Investors are turning away from fossil fuels and shifting into renewables because of falling costs and climate targets, with US banks lagging behind their European and Asian counterparts. This was the message from the Institute for Energy Economics and Financial Analysis’s (IEEFA) report Global Investors Move into Renewable Infrastructure, which was based on data from BloombergNEF. It put the increasing investment down to “the inherent advantages of investment in clean energy”, such as higher risk adjusted returns and stable cashflows, along with the COVID-19 recovery packages of some governments incentivising green investment. The report showed how in the financial year 2020, the clean energy sector received record investment, with US$501 billion committed – an increase of 9% of the previous year. Of this, the renewable energy sector received US$303 billion (60%) of total investment. Total renewable energy installations hit 260GW last year despite COVID-19 pressures, which is 50% more than 2019. In contrast, total fossil fuel capacity dropped to 60GW in 2020 from 64GW in 2019.
PV Tech 19th July 2021 read more »
Vibrations from Forth Bridge and Queensferry Crossing could be harvested and turned into electrical power. Unused energy caused by vibrations on the likes of the Forth Bridge and Queensferry Crossing could soon be harvested and converted into electrical power in a major new project led by an Edinburgh university.
Edinburgh Evening News 19th July 2021 read more »