Renewables and Efficiency

Moderating inflation and reduced market volatility compared to 2022 and 2023 resulted in lower prices for renewable electricity in power purchase agreements across Europe. During the third quarter of 2024, power purchase agreements (PPAs) for electricity sourced from renewable energy showed a 12.4% decline in price, compared to the same …

Despite the surge in renewable energy additions, the world is not yet on track to reach the goal of tripling renewables capacity by 2030, according to the Renewables 2024 report published by the International Energy Agency (IEA) on Wednesday. Global renewable capacity is expected to grow by 2.7 times by …

The global pipeline of floating offshore wind projects has hit 266GW, an increase of 9% over the past year, according to a new report by RenewableUK. The number of projects has increased globally during that time from 285 to 316. The pipeline includes projects at any stage: fully operational, under …

Europe has experienced negative energy prices several times this year, as the rapid pace of development of solar and wind energy outpaces the region’s ability to cope with excess supply. Electricity prices dropped into negative figures for 7,841 hours during the first eight months of 2024, sometimes to as much …

The U.S. is seeing record solar energy capacity growth each year, thanks to greater public and private investment in the sector. The already rapidly growing solar industry boomed following the introduction of the Inflation Reduction Act (IRA) and other favourable policies. This growth is expected to continue, with several large-scale …

British oil and gas multinational BP Plc (NYSE:BP) has announced plans to sell its onshore wind business in the U.S., saying the business is not aligned with its growth plans as it seeks to focus on its Lightsource BP solar partnership. The company says it will launch the sale process …

Financial institutions have pledged a total of $386 billion in investment commitments to help India boost its renewable energy industry, Renewables Energy Minister Pralhad Joshi said on Monday. India targets to have 500 gigawatts (GW) of renewables capacity installed by 2030, compared to around 153 GW capacity now. The country …

Analysis of data from the State Statistics Committee, the Ministry of Energy, and the State Agency for Renewable Energy Sources, as compiled by the Media Analysis Center (MTM), reveals significant growth in Azerbaijan’s renewable energy sector, Azernews reports. Since President Ilham Aliyev’s announcement of the “National Program for Renewable Energy …

A renewable energy farm could be built in the waters around Raffles Lighthouse, with a feasibility study expected to begin in the fourth quarter of this year. The Maritime and Port Authority of Singapore (MPA) told CNA that it has earmarked 30ha around the island and is looking into installing …

The world is rapidly ramping up its renewable energy capacity in line with ambitious climate pledges. While this is great for the planet, the accelerated transition to green brings new challenges. Many sectoral experts are now concerned about what the rise in electricity use from renewable sources could mean for …