Within a decade, Indonesia, the Philippines and Vietnam will find it cheaper to create new solar cell capacity than keep existing coal-fired power plants running to generate electricity. Power generation from renewable sources is crucial to meeting the key goal of the 2015 Paris Agreement to maintain global average temperature rise well below 2 degrees C.
Thailand must work smarter and harder to create an effective renewable energy infrastructure, says the chairman and chief executive of B.Grimm. Implementing a successful renewable energy regime is not easy, and many factors must be taken into account in regards to the effect on costs for citizens and how to efficiently use resources.
According to a report from ADB, key factors such as the low-regulated price of electricity and uncertainty of the creditworthiness of Vietnam’s state-owned utility EVN are making it difficult to develop bankable solar and RE projects. An improved fiscal energy policy is recommended as the only way to provide the local energy sector with long-term capital and competence in conducting green credit appraisal.
State-run utility Electricity Generating Authority of Thailand is planning to facilitate 1GW of hybrid floating solar-hydro projects across eight dams throughout the country. The first two projects are already in the development phase, including 45MW of contracted capacity at Sirindhorn Dam, with a commercial operation date expected in 2020. A second 24MW project at Ubol Ratana Dam is due to come into commercial operation in 2023.
Blockchain, the technology underpinning cryptocurrency bitcoin, has been recommended and theorized for uses across a broad spectrum of sectors and countries. Now, Singapore is putting the tech to work in reshaping its energy industry, where companies can buy and sell renewable energy certificates that represent a unit of green energy production from the likes of wind or solar power.
Solar PV is “charging ahead” across the world as it outpaces other renewables, but far more significant action is required if a climate crisis is to be averted, the International Energy Agency has warned. This morning the IEA has released this year’s edition of its World Energy Outlook (WEO), including a mix of worldwide energy trends and forecasts under different models and scenarios.
The world has so many existing fossil fuel projects that it cannot afford to build any more polluting infrastructure without busting international climate change goals. The International Energy Agency said almost all of the world’s carbon budget up to 2040 would be eaten up by today’s power stations, vehicles and industrial facilities.
Wind and solar have become the cheapest sources of power, and natural gas-fired plants are the best option to back them up. The levelized cost of energy from large solar installations has fallen to as low as $36 per megawatt-hour, while wind is as cheap as $29, Lazard said in a report Thursday.