Massive financial investment is needed in clean energy, transport and buildings to achieve climate goals, especially in emerging countries, such as India. The IEA projects that $1 trillion of annual investment is required through 2050 to reach the Paris targets and much more is needed to keep the warming below the 1.5ºC threshold as warned by the IPCC.
Mathematical models of climate change predict that the severity of natural disasters will increase as the world warms. The man-made carbon emissions that drive global warming continue to grow. According to a new report from the IEA, energy-related CO2 emissions rose by 1.7% last year, to 33.1 gigatonnes.
The Malaysian government is looking into energy efficiency and renewable energy to reduce electricity bills and decarbonising the government’s administration, said the Minister of Energy, Science, Technology, Environment, and Climate Change. In a statement from the Sustainable Energy Development Authority, she said by introducing new policies like the net energy metering programme, the government hopes it can catalyse and scale up the RE growth in the country.
In October, the Intergovernmental Panel on Climate Change issued a clarion call for the world’s governments to increase renewable energy capacity to 85 per cent of electricity by 2050 to urgently tackle climate change. The UN body for assessing the science related to climate change said this will help contain warming to below 1.5°C. But Southeast Asia is blatantly ignoring the IPCC’s plea.
Over the past few years, although there has been a climb in investment in renewable energy, not only authorised agencies, but investors have expressed their concern about the capacity of absorbing electricity of the national power grid. The southern central region is home to the nation’s renewable energy, but power grid conditions there are not prepared for upcoming demands.
The Thailand Energy Regulatory Commission plans to open up the long-awaited solar rooftop scheme in March, with a total capacity of 100 megawatts. This is the second round of the solar rooftop programme for local investors after the first round opened in September 2013 with a total capacity of 200MW, all of which has commenced commercial operation.
Due to their decreasing costs, lithium-ion batteries dominate a range of applications including electric vehicles, computers and consumer electronics. You might think about energy storage only when your laptop or cellphone are running out of juice, but utilities can plug bigger versions into the electric grid. And thanks to rapidly declining lithium-ion battery prices, using energy storage to stretch electricity generation capacity.
Although located at different latitudes and on different continents, Cambodia and Lithuania now share the distinction of joining the list of nations that have embraced reservoir-based floating PV. Cleantech Solar has announced the completion of a 9.8 MW solar installation that includes 2.8 MW of floating PV and will power Cambodian cement manufacturer Chip Mong Insee Cement Corporation.