Solar Power Will Kill Coal Faster Than You Think

Nettie James
June 21, 2017

For the 12 countries covered in MEED's latest research report, Mena Renewables 2017, total installed generating capacity in 2015 was 271,761MW, with 19,791MW or just over 7 per cent of this comprising renewable energy. Wind and solar energy should be taken seriously in the USA power picture because their share and impact are only going to grow.

Policy support: governments in the region increasingly wish to decarbonize their power sectors and are putting in place renewable energy targets.

He said the Nigeria renewable energy roundtable must help "to champion this new vision for renewable energy and ensure that we can translate theory to practice for the greater good of the Nigerian people". Though crude oil demand is expected to grow more in India than anywhere else over the next few years, the country is aiming to have all new cars sold be electric by 2030.

This year's milestone shows that renewables are becoming a major source of electricity in the US and can no longer be considered "alternative" energy, said Christopher Clack, CEO of the power grid modeling firm Vibrant Clean Energy and a former National Oceanic and Atmospheric Administration researcher.

Could this study provide additional motivation for those driving the shift to renewable energy? We believe that these factors made a strong case for investment in Taiwan and, at Partners Group, we recently agreed to invest in a Taiwanese solar power development platform.

The rapid growth of wind and solar is good news for the renewable energy industry.

"We are convinced that renewable energy probably offers us the most sustainable means of increasing energy access to those who have no electricity and have no immediate hope of being connected to the National grid". Given unlimited resources to build variable energy production facilities, while expanding the transmission grid and accompanying energy storage capacity enormously, one would eventually be able to meet any conceivable load.

A number of analyses, meta-analyses, and assessments, including those performed by the Intergovernmental Panel on Climate Change, the National Oceanic and Atmospheric Administration, the National Renewable Energy Laboratory, and the International Energy Agency, have concluded that deployment of a diverse portfolio of clean energy technologies makes a transition to a low-carbon-emission energy system both more feasible and less costly than other pathways.

This year, the country announced that it had broken another record by covering 85% of its energy needs with renewables for a full weekend at the end of April.

The United Nations released a report that said globally, renewable energy will be cheaper than fossil fuels in the next 10 years. And while this is far from the norm today, Germany expects it to be common practice by 2030. That's why, for now at least, natural gas will continue to dominate the global energy mix.

The batteries - already supplied by Chinese company, Tianjin Lishen Battery - will be tested to see if they can rapidly provide energy in the event of a spike in demand or if an existing back-up generator stops running, potentially saving hundreds of thousands of dollars a year in fuel and maintenance costs.

As part of its Greenest City Action Plan, Vancouver has a goal of eliminating its dependency on fossil fuels.

Other reports by Insurance News

Discuss This Article