Sungrow Helps Power The Maldives With Solar + Storage

Sungrow solar and battery storage

Sungrow has announced the installation of solar PV and energy storage systems for five islands in the Maldives that will significantly reduce reliance on diesel based power generation.

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Oil And Gas Majors Warned Renewables Momentum Unstoppable

Renewable Energy - Risk And Opportunity For Oil And Gas Majors

Renewables present a significant threat to legacy oil and gas operations, but also an opportunity that cannot be ignored says research firm Wood Mackenzie; which specialises in energy, metals and mining sectors.

With renewables being the fastest-growing primary energy source globally over the next twenty years, it’s time for oil and gas majors that are yet to jump on the clean energy bandwagon to consider doing so as the case for building a position is becoming increasingly compelling.

“A potential tipping point for the shift into wind and solar could be an anticipated decline in the Majors’ hydrocarbon production,” says the firm. ” With new resources needed to sustain volumes beyond 2025, wind and solar could step in to the breach if discovered resource commercialisation, M&A and exploration fail to deliver, or economics weigh against continued development.”

The company forecasts average annual growth rates of 6% for wind and 11% for solar power for the next 20 years. Total primary energy demand for oil is expected to grow only 0.5% annually.

Currently, global oil and gas revenue is thirty-three times that of renewables, but in 2035 will only be thirteen times greater. If renewable energy penetration accelerates even more than predicted, revenues from renewables in 2035 could equal that of US unconventional sources.

In Wood Mackenzie’s “carbon-constrained scenario”, wind and solar power combined secure a 23% share of the global power market and 6% of the total market for all energy forms by 2035.

Renewables and energy market growth

In an interview with The Guardian, Wood Mackenzie’s director of research said the momentum behind renewable technologies is unstoppable and oil companies are now recognising this is a megatrend rather than a fad.

“There is definitely a risk to their core business,” said Valentina Kretzschmar.

Wood Mackenzie estimates a spend of US$350 billion out to 2035 on wind and solar power  is needed for the oil and gas majors to achieve the 12% market share they currently hold in the fossil fuels. While this seems an unlikely scenario, it expects costs associated with developing renewable energy projects to drop sharply over the period.

Renewables could account for over twenty percent of total capital allocation for the most active oil and gas majors after 2030 says the company.

Wood Mackenzie’s report, “Could Renewables Be The Majors’ Next Big Thing?” was prepared in partnership with GTM Research.

Mozambique’s First Utility Scale Solar Farm Project Gets Financing

Solar Power Facility For Mozambique

40.5MW Solar Facility For Mozambique | Image: Scatec Solar

The International Finance Corporation (IFC) recently announced provision of USD $55 million to support construction of Mozambique’s first utility scale solar PV plant.
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Energy Price Rises In NSW And SA From July 1

Gas and electricity prices - NSW and SA

More gas and electricity price hip pocket pain : Image: Laura Mason

Residential and small business electricity customers in South Australia and New South Wales are about to get whacked with hefty increases in power costs.

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Australia’s Electricity Blueprint For The Future – Finkel Review Report

Finkel Review - Energy In Australia

What’s known as the “Finkel Review” was released on Friday, a document touted as a blueprint to optimise Australia’s ailing National Electricity Market (NEM). [Read more…]

Australian “Sun Tax” Suggestion Rebellion Begins

Solar tax in Australia?

A sure-fire way to rile Australian solar power system owners is to mention anything that even remotely resembles a “sun tax”. The Australian Energy Market Commission (AEMC) just did and the response has been quick.

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Massive Energy Price Hike In The ACT – Rest Of Australia To Follow?

Beat electricity price rises with solar panels

Solar power to become even more attractive. | Image: cogdogblog, Public Domain

Uncertainty surrounding national energy policy has been blamed for a huge energy price hike in the ACT. This isn’t just bad news for those in Canberra – it’s perhaps a sign of things to come elsewhere in Australia.

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Australians Want More Government Focus On Renewable Energy: Poll

Wind and solar power in Australia

Solar panel image : Public Domain | Wind turbine image: Public Domain

Poll results just released indicate an overwhelming majority of Australians want to see a greater government focus on renewable energy, even if it costs more.

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Solar Powers Carbon Dioxide To Fuel Conversion

Solar power and carbon dioxide splitting

In another example of how solar power could help address the mess created by fossil fuel use, researchers have unveiled a new process for the solar-driven electrochemical reduction of carbon dioxide into fuel components.

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Tasmania Energy Efficiency Loans Scheme Gets $10 Million Boost

Installing solar power in Tasmania

Solar Energy Products Popular In TEELS | Image: Mauro Gregori, CC BY-SA 3.0, Link

Funding for interest-free loans through the TEELS scheme has been doubled after significant interest from Tasmanians wanting to purchase solar power systems.

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