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Renewables to overtake coal as largest global electricity source in 2025

Teslarati

During the COP28 climate conference held in Dubai last month, world leaders from over 130 national governments agreed to set a goal to triple world renewable energy installations by 2030. Success in meeting the tripling goal will hinge on this.”

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BloombergNEF: clean energy investment in developing nations slumps as financing in China slows; coal burn surges to record high

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While the number of new clean power-generating plants completed stayed flat year-to-year, the volume of power derived from coal surged to a new high, according to Climatescope , an annual survey of 104 emerging markets conducted by research firm BloombergNEF (BNEF). Inflows to clean energy projects in India and Brazil slipped $2.4

Coal 243
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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. Coal accounted for over 40% of the overall growth in global CO 2 emissions in 2021, reaching an all-time high of 15.3 billion tonnes.

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BNEF: cost of new renewables rises as inflation starts to bite

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The cheapest renewable power projects in the first half of 2022 were able to achieve an LCOE of $19/MWh, as in best-in-class onshore wind farms in Brazil, and $21/MWh for tracking PV farms in Chile, and $57/MWh for offshore wind in Denmark. These cost hikes mark a rough patch for renewables, but not an inflection point.

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Good news – the world has a real chance of achieving its goal of tripling renewables by 2030

Baua Electric

The world added 50% more renewable capacity in 2023 than in 2022 –and that means it has a real chance of achieving the goal set by governments at the COP28 climate change conference of tripling global capacity by 2030. The increases in renewable energy capacity in the US, Europe, and Brazil also hit all-time highs.

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana. EIA expects the share of US electricity generated from coal to decrease from 20% in 2022 to 18% in 2023 and then to 17% in 2024.

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BNEF report finds hydrogen promising decarbonization pathway, but carbon prices and emissions policies required

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The report’s findings suggest that renewable hydrogen could be produced for $0.8 This is equivalent to gas priced at $6-12/MMBtu, making it competitive with current natural gas prices in Brazil, China, India, Germany and Scandinavia on an energy-equivalent basis. Renewable energy has paved the way to carbon-free electricity.

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