The new IPCC report found the costs of renewable energy sources—solar and wind energy, plus storage batteries–have fallen drastically, making them more competitive with gas and coal (and in some cases, cheaper). Since 2010, they have shown “sustained decreases of up to 85%,” according to the report. Between 2010 and 2019, the cost of solar energy plummeted by 85%, wind energy by 55% and lithium-ion batteries by 85%. More affordable renewals should help lower the cost barriers associated with transitioning away from fossil fuels.
The report found a combination of reducing greenhouse gas emissions, adopting innovative technology that prioritises renewable energy, as well as using carbon capture and storage will be necessary to meet climate goals. Land use changes in agriculture and forestry can help remove carbon from the atmosphere, but those alone won’t be enough without significant emissions cuts across sectors, the report added.
India at risk of missing 2022 RE target
Disruptions following from the global pandemic and persistent supply chain disruptions that have hit logistics hard are likely to cause India to miss its 2022 target of installing 175 GW of renewable energy capacity by the end of the year, according to latest estimates provided by Bloomberg NEF. Structural problems that have manifested in financial distress among power producers and suppliers have scuppered India’s march towards energy decarbonisation, says the assessment, as several projects auctioned by the central government struggle to find buyers. The issue seems more protracted in some parts of the country than others as states such as Uttar Pradesh, Uttarakhand, Haryana and Punjab struggle to add to their renewable capacities, which currently lag far behind their targets.
Anti-dumping duty likely on Chinese fluoro backsheet imports
The government is likely to impose an anti-dumping duty on the Chinese imports of flour backsheet. The Director General of Trade remedies (DGTR) launched the anti-dumping probe after the Indian module manufacturer RenewSys India complained saying Chinese flouro backsheet is similar to what is made in India. The probe revealed that the material was exported to India at a price below the normal value resulting in dumping at a large margin, Mercom reported. DGTR said the domestic industry was running into losses during the period of the probe.
IEEFA: Solar plants to charge EVs is better use of land than growing ethanol crops for blended fuel
According to a new report by IEEFA, generating solar power to recharge electric vehicles is a better use of land than using it to grow crops of ethanol. India has set a target of blending 20% ethanol by 2025. The report showed that matching the distance driven by EVs recharged from one hectare of solar generation would require ethanol derived from up to 251 hectare of sugar cane or 187 hectares of maize—even if one includes losses from electric transmission, battery charging and grid storage.