IRENA’s 11.2 TW RE Target For 2030 Risks Falling Short By 1.5 TW: Report Updated On Tue, Jul 16th, 2024 by Saurenergy Despite renewables becoming the fastest-growing source of power, the International Renewable Energy Agency (IRENA) latest report needs a minimum 16.4% growth rate annually through 2030 to stay on course, to meet the 2030 target. IRENA’s Renewable Energy Statistics 2024 report indicated the possible risk of missing the tripling renewables target pledge set at COP28. The […] Read more
SolarPower Europe Sets Unified Cybersecurity Standards For PV Updated On Mon, Jul 15th, 2024 by Saurenergy Digitalization in the energy sector offers significant opportunities for Europe. It can enhance power plant efficiency and provide flexibility in managing decentralized energy resources. According to SolarPower Europe’s recent report, digital flexibility solutions could potentially save 32 billion EUR by 2030 and 160 billion EUR by 2040. The report aims to establish a unified cybersecurity […] Read more
Global Battery Storage Capacity Set To Reach 2,200 GW By 2050: Report Updated On Mon, Jul 15th, 2024 by Saurenergy BP Energy Outlook 2024 report, reported a rise in global power generation to nearly 25,000 TWh under current projections. This increase is closely paralleled by an approximately eight-fold rise in wind and solar power, reaching 23,000 TWh. The study projects a 40% decline in global coal-fired generation by 2050, with significant decreases expected across most […] Read more
Energy Storage Can Bring 1 TW New Capacity Online By 2033, Finds Study Updated On Tue, Jul 9th, 2024 by Saurenergy Wood Mackenzie, recently forecasted an increase in renewable energy consumption from 2024 to 2033. It expects developers to bring more than 5.4 terawatts (TWac) of new solar and wind capacity online, which can increase the cumulative global total to 8 TWac, according to the latest analysis by Wood Mackenzie. The global data and analytics provider […] Read more
Govt VGF Scheme Can Support 36% Of Offshore Project Cost, Says CRISIL Updated On Thu, Jun 27th, 2024 by Saurenergy The Union Cabinet approval of the viability gap funding (VGF) scheme, with a total allocation of Rs 7,453 crore, is a boost for the offshore wind energy segment. It could trigger investments into a space developers have shied away from due to high cost, operational challenges, and offtake-related risks, according to CRISIL. This is a […] Read more
Data Centers, EV To Raise US Power Demand To 300 TWh: Report Updated On Wed, Jun 26th, 2024 by Saurenergy Rystad Energy in its recent research report found that the total US electricity demand has remained relatively stable at around 4,000 terawatt-hours (TWh) since 2010. But as electrification accelerates, that’s about to change as the report accredits this growth to the build-out of data centers which can support more widespread adoption of electric vehicles (EVs). […] Read more
Power Demand Pushes Battery Makers Revenue By 10-11%: CRISIL Research Updated On Wed, Jun 19th, 2024 by Saurenergy CRISL Rating’s latest report anticipates the domestic lead-acid battery manufacturers’ revenue to grow 10-11% in fiscal 2025. The report found this to be a close mirroring ~12% which was seen last fiscal year. Moreover, growth is expected to be driven by steady demand in the mainstay automotive segment and tailwind from rising 5G penetration, expansion […] Read more
RMI Foresees Cleantech To Drive 10% Of Global GDP Growth Updated On Wed, Jun 19th, 2024 by Saurenergy The Rocky Mountain Institute (RMI), a US-based research organization, has recently published a report forecasting significant growth in the cleantech sector. According to the report, solar energy installations are expected to reach 1,000 GW annually, accompanied by sales of 6,000 GWh of batteries per year. These advancements are crucial in achieving the sector’s goal of […] Read more
Despite Record Investments, World Off Track For 2030 RE Target: EY Updated On Wed, Jun 19th, 2024 by Saurenergy Global accounting firm Ernst & Young (EY) recently reported a decline in overall global energy investments, failing to keep the world on track for the 2030 renewables targets. EY report found that, despite last year’s surge of US$1.8 trillion in clean energy investment, including US$660 billion earmarked for renewables, investment remains below the COP28 target of […] Read more
