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IEA: global electricity demand growing faster than renewables, driving strong increase in generation from coal

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Renewables are expanding quickly but not enough to satisfy a strong rebound in global electricity demand this year, resulting in a sharp rise in the use of coal power that risks pushing carbon dioxide emissions from the electricity sector to record levels next year, according to a new report from the International Energy Agency.

Coal 221
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BloombergNEF reports 11% year-on-year rise in renewable energy financing in the first half of 2022, for a total of $226B

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Global investment in renewable energy totaled $226 billion in the first half of 2022, setting a new record for the first six months of a year, according to Renewable Energy Investment Tracker 2H 2022, a new report published by research firm BloombergNEF (BNEF). Wind project financing was up 16% from 1H 2021, at $84 billion.

Financing 243
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Rhodium Group estimates US GHG fell 2.1% in 2019, driven by coal decline

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This decline was due almost entirely to a drop in coal consumption. Coal-fired power generation fell by a record 18% year-on-year to its lowest level since 1975. An increase in natural gas generation offset some of the climate gains from this coal decline, but overall power sector emissions still decreased by almost 10%.

Coal 370
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IEA: global CO2 emissions rebounded to their highest level in history in 2021; largely driven by China

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billion tonnes, their highest ever level, as the world economy rebounded strongly from the COVID-19 crisis and relied heavily on coal to power that growth, according to new IEA analysis. China was the only major economy to experience economic growth in both 2020 and 2021. billion tonnes.

Emissions 370
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Norwegian startup Blastr plans €4B green steel plant in Finland

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Fortum has developed the Joddböle area since the dismantling of its Inkoo coal-fired power plant there in 2017-2020. The controlled implosion of the last chimney at the plant was on 24 March 2020.) Back then, it was the biggest coal-fired power plant in the Nordic countries. The now-demolished Inkoo coal plant.

Finland 437
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Utility solar dethrones coal as the cheapest power source in Asia

Baua Electric

Photo: China News Service Renewable energy costs in Asia last year were 13% cheaper than coal and are expected to be 32% cheaper by 2030, according to a new study. This is significant because it marks a shift toward making renewables increasingly competitive with coal, a mainstay in APAC’s energy mix.

Asia 52
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Monash team proposes roadmap to renewable ammonia economy; 3 generations of technology

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While there is global potential to generate renewable energy at costs already competitive with fossil fuels, a means of storing and transporting this energy at a very large scale is a roadblock to large-scale investment, development and deployment. Generation 2 moves the Haber-Bosch process to renewable sources of hydrogen.

Renewable 419