EU funds the energy efficiency improvements in buildings

 Around EUR 25 billion have been allocated in energy efficiency investments in buildings from EU funds over the period 2014-2020, while more than half of these fundings (EUR 12.7 billion) have been invested in the public sector, according to the recent JRC report " Financing energy renovations at local and regional levels. European status and good practices".

Public procurement and grants & subsidies represent more than 80% of all financial instruments adopted and reported by local authorities for the achievement of the 2030 target within the Covenant of Mayors (CoM) initiative.

Source: https://lnkd.in/ghf8kAK9

Alberta's goal is to eliminate coal-fired electricity production by 2023, ahead of 2030 provincial deadline

 In 2014, 55%  of Alberta’s electricity was produced from 18 coal-fired generators. The Alberta government announced in 2015 it would eliminate emissions from coal power generation by 2030.

Provincial electric utility Capital Power Corp. plans to spend nearly $1 billion to switch two coal-fired power units west of Edmonton to natural gas and stop using coal entirely. Capital Power expects that direct carbon dioxide emissions at its Genesee power facility will be about 3.4 million tonnes per year lower than 2019 emission levels when the project is complete. The natural gas combined cycle units will be the most efficient in Canada, and they will be capable of running on 30% hydrogen initially, with the option to run on 95% hydrogen in the future with minor investments.

The growing cost-competitiveness of renewable energy makes coal plant retirements possible, due to Capital Power’s plans to increase its investments in solar power.

Calgary-based TransAlta Corp. said it will end operations at its Highvale thermal coal mine west of Edmonton by the end of 2021 as it switches to natural gas at all of its operating coal-fired plants in Canada by four years earlier than previously planned.  The Highvale surface coal mine is the largest in Canada and has been in operation since 1970.

Source: globalnews.ca

European Commission raised Europe’s 2030 climate ambition

UPDATED.  On October 6, the European Parliament voted to increase the EU’s climate target for 2030, supporting a 60% reduction in greenhouse gas emissions by the end of the decade, up from 40% currently. It is impressive that the adopted target is higher than one earlier proposed by the European Commission (55%)!

 EU-wide net greenhouse gas (GHG) emissions reduction target of at least 55% by 2030, compared to 1990 levels was proposed by EC on September 17.  Achieving of this level of ambition for the next decade will put the EU on a balanced pathway to reaching climate neutrality by 2050 but will require action in all sectors of the economy (see diagram below).

A comprehensive Impact Assessment of the social, economic, and environmental impacts demonstrates that this course of action is realistic and feasible.

CO2 emissions from the burning of fossil fuels are the largest source of greenhouse gas emissions in the EU, and together with fugitive non-CO2 emissions in the energy system, they are responsible for over 75% of EU greenhouse gas emissions.

Heliogen, a solar energy company backed by Bill Gates, made a breakthrough

Heliogen, a solar energy company, has discovered a way to use artificial intelligence and a field of mirrors to focus reflected sunlight so precisely that it generates extreme heat - up to 1500ºC. For the first time, concentrated solar energy can be used to create the high-temperature heat required to make cement, steel, glass and other industrial products. The Heliogen’s technology could eventually be used to create carbon-free, green hydrogen which could then be turned into fuel for cars, trucks and airplanes. 

Investments in clean energy by developing countries declined in 2018

Developing nations are moving toward cleaner power but not nearly fast enough to limit global CO2 emissions. Due to economic slowdown, investment in new wind, solar, and other non-large hydro renewables projects in China fell to $86 billion in 2018 from $122 billion in 2017. 

Financing of clean energy projects in India and Brazil also slipped $2.4 billion and $2.7 billion, respectively from the year prior.

WRI: to what extent multilateral development banks supporting a low-carbon future?

WRI’s working paper analyses approved and planned in 2015-2016 energy supply investments of three MDBs - the World Bank, International Finance Corporation (IFC) and Asian Development Bank (ADB),  which represent about 300 infrastructure projects with $35 billion of finance in developing countries.

Energy Efficiency Investment Toolkit presents a new perspective on boosting investments

The G20's Energy Efficiency Investment Toolkit, published by International Partnership for Energy Efficiency Cooperation, provides a set of collaborative and voluntary options for G20 countries to boost energy efficiency investments and realize the significant economic, environmental and social benefits of energy efficiency in their economies. 

Investment stimulated by market-based instruments for energy efficiency has risen six-fold over the last ten years

IEA published the first global overview of market-based instruments (MBIs) for energy efficiency, such as auctions, energy efficiency obligations on utilities and white certificate programmes. Contrary to other policy instruments, MBIs allow market actors to choose the measures and delivery routes that provide the most cost-effective way to achieve the outcomes set out by policy makers.

China will spend on renewable energy over third of trillion dollars by 2020

China's National Energy Administration proposed plan to spend more than $360 billion through 2020 on renewable power sources like solar and wind. This will allow to create more than 13 million new jobs in the renewable energy sector, curb the growth of greenhouse gasses that contribute to global warming and reduce the amount of soot that creates strong smog in Beijing and other Chinese cities.
Thanks in part to Chinese manufacturing, costs in the wind and solar industries are decreasing fast, making them competitive with power generation from fossil fuels like coal and natural gas. According to  Greenpeace, in 2015 China installed an average of more than one wind turbine every hour of every day, and covered the equivalent of one soccer field every hour with solar panels. Bloomberg New Energy Finance  estimates that China has invested $102bn in domestic renewable energy in 2015.
China surpassed the United States a decade ago as the world’s biggest emitter of greenhouse gasses, and now its GHG emissions are twice as big as in the U.S. Read more at https://www.nytimes.com

Green Climate Fund contributes US$ 378 million to EBRD projects

This contribution will be made in support of sustainable energy financing facilities the Bank is offering in Armenia, Egypt, Georgia, Jordan, Moldova, Mongolia, Morocco, Serbia, Tajikistan and Tunisia. The program, with overall cost of more than US$ 1.4 billion in the 10 countries, is expected to leverage a five-fold additional financing by participating private sector banks to reduce greenhouse gas emissions by about 2 million tonnes a year.

The Asia Super Grid will connect China, Japan, Russia and South Korea to boost renewables

In March this year, SB Energy Corp. (Japan), State Grid Corporation of China, Korea Electric Power Corp., and Rosseti, a Russian electric power and grid operator, signed a memorandum of understanding (MOU) to conduct technical and economic feasibility studies toward creating the international electricity transmission network in Northeast Asia. 

The launch of the world’s first large-scale tidal energy farm in Scotland

The initial phase of MeyGen tidal wave project was launched in Scotland in September. Four tidal wave turbines will be installed underwater simultaneously. The turbine is about 15 metres tall (49ft), with 16 metres blades diameter, and weighing in at almost 200 tonnes, each will produce 1.5 megawatts electricity.

Globally, solar power has doubled seven times since 2000

Solar power has grown 100-fold in the U.S. in the past decade and it cost come down by a factor of 150 since 1975. The price drop and the sales volume increase are directly linked - over the past four decades, for every doubling in scale of the solar industry, the price of solar modules has dropped roughly 26 percent.

Over 127 thousand Ukrainian homeowners received "warm credits" for energy efficiency improvement

Since the beginning of so called "warm credits" loan program, total amount of loans provided to Ukrainian homeowners have reached UAH 2 billion (around $80 million). Last week was record high in terms of program activities - 6352 new loans were provided for total amount of UAH 104 million ($4 million). 

Global electricity output from wind and solar will surpass nuclear electricity in 8 years and coal – in 20 years

Bloomberg's  New Energy Outlook 2016 forecasts a significantly lower track for global coal, gas and oil prices than previous projection,  and also shows a steeper decline for wind and solar costs. BNEF’s long-term forecast sees $11.4 trillion investment in global power generation capacity over 25 years, with electric vehicles boosting electricity demand by 8% in 2040.

Indian state of Punjab has launched world's largest rooftop solar power plant

Spread over multiple rooftops across 82 acres, it can reach capacity of 11.5 MW and generate enough electricity to power 8,000 homes.

Morocco’s concentrated solar power plant will help to meet the electricity needs of 1.1 million people

In February this year Morocco launched the first phase of the largest concentrated solar power (CSP) plant in the world. The three-plant Noor-Ouarzazate CSP complex called NOORo expects to achieve over 500 megawatts  installed capacity, ultimately supplying power to 1.1 million Moroccans by 2018. It is estimated that the plant will save for country about 2.5 million tons of oil annually and will reduce carbon emissions by 760,000 tons per year.

2015 was a record global growth year for both wind and solar power

According to Bloomberg, renewable energy has attracted in 2015 twice as much global investment as fossil fuels. As a result, renewable generation capacity increased by 152 gigawatts (GW) or 8.3% during 2015. Wind power grew 63 GW (17%) driven by declines in onshore turbine prices of up to 45% since 2010. Solar capacity increased 47 GW (26%) thanks to price drops of up to 80% for solar photovoltaic modules in the same time period.

Saudi Arabia creates $2 trillion investment fund for post-oil era

Saudi Arabia's Deputy Crown Prince Mohammed bin Salman unveiled ambitious plan "Vision 2030" aimed at ending the kingdom's "addiction" to oil and transforming it into a global investment power. The kingdom would raise the capital of its public investment fund (PIF) to 7 trillion riyals ($2 trillion).

British Columbia’s clean power industry has attracted more than $8.6 billion in investment

This number was presented in the report "BC Clean Energy Projects: Investment, Job Creation and Community Contributions", recently published by the Clean Energy Association of British Columbia (Canada). The money is spent in local economies, including the province’s north and interior regions, what allows to support over 20 000 direct, full-time equivalent person years of construction employment in every region of the province in the works on current and forthcoming projects.