The cost competitiveness of these technologies varies significantly across regions, but overall, renewables are on track to overtake traditional fossil fuel sources. Wood Mackenzie has released five regional Levelised Cost of Electricity (LCOE) reports for 2024, which provide an in-depth analysis of the evolving electricity cost landscape across global markets. These reports, covering Asia Pacific … Continue reading Global LCOE (levelized cost of electricity) competitiveness of wind power and photovoltaic (PV) is increasing
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US 2023 photovoltaic, wind power, geothermal output up 200% from 2014
15 states had at least 30% power from renewables in 2023. Southeastern US sees surge in photovoltaic generation. The US generated about three times as much electricity from solar, wind and geothermal resources in 2023 than it did in 2014, a decade-long stretch that also saw the percentage of national retail power sales from these … Continue reading US 2023 photovoltaic, wind power, geothermal output up 200% from 2014
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Highest investment period boosts Iberdrola’s results to record levels
Strong operations underpin growth Increased financial strength Shareholder remuneration: record interim dividend: €0.23 per share, an increase of 14%. Record market capitalisation: Record stock market capitalisation highs (close to €90 billion). Improvement in year-end forecasts: 14% increase in full-year net profit, in line with the growth of the interim dividend. Accelerating the Strategic Plan and seizing … Continue reading Highest investment period boosts Iberdrola’s results to record levels
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ACP Statement on Massachusetts Legislation to Advance Offshore Wind and Energy Storage
The American Clean Power Association (ACP) released the following statement from Moira Cyphers, ACP Director for Atlantic Offshore & Eastern State Affairs after comprehensive legislation was introduced in Massachusetts enhancing clean energy deployment. Key features include a major overhaul of energy infrastructure permitting, increased support for renewable sources like wind, solar, and expanded battery storage: … Continue reading ACP Statement on Massachusetts Legislation to Advance Offshore Wind and Energy Storage
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EIB and Iberdrola sign 120 million loan for energy innovation projects in Spain
The European Investment Bank (EIB) today signed a EUR 120 million loan with Iberdrola to finance the development of energy technology research and innovation projects aimed at contributing to and accelerating the electrification and decarbonisation of the economy. The total investment associated with the project will be €250 million. The EIB funding will be used … Continue reading EIB and Iberdrola sign 120 million loan for energy innovation projects in Spain
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Photovoltaic and wind power in the third week of October
European electricity market prices rise in the third week of October due to lower renewable energy production and higher demand. In the third week of October, prices in the main European electricity markets remained at similar levels to those observed during the month. Most markets registered higher weekly averages than those of the previous week, … Continue reading Photovoltaic and wind power in the third week of October
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Türkiye aims to increase wind energy and photovoltaic
Türkiye is setting ambitious goals for its energy sector, with plans to raise the share of renewable energy in electricity production to 47.8% by 2025, according to the Ministry of Energy and Natural Resources’ 2025 budget proposal. The ministry also targets a reduction in natural gas’s contribution to electricity production to 18.9%.Expansion of renewable energy … Continue reading Türkiye aims to increase wind energy and photovoltaic
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Clean energy: The biggest opportunity on the planet
In the little over four years since Ember launched, the global energy landscape has undergone a seismic shift. And with that, so too must the way we talk about the energy transition. What follows is a reflection on how our thinking has evolved – and why we’re more energised than ever about what’s coming next. … Continue reading Clean energy: The biggest opportunity on the planet
Continue readingClean Energy Industries Rally Behind Illinois Bills to Save Ratepayers $3 Billion Through Grid Modernization
Illinois clean energy industries are unified in supporting HB5856 and SB3959, new legislation that will future-proof Illinois’ energy grid and economy, lower consumer costs, meet climate goals, create family-sustaining careers, and mitigate increasing risks of blackouts. “Clean energy is the future, and it’s my duty to work toward that future for the benefit of all … Continue reading Clean Energy Industries Rally Behind Illinois Bills to Save Ratepayers $3 Billion Through Grid Modernization
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Geopolitical tensions are laying bare fragilities in the global energy system, reinforcing need for faster expansion of photovoltaic and wind energy
World Energy Outlook 2024 shows critical choices facing governments and consumers as period of more ample supplies nears and surging electricity demand reshapes energy security Regional conflicts and geopolitical strains are highlighting significant fragilities in today’s global energy system, making clear the need for stronger policies and greater investments to accelerate and expand the transition … Continue reading Geopolitical tensions are laying bare fragilities in the global energy system, reinforcing need for faster expansion of photovoltaic and wind energy
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The combined accumulated power of wind and photovoltaic energy grows by 12.7% in 2023 in Spain
Wind power, solar photovoltaic and concentrated solar power (CSP) sources reached a combined accumulated power of 59,106 megawatts (MW) in 2023, which represents an increase of 12.7% compared to the previous year, according to the DBK Sector Observatory of Informa, a subsidiary of Cesce.The study reflects that in 2023 the upward trend in installed renewable … Continue reading The combined accumulated power of wind and photovoltaic energy grows by 12.7% in 2023 in Spain
Continue readingThe recovery of wind energy production in Europe in the second week of October favors the price fall in the electricity markets
In the second week of October, wind energy production in most major European markets recovered after the previous week’s falls, favoring weekly price declines in most electricity markets. On an hourly basis, some markets registered negative prices, while others registered the highest prices since at least February 2024. In Italy, photovoltaic energy production reached a … Continue reading The recovery of wind energy production in Europe in the second week of October favors the price fall in the electricity markets
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Celsia will put into operation the first battery system connected to a photovoltaic plant
In the next few weeks, the first photovoltaic energy storage system in Colombia with lithium, iron and phosphate batteries will begin to operate. It will be located at the Celsia Solar Palmira 2 plant.This storage system will allow for clean and renewable energy at night, when due to the absence of sunlight, plants of this … Continue reading Celsia will put into operation the first battery system connected to a photovoltaic plant
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Galán confirms Iberdrola’s commitment to the UK at the International Investment Summit with Starmer
Iberdrola is consolidating its position as one of the major companies in the United Kingdom, and its Executive Chairman Ignacio Galán, in the context of the new British government’s first international investment summit, met with the country’s Prime Minister, Keir Starmer, and other members of the Government to present the electricity company’s new roadmap in the … Continue reading Galán confirms Iberdrola’s commitment to the UK at the International Investment Summit with Starmer
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Ecuador needs to boost photovoltaic and wind power to reduce dependence on hydroelectric energy
Renewable energies, such as solar photovoltaic, wind, hydroelectric, geothermal and biomass, lead the energy transformation worldwide. The main objective is to reduce dependence on fossil fuels and mitigate environmental impact. Diversification is key. According to data from the National Electricity Operator (Cenace), 72% of Ecuador’s energy depends on water. This dependence has led to the … Continue reading Ecuador needs to boost photovoltaic and wind power to reduce dependence on hydroelectric energy
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Electricity distributed by Iberdrola reaches all-time highs
Iberdrola’s distributed electricity has reached an all-time high, registering 177,943 GWh in the first nine months, an increase of 2.5% compared to the same period last year. The good performance in electricity distribution was driven by the recovery of electricity demand in all the markets where the company is present. To respond to this increase … Continue reading Electricity distributed by Iberdrola reaches all-time highs
Continue readingGlobal Goal of Tripling Renewables Needs USD 1.5 Trillion Investment Per Year
Official tracking report of UAE Consensus energy goals confirms significant gaps in progress towards tripling renewables and doubling energy efficiency by 2030; recommends priority actions and dramatic scale of investment for next round of NDCs. Despite an unprecedented acceleration in renewable energy deployment in 2023, progress falls short to triple renewables by 2030. Current national … Continue reading Global Goal of Tripling Renewables Needs USD 1.5 Trillion Investment Per Year
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Ørsted has completed 600 MW combined photovoltaic (PV) and battery storage project in the US
With a 300 MW solar photovoltaic (PV) capacity, Ørsted’s Eleven Mile Solar Center will produce enough renewable energy to power 65,000 US homes while the battery can store 1200 MWh of power. Ørsted celebrated the official commissioning of the Eleven Mile Solar Center in Pinal County near Phoenix, Arizona. The 300 MW solar farm and … Continue reading Ørsted has completed 600 MW combined photovoltaic (PV) and battery storage project in the US
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Energy storage, essential for photovoltaics and wind power, is a solved problem
There are thousands of extraordinarily good pumped hydro storage sites around the world with an extraordinarily low investment cost. When combined with batteries, the resulting hybrid system has large energy storage, low cost for both energy and power, and fast response. Storage is a solved problem. In 2023, twice as much solar generation capacity was … Continue reading Energy storage, essential for photovoltaics and wind power, is a solved problem
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Photovoltaic and wind energy in the first week of October
In the first week of October, TTF gas futures prices for the Front?Month rose, reaching the highest settlement price since early December, above €40/MWh, on Friday, October 4. Rising gas prices, together with declining renewable energy production and rising demand in most markets, boosted prices in most European electricity markets. Photovoltaic energy reached production records … Continue reading Photovoltaic and wind energy in the first week of October
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