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Power

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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Solar to steer brisk EU transition from ‘grey’ to ‘green’ hydrogen economy as renewables gain preference during COVID-19 pandemic, says GlobalData

The EU has decided to target 33% of its installed capacity from renewable sources following the largest year-on-year (YOY) percentage growth in total installed capacity. Having set themselves stiff solar targets, key EU countries are looking at green hydrogen to boost their renewable drive, supported by the recently announced €1.85 trillion fiscal stimuli. However, while […]
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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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China’s massive hydropower build up within the country and globally to prevent the capacity and generation share from falling significantly, says GlobalData

Between 2019 and 2030, the share of hydropower in several major countries is estimated to continue falling. But globally, the decline is estimated to be less significant during this period, mostly due to the large scale capacity additions by Chinese companies not only in China but also in other countries. Most of the largest upcoming […]
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Solar PV short-term outlook to remain unchanged as industry expects stimulus measures in COVID-19 recovery packages, says GlobalData

COVID-19 has disrupted the global supply chain, making it difficult for solar PV developers to pursue project development activities, and impacted the annual installed solar capacity this year. However, the drop in solar PV Levelized cost of energy (LCOE) and power purchase agreements (PPA) over the years, combined with the limelight shifting to renewables during […]
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COVID-19 may provide an opportunity for economic stimulus and recovery efforts to boost clean energy transition in India, says GlobalData

COVID-19 has given birth to some solid challenges across the Indian power and transport value chain in the form of liquidity limitations, logistics, supply-demand challenges, and shifts in consumer demand and generating preferences. A study by NITI Aayog and Rocky Mountain Institute (RMI) recognized that the pandemic can provide an opportunity to propel the clean […]
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US utility-scale solar PV installation improves even as COVID-19 may dampen 2020 installation outlook, says GlobalData

The COVID-19 outbreak has disrupted the value chains and impacted power industries worldwide. The US solar industry is no different from the situation with the Q1 witnessing record installations in the first quarter. Even as the utility-scale installation improving, the pandemic is likely to dampen the sentiments and mute the project development activities for the […]
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Investment in renewable energy transition could act as a powerful recovery mechanism from COVID-19, says GlobalData

As the global economies try to mitigate the COVID-19 impact, investment in renewable energy expansion becomes an important cog in the wheel towards the economic recovery journey. Expanding the renewables will not only help countries deliver stronger climate action under the Paris Agreement but also fuel the economic activities across the value chain forming a […]
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Solar sector stands to reap benefits as solar irradiance improves due to COVID-19 induced lockdown, says GlobalData

With the lockdowns being implemented during April, the Indian electricity load patterns shifted significantly. As per the Central Electricity Authority (CEA), in comparison to 2019, the generation from the solar sector increased during March, April and May 2020. Such large leaps from renewable energy were seen because of the pollution-free environment, and good micro-climatic conditions […]
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