{"id":4869,"date":"2015-06-30T13:28:42","date_gmt":"2015-06-30T02:58:42","guid":{"rendered":"http:\/\/www.solarquotes.com.au\/blog\/?p=4869"},"modified":"2017-10-25T09:34:58","modified_gmt":"2017-10-24T23:04:58","slug":"neo-report-solar-to-lead-3-7-trillion-charge-as-renewables-outstrip-fossil-fuels","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/neo-report-solar-to-lead-3-7-trillion-charge-as-renewables-outstrip-fossil-fuels\/","title":{"rendered":"NEO report: Solar to lead $3.7 trillion charge as renewables outstrip fossil fuels"},"content":{"rendered":"
\"solar<\/a>

Trillions will be invested in renewables up to 2040<\/p><\/div>\n

The way humans go about getting their electricity is set to change forever, according to an influential report by Bloomberg New Energy Finance. The New Energy Outlook 2015<\/a> (NEO) study, which was handed down last week, also found that solar energy would be at the vanguard of the change towards a more renewable future.<\/p>\n

Solar will gain around US$3.7 trillion worth of funding and generate 14 percent of the world\u2019s electricity by 2040, according to the report. With costs of photovoltaics rapidly decreasing, solar energy is set to account for a third of all new power capacity worldwide.<\/p>\n

“Up to now, small-scale solar investment has been dominated by wealthy countries such as Germany, the US and Japan,\u201d said Jenny Chase, chief solar analyst at Bloomberg New Energy Finance.<\/p>\n

\u201cBy 2040, developing economies will have spent US$1 trillion on small PV systems, in many cases bringing electricity for the first time to remote villages.”<\/p><\/blockquote>\n

But wait there\u2019s more (as they say in the classics). The report claimed that, with more pro-active policy decisions from governments, zero-emission energy could make up to 60 percent of the world\u2019s energy capacity by 2040.<\/p>\n

The NEO report pulls no punches in its findings, citing \u201cmassive shifts\u201d that are taking place to change the way humans go about getting their electricity.\u00a0These include the plummeting price of solar energy which has driven a boom in household solar and will underpin an expected $3.7 trillion in new investment in the solar sector.<\/p>\n

Other key drivers of support for solar are the improvements in energy efficiency, battery storage and growing awareness of climate change. With natural gas losing a great deal of its early promise as a (relatively) environmentally friendly alternative to coal and oil, the focus is shifting more towards solar as a viable alternative, said the NEO.<\/p>\n

Concentrating on the changes to electricity the world is expected to experience in the near future, the NEO report looks at the evolution and revolution in the energy sector. The report takes into account the cost of wind and solar technology, battery storage, electricity demand and consumer dynamics among others.<\/p>\n

Importantly the report expects battery storage to play a major role in energy consumption with this form of energy storage being adopted in increasingly large scale by 2025.<\/p>\n

Yet despite these expected gains, the report still sees coal as playing a big role in energy consumption, to the detriment of climate.<\/p>\n

\u201cWe will see tremendous progress towards a decarbonised power system,\u201d said BNEF chair Michael Liebrich.\u00a0But he added \u201ccoal will continue to play a big part in world power\u2026 unless further radical policy action is taken\u201d.<\/p><\/blockquote>\n

Lead author Seb Henbest said this factor made it unlikely that global warming can be limited to 2 degrees Celsius, the agreed international goal to limit harmful climate change.<\/p>\n

To sum up, the NEO report\u2019s findings show that solar energy is to play a major role in the future of how we access energy. However without some seismic shifts in government policy in a number of countries, we are sailing very close to environmental disaster.<\/p>\n

Sounds familiar?<\/p>\n","protected":false},"excerpt":{"rendered":"

The way humans go about getting their electricity is set to change forever, according to an influential report by Bloomberg New Energy Finance. 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Recognising the impacts of climate change and the need for accelerated action, the company will transition to 100% renewable electricity for all U.S. direct operations by the end of\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Pepsico - renewable electricity","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/pepsico-renewable-energy.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/pepsico-renewable-energy.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/pepsico-renewable-energy.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/pepsico-renewable-energy.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/pepsico-renewable-energy.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":11021,"url":"https:\/\/www.solarquotes.com.au\/blog\/canada-renewables-solar-mb0021\/","url_meta":{"origin":4869,"position":1},"title":"Canada Reaches 66% Renewables Generated Electricity","author":"Michael Bloch","date":"May 4, 2017","format":false,"excerpt":"A new report from Canada's National Energy Board shows the nation generated around two-thirds of its electricity from renewable energy sources in 2015. The renewables-based electricity was primarily from hydro (60\u00a0per\u00a0cent of overall generation), followed by wind (4%), biomass (2%) and solar (.5%). Canada's level of hydro-power output accounted for\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Renewable Energy In Canada","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/05\/canada-renewable-energy.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/05\/canada-renewable-energy.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/05\/canada-renewable-energy.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":16180,"url":"https:\/\/www.solarquotes.com.au\/blog\/nz-renewable-energy-mb0264\/","url_meta":{"origin":4869,"position":2},"title":"100% Renewable Energy For New Zealand By 2035","author":"Michael Bloch","date":"October 26, 2017","format":false,"excerpt":"As part of a deal with the Green Party, New Zealand's new government will accelerate and boost its renewable energy goals. Prior to the deal being struck, Labour had committed to at least 90% of New Zealand's electricity coming from renewable sources by 2025, with \"close to 100%\" being generated\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Renewable energy in New Zealand","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/10\/renewable-energy-new-zealand.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/10\/renewable-energy-new-zealand.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/10\/renewable-energy-new-zealand.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/10\/renewable-energy-new-zealand.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":70611,"url":"https:\/\/www.solarquotes.com.au\/blog\/mildura-sustainability-solar-mb2813\/","url_meta":{"origin":4869,"position":3},"title":"Wind\/Solar Powering Mildura Council Towards Emissions Goals","author":"Michael Bloch","date":"February 2, 2023","format":false,"excerpt":"Mildura Rural City Council's latest sustainability report reveals good progress being made in the organisation's efforts towards net-zero emissions. Released this week, Council's Environmental Sustainability Report 2021 - 2022 outlines related achievements made during the last financial year, which included: Reducing carbon dioxide equivalent (CO2e) emissions by 6,250 tonnes through\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Mildura Rural City Council - solar energy","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/02\/mildura-solar-installation.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/02\/mildura-solar-installation.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/02\/mildura-solar-installation.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/02\/mildura-solar-installation.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/02\/mildura-solar-installation.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":10738,"url":"https:\/\/www.solarquotes.com.au\/blog\/hawaii-solar-renewables-mb0011\/","url_meta":{"origin":4869,"position":4},"title":"Hawaii Hurtles Towards 100% Renewables","author":"Michael Bloch","date":"April 26, 2017","format":false,"excerpt":"26 percent of the electricity used in Hawaii last year came from renewable resources - up from 23 percent in 2015. Hawaii's impressive energy transformation has been a customer-led revolution. On the state\u2019s largest island, Maui, renewable electricity blew past the halfway mark in 2016, reaching 54 per cent compared\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar energy in Hawaii","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/04\/hawaii-solar-renewables.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/04\/hawaii-solar-renewables.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/04\/hawaii-solar-renewables.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":39387,"url":"https:\/\/www.solarquotes.com.au\/blog\/queensland-renewables-coal-mb1505\/","url_meta":{"origin":4869,"position":5},"title":"Queenslanders Want More Renewables, Not Coal Power","author":"Michael Bloch","date":"April 30, 2020","format":false,"excerpt":"A poll of more than 1,000 Queensland residents in late March indicates a strong preference for more renewables over new coal-fired power. Commissioned by Solar Citizens, the QDOS research poll found 78 per cent of respondents would be more likely to support the state government spending on renewable energy generation\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Coal vs. renewables in Queensland","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/coal-renewables-queensland.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/coal-renewables-queensland.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/coal-renewables-queensland.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/coal-renewables-queensland.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/04\/coal-renewables-queensland.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/4869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=4869"}],"version-history":[{"count":4,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/4869\/revisions"}],"predecessor-version":[{"id":4875,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/4869\/revisions\/4875"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=4869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=4869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=4869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}