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.
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.