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

click to enlarge

Tweet

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

click to enlarge

Tweet

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

click to enlarge

Tweet