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Renewable Power Will Soon Come Out on Top
More than $2.7 trillion has been invested in building up renewable energy capacity over the past decade. In those same 10 years, renewables more than doubled their share of the global power mix, from 5.9% in 2009 to 13.4% last year. Those are two of the key findings of the latest Global Trends in Renewable Energy Investment report, published by the Frankfurt School-United Nations Environment Program Center and BloombergNEF [ read more … ]
Wind Energy
Study: Offshore wind farms could have “major” impact on fishing, shipping
An offshore wind farm planned for the waters off Martha’s Vineyard, combined with the “cumulative” effects of a larger build out of thousands of wind turbines off the East Coast, could have “major” impacts on the commercial fishing and shipping industries, a long-awaited federal study has found.
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Renewable energy associations commend BOEM for timely conclusion of Vineyard Wind environmental impact statement
In the process, the move earned praise from large renewable energy groups, including the American Wind Energy Association (AWEA), Business Network for Offshore Wind (BNOW), and the National Ocean Industries Association (NOIA). This praise was owed to BOEM remaining on schedule, despite the COVID-19 pandemic that has thrown many workplaces and schedules into disarray. [ read more … ]
Solar Energy
Despite Pandemic, New U.S. Solar Capacity Will Grow 33% in 2020
New U.S. solar installations will increase by a third this year, a report published on Thursday showed, as soaring demand by utilities for carbon-free power more than outweighs a dramatic decline in rooftop system orders for homes and businesses due to the coronavirus pandemic. The solar industry will install 18 gigawatts this year, enough to power more than 3 million homes, according to the report by the U.S. Solar Industries Association and energy research firm Wood Mackenzie. That is 9% less than the group’s forecast before the outbreak prompted construction delays, weakened consumer demand and tightened access to financing. [ read more … ]
Carbon Capture
Fossil Fuel’s Answer to Climate Change Just Got Less Expensive
Carbon capture, the fossil-fuel industry’s favorite weapon against climate change, has never really caught on because of the cost. That may be about to change. The Internal Revenue Service recently issued crucial guidance to help developers take advantage of tax credits for the systems, and supporters say it could usher in a new era for the controversial technology.
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EVs
GM’s Electric Bet Is Likely to Cost the Carmaker Market Share
GM’s $20 billion investment in electric models and self-driving technology over the next five years makes it one of the most aggressive carmakers when it comes to rolling out plug-in models, along with Germany’s Volkswagen AG. But the Detroit-based company plans to refresh only about 65% of its current sales volume with revamped vehicles, which is third-to-last among major manufacturers. VW is just ahead of GM at 66%. [ read more … ]
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