Tripling Global Renewables By 2030 Is Hard, Achievable and Necessary to Achieve Net Zero
Tripling global renewables capacity by 2030, as proposed by the COP28 Presidency, is in line with the 10.5 terawatts required to get on track for net-zero according to BloombergNEF analysis BNEF’s forecasts see solar on track for what’s needed by 2030, while wind and storage will require concerted action to unlock London, November 21, 2023 […]
G-20 Member States More Than Doubled Fossil-Fuel Support in 2022 to $1.3 Trillion
Read the full factbook here New York, November 21, 2023 – Governments and state-owned companies in the 19 individual G-20 member states provided $1.3 trillion of support for fossil fuels last year, according to a new report produced by research provider BloombergNEF (BNEF) in partnership with Bloomberg Philanthropies. Much of the increase came as a […]
Vietnam Power Sector Needs More Renewables to Achieve Decarbonization Goals: Report
BloombergNEF: Renewable energy can meet Vietnam’s growing electricity demand without compromising energy security and affordability Utility-scale solar is already the cheapest source of electricity in Vietnam, and the country has great potential for developing offshore wind power Singapore, October 23, 2023 – Vietnam’s long-term goal to phase out the use of coal for power generation […]
Solar Soon to be the Most Affordable Electricity Source for Bangladesh: Report
BloombergNEF: Renewable energy provides the cheapest option for Bangladesh to meet its growing electricity demand while reducing emissions Singapore, September 25, 2023 – Bangladesh’s heavy reliance on fossil-fuel thermal power plants has reduced the country’s energy security, while draining its foreign curreny reserves and increasing local pollution. In addition, further expansion of fossil-fuel thermal power […]
Faster Deployment of Clean Power Such as Solar, Wind and EVs Can Enable India to Peak Emissions Before 2030
BloombergNEF: Accelerated deployment of clean technologies is essential if India is to reach its 2047 AatmaNirbhar Bharat energy independence goal. BNEF report shows that India can dramatically reduce fossil fuel imports, while strengthening energy access. This is the cheapest way for the country to increase electricity access while decarbonizing its power supply. BNEF’s least-cost modeling […]
Global Clean Energy Revenues From Listed Firms Hit $2.56 Trillion in 2022
• Total is equivalent to 2.6% of GDP, shows analysis of BNEF Clean Energy Exposure Ratings • Power utilities and renewable manufacturers and developers account for two-thirds of the total • Top global equity indices are less than 5% exposed on a portfolio-weighted revenue basis (London, UK), 10 August 2023 — In 2022, clean energy […]
Report Shows That Inflation Reduction Act Alone Won’t Set United States on Track for Net Zero
BloombergNEF: The Inflation Reduction Act gets the US closer to net zero, with renewables, carbon capture, and electrification leading the way – but more action is needed. ● Landmark climate bill gets the country closer to net zero, according to BNEF modeling. Provisions under the Inflation Reduction Act could result in a 40% drop in […]
Japan Can Meet Net-Zero Goal With Minimal Reliance on Hydrogen, Report Shows
BloombergNEF: Japan can achieve net-zero emissions by 2050 while strengthening its energy security ● Japan can achieve its 2050 net-zero goal, while strengthening its energy security, without the need to rely on costly technologies, such as ammonia coal co-firing. ● Accelerated deployment of mature clean technologies such as solar, wind and electric vehicles is the […]
Electric Vehicle Fleet Set to Hit 100 Million by 2026, but Stronger Push Needed to Stay on Track for Net Zero
BloombergNEF: Urgent policy action needed on heavy commercial vehicles, streamlining charging infrastructure, and building out the battery supply chain London and New York, June 8, 2023 – EV adoption is set to soar in the coming years, with over 100 million passenger EVs expected on the roads by 2026 and over 700 million by 2040, […]
Cost of Clean Energy Technologies Drop as Expensive Debt Offset by Cooling Commodity Prices
London and New York, June 7, 2023 – The costs of wind power and battery energy storage projects have come down from levels seen in 2022, at the height of global supply chain constraints and the impacts of the Ukraine war. The industry still faces challenges as central banks continue to raise rates and some […]