Today, the Global Wind Energy Council (GWEC) is celebrating annual Global Wind Day and highlighting the socio-economic benefits generated by the wind industry, which now employs 1.1 million people worldwide, according to GWEC's cited statistics from IRENA's "Renewable Energy and Jobs -- Annual Review 2016" report.
The cost of renewables technology is set to keep falling into the next decade, boosting the economic case for clean energy, according to an industry group.
The average cost of electricity from a photovoltaic system is forecast to plunge as much as 59 percent by 2025, according to a report Wednesday by the International Renewable Energy Agency. The technology last year produced energy that was already 58 percent cheaper than it was in 2010, the Abu Dhabi-based industry group said.
An Australian transition to 50% renewables by 2030 would create 28,000 jobs, according to a report from Ernst & Young (EY) and the Climate Council.
The 'Renewable Energy: Future Jobs and Growth' study found that such a target would create nearly 50% more employment than by continuing on the same trajectory of 34% renewables by 2030. Jobs would be created in construction, operation and maintenance as well as in related industries.
Investments in renewable energy made up more than half of all private investments last year, signaling a low-carbon shift is under way, the World Bank said.
A report from the bank finds global private investments held relatively steady from 2014 to total $111.6 billion last year. Investments in renewable energy, however, were higher in 2015 than during the past five years.
"Solar energy investments climbed 72 percent higher than the last five-year average, while renewables attracted nearly two-thirds of investments with private participation," the bank said in a statement.
The way we get electricity is about to change dramatically, as the era of ever-expanding demand for fossil fuels comes to an end—in less than a decade. That's according to a new forecast by Bloomberg New Energy Finance that plots out global power markets for the next 25 years.
Call it peak fossil fuels, a turnabout that's happening not because we're running out of coal and gas, but because we're finding cheaper alternatives. Demand is peaking ahead of schedule because electric cars and affordable battery storage for renewable power are arriving faster than expected, as are changes in China's energy mix.
Renewables will overtake natural gas as the dominant source of electricity generation in the U.S. in 2031, even without subsidies as wind and solar costs plunge, a Bloomberg New Energy Finance analysis showed.
This U.S. shift will be driven by $745 billion in investments in renewables through 2040, outstripping the projected $95 billion that will be spent on building new fossil-fuel plants, said Elena Giannakopoulou, lead economist at BNEF. Solar and wind capacity will become cheaper than gas or coal without any incentives after 2020.
Low prices for coal and gas are likely to persist, but will fail to prevent a fundamental transformation of the world electricity system over coming decades towards renewable sources such as wind and solar, and towards balancing options such as batteries.
The latest long-term forecast from Bloomberg New Energy Finance, entitled New Energy Outlook 2016, charts a significantly lower track for global coal, gas and oil prices than did the equivalent projection a year ago. Crucially, however, it also shows a steeper decline for wind and solar costs.
In the first quarter of 2016, 1,665 megawatts of solar PV were installed in the United States with the solar industry adding more new capacity during this period than coal, natural gas and nuclear combined. According to GTM Research and the Solar Energy Industries Association’s (SEIA) U.S. Solar Market Insight, Q2 2016, the 1,665 megawatts accounted for 64 percent of all new electric generating capacity brought on-line in the first quarter of the year.
This growth builds off the momentum of a record 2015, in which solar exceeded natural-gas capacity additions on an annual basis for the first time ever. The report also says that this year the U.S. solar industry will install an unprecedented 14.5 gigawatts of capacity, a 94 percent jump over the 7.5 gigawatts in capacity installed in 2015. This growth cements solar energy’s role as a mainstay in America’s portfolio of electricity sources.
New solar, wind and hydropower sources were added in 2015 at the fastest rate the world has yet seen, a study says.
Investments in renewables during the year were more than double the amount spent on new coal and gas-fired power plants, the Renewables Global Status Report found.
The number of U.S. jobs in solar energy overtook those in oil and natural gas extraction for the first time last year, helping drive a global surge in employment in the clean-energy business as fossil-fuel companies faltered.
Employment in the U.S. solar business grew 12 times faster than overall job creation, the International Renewable Energy Agency said in a report on Wednesday. About 8.1 million people worldwide had jobs in the clean energy in 2015, up from 7.7 million in 2014, according to the industry group based in Abu Dhabi.
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