(Frankfurt School - UNEP Collaborating Centre/ 5 April 2018)
Banking on sunshine: World added fare more solar than fossil fuel power generating capacity in 2017
The Global Trends in Renewable Energy Investment 2018 report, published on April 5th by UN Environment, the Frankfurt School-UNEP Collaborating Centre, and Bloomberg New Energy Finance, finds that falling costs for solar electricity, and to some extent wind power, is continuing to drive deployment. Last year was the eighth in a row in which global investment in renewables exceeded $200 billion – and since 2004, the world has invested $2.9 trillion in these green energy sources. Overall, China was by far the world’s largest investing country in renewables, at a record $126.6 billion, up 31 per cent on 2016.
(Vivian Nereim and Stephen Cunningham/bloomberg, March 29, 2018)
Saudi Arabia and SoftBank Group Corp. signed a memorandum of understanding to build a $200 billion solar power development that’s exponentially larger than any other project.
(The economist, 15 March 2018)
Collaboration and localisation will help,
On the eve of the first world war a young Winston Churchill switched the Royal Navy from coal to oil. As Daniel Yergin put it in his book “The Prize”, the reliance on doubtful supplies of oil from Persia rather than Welsh coal turned energy security into a question of national strategy. Churchill responded that “safety and certainty in oil lie in variety, and variety alone.”
(Simon Holmes à Court/theguardian, 16 March 2018)
While the government insists that renewables have made our grid unreliable, lights have stayed on and prices are dropping, Simon Holmes.
On the first day of autumn tens of thousands of Victorians received a welcome surprise from their power company — their electricity bills were going down. Prices were cut 5% because the retailer increased their investment in renewable energy.