other renewable sources (9%).

The growth of electricity generated from renewable energy sources represents an increase not only in wind energy, but also in solar energy and solid biofuels (including renewable waste), and the amount of electricity generated by hydropower is about the same as it was a decade ago. . Sooner

Among member states, more than half of the electricity consumed in 2018 came from renewable sources in Austria (73 percent), Sweden (66 percent), Denmark (62 percent), Latvia (53 percent), and Portugal (52 percent). . The high share of renewable energy in electricity production in Austria and Sweden is mainly due to hydropower, which produces more than three-quarters (77%) of the electricity consumed in Austria and two-thirds (69%) in Sweden.

In contrast, less than 10% of electricity came from renewable sources in Hungary and Malta (both 8%) and Cyprus and Luxembourg (both 9%).

Germany’s Renewable Power Share Climbs To 46 Percent In 2020

The share of energy from renewable sources is calculated in the same way as in EU member states using the agreed contribution tool. Stock tool and more details about “Stock Summary Results 2018” can be found in Stocks

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