Business Maverick: World Added More Solar, Wind Than Anything Else Last Year

Solar additions last year totaled 119 gigawatts, representing 45% of all new capacity, according to a report Tuesday by BloombergNEF. Together, solar and wind accounted for more than two-thirds of the additions. That’s up from less than a quarter in 2010. The surge comes as countries move to slash carbon emissions and as technology costs fall.“That is a big deal,” said Luiza Demoro, a Brazil-based BNEF analyst. “It shows that we are going in a good direction. It’s good for the climate.

In terms of total power produced, renewables technologies including hydro last year accounted for 27% last year, up from 20% in 2010, according to the report.Global installations of natural gas-fired power — which in 2010 was the No. 1 technology installed in more than one-third of the world — fell to a 10-year low in 2019. Meanwhile, 81 countries installed at least 1 megawatt of solar last year, with China and India being the top markets for new capacity.

“This is a good start, but it’s not enough in the long run,” Demoro said in an interview. “Coal still represents a big share — 29% of installed capacity globally, and 35% of all the power produced last year. There is a lot of work to be done to replace that capacity.”

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS MAVERICK: Dread disease cover has become more critical than everCritical illness cover or dread disease insurance is a lump-sum cover that pays out on the diagnosis of a severe ailment such as cancer or heart disease. It is a risk-benefit that has only been available since the 1980s, but has grown in relevance as people are living much longer than in the past. Yet the uptake has been less prominent.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: BP to Sell London Headquarters as Work Style Shifts: TimesBP Plc plans to sell its headquarters in central London as it cuts jobs and adopts flexible working, The Times reported on Sunday.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: Absa PMI perks up in August, but suggests manufacturing jobs are still being shedThe August reading for the widely watched Absa Purchasing Managers Index is the latest data set to suggest a rebound in economic activity since the second quarter crash from April until the end of June. Worryingly, it indicates that manufacturing jobs are still being shed.
Source: dailymaverick - 🏆 3. / 84 Read more »