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.
Changing market conditions have made natural gas, wind and solar energy the lowest-cost technologies for new electricity generation for most of the U.S., according to research by University of Texas at Austin’s Energy Institute. The research features a series of maps that have been revised to reflect shifting market conditions, a new policy environment and other factors affecting the cost of electricity generation in counties across the U.S.
A new analysis has concluded that it would be cheaper to build new solar PV and onshore wind capacity in Indonesia, Vietnam, and the Philippines by the end of the next decade rather than continue operating existing coal-fired power plants.
New analysis shows it could be cheaper to build new renewable energy sources than to operate existing coal-fired power plants in Southeast Asia within 10 years. There are three inflection points that will make coal power economically obsolete: new renewables outcompete new coal; new renewables outcompete operating existing coal; and new firm renewables outcompete operating existing coal.
Thailand's Energy Minister has asked the Department of Alternative Energy Development and Efficiency to conduct a study to revise the target for energy use under Asean Ministers on Energy Meetings after Asean countries reached the exisiting target sooner than planned in 2021.
Major Singapore utility SP Group has launched a blockchain-powered renewable energy certificate marketplace, which is amongst the first of its kind worldwide. The platform allows local and international bodies of any size and in any location to trade in RECs related to a range of renewable energy sources.
Other than power trading, there are three major use cases for blockchain to impact the grid — grid security and generation balancing, infrastructure and microgrid financing, and a new REC. The following is a viewpoint by Kevin Stevens, partner at Intelis Capital, an early-stage venture capital firm investing in the digitization of analog industries.