Virtually all the world’s demand for electricity to run transport and to heat and cool homes and offices, as well as to provide the power demanded by industry, could be met by renewable energy by mid-century. This is the consensus of 47 peer-reviewed research papers from 13 independent groups with a total of 91 authors that have been brought together by Stanford University in California.
A new report from Navigant Research examines the use of energy storage for wind integration, covering existing and upcoming projects, the competitive landscape and expected market growth. The rise of combined solar plus storage projects is reshaping the energy storage industry, yet employing energy storage for wind integration has fallen far behind. According to the report, despite the limited number of combined wind plus storage projects, the pairing of these technologies is critical to achieving a greater reliance on renewable energy generation.
The global energy storage market will grow to 15GW in 2024 from 4GW last year, according to research by Wood Mackenzie. Storage costs have fallen, direct incentives and clean energy targets are proliferating and competitive markets and vertically-integrated electricity providers are beginning to recognise the potential of energy storage, the analyst said. Continued policy and regulatory efforts will be key to driving upside in the market, it added.
Nearly a third of Vietnam’s primary energy supply could be covered by green energy by 2045, according to government proposals emerging as the country prepares to hold PV auctions. The 97-million-inhabitant state and current solar hotspot in Asia will work to ensure renewable energy accounts for a 15-20% share by 2030 and grows to 25-30% by 2045, under targets set out this month by Vietnam’s Politburo.
One of Asia’s key solar markets could push capacity to the double-digit-gigawatt region within 10 years if it presses on with a shift from feed-in tariffs (FiT) to auctions, according to the World Bank. Vietnam could take installed PV capacity to the “tens of gigawatts” and create some 45,000 jobs every year by 2030 if it uses competitive bidding rather than the direct subsidies it has opted for so far, the global body said in a report it published earlier this week.
Solar farms across five provinces are being launched this year, according to the Ministry of Mine and Energy. In its annual report, the ministry stated five solar parks are having their construction works accelerated so they can be connected to the national grid as soon as possible. Together, the solar projects will boost the nation’s power supply by a total of 160 megawatts (mW) a year. With each province accounting for; Svay Reign (20mW), Pursat (30mW), Kampong Speu (20mW), Battambang (60mW) and Banteay Meanchey (30 mW).
The Philippines government plans to introduce a Green Energy Tariff Program auction regime this year which it hopes will allocate 2 GW of renewable energy generation capacity. The proposed program has been put out to consultation with the authorities estimating it could generate $2 billion in clean energy investment. Public tenders will feature a maximum price for the renewable electricity generated by tendered projects and the program will be administered by the Philippines Department of Energy, according to a report published by the Institute for Energy Economics and Financial Analysis (IEEFA).
More than 200 local communities and 200 energy firms in Thailand will have a chance to take part in community-owned power projects from renewable resources, known as the Energy for All scheme, under a revision of the national power development plan (PDP). The 20-year plan's first draft was completed on Monday and cleared a public hearing in Bangkok yesterday. The scheme is expected to attract investment of 115.98 billion baht with combined power generation of 1,933 megawatts during 2020-24.