NewEnergyNews: New Energy Next Year Will Be Even Bigger

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.

YESTERDAY

  • Weekend Video: The Power Of Solar
  • Weekend Video: Tomorrow’s Transportation
  • Weekend Video: New Energy Is Possible Anywhere
  • THE DAY BEFORE

  • FRIDAY WORLD HEADLINE-The World Turns To New Energy
  • FRIDAY WORLD HEADLINE-New Energy Next Year Will Be Even Bigger
  • THE DAY BEFORE THE DAY BEFORE

    THINGS-TO-THINK-ABOUT WEDNESDAY, November 18:

  • TTTA Wednesday-ORIGINAL REPORTING: Bringing Customer-Owned Power Into The System
  • TTTA Wednesday-Transportation Electrification Gets Better Rules
  • THE DAY BEFORE THAT

  • MONDAY STUDY – The Policy Fight For A Modern Grid Gets Bigger
  • THE LAST DAY UP HERE

  • Weekend Video: Humans, Climate And The Damage Done
  • Weekend Video: Tomorrow’s Power System
  • Weekend Video: How Solar Shines
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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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  • MONDAY STUDY: A Look Ahead At New Energy In Buildings

    Friday, November 20, 2020

    New Energy Next Year Will Be Even Bigger

    Goldman Sachs: Renewable Power Will Become The Largest Area Of Spending In The Energy Industry In 2021

    Ariel Cohen with Talya Yuzucu, November 17, 2020 (Forbes)

    “…[Goldman Sachs forecasts that] spending for renewable power projects will become the largest area of energy spending in 2021, surpassing upstream oil and gas for the first time in history…The multinational investment bank and financial services company also expects the clean energy sector to reach a $16 trillion investment volume through 2030, eclipsing fossil fuels…[The main driver] is the diverging costs of capital…[Fossil fuel project hurdle rates, which measure risk, are] around 10-20% whereas renewables are in a much safer 3-5% range, and money likes to go where risk is lowest. These numbers are consistent in the European Union and the United States…

    …[R]enewable power will reach 25% of total energy supply capex in 2021, beating out hydrocarbons for the first time ever…[The cost of capital for oil and gas projects is rising and] only the most cost-conscious investments are being rewarded…In 2020 alone, oil and gas companies reportedly cut more than $37 billion from their annual spending plans…[and] oil and gas majors are shifting towards more climate-friendly business strategies…Big oil will allocate some 14% of their 2021 budgets to renewables vs. 4% in 2019…

    …[G]lobal weighted-average levelized cost of electricity (LCOE) of renewable power projects like utility-scale solar photovoltaics (PV) fell 82%; concentrated solar power (CSP) by 47%; onshore wind by 39%; and offshore wind down more than 29%...[and] many private investment banks, including Deutsche Bank, Morgan Stanley MS +0.1%, Citi Bank, have also announced their strategies to reduce their exposure to the oil and gas sector…The implications for the oil and gas sectors are dire. The unprecedented shift in financing from hydrocarbons to renewable energy projects described by Goldman Sachs is now underway.” click here for more

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