Despite last year’s surge of$1.8 trillion in clean energy investments worldwide, investment remains below what is needed to meet the COP28 target of tripling renewable capacity by 2030, according to the latest EY Renewable Energy Country Attractiveness Index (RECAI).
This edition of RECAI focuses on BESS. According to the report, the U.S., bolstered by a 30% IRA tax credit, takes the top spot in the ranking of the world’s most attractive markets for BESS investment. China with strong government support, subsidies and plans to reduce costs, is second. The U.K., with its sophisticated energy market design and new energy bill classifying BESS as a generation asset, rounds out the top three.
A fourfold increase in global BESS deployment is forecast from 2023 to 2030, reaching 572 GW.
“Scaling up battery energy storage systems can help solve multiple problems holding up clean energy progress, including stabilizing and strengthening network infrastructure and enabling more distributed energy resources to connect to the grid,” says EY’s Arnaud de Giovanni.
“Focusing on four factors can help investors navigate this complex, highly regionalized and fast-changing market. These include building a resilient investment case, taking steps to maintain technology competitiveness, establishing the optimal business model or financing structure and mitigating supply chain risks.”
The post Energy Investments Failing to Keep World on Renewables Target, Says Report appeared first on Solar Industry.
Energy Investments Failing to Keep World on Renewables Target, Says Report
Renewable Energy
Myth Busting in Renewable Energy
I met a guy earlier today who told me that wind and solar are controversial, and that some people say that the mining and manufacturing of wind turbines requires more fossil fuels that the turbines themselves produce.
I told him that I’m aware of such people; they’re called “professional liars.”
I explained the concept of EROI, energy return on investment, and surprised him by saying that the EROI of wind is somewhere between 18 and 30, meaning that each wind turbine you see as you drive along the freeway will generate at least 18 times as much energy as was required in its mining, fabrication, installation, maintenance, and decommissioning–all the way up to 30 times that amount.
The generation of disinformation of renewables has become a cottage industry. People are paid to make up and publish complete bullshit, so as to discredit the burgeoning clean energy industry, and keep Big Oil in place.
Renewable Energy
Thanking God for Trump
As bad as things are in the United States, they could always get worse.
Trump could succeed in his quest to be a dictator, Christianity could be taught in schools, and unvaccinated adults and their kids could trigger another epidemic.
In terms of our reputation on the world stage, however, things really can’t get must worse; the countries around the globe already regard us with a mixture of hate and derision.
Yet regardless of what the future holds, there will always be idiots who that believe that Trump is our savior, like the author of the meme above.
Renewable Energy
Eastman Disbarred
Good to see John Eastman disbarred in California; it’s a small measure of justice.
Criminal prosecution in the future?
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