Tag: clean energy transition

Fossil Fuel Subsidies in Clean Energy: IEA Report

Fossil Fuel Subsidies in Clean Energy: IEA Report

March 9, 2023 | ,

The IEA has long described fossil fuel subsidies as a ‘roadblock’ on the pathway to clean energy systems and provided data and advice to support their removal. The methodology is a “price gap approach” where a market reference price is established and then compare it with the price paid by consumers. When the end-user price is lower than the reference price, it is counted as a subsidy. The analysis underscores that adding a carbon price to the reference price is more likely to reveal fossil fuel consumption subsidies, even though are no agreed standards for carbon pricing.

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EU climate foreign policy in 2023: Briefing

EU climate foreign policy in 2023: Briefing

February 1, 2023 | ,

The EU has a key role to play in driving the global climate transition. To do so, the EU needs a strong mandate for climate foreign policy that addresses the current polycrisis environment. The EU’s call for a global coal phase-out, coming out of the 2021 Foreign Affairs Council (FAC), paved the way for a global coal phase-down commitment at the climate conference COP26. However, this year’s climate diplomacy EU Foreign Affairs Council takes place in a different context.

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U.S. energy transition powered forward in 2022

U.S. energy transition powered forward in 2022

January 12, 2023 |

Renewable power made significant gains in the U.S. in 2022, new data from the Energy Information Administration’s Hourly Grid Monitor shows. After two years of disruptions from the COVID-19 pandemic, and turmoil in energy markets after Russia’s invasion of Ukraine in February, the rapid progress of the renewable transition came into focus in 2022. The growing market share of utility-scale solar, wind, and hydro generation is clearly seen at a daily level.

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How does Indonesia’s JETP compare to net zero pathways?

How does Indonesia’s JETP compare to net zero pathways?

November 23, 2022 |

The Indonesian JETP raises the country’s ambition for power sector decarbonisation and closely aligns to a pathway that delivers Indonesia’s target of net zero by 2060. At the G20 summit in Bali – and on the same day as COP27’s Energy Day – Indonesia announced its ‘Just Energy Transition Partnership’ (or JETP). The groundbreaking deal secures $20bn funding from the US, Japan and others to help Indonesia accelerate the transition from coal to clean electricity.

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Unpacking COP27: finance, fossils, climate impacts

Unpacking COP27: finance, fossils, climate impacts

November 23, 2022 |

After two-and-bit weeks of negotiations, the outcome of COP27 includes some firm steps forward on climate action. A historic loss and damage fund for responding to escalating climate impacts, renewable energy singled out as the route to addressing the energy crisis, and strong calls to reform international finance institutions to unlock more finance and fiscal space for climate action – along the lines of Barbadian PM Mottley’s Bridgetown Initiative – demonstrate climate collaboration in the face of turbulent geopolitics.

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After Ukraine – The Great Clean Energy Acceleration

After Ukraine – The Great Clean Energy Acceleration

October 6, 2022 |

What was once disparagingly called “alternative energy” really does now present an alternative. From now on all three elements of the energy trilemma – security, affordability and sustainability – are pushing in the same direction. We face some very difficult years, there is no question. But as we get through them, things are going to start moving extremely fast. The Great Energy Price Spike is going to give way to the Great Clean Energy Acceleration.

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UAE’s DEWA Unveils New Smart Grid Strategy: A transition towards clean energy

UAE’s DEWA Unveils New Smart Grid Strategy: A transition towards clean energy

September 14, 2022 |

DEWA recently updated the smart grid strategy to move ahead with the medium- and long-term objectives under the latest Smart Grid Strategy 2021-2035, which envisages investments to the tune of AED7 billion. The new plan also supports the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Emissions Strategy 2050 to provide 100 per cent of the energy production capacity from clean energy sources by 2050.

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Clean Energy for EU Islands: Handbook

Clean Energy for EU Islands: Handbook

August 23, 2022 | ,

The EXPLORE part addresses islands that are just starting their clean energy transition. The SHAPE part aims to bring forward the potential solutions suggested in the CETA to shape them into a pipeline of bankable clean energy projects. The ACT part focuses on further developing the projects so that they are ready to be implemented on the ground.

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Making net-zero happen: How China can finance its transition

Making net-zero happen: How China can finance its transition

July 24, 2022 |

To achieve its ambitious carbon peak and carbon neutrality goals, China needs to close an annual funding gap of about RMB1.1 trillion ($170 billion). It can only do so if it manages to develop far more sophisticated green financing schemes. In China, bank lending is the backbone of corporate finance. Due to their risk-averse nature, banks tend to target large state-owned and private enterprises, meaning SMEs (small, medium enterprises) miss out on the funding — despite accounting for 65% of the country’s CO2 emissions.

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Norway’s Energy Policy Review: IEA Report

Norway’s Energy Policy Review: IEA Report

July 14, 2022 | ,

Norway has many natural advantages to facilitate a successful energy and climate transition. In particular, it can be well-positioned to lead the world on new technologies for decarbonising hard-to-abate sectors, such as electric vehicles, carbon capture and storage, and hydrogen, if the right policies and incentives are put in place. In this report, the IEA provides energy policy recommendations to help Norway effectively manage the transformation of its energy sector in line with its goals.

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Chile Decarbonisation Plans: Focus on grid modernisation and digitisation

Chile Decarbonisation Plans: Focus on grid modernisation and digitisation

July 13, 2022 |

Chile has set a target of providing carbon neutral electricity by 2050 and aims to retire its 28 installed coal projects with a cumulative capacity of over 5,529 MW by 2040. As per PELP, 81.6 GW of new generation capacity will be added during 2022–50, entirely based on renewables, including 6.6 GW of storage capacity. However, the withdrawal of coal-fired plants and insertion of renewables bring several challenges for the grid.

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US Utility Executive Survey

US Utility Executive Survey

July 6, 2022 | ,

Leaders must steer their organizations through a minefield of changes and disruptions. How can they prioritize investments and initiatives as they look to deliver clean, just, and predictable energy in the years to come? The survey prepared by ICF answers pressing questions from nearly 200 utility executives—uncovering pain points and opportunities for utilities to get ahead.

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Ensuring an Inclusive Clean Energy Transition: Report by RMI

Ensuring an Inclusive Clean Energy Transition: Report by RMI

May 26, 2022 | ,

Climate policy that is effective and durable must comprehensively address these social and economic challenges. The framework presented here can help federal and state policymakers to design and implement comprehensive climate policy that works for communities affected by the energy transition — and equip advocates to fight for strong policies. Comprehensive policies can help create a healthy and thriving clean energy economy for all.

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Renewable energy transition takes off in the US

Renewable energy transition takes off in the US

April 21, 2022 |

IEEFA predicted last year that wind, solar and hydro’s share of the U.S. electric power market would approach 30 percent by the end of 2026. IEEFA now believes the forecast reflected the low end of possible growth, given the significant acceleration in expected solar and wind (particularly offshore) capacity installations through 2026. We now expect that clean energy’s share of the electric generation market could hit 33 percent or more.

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Industry must play its role in getting the EU off fossil gas

Industry must play its role in getting the EU off fossil gas

March 31, 2022 |

Russia’s invasion of Ukraine has once more exposed the EU’s vulnerability in relying on fossil fuels to heat our homes, power our cars and fuel our industries. While heavy industry is a major consumer of fossil gas, it has been notably absent in the emerging EU strategy to rapidly get off Russian gas. The EU needs to act now, maximising short-term gas savings in industry and ensuring the Fit for 55 package sends the right policy signals to substantially reduce gas dependency in the next 10 years.

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Just Transition in Africa: Report

Just Transition in Africa: Report

March 15, 2022 | ,

This report reveals the scale of financial support provided by commercial banks, development finance institutions, and export credit agencies that flowed to the fossil fuel industry in West, Central, East, and Southern Africa between 2016 and June 2017. The vast majority of this finance came from financial institutions based outside Africa, both commercial banks and public finance institutions like development banks and export credit agencies.

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Germany and International Support for the Clean Energy Transition

Germany and International Support for the Clean Energy Transition

February 8, 2022 | ,

At COP26 in Glasgow, the German government signed the Statement on International Public Support for the Clean Energy Transition, calling on signatories to end the financing of unabated fossil fuels abroad through public funds by the end of 2022. At the same time, green investments should be significantly scaled up in order to drive forward the energy transition, especially in emerging and developing countries.

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Key indicators for the clean energy transition

Key indicators for the clean energy transition

January 7, 2022 | , ,

This webinar on “Benchmarking Scenario Comparisons: Key indicators for the clean energy transition” discussed the main findings from the recently-published collaborative report (of the same name) between IRENA and the European Commission’s Joint Research Centre (JRC), which highlights the motivation, focus and methods of 14 scenario comparison studies, synthesizing experts’ views on how to improve such studies to gain insights for the clean energy transition.

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How can China help South Africa achieve a just transition?

How can China help South Africa achieve a just transition?

December 15, 2021 |

Africa is looking at China’s presence in energy on the continent with hope for a just transition. On 22 September, speaking at the UN General Assembly, China’s president, Xi Jinping, announced China would provide strong support for green transitions in developing nations and stop building coal power overseas. What is a just transition, and why is it important for climate governance in Africa and future China–Africa cooperation on renewables?

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