NewEnergyNews: QUICK NEWS, May 30: Global Call For Carbon Tax; New Energy Boom Getting Bigger; Solar Could Be Worth Nearly Three TRILLION $$$

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    Tuesday, May 30, 2017

    QUICK NEWS, May 30: Global Call For Carbon Tax; New Energy Boom Getting Bigger; Solar Could Be Worth Nearly Three TRILLION $$$

    Global Call For Carbon Tax Sky-high carbon tax needed to avoid climate catastrophe, say experts; Economists, including Joseph Stiglitz and Nicholas Stern, say taxes of $100 per metric tonne could be needed by 2030

    Phillip Inman, 29 May 2017 (UK Guardian)

    “…[T]he world risks catastrophic global warming in just 13 years unless countries ramp up taxes on carbon emissions…[A report backed by the World Bank and the International Monetary Fund and endorsed by experts] including Nobel laureate Joseph Stiglitz and former World Bank chief economist Nicholas Stern said governments needed to move quickly to tackle polluting industries with a tax on carbon dioxide at $40-$80 per tonne by 2020…A tax of $100 a tonne would be needed by 2030 as one of a series of measures to prevent a rise in global temperatures of 2C…[P]oor countries could aim for a lower tax since their economies are more vulnerable…The aim of a tax on carbon would be essential to meet the targets set by the Cop21 Paris Agreement in 2015…The Trump administration has rejected calls to introduce a carbon tax in the United States, saying it would cost jobs…” click here for more

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    New Energy Boom Getting Bigger Forty Years Ahead Of Eia's Forecast, Renewables Double Their Share By Providing 19.35% Of U.S. Electricity. Wind Tops 7%; Solar Reaches 1.5%

    Kenneth Bossong, May 30, 2017 (Sun Day)

    “…[New Energy] sources (i.e., biomass, geothermal, hydropower, solar - inc. small-scale PV, wind) accounted for 19.35% of net U.S. electrical generation during the first quarter of 2017. Of this, conventional hydropower accounted for 8.67%, followed by wind (7.10%), biomass (1.64%), solar (1.47%), and geothermal (0.47%). Combined, non-hydro renewables accounted for 10.68% of total generation…[In 2012, EIA forecast non-hydro New Energy would get to only 9% by 2035…[It is now clear that solar, wind, and the other New Energies,] now providing almost one-fifth of the nation's electrical production, are vastly exceeding expectations…[Actual New Energy generation] is 9.70% greater than just a year ago…” click here for more

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    Solar Could Be Worth Nearly Three TRILLION $$$ Solar Energy’s Potential $2.8 Trillion Prize; A new projection put the opportunity in solar at $2.8 trillion and there's plenty of money to go around.

    Travis Hoium, May 27, 2017 (Motley Fool)

    “…[There is a clear path] to $2.8 trillion in solar power investments globally between now and 2035…[taking solar to] 17% of the world's energy, up from around 2% right now…[According to Shayle Kann of GTM Research, that amount of investment is a reasonable] assumption, given how cost effective [solar] already is today. If that happens, the industry's annual sales will grow from the approximately $87 billion made in 2016 to about $250 billion in 2035, leading to a cumulative installation over that period of 3,000 GW of solar power systems at a cost of $2.8 trillion…[Whether] from a dollar or volume perspective, that suggests enormous growth opportunities ahead for companies [like SunPower, First Solar, and Canadian Solar] that can build strong market shares in solar…[But solar projects] need to be financed in such a way that their investors can make money on them…[and] that hasn't always been easy for solar developers…[U]tilities are seeing solar as a bigger and bigger option for growth…” click here for more

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