42522
Global Clean Energy Share to Rise by 2030
Energy

Global Clean Energy Share to Rise by 2030

Renewable energy will account for 40% of electricity output capacity by 2030, almost double today’s market share, according to the International Renewable Energy Agency (Irena).
"The expansion will be due to lower technology costs," Adnan Amin, Irena’s director general, said in an interview on Bloomberg TV in Dubai.
“We anticipate with the lower technology cost by 2030, we’re going to have renewables capacity in the global power system at around 40%, which is quite remarkable growth.”
That compares with 22% today, according to Irena.
Amin said the real challenge for renewables is capturing crude oil’s market share in heating, cooling and transportation products.
“As far as the power sector is concerned, oil plays a very little role in power generation worldwide” at about 5%, he said.
Electricity from solar energy is getting a boost as the price of solar power has declined.
Dubai, in the UAE, awarded a contract for a 200-megawatt solar plant in January 2015 at what was then a record-low price of 5.85 cents per kilowatt-hour.
Last month, the emirate received a bid for an 800-megawatt plant at a power price of 2.99 cents per kilowatt-hour.
According to Irena, falling crude prices have made alternative fuels less economically attractive, curbing investment in biofuels.
“There is a lot of momentum looking at electric mobility powered by renewables, but we’ve seen a real negative impact on biofuel investment," Amin said.

 

Short URL : http://goo.gl/z7qGuk
  1. http://goo.gl/tqwn5C
  • http://goo.gl/40N2y2
  • http://goo.gl/vbgUrp
  • http://goo.gl/a2U15H
  • http://goo.gl/dLVRcg

You can also read ...

Italy's Ansaldo Set to Produce Power From Iran's South Pars Gas Flares
Italy's Ansaldo Energia signed a memorandum of understanding...
Norway’s Saga Signs $2.9b Iran Solar Power Venture
Norway’s Saga Energy signed a €2.5 billion ($2.94 billion)...
French, German Groups Ink Water Agreements
French and German groups on Wednesday signed broad-ranging...
Total Says Will Try to Move Ahead With Iran Gas Project
French oil and gas major Total will try to push ahead with its...
Italian Firm to Build 910MW Power Station in Iran
Italian groups will help build a major thermal power station...
Tashkent Eyes Iran Oil Import, Mulls Transport Options
Uzbekistan is willing to join the list of Iran's crude oil...
Iraq Asks BP to Develop Kirkuk Fields
Iraqi Oil Minister Jabar al-Luaibi has asked BP to "quickly...
Brent, WTI Prices Pick Up
Oil prices rose on Wednesday as weekly US crude inventories...

Trending

Googleplus