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Brazil To Triple Funding For Renewable Energy
6/11/2013 3:22:10 PM | Joao Peixe, Oilprice.com As well as biofuel research Brazil has one of the largest, fastest growing economies in the world, and also some of the largest offshore oil reserves in the word. However, rather than relying on that oil to fuel its economic growth it has decided to focus on renewable energies and biofuel. The Brazilian government has announced that it will spend $2.85 billion on renewable energy and biofuel research and development, hoping that the new energy sources and technology will bring its energy industry into the modern age, and help it cut its carbon emissions. Alexandre Tanaka, from Financiadora de Estudos e Projetos (FINEP) a Brazilian research and finance agency, told Bloomberg that the President Dilma Rouseff wants to triple the funds available to innovative technology companies, as the country attempts to become a supplier of quality energy technology and processes, as opposed to purchasing from other countries. Under a new government program aimed at encouraging development in innovative technology, FINEP and the Brazilian Development Bank (BNDES) will provide loans to any companies working on renewable energy or biofuel research at rates as low as 3.5%. Mark Kenber, CEO of The Climate Group, said that the “government investment to support innovation in clean energy technology will drive job creation and offer green investors incentives and stability, which will help Brazil compete with in the fast expanding clean energy markets around the world. Brazil has huge potential to lead the global clean revolution, and with plans like these it looks like the nation is now ready to kick-start such efforts.” http://oilprice.com/…l-Research.html Read more at http://www.stockhous…QSCZO5VQWQzM.99 Continue reading
UN: Developing Nations Leading Renewables Investment
By Ed King Investment in renewable energy projects in developing countries increased in 2012, despite a small global decline in back for wind and solar projects, the UN Environment Programme (UNEP) has revealed. Today it released two reports on the state of the renewable sector, the REN21′s Renewables Global Status Report (GSR) and Global Trends in Renewable Energy Investment 2013. They confirmed overall investment in renewables was $244 billion, a 12% drop on 2011, which the studies attribute to policy uncertainty in industrialised countries. Total power capacity increased by 8.5%, while the deployment of wind and solar installations broke new records, despite falls in overall funding. But while the US and Germany experienced significant dips in investment, there were sharp increases in China, South Africa, Mexico, Kenya and the Middle East. Installed wind capacity hit a new record of 48.4GW, up from 42.1GW in 2011, although investment fell 10% China consolidated its position as the world’s leading renewables market, with solar investment largely responsible for a 22% lead to $67 billion of investment. Small-scale solar in Japan also drove an astonishing 73% increase in investment, worth $16 billion. Despite the ongoing financial crisis, both reports highlight the strong position of the clean energy sector, which has seen $1.3 trillion injected since 2006, and now employs 5.7 million around the world. “This should be a source of inspiration for governments, cities, companies and citizens everywhere to raise their ambition towards climate action,” said UN Secretary General Ban Ki Moon. “A global climate agreement by 2015 would provide dramatic spur in the direction we need to travel.” UN climate chief Christiana Figueres, who has endured a difficult second week of international negitiations in Bonn, said the figures provide a welcome boost. “Driven in part by the UNFCCC process and various provisions and mechanisms of the Kyoto Protocol, the increasing deployment of wind, solar, geothermal and other clean energy power sources serve as a powerful antidote to those who claim that a transition to a low-carbon, resource-efficient future is unobtainable,” she said. Critically, costs of renewables continue to fall. Solar PV systems are down 30-40% on 2011 prices, while onshore turbines have fallen “by a few percentage points”. “It is encouraging that renewable energy investment has exceeded $200 billion for the third successive year, that emerging economies are playing a larger and larger part, and that the cost-competitiveness of solar and wind power is improving all the time,” said Michael Liebreich, Chief Executive, Bloomberg New Energy Finance. “What remains daunting is that the world has hardly scratched the surface – CO2 emissions are still on a firm upward trend and there was still nearly $150 billion of net investment in new fossil-fuel generating assets in 2012.” Continue reading
UN: Global Renewables Sector Tops 5.7 Million Jobs
New reports confirm renewable energy market stalled last year as technology costs fell, but emerging economies promise to drive growth By James Murray 12 Jun 2013 The UN Environment Programme (UNEP) has today confirmed global investment in renewable energy slowed down last year, even as deployment in key technologies and markets continued to accelerate. The agency has this afternoon published two major reports on progress in the renewables industry , which echo previous studies showing investment fell 12 per cent last year to $244bn, primarily as a result of the drastic fall in the cost of solar and wind power and policy uncertainty in several industrialised nations. Despite the investment slowdown, the reports stressed that the general trend for the industry was encouraging, noting that $1.6tr has been invested in renewables since 2006, 2012 marked the third consecutive year investment comfortably topped $200m, and that the sector now employs 5.7 million people globally. The data also confirms once again that investment in new renewables capacity topped investment in new fossil fuel generation capacity. The reports also demonstrated that the slowdown in investment had not been matched by a slowdown in deployment, due to the fact solar prices fell by 30 to 40 per cent, while wind energy costs also saw more modest falls. As a result solar installations hit a new record of 30.5GW, while wind energy capacity deployment rose from 42.1GW in 2011 to 48.4GW last year. “The uptake of renewable energies continues world-wide as countries, companies and communities seize the linkages between low carbon Green Economies and a future of energy access and security, sustainable livelihoods and a stabilized climate,” said UNEP executive director Achim Steiner, in a statement. “There has been a dramatic increase in number and size of projects. There have also been sharp falls in manufacturing costs and in the selling prices of wind turbines and photovoltaic panels, contributing to a shake-out in the industry in 2012. This is not only normal in a rapidly growing, high tech industry but is likely to lead to even more competition, with even bigger gains for consumers, the climate and wider sustainability opportunities.” Last year also saw a sharp shift in the make-up of the global market, with investment in emerging economies nearly matching that found in industrialised nations for the first time. According to the Global Trends and Global Status reports, investment in renewables in the so-called Global South topped $112bn while investment in developed nations reached $132bn. The spread of investment is in stark contrast to five years ago when industrialised nations invested 2.5 times more in renewables, excluding large hydro, than developing countries. The reports also noted that 138 countries now boast renewable energy targets or targets, two thirds of which are in developing countries. Moreover, China further cemented its position as the world’s leading renewable energy market last year as investment rose 22 per cent to $67bn. The report comes in the same week as the International Energy Agency (IEA) reported that China saw one of the lowest increases in its greenhouse gas emissions in 20 years last year as a result of investment in energy efficiency and renewables. However, while sharp increases in renewables investment were recorded in Africa, the Middle East and parts of South America, the UNEP reports also confirmed significant slowdowns in the US and Germany where investment fell 34 per cent and 35 per cent, respectively. Investment in Japan bucked the trend, climbing 73 per cent to $16bn on the introduction of new renewable energy subsidies, but the bulk of industrialised countries saw investment stall as a result of policy uncertainty and falling technology costs. Michael Liebreich, chief executive of Bloomberg New Energy Finance , which contributed to the reports, said the research demonstrated the continued strength of the global renewables industry, but he warned a step change in investment would still be required if the world is to meet its climate change targets. “It is encouraging that renewable energy investment has exceeded $200bn for the third successive year, that emerging economies are playing a larger and larger part, and that the cost-competitiveness of solar and wind power is improving all the time,” he said. “What remains daunting is that the world has hardly scratched the surface – CO2 emissions are still on a firm upward trend and there was still nearly $150bn of net investment in new fossil-fuel generating assets in 2012.” Continue reading
