Remove China Remove Coal Remove Forecast Remove Wind
article thumbnail

Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

Green Car Congress

The arrival of cheap battery storage will mean that it becomes increasingly possible to finesse the delivery of electricity from wind and solar, so that these technologies can help meet demand even when the wind isn’t blowing and the sun isn’t shining. trillion of that going to wind and solar and a further $1.5

Wind 220
article thumbnail

Renewables to overtake coal as largest global electricity source in 2025

Teslarati

While more effort is needed to reach that goal, one energy organization has predicted that renewables will overtake coal generation as the world’s largest electricity source in early 2025. Solar PV and wind account for 95 percent of the predicted 7,300 GW renewable expansion between 2023 and 2028. In the U.S.,

Coal 135
article thumbnail

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

Green Car Congress

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
article thumbnail

IBM introduces new wind and solar forecasting system for utilities; big data analytics and weather modeling to predict output

Green Car Congress

The solution combines weather prediction and big data analytics to forecast accurately the availability of wind power and solar energy. By utilizing local weather forecasts, HyRef can predict the performance of each individual wind turbine and estimate the amount of generated renewable energy.

Wind 306
article thumbnail

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
article thumbnail

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

Green Car Congress

US oil production is the largest source of production growth in the forecast, but that growth remains uncertain because of relatively low capital investment from oil producers, EIA noted. EIA forecasts that the European benchmark Brent crude oil price will average less than $80 per barrel in 2024, more than 20% lower than in 2022.

article thumbnail

IBM Research launches 10y project to support China in transforming national energy systems; “Green Horizon”

Green Car Congress

IBM Research is launching a 10-year project to support China in transforming its national energy systems and protecting the health of citizens. China has made great achievements and contributed much to the world’s economic growth over the past 30 years. Chien, Chairman and CEO, IBM Greater China Group. —D.C.

China 275