Almost three-quarters of new electricity generation capacity built in 2019 uses renewable energy, representing an all-time record. New data from the International Renewable Energy Agency (Irena) shows solar, wind and other green technologies now provide more than one-third of the world’s power, marking another record. Fossil fuel power plants are in decline in Europe and the US, with more decommissioned than built in 2019. But the number of coal and gas plants grew in Asia, the Middle East and Africa. In the Middle East, which owns half the world’s oil reserves, just 26% of new electricity generation capacity built in 2019 was renewable. The world has invested about $3tn in renewables over the past decade, according to Irena, but annual investments must double by 2030 to tackle the climate emergency.
Edie 7th April 2020 read more »
Oil Companies Are Collapsing, but Wind and Solar Energy Keep Growing. The renewable-energy business is expected to keep growing, though more slowly, in contrast to fossil fuel companies, which have been hammered by low oil and gas prices. A few years ago, the kind of double-digit drop in oil and gas prices the world is experiencing now because of the coronavirus pandemic might have increased the use of fossil fuels and hurt renewable energy sources like wind and solar farms. That is not happening. In fact, renewable energy sources are set to account for nearly 21 percent of the electricity the United States uses for the first time this year, up from about 18 percent last year and 10 percent in 2010, according to one forecast published last week. And while work on some solar and wind projects has been delayed by the outbreak, industry executives and analysts expect the renewable business to continue growing in 2020 and next year even as oil, gas and coal companies struggle financially or seek bankruptcy protection.
New York Times 7th April 2020 read more »
Renewable energy accounted for the lion’s share of global power expansion last year, outstripping oil and gas growth by more more than double. The clean energy sector added 176 gigawatts (GW) of generating capacity globally in 2019, marginally lower than the 179 GW added in 2018. New renewable power accounted for 72% of all power expansion last year, according to new data released by the International Renewable Energy Agency (Irena). Irena’s annual renewable capacity statistics for 2020 found that renewables expanded by 7.6% last year, with Asia dominating growth and accounting for 54% of the total growth. Despite overall expansion of renewables slowing last year, total renewable power growth outpaced fossil fuel growth by more than double. Solar and wind contributed around 90% of total renewable capacity added in 2019.
Energy Voice 8th April 2020 read more »
The flurry of clean energy and emissions records that have toppled in recent months continued this week, with confirmation renewables generated more electricity than any other UK power source in the first three months of the year. The milestone was highlighted in the latest quarterly energy market report from analyst firm EnAppSys, which detailed how renewables generated 35.4TWh of power during the quarter, accounting for 44.6 per cent of total generation. High winds throughout much of the second half of the winter contributed to a significant year-on-year increase in renewables generation, which rose around 30 per cent from the 27.2TWh generated in the first three months of 2019. Overall, power output from wind farms exceeded 10GW for 63 per cent of the quarter and 5GW for 85 per cent of the three month period.
Business Green 8th April 2020 read more »