UK government asks how future renewables incentives should work. The success of unsubsidized clean power facilities in the country – whether driven by corporate power purchase agreements or selling direct to the wholesale electricity market – has prompted the Department for Business, Energy and Industrial Strategy to ponder whether contracts-for-difference payments will be fit for purpose in the years ahead. Having confirmed in November that the contracts for difference (CfD) incentives scheme for renewables would be extended to 2035, the U.K. government is now asking for views on how the program might be adapted after this year’s planned auction round. Suggestions mooted by the Department for Business, Energy and Industrial Strategy (BEIS) include how to taper down CfD financial support to expose generators more to the wholesale electricity market; reducing the length of payment contracts; and applying the subsidy as a price floor, rather than ceiling.
PV Magazine 3rd Feb 2021 read more »
The world is being put at “extreme risk” by the failure of economics to take account of the rapid depletion of the natural world and needs to find new measures of success to avoid a catastrophic breakdown, a landmark review has concluded. Prosperity was coming at a “devastating cost” to the ecosystems that provide humanity with food, water and clean air, said Prof Sir Partha Dasgupta, the Cambridge University economist who conducted the review. Radical global changes to production, consumption, finance and education were urgently needed, he said. The 600-page review was commissioned by the UK Treasury, the first time a national finance ministry has authorised a full assessment of the economic importance of nature. A similar Treasury-sponsored review in 2006 by Nicholas Stern is credited with transforming economic understanding of the climate crisis. The review said that two UN conferences this year – on biodiversity and climate change – provided opportunities for the international community to rethink an approach that has seen a 40% plunge in the stocks of natural capital per head between 1992 and 2014.
Guardian 2nd Feb 2021 read more »
Saving Planet Earth from Catastrophe.
David Lowry’s Blog 3rd Feb 2021 read more »