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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. In 2021 alone, China’s CO 2 emissions rose above 11.9

Emissions 370
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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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Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

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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
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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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Wind project financing was up 16% from 1H 2021, at $84 billion. Both sectors have been challenged recently by rising input costs for key materials such as steel and polysilicon, as well as supply chain disruptions and rising financing costs. It also invested $58 billion in new wind projects, up 107% year-on-year.

Financing 243
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NETL framework for assessing economic viability of recovering REEs from unconventional sources

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China has been the dominant global supplier of REEs since 1988, providing up to 95% of the global REE market annually. Unconventional REE sources such as domestic coal and coal waste could yield the materials needed for the strong magnets necessary to turn wind into electricity and operate electric vehicles.

Coal 150
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BloombergNEF: solar, wind, batteries to attract $10T to 2050; curbing emissions long-term will require other technologies

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Deep declines in wind, solar and battery technology costs will result in a grid nearly half-powered by the two fast-growing renewable energy sources by 2050, according to the latest projections from BloombergNEF (BNEF). Wind and solar grow from 7% of generation today to 48% by 2050. —Matthias Kimmel, NEO 2019 lead analyst.

Wind 207
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Study Finds Wind Power Could Meet Chinas Entire Projected Power Demand for 2030

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A study by researchers at Harvard University and Tsinghua University shows that there is enough wind in China to generate electricity to supply the nation's entire projected demand for 2030 (about twice what is used now) at reasonable prices per kilowatt-hour. Assuming a guaranteed price of 0.516 RMB (7.6 McElroy et al.

Wind 250