Following a strong year for clean energy spending, 2017 saw a 7% decline in renewable power investment – to around $298 billion – while the share of fossil fuels in energy supply funding rose for the first time since 2014, according to the International Energy Agency in a report published today.
The U.S. state’s latest report shows that it has beat its 2020 target for emissions reductions four years early, mostly thanks to more renewable energy.
The extent of the rapid growth underway in the Australian PV market has been laid out in the latest report by the APVI. Pointing to 2018 representing “another record year for Australian PV” the outstanding growth of the utility scale segment is a particular highlight – with 1.1 GW commissioned and 1.9 GW under development.
A new poll by Morning Consult found surprisingly strong support for a California-style mandate across the political spectrum, although Liberals were more likely to favor the measure than Conservatives.
While overall global investment in clean energy saw a decrease of just 1% YoY in the first half of 2018, solar’s share dropped 19% following changes to China’s PV policy and lower project costs, says Bloomberg NEF (BNEF). It forecasts this trend to continue throughout the year.
The Taiwanese analysts expect that overcapacity will force some solar players to abandon their business or file for bankruptcy. IHS Markit also sees further price declines and consolidation in the third quarter, although it does forecast signs of a speedy recovery.
Heath Frewin, the Head of Distribution at Energy Networks Australia sets out the “growing ethical dilemma” brought on by rising rooftop solar adoption.
As the federal government aims to ink a deal with the states on the National Energy Guarantee in August, it appears still to be negotiating within its own ranks. The ANU’s Mathew Stocks and Andrew Blakers crunch the numbers to assess whether coal or renewables will pay off for costs and jobs in Queensland.
According to a new report from the PV Market Alliance (PVMA), the global solar PV market will only be marginally affected by the recent China policy decisions, and will grow to become an up to 200 GW market by 2022. Diversification will continue, with new segments accounting for up to 25% of the entire market by this time.
Describing it as the “D-Day for renewables”, the Smart Energy Council is raising funds to campaign against the National Energy Guarantee – as currently proposed by the government. The solar and storage peak body has called for a 45%-by-2030 emissions reductions target as opposed to the current 26%.
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