Global renewable energy is projected to rise by 50% in the next 5 years, IEA finds

October 22, 2019 by  
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The International Energy Agency (IEA) recently released its Renewables 2019 market forecast, detailing analysis on renewable energy and technologies. In the report, industry trends show that the world’s total renewable-based power capacity will grow by 50% in 5 years, increasing by 1.2 terawatts. Solar photovoltaic (PV) systems shall account for 60% of that increase.   Established in 1974, under the Organization for Economic Development and Cooperation (OECD), the IEA is an intergovernmental organization that acts as a policy advisor to its 30 member countries on matters concerning reliable, affordable and clean energy . It was formed following the 1973 – 1974 oil crisis to help members respond to energy supply disruptions. Since then, the IEA’s mandate has expanded to include the promotion of sound energy policy and the fostering of multinational energy cooperation. Today, the IEA’s mission focuses on energy security, economic development, environmental awareness and worldwide engagement. Related:  Renewable energy surpasses fossil fuels in the UK Because of its eco-conscious stance for efficiency and for reduced impact on the environment , the IEA has been a strong proponent for renewable energy. Renewable energy, after all, helps in mitigating climate change and creating a more sustainable energy future. Solar , wind and hydropower projects have been rolling out at their fastest rate in recent years. And, they are projected to experience increased growth rates in years to come. “This is a pivotal time for renewable energy,” says Dr. Fatih Birol, the IEA’s Executive Director. “Technologies such as solar photovoltaics (PV) and wind are at the heart of transformations taking place across the global energy system. Their increasing deployment is crucial for efforts to tackle greenhouse gas emissions, reduce air pollution and expand energy access.” Three major challenges face the renewable energy sector, which are “policy and regulatory uncertainty, high investment risks and system integration of wind and solar PV,” the IEA report states. “Important policy and tariff reforms are needed to ensure that distributed PV’s growth is sustainable .” Cost reductions coupled with government policy efforts can drive growth in the renewable energy market, all of which can be fully aligned with the Paris Agreement’s goal of limiting global temperature rise to 1.5 degrees Celsius. The IEA’s forecast of the changing energy landscape means that utilities and infrastructure will likely need to adapt quickly, too. “Renewables are already the world’s second largest source of electricity ,” adds Birol. “But their deployment still needs to accelerate if we are to achieve long-term climate, air quality and energy access goals.” Via Reuters Image via Oimheidi

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Global renewable energy is projected to rise by 50% in the next 5 years, IEA finds

The diversifying corporate renewable market needs a broad menu of risk mitigation options

January 23, 2019 by  
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Different companies have different appetites for renewable procurement.

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The diversifying corporate renewable market needs a broad menu of risk mitigation options

REBA, a Google SVP and a physicist find the equation for change

June 21, 2017 by  
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Google’s Urs Holzle, the Renewable Energy Buyers Alliance and John Goodenough have the imagination and capacity to make the impossible possible for renewable energy.

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REBA, a Google SVP and a physicist find the equation for change

Episode 28: Hyperloop, Etsy and the latest in green finance

May 6, 2016 by  
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The week on the GreenBiz 350 podcast: The future of transportation, Elon Musk on the fight for renewable energy and Ceres chief Mindy Lubber on sustainable investing.

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Episode 28: Hyperloop, Etsy and the latest in green finance

5 ways to grow the corporate clean energy market

March 8, 2016 by  
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After a banner year for renewable energy deals in 2015, it will take a broader expansion of enterprise buyers to expand the field.

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5 ways to grow the corporate clean energy market

Why Stadiums Keep Pushing the Line on Sustainability

March 3, 2012 by  
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Sports teams — and their facilities — face heated competition for the title of "greenest." The latest to score points for renewable energy is the Philadelphia Eagles, whose stadium will be powered by solar and wind power.

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Why Stadiums Keep Pushing the Line on Sustainability

Japan Steps Toward More Renewable Energy With New Feed-In Tariff

August 29, 2011 by  
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photo: Bernd / CC BY-SA Japan’s post-Fukushima energy rethink continues, with the legislature approving a new bill establishing a strong feed-in tariff for renewable energy. As Wi… Read the full story on TreeHugger

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Japan Steps Toward More Renewable Energy With New Feed-In Tariff

Bloomberg Plans to Turn Old NYC Landfills into Solar Power Plants

April 25, 2011 by  
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Mayor Bloomberg has outlined some new additions to his PlaNYC , which aims to cut New York City’s emissions by 30 percent by 2030.  One of the major new projects will be the building of solar power plants on old landfill sites. New York City has about 3,000 acres of shuttered landfills and through this plan 250 of those will be outfitted with solar power.  Once those plants come online, they’ll have a capacity of 50 MW, enough to power 50,000 homes.

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Bloomberg Plans to Turn Old NYC Landfills into Solar Power Plants

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