News Article | April 17, 2017
Record amounts of new renewables were added to energy systems worldwide last year at a lower cost as clean technology prices fell, a report shows. Wind, solar, biomass, geothermal, small-scale hydropower, marine energy and waste-to-energy schemes added 138.5 gigawatts (GW) to global power capacity, equivalent to the total installed capacity of Canada. The figure, which excludes large hydroelectric dams, is up 8 per cent from 127.5GW in 2015. Despite the increase, global investment in new renewables was down almost a quarter to $241.6 billion as the costs of renewables such as solar and wind fell. The spending per unit of power capacity from solar and wind dropped by more than a tenth in 2016, the report by UN Environment, the Frankfurt School-UNEP Collaborating Centre and Bloomberg New Energy Finance found. Investment in new renewables was roughly double the amount going into fossil fuel plants and the clean technologies accounted for 55 per cent of capacity added worldwide in 2016. Electricity coming from renewables, excluding large hydroelectric dams, rose from 10.3 per cent of total generation in 2015 to 11.3 per cent in 2016, preventing an estimated 1.7 billion tonnes of carbon dioxide emissions. The Global Trends in Renewable Energy Investment 2017 report comes after analysis by the International Energy Agency (IEA) showing carbon emissions from the energy sector flatlined over the last three years despite a growing global economy. The IEA said this was due to growth in renewables as well as a switch from coal to natural gas and better energy-efficiency. The Global Trends report shows an extra 75GW of solar power was added in 2016, a new high, while 54GW of wind was installed, down from the previous year’s high of 63GW. While overall investment in renewables dropped, it rose in Europe by 3 per cent to $59.8 billion. Offshore wind dominated European investments, with “mega-arrays” such as the 1.2GW Hornsea project off the Yorkshire coast in the North Sea, which is set to install 174 giant wind turbines capable of powering a million homes. “Ever-cheaper clean tech provides a real opportunity for investors to get more for less,” says Erik Solheim, executive director of UN Environment. “This is exactly the kind of situation, where the needs of profit and people meet, that will drive the shift to a better world for all.” “The question always used to be ‘will renewables ever be grid competitive?” says Michael Liebreich, chairman of the advisory board of Bloomberg New Energy Finance. “After the dramatic cost reductions of the past few years, unsubsidised wind and solar can provide the lowest cost new electrical power in an increasing number of countries, even in the developing world – sometimes by a factor of two,” says Liebreich. “It’s a whole new world,” he says. “Instead of having to subsidise renewables, now authorities may have to subsidise natural gas plants to help them provide grid reliability.”
News Article | May 23, 2017
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 and wind are powerful engines of job creation and economic growth. Job creation is always a safe issue for politicians to address and it played a crucial role in our recent presidential election. Donald Trump achieved his unexpected upset victory over Hillary Clinton by appealing to disaffected workers in normally Democrat-leaning states such as Pennsylvania and Wisconsin. A primary focus of the Trump campaign was jobs in the manufacturing and coal-mining industries, where many workers had been laid off in recent years. Some people have blamed these job losses on Obama Administration policies, including support for solar and wind energy. What are the facts? The fact that renewable energy, mostly in the form of solar and wind energy, is entering the energy mainstream, both in the U.S. and in other countries, is a reality. This is often attributed to their reduced costs and role in reducing carbon emissions. What is often overlooked or given minimal attention is that investment in the manufacture and deployment of these clean energy technologies creates many ‘green jobs’. What data supports this statement? Data for the U.S. was available from the Green Jobs Initiative of the Bureau of Labor Statistics in annual reports for fiscal years 2009, 2010, and 2011. Unfortunately, budget sequestration brought an end to this program in 2013. Today other organizations are filling the gap, e.g. The Solar Foundation’s annual ‘National Solar Jobs Census’, monthly reports from the U.S. Energy Information Administration (EIA), and occasional reports from other non-governmental organizations. On a global basis the International Energy Agency (IEA) has become a source of jobs information, as has the International Renewable Energy Agency (IRENA) through its Renewable Energy and Jobs Annual Reviews. Two highlights of IRENA’s 2016 Review were that (a) global direct and indirect employment in the renewable energy industry had reached 8.1 million in 2015, a 5% increase over 2014, and (b) solar photovoltaics (PV) was the largest renewable energy employer at 2.8 million jobs, an 11% increase over 2014. Solar Foundation data indicated that in 2016 the U.S. solar industry (8,600 companies) employed 260,00 workers. This was an increase of more than 20% for the fourth straight year and more than 178% since 2010. This outpaced the overall 2016 national jobs growth rate of 1.5%. California led U.S. states in solar employment with 100,050 jobs. How do these numbers compare with numbers in the fossil fuel industries? In 2015 workers employed directly in oil and natural gas extraction numbered about 187,000, a decrease of 14,000 from 2014. Indirect related jobs number about 2 million, of which about 40% are at gas stations. Another fossil fuel industry that received considerable attention during the 2016 election was coal mining. It accounted for 68,000 jobs in 2015, continuing its decrease of recent years. Looking ahead, what can we expect? As oil and natural gas prices increase from their recent lows, and fracking is therefore reinvigorated, the number of related extraction jobs should stay approximately level. This should continue as long as no cost penalty is imposed on carbon emissions, and Trump Administration support for maintaining and expanding fossil fuel extraction is strong. Coal is a different story. Long the basis of more than half of U.S. electricity generation, coal’s share of that market is now down to about a third and heading lower. When combusted it is the dirtiest of the fossil fuels, and automation of the coal digging process and competition from fracked and low cost natural gas has signaled the beginning of the end of the coal era and related jobs in the U.S. In addition, utilities are not adding new coal powered systems because their capital and operating costs are higher than for new natural gas, wind and solar power plants (data provided by EIA). What are the prospects for renewable energy and related jobs in the U.S. in the future? As reported by the American Wind Energy Association (AWEA), at the start of 2016 jobs in the U.S. wind industry totaled 88,000, an increase of 20% over 2014. This was made possible by the installation of nearly 9,000 megawatts of new electrical generating capacity across 20 states, an increase of 77% over 2014. Wind accounted for 41% of all newly installed U.S. electrical capacity in 2015, ahead of solar (28.5%) and natural gas (28.1%). This growth will continue both onshore, where essentially all U.S. wind turbines have been installed to date, and offshore as this large resource begins to be tapped. Two recent reports have documented the equally impressive prospects for solar energy’s growth. IRENA’s ‘Letting In the Light: How Solar Photovoltaics Will Revolutionize the Electricity System’ states that “The age of solar energy has arrived. It came faster than anyone predicted and is ushering in a shift in energy ownership.” Bloomberg New Energy Finance reported in a June 2016 report that “..solar and wind technologies will be the cheapest way to produce electricity in most parts of the world in the 2030s..” Already the largest source of renewable energy jobs in the U.S., solar energy will be a major factor in shaping our future energy system and creating new jobs. A recently published book Sun Towards High Noon: Solar Power Transforming Our Energy Future (Pan Stanford Publishing; Peter Varadi editor and contributor) discusses the jobs issue in detail along with other issues, including solar financing, markets, and quality control. What conclusions can be drawn? If a primary national goal is to create jobs in the energy sector, investing in renewable energy is considerably more effective than investing in fossil fuels. Solar and wind are no longer niche businesses, their widespread use addresses global warming and climate change, and their manufacture and deployment are powerful engines of economic growth and job creation. The U.S. Congress must recognize this and put policies in place that accelerate their growth. Other countries recognize this potential and are moving rapidly onto this path, some even faster than the U.S. We must not be left behind as this energy transition unfolds in the next several decades, but we must also not forget the people who will be displaced from their jobs in traditional energy industries. Allan Hoffman is author of the blog Thoughts of a Lapsed Physicist. He is a former Senior Analyst in the Office of Energy Efficiency and Renewable Energy at the U.S. Department of Energy (DOE) and physicist by training. Hoffman is a contributor to a new comprehensive handbook, Sun Towards High Noon, edited by solar pioneer Peter F. Varadi, which details the meteoric expansion of the solar (PV) industry and describes how solar power will change our energy future.
News Article | December 6, 2016
Tech giants are jockeying to be the first to hit a 100% renewable energy goal. Google, which has invested in solar and wind energy for a decade, intends to get there by 2017. Google is the largest corporate buyer of renewable energy, and plans to buy enough wind and solar energy to offset all the electricity used by its 13 data centers and offices in 150 cities worldwide, the company said Tuesday. Apple seems close to reaching its own 100% goal as well. The company said it achieved 93% in 2015. An Apple spokeswoman said the company has yet to set a year for when they would likely cross the finish line. For Google, hitting the 100% target means for every unit of electricity it consumes – typically from coal or natural gas power plants – it would buy a unit of wind or solar electricity. The company wouldn’t say how much electricity it will need to have purchased by the end of next year to reach its 100% goal, but did say that the amount would exceed the 5.7 terawatt-hours solar and wind energy that it bought in 2015. “We want to run our business in an environmentally responsible way, and energy consumption is the largest portion,” said Neha Palmer, head of energy strategy and development at Google’s Global Infrastructure Group. Google is taking a big leap to that 100% goal, having achieved just 37% in 2014. The company has invested in renewable energy ever since it kicked off the construction of a 1.6-megawatt solar energy system in 2006. Since 2010, it’s signed 2.6 gigawatts worth of solar and wind contracts. The tech giant isn’t alone in setting the 100% target. A global campaign to promote 100% renewable energy use in the business world includes Ikea, Facebook, Starbucks and Johnson & Johnson. Businesses, like homeowners, have historically relied on their local utilities for power. In 2015, about 67% of the electricity generated in the US came from fossil fuels. Businesses would have to build and run their own solar or wind farms if they want to hit their 100% more quickly, but that will require hefty investments and expertise they don’t have. As a result, when companies set strong renewable energy goals, they often reach them by buying enough solar and wind electricity or renewable energy credits to offset their use of electricity from coal or natural gas power plants. Some companies, such as Google and Microsoft, have invested in solar and wind power plants to help increase the amount of renewable energy the local electric grids. Or, using their clout as large energy customers, they work on convincing their local utilities to invest in renewable energy. Once extremely expensive, solar and wind have seen their prices falling significantly in the past 10 years. Government tax breaks have also helped to make solar and wind more affordable to both businesses and homeowners. The price for building large solar farms, that have the scale to provide utilities, dropped 12% in 2015, according to Lawrence Berkeley National Laboratory, part of the US Department of Energy . Market analysts expect the prices to continue to fall even with the abundance of cheap coal and natural gas. The pressure on countries around the world to meet their targets from the Paris climate agreement, which went into effect last month, will make renewable energy attractive, said Bloomberg New Energy Finance. The research firm has projected that solar and wind will become the cheapest sources of electricity for “most of the world” after 2030. “Renewable energy has become incredibly cost effective,” said Dan Kammen, a professor of energy at the University of California-Berkeley. “There is no company on the planet that can’t make a 100% energy target a viable, cost-effective strategy.” Yet most businesses have yet to set a renewable energy target. That’s because cost isn’t the only issue. Big companies tend to have an advantage over smaller firms because they have the resources to understand the energy markets and negotiating contracts to buy renewable energy, said Colin Smith, solar analyst for GTM Research. “You’re talking about very complex deals and arrangements with unique risk profiles that most companies aren’t fully well equipped to understand,” he said. Google currently pays for wind and solar power from 20 renewable energy projects in the US and abroad, in places such as Sweden and Chile. However, it doesn’t limit itself to buying solar and wind only in regions where it operates, and sees itself as a champion of reducing the emissions produced by the electric industry, which is the largest source of greenhouse gas emissions in the US. “Wind and solar developers couldn’t get financing without us guaranteeing to pay for the power in the long term,” said Palmer. Setting the 100% renewable energy goal is not the only way to reduce a company’s carbon footprint, said Dan Reicher, executive director of the Steyer-Taylor Center for Energy Policy and Finance at Stanford University. Businesses should first look at cutting down on their energy use and becoming more energy efficient, said Reicher. That will then reduce the amount of renewable energy they need to procure. “ Energy efficiency tends not to sound as sexy, just as putting solar panels on your roof is more interesting than putting an efficient furnace in your basement,” he said. “But from an economic and environmental perspective, you want to start with energy efficiency.” Reicher also noted that electricity isn’t always the biggest source of energy for a business. FedEx, for example, uses far more energy in transportation, he said. “Often a big chunk of a company’s business goes beyond electricity,” said Reicher. “What are they doing on the industrial side, on the transportation side, for heating and cooling?” The election of Donald Trump as president has worried renewable energy supporters about the progress made to make solar and wind competitive against coal and natural gas. With the new administration under Donald Trump, renewable energy supporters worry that the government will stop supporting renewable energy. Trump has vowed to revive the coal industry, which has seen half a dozen bankruptcies in recent years as it struggles to compete with the cheaper natural gas. But whether the new administration will create anti-renewable energy policies remains to be seen, Reicher said. Google doesn’t anticipate changes to its renewable energy initiatives in the near future. “The results of any one election won’t change our plans,” said Palmer.
News Article | March 29, 2016
Global renewable energy investments in 2015 smashed fossil fuel investments with a world record $286 billion invested, raising the 12-year cumulative total to $2.3 trillion. These are the highlights from a new report published by the UN Environment Programme, Global Trends in Renewable Energy Investment 2016, the report’s 10th edition. Most importantly, coal and gas-fired electricity generation drew in less than half the total investment made into the renewable energy industry. Specifically, global investment in new renewable energy capacity was $266 billion was more than double coal and gas’ estimated $130 billion. “ Renewable s are becoming ever more central to our low-carbon lifestyles, and the record-setting investments in 2015 are further proof of this trend,” said Achim Steiner, UNEP Executive Director. All investment in renewables — which includes new renewable energy capacity as well as early-stage technology, research & development — totaled $286 billion in 2015, around 3% higher than the previous record set back in 2011. “Global investment in renewables capacity hit a new record in 2015, far outpacing that in fossil fuel generating capacity despite falling oil, gas, and coal prices,” said Michael Liebreich, Chairman of the Advisory Board at BNEF. “It has broadened out to a wider and wider array of developing countries, helped by sharply reduced costs and by the benefits of local power production over reliance on imported commodities.” 2015 also saw a significant milestone in the developing world, where investments in renewable energy topped investments in developed nations for the first time ever. Specifically, developing and emerging economy nations invested a total of $156 billion into renewable energy in 2015, up 19% compared to 2014, while developed nations saw their renewable energy investments drop 8% on 2014 levels, down to $130 billion. China was, unsurprisingly, largely responsible for this growth, investing $102.9 billion, which was up 17% on its own investment numbers, and accounting for 36% of the global investment total. However, other countries are beginning to make their mark as well: India invested $10.2 billion, up 22% on its own figures; South Africa invested $4.5 billion, up 329%; Mexico invested $4 billion, up 105%; and Chile invested $3.4 billion, up 151%. “Importantly, for the first time in 2015, renewables in investments were higher in developing countries than developed,” continued Steiner. “Access to clean, modern energy is of enormous value for all societies, but especially so in regions where reliable energy can offer profound improvements in quality of life, economic development and environmental sustainability. Continued and increased investment in renewables is not only good for people and planet, but will be a key element in achieving international targets on climate change and sustainable development.” The report was launched last Thursday by the Frankfurt School-UNEP Collaborating Centre for Climate & Sustainable Energy Finance and Bloomberg New Energy Finance (BNEF). More figures, as well as the report, can be accessed through the UN Environment Programme. Get CleanTechnica’s 1st (completely free) electric car report → “Electric Cars: What Early Adopters & First Followers Want.” Come attend CleanTechnica’s 1st “Cleantech Revolution Tour” event → in Berlin, Germany, April 9–10. Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.
News Article | December 6, 2016
Google will power 100 percent of its sprawling data centers and offices with renewable energy starting next year. The tech giant on Tuesday said it had bought enough wind and solar power to account for all the electricity it uses globally each year. That means the servers handling your Google Maps requests, storing your backlog of unread Gmails and holding the work of aspiring YouTube stars will use only emissions-free energy. Last year, just 44 percent of Google's power supplies came from renewables, the company said. SEE ALSO: Apple aims to clean up its supply chain with new renewable energy goals "It's been a long road here, but we're excited that we finally reached it," Neha Palmer, Google's head of energy strategy for its global infrastructure division, told Mashable. Google's announcement arrives at an uncertain time in the clean energy sector. President-elect Donald Trump — the only climate-change denying global leader — has vowed to scrap rules for curbing greenhouse gas emissions and instead accelerate fossil fuel production. He's expressed no small amount of disdain for wind farms. If the future Trump administration lags on environmental progress, companies will likely play an even greater role in growing the U.S. clean energy market, said Nathan Serota, a senior analyst at Bloomberg New Energy Finance in New York. "A Trump presidency could actually wind up causing corporations to pick up the slack, and to fill the leadership vacuum on renewable energy that's being left in the federal government," he said. Businesses will also need to become more vocal advocates of policies that make it easier or cheaper to build wind, solar and other cleaner projects, said Gary Cook, an IT sector analyst for the environmental group Greenpeace. "Corporate leadership has been critical in driving a lot of the renewable energy investment," Cook said. "It could be even more important in the coming years and months with much less leadership, and more hostility, from the federal government." Google, for its part, said it has no plans to change its clean-energy approach under Trump. "We will continue to run our business in an environmentally responsible way," Palmer said. "We'll hold to our values, which includes obviously continuing to procure renewable energy. " Tech companies in particular are buying more renewable power for two key reasons. First, it benefits their bottom lines. The price of solar energy in the U.S. has plunged 80 percent since 2012, while the price of wind power has tumbled 60 percent, thanks to improving technology and design, lower financing costs and less regulatory red tape. Solar and wind power is increasingly competitive with conventional sources like natural gas or coal. When companies buy power from a wind or solar project, they often sign long-term agreements with the projects' developers. The contracts set a fixed price for the electricity over 10 or 20 years, which allows companies to manage their future expenses and ideally save money in the end. Google signed the country's first corporate renewables deal in 2010, with a contract to buy 114 megawatts of electricity from a wind farm in Iowa. Since then, Google has signed agreements for 17 more wind farms and two solar projects in six U.S. states and six countries. Together, the 20 projects can produce 2,600 megawatts of clean electricity — enough to power all of Google's direct operations worldwide. The power doesn't account for indirect electricity demand from its third-party manufacturing partners. The second reason for the clean energy push? Corporate sustainability goals. As the digital economy expands, digital companies are building more energy-guzzling data centers around the world. Businesses are now facing increasing pressure from their customers and environmental groups to meet that rising energy demand with renewables, rather than higher-emissions coal and natural gas. Tech companies alone now account for about two-thirds of all corporate renewables deals signed since 2010, or about 4,700 out of 7,000 megawatts under contract, according to a tracker compiled by the Rocky Mountain Institute, an environmental think tank. "The IT sector has been leading the charge among corporations to purchase renewable energy to power their rapid growth," said Cook from Greenpeace. Cook is the lead author of the group's annual "Click Clean" report, which ranks major internet companies on their environmental performance. In the 2015 report, Google was listed as a "green internet innovator" while Amazon Web Services was considered "middle of the road" and Oracle was considered stuck in the "dirty energy past." "Given the growth of the sector, there's still a lot to do," Cook said. "Some companies are still lagging, in terms of really matching up their growth with an equivalent amount of renewable energy supply." Social media giant Facebook scored well in the last Greenpeace report after making "radical improvements in transparency" and encouraging Iowa utilities to invest billions of dollars in new wind farms by building a Facebook data center in the state. Two other Facebook data centers — in Clonee, Ireland and Los Lunas, New Mexico — will be powered entirely by clean energy when completed, a spokesperson noted in an email. Apple, one of Google's top competitors, has also made sizable progress on clean energy. The California tech company in September said it would partner with its far-flung manufacturers to reduce carbon emissions from factories — a major component of Apple's carbon footprint. Apple already powers nearly all its data centers, offices and retail stores worldwide with renewables. In August, Apple won U.S. federal approval to start selling clean electricity, just as Google did in 2010. Microsoft this fall announced a new goal to get 50 percent of its data centers' power from clean energy sources by 2018, and 60 percent renewables by the early 2020s. At Salesforce, the goal is 100 percent renewables for the firm's global operations. To that end, the cloud computing company signed two major agreements last year with wind farms in Texas and West Virginia. "Looking forward, corporations have the opportunity and the responsibility to play a major role in transforming our energy systems so they are reliable, safe and clean," Suzanne DiBianca, Salesforce's chief philanthropy officer, said in an email. Google's own efforts to buy wind and solar power could make it easier for more companies, tech or otherwise, to follow suit, Palmer said. For instance, Google recently worked with Duke Energy in North Carolina to build a 61-megawatt solar project that will power Google's new data center in the state. As part of the deal, other companies in the area can purchase power from the project, with no added cost for ratepayers. "We're hoping that the increased demand will actually push the market to become more innovative, and we'll see new technologies, we'll see new ways to integrate renewable energy as a result," Palmer said.
News Article | January 14, 2016
Investment in large-scale renewable energy in Australia remains stagnant almost two years after the Abbott government began a review of the sector, according to an annual survey by Bloomberg New Energy Finance. Investors spent just $15 million since February 2014 on big wind, solar or other clean energy projects that were not otherwise supported by government programs such as the Australian Renewable Energy Agency.
News Article | February 15, 2017
Corporate renewable energy purchase agreements are a big deal in the United States and Europe, but Australia is lagging well behind the rest of the world. However, new analysis from Sydney-based energy market advisor Energetics suggests 2017 could be a good year for large energy users to begin turning to renewable energy PPAs to mitigate rising electricity prices. Energetics, an Australian energy market advisor intent on helping businesses reduce greenhouse gas emissions, published a new analysis by Principal Consultant Anita Stadler this week, which advocated for large energy users to “Consider a corporate renewable power purchase agreement” — an agreement between generator and off-taker which facilitates the purchase of electricity from a renewable energy project. The issue is an increasingly important one in Australia, given the current politicization of the energy landscape in the country. As Stadler points out, a number of events over the past few years have raised the profile of renewable energy sources — not least of all the controversy over the South Australian blackout, which many politicians and media outlets incorrectly attributed solely to the fact that the state has a lot of intermittent wind energy. Further, the issue of which source of electricity generation should be the future of Australia’s energy mix has recently been raised to an even higher fever pitch, with the Australian Government, and its Prime Minister Malcolm Turnbull specifically, advocating for the development of ultra-critical coal-fired power stations. However, as we have already seen thanks to a report from Bloomberg New Energy Finance earlier this month, any new coal generating capacity is well and truly the most expensive option. Specifically, Bloomberg reports that the Levelized Cost of Energy (LCoE) of new ultra-supercritical coal-fired power in Australia sits at AUD$134-$203/MWh. This ranks well above the current LCoE for new build wind (AUD$61-$118/MWh), solar (AUD$78-$140/MWh), and combined-cycle gas (AUD$74-$90/MWh). Price worries aside, Australian Energy Council’s Chief Executive, Matthew Warren laid it out explicitly: “While lower emissions coal-fired power stations could be considered theoretically, in practice there is no current investment appetite to develop new coal-fired power in Australia.” “Why the strong support by industry peak bodies for renewables?” Anita Stadler asked, pointing to the massive price decreases renewable energy technologies have benefited from over the past few years. Further, while prices for renewable energy development are already cheaper, they are only likely to continue to fall: “consider that in the roughly five years or so it would take to bring an expensive new ultra-supercritical coal-fired power station on line in the Australian market, the cost of renewables will continue to come down.” Stadler also points to the integration of energy storage as increasing the utility of renewables. Energy storage has found an unlikely proving ground in Australian energy markets, and some estimates suggest that the cost of many energy storage technologies could fall by as much as 40% over the next few years. As such, as seen in the graphic below, Energetics now believes that a tipping point has been reached for large energy consumers to begin considering renewable energy Power Purchase Agreements (PPAs). “The rising costs of grid-supplied electricity, coupled with the falling costs of renewable energy production have resulted in a narrowing of the price difference between renewable and traditional energy sources,” Stadler explains. “For large energy users contracting with a renewable energy generator and / or retailer to meet all or part of your energy supply needs is now a commercially viable proposition.” There has been some recent interest in renewable PPAs in Australia, but it is nevertheless a nascent market, but one that Energetics expects to grow in 2017. Three specific options were put forward as attractive options for Australian large energy users: With large-scale renewable energy projects also expected to surge in 2017, and a strong year in small-scale solar, renewable energy options in Australia are becoming more commonplace, despite the apathy of the country’s national leaders. Buy a cool T-shirt or mug in the CleanTechnica store! Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech daily newsletter or weekly newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.
News Article | March 4, 2016
Last year was a record year for renewable energy finance. According to Bloomberg New Energy Finance, investment in clean energy increased in China, Africa, the U.S., Latin America and India, driving the world total to its highest ever figure of $329.3B, up 4 percent from 2014 and beating the previous record set in 2011 by 3 percent. However, 2016 should give it a run for its money, so to speak.
News Article | January 15, 2016
Growth in renewable energy shows no signs of slowing, even though fossil fuel prices have plummeted. Here’s why.According to data released yesterday by Bloomberg New Energy Finance, a record $329 billion was invested in clean energy worldwide in 2015. Last year was also the strongest ever for installations of renewable energy capacity, with 64 gigawatts of wind and 57 gigawatts of solar power commissioned. Given the relentless plunge in oil prices, now flirting with $30 a barrel, that seems counterintuitive: conventional wisdom says that cheap fossil fuels inhibit the growth of renewables.
News Article | January 14, 2016
Investment in large renewable energy projects in Australia is running at just one-third of what is required to meet the 2020 Renewable Energy Target and behind countries such as Thailand and Morocco, Bloomberg New Energy Finance has found. While spending on large-scale projects recovered slightly last year from the depths of the 2014 investment freeze, the $1.18 billion compares with a peak of $3.29 billion in 2010 and with the $3.6 billion a year that is needed to meet the target, the analysts said in a report on Thursday.