Global New Energy Rising Fast
IEA Reports Reveal Rapid Growth of Renewables…
Stefan Jungcurt, 19 October 2017 (International Institute for Sustainable Development)
“…[I]n 2016, installations of renewable power capacity reached a new record of 165 gigawatts (GW), accounting for two-thirds of all new capacity. For the first time, solar photovoltaic (PV) installations had the highest share of all [new] energy sources, surpassing coal and accounting for 50% of all new installations [according to the IEA’s Renewables 2017]…The rise of solar PV was driven by record low prices determined in auctions reaching US$0.03 per kilowatt hour (KWh) in countries like India, United Arab Emirates, Mexico and Chile…IEA’s five-year forecast provides for continued expansion of renewable energies of more than 920 GW by 2022, which is equal to half of all existing coal-fired capacity. The estimate increased 12% compared to the last forecast period, due to a more optimistic outlook for solar PV in China and India. The study further predicts that wind and solar will account for 80% of renewable growth by 2022…[making it vital to invest] in system integration and flexibility through measures such as grid reinforcement, interconnections, storage, demand-side response to stabilize supply…[to] retain market value of renewable electricity…” click here for more
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