Remove Coal Remove Financing Remove Germany Remove Parts
article thumbnail

Germany and Australia to establish alliance on green hydrogen supply chain

Green Car Congress

German Federal Minister of Economics Peter Altmaier and Federal Minister of Research Anja Karliczek, together with their Australian counterpart, Energy Minister Angus Taylor, have signed a letter of intent to establish a “Germany Australia Hydrogen Accord” to facilitate a green hydrogen supply chain between the countries.

Australia 334
article thumbnail

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

Green Car Congress

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. The 2Q figure, at $3.9 billion raised, is the lowest quarterly total since 2Q 2020.

Financing 243
article thumbnail

Siemens presents three-point plan for implementing cost-efficient energy transition in Germany

Green Car Congress

Germany has embarked on a large-scale Energiewende (energy transition)—a policy-driven shift away from nuclear and fossil energy to a renewable energy economy. This scenario would ensure that Germany meets its climate targets, Siemens said. Source: Siemens. Click to enlarge. Electricity prices in comparison. Euro cents/kWh.

Germany 239
article thumbnail

BNEF: wind and solar boost cost-competitiveness versus fossil fuels

Green Car Congress

This year has brought a significant shift in the generating cost comparison between renewable energy and fossil fuels, according to detailed analysis by technology and region, published this week by Bloomberg New Energy Finance. In the US, coal and gas are still cheaper, at $65 per MWh, against onshore wind at $80 and PV at $107.

Wind 150
article thumbnail

China is on track to reach its clean energy targets this month… six years ahead of schedule

Baua Electric

Other countries haven taken notice of these efforts, including Germany, which will install Chinese-built wind turbines at an offshore wind farm of its own. This indicates a transition from coal and nuclear power to cleaner alternatives while still meeting growing demand on its local electrical grids. In June, it activated a 3.5-gigawatt,

Clean 52
article thumbnail

Global geothermal industry passes 12,000 MW operational

Green Car Congress

Financing was announced for projects in Costa Rica, Dominica, Djibouti, Ethiopia, Indonesia, Japan, Kenya, Mexico, Tanzania, and the United States, while projects in drilling and start-of-construction phases made headway in Chile, Germany, Guatemala, Italy, Japan, Montserrat, The Philippines, Rwanda, and Zambia.

article thumbnail

UN report finds world needs incremental $1.9 trillion invested in green technologies to avert planetary catastrophe; global per capita cap on primary energy consumption of 70 GJ/yr may be required

Green Car Congress

The past decade was the first in two centuries with increasing CO2 emissions intensities, owing to a “coal revival”, in contrast with the rapid conversion to natural gas in the 1990s. Last year’s survey called for a major overhaul of the machinery for international finance, aid and trade. The report comes out yearly.

Global 338