BRUSSELS, Belgium, November 18, 2023 (Maximpact.com Sustainability News) – The European Commission has approved a €3 billion Austrian plan to support companies facing soaring energy costs due to Russia’s war against Ukraine. Solar photovoltaic capacity, both large utility-scale and small distributed systems, accounts for two-thirds of this year’s projected increase in global renewable capacity.
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PARIS, France, June 25, 2023 (Maximpact.com Sustainability News) – US$ 2.8 trillion is set to be invested globally in energy in 2023 – a record amount. And US$ 1.7 trillion of that, more than half the total, is expected to go into clean energy technologies, with solar power set to eclipse oil production for the first time, finds the latest World Energy Investment report from the International Energy Agency (IEA).
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PARIS, France, January 14, 2023 (Maximpact.com Sustainability News) – Energy consumption and greenhouse gas emissions in European buildings and construction have ballooned to an all-time high from lower levels during the worst of the COVID-19 pandemic. In 2021, this economic sector accounted for over 34 percent of energy demand and 37 percent of energy and process-related CO2 emissions – now the European Union is urgently activating a new strategy.
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The transition to renewable energy in support of sustainable development goals and climate action is picking up speed around the world. With new urgency, the International Energy Agency, IEA, is calling for an end to exploration for fossil fuels – coal, oil and natural gas.
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Efforts to shift away from fossil fuels and replace oil and coal with renewable energy sources can help reduce carbon emissions but they do so at the expense of increased inequality, according to a new study from Portland State University.
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Government ministers, top business executives and thought leaders from around the world have been named to a new high-level global commission on ways to rapidly accelerate progress on energy efficiency through new and stronger policy action.
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“Energy investments now face unprecedented uncertainties, with shifts in markets, policies and technologies,” said Dr. Fatih Birol, executive director of the International Energy Agency. “But the bottom line is that the world is not investing enough in traditional elements of supply to maintain today’s consumption patterns, nor is it investing enough in cleaner energy technologies to change course.”a
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Solar is already the world’s fastest-growing power generation source, and the future looks bright for the widescale adoption of solar power. As this decade nears a close, the national trade association for the U.S. solar industry has designated the next decade The Solar+ Decade.
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“Energy efficiency is the single most effective strategy for reducing carbon emissions,” the Washington, DC-based nonprofit Alliance to Save Energy told a congressional hearing on climate change earlier this year. The group urged lawmakers to prioritize energy efficiency to stabilize the warming climate.
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China has decided to develop and implement carbon capture and storage (CCS) on a massive scale. But there is a problem. The process of capturing carbon can lead to the formation of carcinogenic chemicals.
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“Mobilising energy efficiency is an urgent priority,” says Fatih Birol, executive director of the International Energy Agency. “To transition to the sustainable energy system of the future, we need to decouple economic growth from greenhouse gas emissions. Energy efficiency is the most important “arrow in the quiver” to achieve this,” writes the Turkish economist and energy expert in the IEA’s new Market Report.
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