“The energy storage industry should play a proactive role in supporting market development in Southeast Asia, a panel discussion at the Solar and Storage Finance Asia event heard this week, from Aquila Capital regional CEO Alexander Lenz. We speak exclusively with Yaron Ben Nun, CTO and founder of Nostromo, a startup aiming to commercialise a new ice-based energy storage for cooling buildings and Yaron is adamant that it can turn electricity demand for commercial buildings into a powerful tool of the energy transition. US independent power producer Talen Energy has hired developer Key Capture Energy to work on a battery project at one of its coal power plant sites in Maryland, as Talen pursues its new ESG-driven path. Koch Industries, another name more commonly associated with fossil fuels, has invested in zinc-based energy storage company Eos, through its Koch Strategic Platforms investment vehicle. The UK’s Flexion Energy has gained a US$200m+ investment commitment from an infrastructure investment group as it targets development of a 1GW battery storage portfolio and in South Australia, developers Maoneng and SAPGen are seeking permission to construct 465MW of large-scale battery storage, solar-plus-storage projects behind-the-meter and in front-of-the-meter make progress in Hawaii. Finally we round up some news about investors acquiring three US solar and storage developers, which could be a sign of things to come. Don’t forget the APAC region edition of our sponsored webinar series with Honeywell takes place next week (14 July) and you can still sign up by clicking the banner ad above. Thanks for reading and we hope you enjoy using the site.”
Renewable energy is useful energy that is collected from renewable resources, which are naturally replenished on a human timescale, including carbon neutral sources like sunlight, wind, rain, tides, waves, and geothermal heat. The term often also encompasses biomass as well, whose carbon neutral status is under debate. This type of energy source stands in contrast to fossil fuels, which are being used far more quickly than they are being replenished.
Renewable energy often provides energy in four important areas: electricity generation, air and water heating/cooling, transportation, and rural (off-grid) energy services.
Based on REN21’s 2017 report, renewables contributed 19.3% to humans’ global energy consumption and 24.5% to their generation of electricity in 2015 and 2016, respectively. This energy consumption is divided as 8.9% coming from traditional biomass, 4.2% as heat energy (modern biomass, geothermal and solar heat), 3.9% from hydroelectricity and the remaining 2.2% is electricity from wind, solar, geothermal, and other forms of biomass. Worldwide investments in renewable technologies amounted to more than US$286 billion in 2015. In 2017, worldwide investments in renewable energy amounted to US$279.8 billion with China accounting for US$126.6 billion or 45% of the global investments, the United States for US$40.5 billion and Europe for US$40.9 billion. Globally there were an estimated 10.5 million jobs associated with the renewable energy industries, with solar photovoltaics being the largest renewable employer. Renewable energy systems are rapidly becoming more efficient and cheaper and their share of total energy consumption is increasing. As of 2019, more than two-thirds of worldwide newly installed electricity capacity was renewable. Growth in consumption of coal and oil could end by 2020 due to increased uptake of renewables and natural gas.
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