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Ireland’s renewable auction sees cost reduction and favourable mechanism to support country achieve decade-end target, says GloblaData

The first Renewable Energy Support Scheme (RESS-1) round of Ireland’s first green energy auction provided a stage for the rapid deployment of onshore wind and solar projects. GlobalData, a leading data and analytics company, predicts that the scheme will be pivotal to Ireland’s contribution towards the EU-wide renewable energy target of 32% of overall generation […]
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Spain’s remaining coal-fired plants likely to be phased out by 2025

When Spain ordered a nationwide lockdown, electricity consumption increased in the residential sector. As a cost-effective alternative renewables took center stage as the portion of coal in the electricity generation mix diminished significantly. This led to Spain closing seven of its 15 coal-fired plants totaling around 4.6GW. Leading data and analytics company GlobalData estimates that […]
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Solar PV has potential to drive EU economy while competitive tariffs help sector grow in coming years, says GlobalData

The solar PV sector in Europe is anticipated to have a positive outlook post-COVID-19. Although distributed solar installations declined due to reduced manpower and supply chain delays, substantial impact on the sector resulting from cancellations is less likely. However, delays and postponements in utility-scale projects may well roll the commercialization of the impacted projects to […]
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Germany, Spain and UK to foster green Europe transition, while coal-based generation faces darkness in the COVID-19 standstill, says GlobalData

The COVID-19 pandemic drew the curtains over coal-based generation. Especially countries such as Germany, Spain and the UK, which saw the most decline in electricity demand and marshaled other countries in the expanding of power generation from renewable sources. GlobalData estimates that the year-on-year generation from wind and solar PV in EU countries is expected […]
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COVID-19 kept share of coal-based generation below 20% in H1 2020 as wind leads renewable generation in Germany, says GlobalData

In the wake of the pandemic, with the lockdown in-situ, the decrease in German electricity consumption is mainly attributed to the halt in the major industrial and commercial activities. Even though lockdowns are being eased, data and analytics company GlobalData anticipates utilities to continue preferring the cost-effective renewable sources as demand stays subdued for most […]
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Israel aims towards the sun to enlighten the economic recovery led by massive solar PV ambition, lowering the curtains for coal power generation by 2030, says GlobaData

Israel is taking COVID-19 as an opportunity to shift its focus on transforming its generation mix towards sustainability. The Energy Ministry released a plan to spend US$23bn in government and private funding on solar PV by 2030. The country plans to have 30% of generation from solar PV in 2030 from a meager 5% now. […]
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Post COVID-19 transition, heating, cooling and transport sectors should complement renewable’s impressive growth story, says GlobalData

The findings from the recently published report by REN21 suggested that the heating and cooling, and transportation sector along with the global policy landscape should complement the decarbonization growth vision through accelerated adoption of renewables as part of post-COVID-19 recovery outlook. GlobalData advises that, to meet the goals of the Paris Agreement, the share of […]
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‘Million Jobs Plan’ advocates creation of significant green employment and proposes to aid Australia’s clean energy transition post-COVID-19, says GlobalData

Beyond Zero Emissions’ (BZE’s) ‘Million Jobs Plan’ is expected to restructure Australia’s economy and create 1.8 million fresh employment opportunities over the next five years within the renewable sector. It further incorporates in-depth analysis and policy suggestions for better buildings, manufacturing and mining, transport, resource recuperation, land use, education training, research and zero-carbon communities, all […]
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COVID-19 pushes wind and solar PV to forefront of countries’ economic recovery packages

The COVID-19 pandemic led to a fall in electricity demand following authorities’ preference of electricity generation over renewable sources. This meant that coal-based generation saw an impressive contraction in its share within the electricity mix. Data and analytics company GlobalData anticipates that the generation mix is unlikely to roll back to its pre-COVID-19 state as demand is likely to remain low for the foreseeable future. Somik Das, Senior Power Analyst at GlobalData, comments: […]
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Higher precedence for solar PV to act as catalyst in New Zealand’s carbon mitigation plan towards achieving carbon neutrality by 2050, says GlobalData

The New Zealand government announced solar installations across six of its institutional campuses, utilizing the NZ$200m clean-powered public service fund. The ventures are to be introduced across selected universities, government and defense buildings, significantly diminishing their carbon footprint. This acts as a predicted step to the broader objectives of accomplishing the 2050 net zero carbon […]
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US utilities rush to diversify from coal, as renewables and storage to become kingpins in greener transition, says GlobalData

The COVID-19 pandemic has led utilities to rush and shift their focus to obtain electricity from the more cost-effective renewable sources, expanding energy storage and EV infrastructure. GlobalData predicts that generation from coal-based plants would reduce at an accelerated rate as several utilities in the US are planning to remove coal from their portfolios as […]
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US’ proposed ITC extension to 2025 would mean more than 25% share of solar and wind, says GlobalData

The proposed Investment Tax Credit (ITC) extension is greatly welcomed by power industry associations and developers. Cost-effectiveness is better observed in these large-scale utility projects, as they achieve break-even faster – as the generation is bartered for the long term. Hence, GlobalData expects that rejection of the extension would greaty bruise the developers involved in […]
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SECI’s 1.07 GW solar PV tender in Rajasthan with improved flexibility to generate greater interest, says GlobalData

The Solar Energy Corporation of India (SECI) has issued a tender for setting up 1.07 GW grid-connected solar photovoltaic (PV) power projects in Rajasthan, India. The projects would be developed on a build-own-operate (BOO) model. The selection of the developers would happen through an e-reverse auction. Furthermore, the Rajasthan government has provided a free-hand to […]
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