NewEnergyNews

NewEnergyNews

Gleanings from the web and the world, condensed for convenience, illustrated for enlightenment, arranged for impact...

The challenge now: To make every day Earth Day.

While the OFFICE of President remains in highest regard at NewEnergyNews, the administration's position on the climate crisis makes it impossible to regard THIS president with respect. Therefore, until November 2020, the NewEnergyNews theme song:

YESTERDAY

  • Weekend Video: New Energy Needed
  • Weekend Video: New Energy From The Power Of Poop
  • Weekend Video: A Climate Crisis Plan
  • THE DAY BEFORE

  • FRIDAY WORLD HEADLINE-New Energy For The Recovery
  • FRIDAY WORLD HEADLINE-New Energy’s Pandemic Benefit
  • THE DAY BEFORE THE DAY BEFORE

    THINGS-TO-THINK-ABOUT WEDNESDAY,:

  • TTTA Wednesday-ORIGINAL REPORTING: Transactive Energy And The Value of Distributed Energy
  • TTTA Wednesday-New Energy Crosses The Political Divide
  • THE DAY BEFORE THAT

  • MONDAY STUDY: The Way To 95% New Energy By 2035
  • THE LAST DAY UP HERE

  • Holiday Weekend Video: “My Shot” from HAMILTON
  • Holiday Weekend Video: Declaration of Independence-The Backstory
  • Holiday Weekend Video: Declaration of Independence-The Words
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    Founding Editor Herman K. Trabish

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    Some details about NewEnergyNews and the man behind the curtain: Herman K. Trabish, Agua Dulce, CA., Doctor with my hands, Writer with my head, Student of New Energy and Human Experience with my heart

    email: herman@NewEnergyNews.net

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      A tip of the NewEnergyNews cap to Phillip Garcia for crucial assistance in the design implementation of this site. Thanks, Phillip.

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    Pay a visit to the HARRY BOYKOFF page at Basketball Reference, sponsored by NewEnergyNews and Oil In Their Blood.

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  • MONDAY’S STUDY AT NewEnergyNews, July 13:
  • A Global New Energy Recovery

    Monday, July 13, 2020

    A Global New Energy Recovery

    Sustainable Recovery; World Energy Outlook Special Report

    June 2020 (International Energy Agency)

    Overview

    Since the scale of the economic crisis began to emerge, the IEA has been leading the calls for governments to make the recovery as sustainable and resilient as possible. This means immediately addressing the core issues of global recession and soaring unemployment – and doing so in a way that also takes into account the key challenge of building cleaner and more secure energy systems.

    As they design economic recovery plans, policy makers are having to make enormously consequential decisions in a very short space of time. These decisions will shape economic and energy infrastructure for decades to come and will almost certainly determine whether the world has a chance of meeting its long-term energy and climate goals.

    The Sustainable Recovery Plan set out in this report shows governments have a unique opportunity today to boost economic growth, create millions of new jobs and put global greenhouse gas emissions into structural decline. This work was done in collaboration with the International Monetary Fund.

    The biggest global economic shock in peacetime since the 1930s is having a severe impact on employment and investment across all sectors, including energy.

    With the global economy set to shrink by 6% in 2020, some 300 million jobs may have been lost during the second quarter of the year. This disruption has sent shock waves through energy markets, with global energy investment expected to shrink by an unparalleled 20% in 2020.

    The energy sector, particularly electricity, has played a critical role in the global response to the Covid-19 crisis.

    Uninterrupted energy supplies have enabled hospitals to provide care, food and other essentials to be delivered, and millions of people to work and study from home while maintaining social contact online. Without access to reliable and affordable electricity, the lockdowns introduced by governments to tackle the public health crisis would have resulted in far greater economic damage.

    Governments are responding to the economic crisis on a massive scale.

    So far, they have announced measures worth about USD 9 trillion, focusing primarily on emergency financial and economic relief to prevent an even deeper crisis. With more stimulus coming, attention is now turning to longer-term recovery plans that seek to repair the economic damage from the disruptions caused by confinement measures and restrictions on mobility. Some plans already include energy, and its role could grow in successive rounds of stimulus spending.

    The Covid-19 pandemic has created a historic crisis for economies and energy markets

    In response to calls from governments around the world, the IEA has produced a Sustainable Recovery Plan for actions that can be taken over the next three years.

    This detailed plan is focused on cost-effective measures that could be implemented during the specific timeframe of 2021 to 2023. It spans six key sectors – electricity, transport, industry, buildings, fuels and emerging low-carbon technologies. The plan takes into account national and international objectives for long-term growth, future-proofed jobs and sustainable development goals.

    Based on rigorous analysis conducted in co operation with the International Monetary Fund (IMF), the Sustainable Recovery Plan has three main goals: boosting economic growth, creating jobs and building more resilient and cleaner energy systems.

    The plan sets out the policies and targeted investments for each key sector, including measures designed to: (1) accelerate the deployment of low-carbon electricity sources like new wind and solar, and the expansion and modernisation of electricity grids; (2) increase the spread of cleaner transport such as more efficient and electric vehicles, and high-speed rail; (3) improve the energy efficiency of buildings and appliances; (4) enhance the efficiency of equipment used in industries such as manufacturing, food and textiles; (5) make the production and use of fuels more sustainable; and (6) boost innovation in crucial technology areas including hydrogen, batteries, carbon capture utilisation and storage, and small modular nuclear reactors.

    Governments are set to make major decisions that will affect huge amounts of investment and shape infrastructure and industries for decades to come.

    Massive stimulus packages offer a unique opportunity to put the energy sector on a more sustainable path. Compared with the 2008 09 crisis, the costs of leading clean energy technologies such as wind and solar PV are far lower, and some emerging technologies like batteries and hydrogen are ready to scale up. Global CO2 emissions flat-lined in 2019 and are set for a record decline this year. While this drop, which results from lockdown measures and their economic impacts, is nothing to celebrate, it provides a base from which to put emissions into structural decline.

    A Sustainable Recovery Plan

    Our Sustainable Recovery Plan shows it is possible to simultaneously spur economic growth, create millions of jobs and put emissions into structural decline.

    Through detailed assessments of more than 30 specific energy policy measures to be carried out over the next three years, this report considers the circumstances of individual countries as well as existing pipelines of energy projects and current market conditions. Achieving the results outlined below would require global investment of about USD 1 trillion annually over the next three years. This represents about 0.7% of global GDP.

    This plan can add 1.1 percentage points to global economic growth each year.

    It would boost the annual growth of developing countries by around 1.3 percentage points and lead to global GDP being 3.5% higher in 2023 than it would have been otherwise. It would also bring lasting benefits to the global economy because investment in new infrastructure, such as electricity grids and more energy-efficient buildings and industries, would improve the overall productivity of both workers and capital. The measures would also accelerate the achievement of sustainable development goals: around 420 million people would gain access to clean-cooking solutions in low-income countries, and nearly 270 million people would gain access to electricity.

    The effect on employment would be significant, saving or creating roughly 9 million jobs a year over the next three years.

    Our new IEA energy employment database shows that in 2019, the energy industry – including electricity, oil, gas, coal and biofuels – directly employed around 40 million people globally. Our analysis estimates that 3 million of those jobs have been lost or are at risk due to the impacts of the Covid-19 crisis, with another 3 million jobs lost or under threat in related areas such as vehicles, buildings and industry.

    The largest amount of new jobs would be in retrofitting buildings and other measures to improve their energy efficiency, and in the electricity sector, particularly in grids and renewables.

    The other major areas where jobs are created or saved include energy efficiency in industries such as manufacturing, food and textiles; low-carbon transport infrastructure; and more efficient and new energy vehicles.

    The global energy sector would also become more resilient, making countries better prepared for future crises.

    Investment in enhancing and digitalising electricity grids, upgrading hydropower facilities, extending the lifetime of nuclear power and increasing energy efficiency would improve electricity security by lowering the risk of outages, boosting flexibility, reducing losses and helping integrate larger shares of variable renewables such as wind and solar PV. Electricity grids, the backbone of secure and reliable power systems, would see a 40% increase in investment after years of decline. This would put them on a stronger footing to withstand natural disasters, severe weather and other potential threats.

    As a result of the Sustainable Recovery Plan, annual energy-related greenhouse gas emissions would be 4.5 billion tonnes lower in 2023 than they would be otherwise.

    After the 2008 09 financial crisis, global CO2 emissions bounced back with the largest increase ever recorded as the world economy started growing again. The Sustainable Recovery Plan would avoid that kind of rebound in emissions and instead put them into structural decline while still generating economic growth and creating jobs. Air pollution emissions would also decrease by 5% as a result of the plan, reducing health risks around the world.

    The plan would make 2019 the definitive peak in global emissions, putting them on a path towards achieving long-term climate goals, including the Paris Agreement.

    Energy efficiency measures would deliver the largest overall emissions reductions under the plan, accompanied by a major increase in low-carbon electricity generation. Emissions of methane, a potent greenhouse gas, from oil and gas operations would fall. Around one-third of the reductions in greenhouse gas emissions would result from measures that also save money for consumers and industries. The process of reforming inefficient fossil fuel subsidies would also accelerate, taking advantage of low oil and gas prices to avoid hurting consumers.

    A wide range of policies, initiatives and new regulatory frameworks would be required to support the deployment of this plan.

    The focus for governments should be to deliver resilient and clean energy projects that are shovel-ready. They also need to develop a strong pipeline of new projects and to tailor support for distressed industries such as the auto sector. Creating the right investment conditions will be critical for mobilising large quantities of private capital and ensuring that this aligns with the goals of the Sustainable Recovery Plan. International co-operation is also essential to help align different countries’ actions and re-establish global supply chains.

    The IEA has been leading the calls for governments to make the economic recovery as sustainable and resilient as possible.

    We first conducted detailed analysis of the impact on global energy demand and assessed the damage caused in key areas. With this report, we are identifying the most effective measures available to governments as they consider their recovery plans. The Sustainable Recovery Plan is not intended to tell governments what they must do. It seeks to show them what they can do. The IEA is providing decision-makers in government, industry and the investment community with the strongest possible data, analysis and policy options to help them choose the best path forwards. We are bringing all of these groups together to identify how to act on the findings of this report at the IEA Clean Energy Transitions Summit on 9 July 2020.

    Saturday, July 11, 2020

    New Energy Needed

    Key: New Energy can renew the global economy. From euronews via YouTube

    New Energy From The Power Of Poop

    A way to transform the activities of the White House? No. Biogas from waste, which can be a niche solution for the climate crisis. From American Conservation Coalition Campus via YouTube

    A Climate Crisis Plan

    This is the House of Representatives plan. A starting point for talks on New Energy and electrification goals for 2030 and 2050. Over 500 pages. From CBS News via YouTube

    Friday, July 10, 2020

    New Energy For The Recovery

    What will power the post-pandemic global economic recovery?

    27 June 2020 (UN News)

    “As governments try to kick-start their economies, the UN is calling for recovery plans to be built around low-carbon technologies…In island economies, importing fossil fuels, such as oil and gas, comes at a considerable costs…[Many are] investing in renewable energy sources…[T]his shift to clean energy is expected to aid economic recovery, with new jobs in areas such as the production, installation, and maintenance of renewable energy equipment, from solar panels, to batteries and wind turbines…

    Another added benefit is energy security: with such a high dependence on imported oil, price fluctuations can make budgeting difficult, and any interruption to supply can have serious consequences. “Home-grown” energy from renewable sources can make the energy grid more reliable, and more resilient…[A new REN 21 report] shows, remarkable progress has been made by the renewable energy industry, where costs are falling, and clean energy use is increasing. However, this good news is currently offset by the fact that global energy use is rising, and is being powered, in the main, by fossil fuels…

    [T]he pandemic-related emissions drop barely makes a dent in the long-term problem of climate change, and an overhaul of the entire energy system is needed…The report warns that many recovery programmes include commitments to stick with dirty, polluting fossil fuel systems…[The forecast 2020 greenhouse gas emissions decrease from Covid 19 and the economic downturn of around eight per cent] is only a temporary respite…The question is whether the international community will seize this opportunity…” click here for more

    New Energy’s Pandemic Benefit

    Coronavirus accelerates global shift to cheaper, more sustainable renewable energy

    Dennis Wamsted, July 2, 2020 (The Hill)

    “…Coal suffered a historic drop in usage last year. Buyers paid producers as much as $37 per barrel of crude oil in April…The fossil fuel economy, which motored happily through one century, is quickly running out of steam. Gas, once considered a viable option to bridge the transition from “dirty” fossil fuels — such as coal and oil — to renewable energy, is now more likely to serve as the end of the fossil fuel era…[L]iquefied natural gas (LNG) prices have hit a 10-year low…

    [T]he coronavirus pandemic, which is expected to shave roughly $8 trillion from the U.S. economy over the next decade, has thrown the troubles of the energy industry into high relief…[With record low prices still falling, through] the middle of June, U.S. wind turbines, solar panels and dams had produced more electricity than coal on 90 separate days, demolishing the previous year’s record…Arizona, Colorado and Florida announced plans to close coal-fired plants and replace them with renewable sources, without using any gas-fired plants as a “bridge” fuel…

    …[I]t is unlikely that energy demand will return to pre-pandemic levels for years. Slumping demand means low prices for fossil fuels…Even without federal assistance, investors are likely to continue pouring money into renewable projects around the globe, which are now widely seen as low-risk investments promising stable returns — in sharp contrast to the volatility and uncertainty that plagues the oil and gas sector. Additionally, many investors, increasingly worried about the risk of climate change, are looking to shift their funds into sustainable projects and industries…[The bottom line is that a transition to a renewable-powered world is likely to be accelerated by the bottom line…” click here for more

    Wednesday, July 08, 2020

    ORIGINAL REPORTING: Transactive Energy And The Value of Distributed Energy

    Green Mountain Power's pioneering steps in transactive energy raise big questions about DER's value; The Vermont utility's program will show what distributed energy resources are worth in customer-to-customer transactions

    Herman K. Trabish, March 4, 2020 (Utility Dive)

    Editor’s note: As the power system requires more than the least cost resources to maintain balance, the question of value is becoming more important.

    The ultimate dream for distributed energy resources (DER) is "transactive energy" and a completely decentralized energy marketplace that allows transactions between all residential and commercial customers on the distribution system.

    Transactive energy is now done in wholesale power markets, but the transactions are enabled by system operators’ automated mechanisms for supply-demand balancing. Those kinds of technologies, regulations and clear price signals are not yet available at the retail level. But new software platforms could soon allow customer-to-customer transactions by automating supply-demand balancing based on real time DER market value.

    "Transactive energy should derive optimum value from customer-owned or utility-owned assets," Avista Utilities Electrical Engineering Fellow and Technology Strategist Curtis Kirkeby told Utility Dive. "But value is not cost per kWh, it is the relative costs of keeping electricity flowing. On the distribution system, value is complex because of the magnitude of customers and assets."

    New pilots are using technology-enabled auctions to develop price signals and resolve some of the complexities of DER value. A pioneering new Green Mountain Power program will use third-party developed software to show what premium customers are willing to pay for renewables generated electricity. The bigger question, which power system stakeholders are now working on, is what the value of peer-to-peer transactions can be in balancing system needs and meeting policy goals.

    Transactive energy would allow customers to market energy they generate to other customers on the distribution system. But that could compromise the utility's management of the distribution system. GMP's undertaking goes further than previous pilots in testing if transactions can take place without threatening utility control.

    Significant early pilots by the Pacific Northwest National Laboratory (PNNL) in the 1990s advanced understanding of transactive energy’s value. It is a combination of power consumers’ preferences and choices and "how much an individual or entity who consumes power is willing to pay for energy when there is too much demand and not enough supply," early PNNL work concludedclick here for more

    New Energy Crosses The Political Divide

    Poll: GOP Voters Overwhelmingly Support Clean Energy to Jumpstart Economy, Create Global Competitive Advantage

    June 25, 2020 (Citizens for Responsible Energy Solutions [CRES])

    “…[A survey from conservative groups Citizens for Responsible Energy Solutions (CRES) and The Western Way (TWW) found that two-thirds (67 percent) of Republican and Republican-leaning voters agree making investments in clean energy are important to our nation’s effort to rebuild the economy after the coronavirus shutdown...[and three-quarters] support federal action to accelerate the development and use of clean energy… [The June 6 to June 16 online survey of 1,009 Republicans and Republican-leaning independents nationwide also] found that 70 percent of Republicans agree that accelerating the growth of clean energy in the United States can help the country become a world leader in the competition for green economic development…

    …[T]wo-thirds of Republicans (65 percent) believing it is important for the Republican Party to focus on the production of clean energy…[There was strong support for opening up more public lands to mining and exploration to access minerals important for energy and national security…[Nearly 55 percent] consider climate change to be a serious problem…[Two-thirds of Republicans said] human-caused pollution contributes to climate change…[and 72 percent] support the federal government taking steps to reduce emissions…” click here for more

    Monday, July 06, 2020

    The Way To 95% New Energy By 2035

    Plummeting Solar, Wind, And Battery Costs Can Accelerate Our Clean Electricity Future

    June 2020 (Goldman School of Public Policy, University of California Berkeley)

    Executive Summary

    Global carbon emissions must be halved by 2030 to limit warming to 1.5°C and avoid catastrophic climate impacts. Most existing studies, however, examine 2050 as the year that deep decarbonization of electric power systems can be achieved—a timeline that would also hinder decarbonization of the buildings, industrial, and transportation sectors.

    In light of recent trends, these studies present overly conservative estimates of decarbonization potential. Plummeting costs for wind and solar energy have dramatically changed the prospects for rapid, cost-effective expansion of renewable energy. At the same time, battery energy storage has become a viable option for costeffectively integrating high levels of wind and solar generation into electricity grids.

    This report uses the latest renewable energy and battery cost data to demonstrate the technical and economic feasibility of achieving 90% clean (carbon-free) electricity in the United States by 2035. Two central cases are simulated using state-of-the-art capacityexpansion and production-cost models: The No New Policy case assumes continuation of current state and federal policies; and the 90% Clean case requires that a 90% clean electricity share is reached by 2035.

    Key Findings

    STRONG POLICIES ARE REQUIRED TO CREATE A 90% CLEAN GRID BY 2035

    The 90% Clean case assumes strong policies drive 90% clean electricity by 2035. The No New Policy case achieves only 55% clean electricity in 2035 (Figure ES-1). A companion report from Energy Innovation identifies institutional, market, and regulatory changes needed to facilitate the rapid transformation to a 90% clean power sector in the United States.

    THE 90% CLEAN GRID IS DEPENDABLE WITHOUT COAL PLANTS OR NEW NATURAL GAS PLANTS

    Retaining existing hydropower and nuclear capacity (after accounting for planned retirements), and much of the existing natural gas capacity combined with new battery storage, is sufficient to meet U.S. electricity demand dependably (i.e., every hour of the year) with a 90% clean grid in 2035. Under the 90% Clean case, all existing coal plants are retired by 2035, and no new fossil fuel plants are built. During normal periods of generation and demand, wind, solar, and batteries provide 70% of annual generation, while hydropower and nuclear provide 20%. During periods of very high demand and/or very low renewable generation, existing natural gas, hydropower, and nuclear plants combined with battery storage cost-effectively compensate for mismatches between demand and wind/solar generation. Generation from natural gas plants constitutes about 10% of total annual electricity generation, which is about 70% lower than their generation in 2019.

    ELECTRICITY COSTS FROM THE 90% CLEAN GRID ARE LOWER THAN TODAY’S COSTS

    Wholesale electricity costs, which include the cost of generation plus incremental transmission investments, are about 10% lower in 2035 under the 90% Clean case than they are today, mainly owing to low renewable energy and battery costs (Figure ES2). Pervasiveness of low-cost renewable energy and battery storage across the United States requires investment mainly in transmission spurs connecting renewable generation to existing high-capacity transmission lines or load centers. Hence, additional transmission-related costs and siting conflicts are modest. Relying on natural gas for only 10% of generation avoids large investments for infrequently used capacity, helping to avoid major new stranded-asset costs. Retaining natural gas generation averts the need to build excess renewable energy and long-duration storage capacity—helping achieve 90% clean electricity while keeping costs down. While still lower than today’s costs, wholesale electricity costs are 12% higher under the 90% Clean case than under the No New Policy case in 2035. However, this comparison does not account for the value of emissions reductions or job creation under the 90% Clean case.

    THE 90% CLEAN GRID AVOIDS $1.2 TRILLION IN HEALTH AND ENVIRONMENTAL DAMAGES, INCLUDING 85,000 PREMATURE DEATHS, THROUGH 2050

    The 90% Clean case nearly eliminates emissions from the U.S. power sector by 2035, resulting in environmental and health benefits largely driven by reduced mortality related to electricity generation (Figure ES-3). Compared with the No New Policy case, the 90% Clean case reduces carbon dioxide (CO2) emissions by 88% by 2035. It also reduces exposure to fine particulate (PM2.5) matter by reducing nitrogen oxide (NOx) and sulfur dioxide (SO2) emissions by 96% and 99%, respectively.1 As a result, the 90% Clean case avoids over $1.2 trillion in health and environmental costs, including 85,000 avoided premature deaths, through 2050. These savings equate roughly to 2 cents/kWh of wholesale electricity costs, which makes the 90% Clean case the lowest-netcost option when environmental and health costs are considered.

    SCALING-UP RENEWABLES TO ACHIEVE 90% CLEAN ENERGY BY 2035 IS FEASIBLE

    To achieve the 90% Clean case by 2035, 1,100 GW of new wind and solar generation must be built, averaging about 70 GW per year (Figure ES-4). Recent U.S. precedents for natural gas and wind/solar expansion suggest that a renewable energy buildout of this magnitude is challenging but feasible. New renewable resources can be built cost-effectively in all regions of the country.

    THE 90% CLEAN GRID CAN SIGNIFICANTLY INCREASE ENERGY-SECTOR EMPLOYMENT

    The 90% Clean case supports a total of 29 million job-years cumulatively during 2020–2035. Employment related to the energy sector increases by approximately 8.5 million net jobyears, as increased employment from expanding renewable energy and battery storage more than replaces lost employment related to declining fossil fuel generation. The No New Policy case requires one-third fewer jobs, for a total of 20 million job-years over the study period. These jobs include direct, indirect, and induced jobs related to construction, manufacturing, operations and maintenance, and the supply chain. Overall, the 90% Clean case supports over 500,000 more jobs each year compared to the No New Policy case.

    Accelerating The Clean Energy Future

    Establishing a target year of 2035, rather than the typical 2050 target, helps align expectations for power-sector decarbonization with climate realities while informing the policy dialogue needed to achieve such an ambitious goal. Aiming for 90% clean electricity—rather than 100%—by 2035 is also important for envisioning rapid, cost-effective decarbonization. By 2035, emerging technologies such as firm, low-carbon power should be mature enough to begin to replace the remaining natural gas generation as the nation accelerates toward 100%, crosssector decarbonization. Reaching 90% zero-carbon electricity in the United States by 2035 would contribute a 27% reduction in economy-wide carbon emissions from 2010 levels.

    Saturday, July 04, 2020

    “My Shot” from HAMILTON

    America is the world's shot at democracy. A democracy can be renewed in any election. From usnavi via YouTube

    Declaration of Independence-The Backstory

    History lesson. From historychannel via YouTube

    Declaration of Independence-The Words

    Read by JFK. Make them MEAN something. From PaddyIrishMan2 via YouTube

    Happy Fourth!

    Friday, July 03, 2020

    Global Coal Is On Its Way Out

    New Analysis Shows the Global Transition from Coal to Clean Energy Has Reached a Financial Tipping Point

    June 30, 2020 (Rocky Mountain Institute, Carbon Tracker Initiative, and Sierra Club)

    “…[It is] cheaper to build new renewable energy capacity including battery storage than to continue operating 39 percent of the world's existing coal capacity…[and the] share of uncompetitive coal plants worldwide will increase rapidly to 60 percent in 2022 and to 73 percent in 2025…[A new report shows that replacing] the entire global coal fleet with clean energy can be done at a net savings to society as early as 2022…The rapidly declining costs of renewables push net annual savings to $105 billion in 2025…[without] considering coal's dire health, climate, and environmental impacts, or accounting for the social and environmental benefits of reducing pollutants. Currently, coal phaseout hasn't kept pace with eroding economics…

    …[The report] lays out options for governments and public finance institutions to accelerate coal phase-out…[through] an integrated three-part approach: 1) refinancing to fund the coal transition and save customers money on day one, 2) reinvesting in clean energy, and 3) providing transition financing for workers and communities…[O]utside the United States, a third of the global coal fleet is already more costly to continue operating than building new renewables with storage today. By 2025, that number will reach nearly 80 percent globally with several regions and countries seeing next to no competitive coal…” click here for more

    Getting New Energy Into The World’s Emerging Markets

    A new approach to scaling-up renewable power in emerging markets

    Milagros Rivas Saez, 30 June 2020 (World Economic Forum)

    “…With the world going through an unprecedented pandemic, providing affordable energy to the unserved [nearly 840 million people] is even more critical for saving lives, powering health facilities and keeping people connected…Renewable energy, and especially solar power, has emerged as one of the key solutions…Utility-scale solar photovoltaic (PV) power generation is developing rapidly around the world, and costs have fallen significantly…In emerging markets, the uptake of solar PV takes longer because it is difficult to attract larger and more experienced developers. Compared with other regions, the existing political and credit risks have greatly increased prices…[But] there is huge demand for innovative and scalable solutions in emerging markets…

    ...[A] packaged solution that offers tools and templates to governments that have proven to work…A single mandate signed by a government can include all or part of the technical, financing and guarantee products that these institutions provide…1. It de-risks projects, which delivers lower tariffs…2. It streamlines processes…3. It achieves economies of scale…[A]uthorizations signed using this approach represent more than 1 GW of new solar power generation under development, and private sector investment is expected to exceed $1 billion…[Financing] will require extensive public and private investment…[and] a pipeline of well-designed and bankable projects…Standardized approaches are helping to build affordable renewable energy pipelines. The next stage is looking at how to include energy storage in these projects…” click here for more