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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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New investment in wind, solar, and other clean energy projects in developing nations dropped sharply in 2018, largely due to a slowdown in China. The findings suggest that developing nations are moving toward cleaner power but not nearly fast enough to limit global CO 2 emissions. thousand terawatt-hours in 2018, up from 6.4

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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.

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Rivian to turn coal mine to solar energy center in Kentucky

Teslarati

Rivian plans to convert the Starfire Mine in Kentucky to a solar energy center. The conversion is estimated to be a $1 billion solar project. The Starfire Mine, Kentucky, was once one of the largest coal mines in the United States. billion vehicles in the global fleet,” said Rivian Founder and CEO RJ Scaringe.

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IEA: COVID-19 crisis causing the biggest fall in global energy investment in history

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The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report.

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1 in 5 new car sales globally were EVs in 2023, and that’s curbed oil demand – IEA

Baua Electric

Photo: Tesla Without EVs, solar, wind, and nuclear, the global rise in emissions in the last five years would have been three times larger, new International Energy Agency (IEA) analysis shows. Their emissions dropped to a 50-year low while coal demand fell back to levels not seen since the early 1900s.

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DOE to award $28.35M for R&D on advanced processing of rare earth elements and critical minerals from coal-based resources

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Scandium and yttrium are included in the manufacture of cell phones, LED screens, solar panels, energy infrastructure, defense technologies, and other essential high-tech applications. The current $5-billion global REE market is projected to grow 40% in the next five years, with similar growth anticipated for the CM market.

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BloombergNEF forecasts green hydrogen should be cheaper than natural gas by 2050 in some markets; falling costs of solar PV key

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These countries accounted for one-third of global GDP in 2019. BNEF expects the average levelized cost of solar PV to be 40% lower by 2050 than it did two years ago, driven by more automatic manufacturing, less silicon and silver consumption, higher photovoltaic efficiency of solar cells, and greater yields using bifacial panels.

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