Solar power is big business!
In an article from PV TECH, I read that “The route to decarbonisation in the energy sector will create benefits of US$10 trillion every year by 2050, while requiring only US$1.8 trillion to implement, according to a new joint report from the International Energy Agency (IAE) and the International Renewable Energy Agency (IRENA).
In their first ever collaboration, IEA and IRENA found that a total of 6 million jobs would be created, even when accounting for jobs lost in other industries.
Further jobs will also be created in the energy efficiency sector. The report stressed that efforts on the transition need to be stepped up urgently to stay in line with the targets of the Paris Agreement.
IRENA director-general Adnan Z. Amin, said: “Critically, the economic case for the energy transition has never been stronger. Today around the world, new renewable power plants are being built that will generate electricity for less cost than fossil-fuel power plants. And through 2050, the decarbonisation can fuel sustainable economic growth and create more new jobs in renewables.”
“Many forms of energy surround you: sunlight, the heat in your room and even your own movements. All that energy — normally wasted — can potentially help power your portable and wearable gadgets, from biometric sensors to smart watches.
Now, researchers from the University of Oulu in Finland have found that a mineral with the perovskite crystal structure has the right properties to extract energy from multiple sources at the same time.”- from Science Daily
Read more about how to garner energy from your immediate environment at: https://www.sciencedaily.com/releases/2017/02/170207142711.htm
“BP Plc (British Petroleum Public Limited Company) will invest $30 million in Fulcrum BioEnergy Inc., which makes biofuel from garbage, in a new partnership designed to curb airplane pollution. The London-based oil-producer also signed a 10-year deal to buy 500 million gallons (1.9 billion liters) of biofuel from Fulcrum’s North American plants, according to a statement by BP on Tuesday. BP will distribute the aviation fuel to planes through its unit Air BP Ltd., which sells about 7 billion gallons of aviation fuel annually.
Airlines facing pressure to clean up their pollution last month brokered a landmark deal in Montreal. Their accord created a global system that requires them to fund environmental initiatives from 2020 that may cost as much as $24 billion annually by 2035.” By Jessica Shankleman, Bloomberg, November 2016
“New York Governor Andrew Cuomo is pursuing the state’s 50 percent renewable by 2030 goal with vigor. On Wednesday he announced that the 90-MW South Fork Wind Farm, which will be located 30 miles southwest of the popular summer vacation spot, Montauk, and therefore invisible to beachgoers, is now approved by the board of trustees of the Long Island Power Authority. The approval comes just two weeks after Cuomo announced an unprecedented commitment to develop 2.4 GW of offshore wind power by 2030.”
Diversifying our power supply is key
Renewable Energy Analyst and Research Projects Manager of the Geothermal Energy Association, Benjamin Matek, reports that “Last fall, the California legislature passed SB 350, a bill that will increase the state’s renewable energy generation to 50 percent by 2030 utilizing resources like wind, solar, biomass, and geothermal energy. This goal will be a first. No large-scale economy like California has ever attempted to transition to a grid powered in majority by renewables.
Study after study on the California energy landscape point toward the same answer: make the grid diverse. California’s grid will require a mix of renewable resources like solar, hydropower, storage, wind, and geothermal. For example, a study commissioned by the Walton Family Foundation on a 50 percent renewable grid found that “replacing 10 TWh of solar PV with geothermal . . . reduces CO2 emissions by 4.2 million metric tons per year in California and 2.4 MMT/yr in the rest of the West.”
For more information on geothermal energy usage, go to: http://www.renewableenergyworld.com/articles/2016/04/studies-show-geothermal-and-grid-diversity-benefit-the-environment-and-consumers.html?cmpid=renewablegeothermal0552016&eid=326825548&bid=1395781
Renewable Energy World, one of the leading publications in the RE business just ran an encouraging story about the RE market.
“Renewable energy accounted for the majority (50.5 percent) of new U.S. electrical generation put into service during the first 11 months of 2016, according to the latest issue of the Federal Energy Regulatory Commission’s (FERC) monthly Energy Infrastructure Update (with data through Nov. 30, 2016).
Combined, newly installed capacity from renewable sources (i.e., biomass, geothermal, hydropower, solar, wind) totaled 9,655 MW, surpassing that from natural gas (8,109 MW), nuclear power (1,270 MW), coal (45 MW), and oil (33 MW) combined.
The rapid growth of renewables — particularly solar and wind — has resulted in their seizing an ever-growing share of the nation’s total generating capacity. Five years ago, renewable sources cumulatively accounted for slightly over 14 percent of total available installed generating capacity; now they provide almost 19 percent (18.69 percent): hydropower, 8.53 percent; wind, 6.58 percent; solar, 1.84 percent; biomass, 1.41 percent; and geothermal, 0.33 percent.”
Story source: http://www.renewableenergyworld.com/articles/2017/01/renewables-provide-majority-of-new-us-generating-capacity-through-november-2016.html?cmpid=enl_REW_GEOTHERMALENERGYNEWS_2017-01-12
“The comprehensive energy bill adopted this week by the Massachusetts legislature includes a provision requiring the state’s utilities to enter into long-term contracts to purchase both offshore wind and hydropower by 2027.
In addition to the 1,600 MW mandate for offshore wind, utilities would have to purchase an additional 9.45 million MWh of power annually from new Class I resources and hydropower,” writes Jennifer Delony, Associate Editor of Renewable Energy World magazine.
This move toward clean energy will create jobs and help keep the environment livable.