A massive increase in the deployment of wind, solar and battery storage over the next decade is essential if the world is to meet its goal of reaching net zero emissions by 2050 – the key to meeting the goals of the Paris climate target. BloombergNEF says in its latest New Energy Outlook that more than three quarters of the effort to cut emissions in the next nine years falls to the power sector, and to the faster deployment of wind and solar PV in particular. “There is no time to waste,” said BNEF chief economist Seb Henbest in a statement accompanying the report. “If the world is to achieve or get close to meeting net zero by mid-century, then we need to accelerate deployment of the low-carbon solutions we have this decade – that means even more wind, solar, batteries, and electric vehicles, as well as heat pumps for buildings, recycling and greater electricity use in industry, and redirecting biofuels to shipping and aviation.”
Renew Economy 22nd July 2021 read more »
Annual state of the industry report from REA reveals a sector that is continuing to expand, but remains hampered by ‘policy gaps’. The UK’s renewable energy industry grew 8.7 per cent in 2019/20 to £22.4bn, with the sector employing nearly 140,000 people as the wind, solar, bioenergy, and electric vehicle markets all reported impressive growth. Those are the headline findings from the annual REview21 state of the industry report from trade body REA, but the report also warns that despite impressive progress on multiple fronts a combination of policy uncertainty and the economic fallout from the coronavirus pandemic mean the sector is not currently on track to meet the government’s emissions and clean energy targets. Drawing on official figures, the report highlights how surging wind, solar, waste-to-energy, and biomass power investment meant renewables share of the UK’s electricity mix rose from 31.07 per cent in 2018 to 34.85 per cent in 2019.
Business Green 21st July 2021 read more »