News
Clean energy development presents challenges
With its aim to expand solar energy investment by 12 percent by the end of this year and increase it up to 20 percent over the next three years, Cambodia has been facing challenges of transiting to clean energy development, according to a case study report by Climate Investment Funds (CIF) and the Asian Development Bank (ADB). A report titled “Cambodia’s transition to a clean energy development pathway” released this month said while the objectives of the government, CIF and ADB aligned on introducing more renewable sources into the energy mixture, transitioning from traditional forms of production to more privately generated, solar-based energy posed major delivery challenges.
Global electric vehicle market could exceed $800 billion by 2027
Although recent report total revenue numbers may differ in the global electric vehicle market, but they agree that the future is very optimistic and project a significant rise in revenues in the next several years. A research report from Statista projected that between 2019 and 2026, the size of the global electric vehicle market is expected to increase almost five-fold to reach an estimated global market size of $567 billion U.S. dollars by 2026. This translates to a notable compound annual growth rate (CAGR) of around 15.6 percent between 2019 and 2026.
10 key recommendations to rapidly boost energy efficiency progress worldwide
Higher ambition and faster action by governments to accelerate improvements in energy efficiency worldwide are both vital and achievable, according to 10 key recommendations published today by a group of national leaders, ministers, top business executives and prominent energy experts...With the support of the IEA, the members of the Global Commission for Urgent Action on Energy Efficiency have over the past year explored the most effective ways to achieve stronger global progress in energy efficiency, which brings major benefits such as lower energy bills, large numbers of new jobs and significant reductions in greenhouse gas emissions.
Post-virus shift can boost renewables
Residents in many of Asean's most polluted cities have been delighted to observe significant decreases in pollution levels as a result of Covid-19 lockdown measures that have disrupted the economy, and thus many pollution-causing activities...However, with all the tragedy caused by the coronavirus pandemic, perhaps there can be a silver lining in terms of how we navigate Asean's energy transition if we can embrace renewable energy (RE) and clean technologies. Covid-19 seems to be accelerating the adoption of several pre-pandemic trends like digitalisation and robotics. Perhaps decarbonisation can be another.
DER market positioned for decade of high growth
The rate of annual investment in distributed energy resources (DER) will increase by 75% by 2030, with the market set for a decade of high growth. Favorable regulations, declining project and technology costs, and high electricity and demand charges are key factors driving investments in DER across the globe, according to Frost & Sullivan’s recent analysis, Growth Opportunities in Distributed Energy, Forecast to 2030. According to the analysis, the COVID-19 pandemic will reduce investment levels in the short term, but the market will recover.
ADB should end fossil fuel financing
NGO Forum on ADB, a network of over 250 civil society organizations across Asia calls out the Asian Development Bank to end its green posturing and make real commitments towards a Paris aligned policy and appropriate clean energy investments. This demand coincides with this year’s Asia Clean Energy Forum (ACEF) 2020 which started yesterday, June 16. This year ACEF’s thematic focus is centered upon building an inclusive, resilient sustainable energy future, recovering and rebounding from the social and economic crisis of the pandemic.
REN21 Report shows renewables’ progress limited to power sector
Growth in renewable power has been impressive over the past five years. But too little is happening in heating, cooling and transport. Overall, global hunger for energy keeps increasing and eats up progress, according to REN21’s Renewables 2020 Global Status Report (GSR), released today. The journey towards climate disaster continues, unless we make an immediate switch to efficient and renewable energy in all sectors in the wake of the COVID-19 pandemic.
Report: Investment in biomass, waste-to-energy up 9% last year
A report released by the UN Environment Programme, the Frankfurt School-UNEP Collaborating Centre, and BloombergNEF on June 10 shows biomass and waste-to-energy received $123 billion in financing for new projects between 2010 and 2019. Biofuels received $28 billion over the same period. The report, titled “Global Trends in Renewable Energy Investment 2020,” analyzes 2019 investments trends and clean energy commitments made by countries and corporations for the next decade. It also shows that that COVID-19 crisis has slowed deal-making in renewables in recent months and will impact investment levels in 2020.