Policies favoring clean energy and increased competition would normally dim prospects for existing producers. Not in Chile, where foreign investors are driving a renewable boom at a time of surging returns by local utilities.

Bonds backing clean energy and other sustainable initiatives are booming. Investors are snapping up green bonds at the fastest pace on record, as big banks like Morgan Stanley and Bank of America Corp. pile in with new issuance to feed the growing appetite for socially responsible investments.

Long-frustrated wind and solar developers in Australia can now get to work on more than A$14 billion ($11 billion) in projects after a new renewable energy target passed parliament.

Executives from 13 major U.S. corporations are announcing at least $140 billion in new investments to decrease their carbon footprints as part of a White House initiative to recruit private commitments ahead of a United Nations climate-change summit later this year in Paris.

Companies including Apple Inc., Berkshire Hathaway Energy Co., and Goldman Sachs Group Inc. will join Secretary of State John Kerry and top administration officials at the White House for the announcement. In addition to pledges to cut emissions, provide financing to environmentally-focused companies, and reduce water consumption, the companies have said they will procure at least 1,600 MW of new, renewable energy. The White House said in a statement that it expects to announce a second round of similar pledges later this fall from additional companies.

The commitments are being announced as President Barack Obama is looking to build momentum toward a legacy-defining global climate accord in Paris. In addition to company-specific commitments, the corporate leaders on Monday will signal their support for a strong climate agreement out of the United Nations talks. They administration is using the pledges to set an example for companies to find ways to eliminate their carbon emissions.

Climate Talks

“As the world looks toward global climate negotiations in Paris this December, American leadership at all levels will be essential,” the White House said in a fact sheet detailing the announcement.

The administration’s actions are pushing the issue into the 2016 presidential debate. Hillary Clinton, the front-runner for the Democratic nomination, released an energy strategy saying she would both defend and go beyond Obama’s efforts. Republican candidates have criticized the administration’s initiatives as costly to the economy and unnecessary.

Among the pledges, aluminum manufacturer Alcoa Inc. has agreed to reduce emissions by 50 percent from its 2005 levels, while agricultural giant Cargill Inc. says 18 percent of its total energy use will come from renewable sources.

Coca-Cola Co. said it would drive down the carbon footprint of its beverage production by 25 percent over the next five years, while Google says it plans to triple its purchases of renewable energy over the next decade. Berkshire Hathaway says it plans to invest up to an additional $15 billion in the construction and operation of renewable energy generators, while Bank of America Corp says it will increase its environmental business initiative by $75 billion over the next decade, according to the White House

Other participating firms include Wal-Mart, United Parcel Service Inc., PepsiCo Inc., Microsoft Corp., General Motors Inc.

The corporate commitments won’t be the administration’s only major climate announcement in the next few weeks. The Environmental Protection Agency is set to present final regulations that aim to reduce carbon emissions from power plants by 30 percent from 2005 levels by 2030 later this week.

While visiting Kenya over the weekend, Obama repeatedly praised the country for its efforts to address climate change, saying its efforts tor educe emissions “has put it in the position of being a leader on the continent.” And next month, the president will travel to Alaska for an international summit on Arctic climate issues.

©2015 Bloomberg News

For more, see Big Companies, Big Renewable Investments.

Brexit; It’s been the buzz word dominating the media recently and it’s likely to continue for some time. The UK’s decision to leave the EU has left both supporting sides of the ‘leave’ and ‘remain’ campaign in a somewhat collective state of uncertainty as to how this decision will impact the country right now and in the future years.

The user selection board of the €11 million (US$11.8 million) Funding Ocean Renewable Energy through Strategic European Action (FORESEA) project has awarded “Recommendations for Support” to 15 offshore renewable energy technologies, according to an announcement today from FORESEA.  

New Hampshire is preparing to follow the lead of other New England states and create a system for procuring renewable energy on behalf of residents.

Distributed Energy Resources (DER), such as residential solar panels, are not only changing the way energy systems operate, they also present an opportunity to change the way local communities operate by giving consumers the ability to sell excess energy, generated by microgrids or renewable set-ups, to their neighbors – it’s the new energy paradigm.

On Friday, New Mexico Gov. Michelle Lujan Grisham signed the state’s groundbreaking Energy Transition Act (ETA) into law, meaning that by 2045, the state should be fully powered by clean, carbon-free electricity.

Oriden – a play on the English word “origin” and the Japanese word “denki” meaning ‘electricity’ – is the start of a new type of power generation organization. 

This weekend at its “Earth Day Every Day Fair,” Green Mountain Power announced an energy vision to have a 100 percent carbon free energy supply by 2025 and 100 percent renewable energy by 2030. The utility said the move is among the most aggressive carbon targets for a utility of GMP’s size in the country.

As of 2018, the city of Los Angeles boasted close to 350 MW of installed local solar power, according to reports. Its solar capacity increased some 44 percent year over year.

This week energy developer BayWa r.e. published its Energy Report 2019, which surveyed 1,200 European corporations about their attitudes toward renewable energy.

Eleven million people were employed in renewable energy worldwide in 2018 according to the latest analysis by the International Renewable Energy Agency (IRENA).

Nigerian distributed utility company, Arnergy, announced it has raised $9 Million in a Series A round of funding led by Breakthrough Energy Ventures with participation from the Norwegian Investment Fund for Developing Countries (Norfund), EDFI ElectriFI and All On.

Clearway Energy Group, one of the U.S.’s largest clean power developers, is launching a pilot electronic marketplace for renewable energy credits as more states push for solar and wind projects.

According to a review by the SUN DAY Campaign of data just released by the Federal Energy Regulatory Commission (FERC), within the past month, the agency has dramatically revised its three-year forecast for changes in the U.S. electrical generating capacity mix. Sharp declines are foreseen for fossil fuels and nuclear power while accompanied by even stronger growth in renewable energy (i.e., biomass, geothermal, hydropower, solar, wind) than earlier projected.

The financial benefits of buying and selling locally produced energy from rooftop solar, wind turbines and batteries within communities have been revealed in a test case run by energy tech firm LO3 Energy.

This week, Scottish software company Smarter Grid Solutions (SGS) announced that it will be expanding into Europe after completing successful trials with a utility company in Germany.

Broader domestic social issues and an international policy that moves away from "a permanent war footing" took center stage in President Obama's State of the Union address (SOTUS) last night. Domestic energy policies, including renewable energy, largely took a back seat to the President's bigger talking points: hiking the minimum wage for federal contractors, urging final immigration reforms, strong pushes in employment and job-training, education, retirement savings, and healthcare.

When the sun sets on a remote desert outpost and solar panels shut down, what energy source will provide power through the night? A battery, perhaps, or an old diesel generator? Perhaps something strange and new.

Several countries have announced ambitious goals to be powered completely by renewable energy, while other nations set smaller, incremental goals. These high aspirations have sparked quite a debate amongst industry experts, and we here at Renewable Energy World are curious to hear what you, our readers, have to say.

The Intergovernmental Panel on Climate Change warns the world must triple its use of renewable energy AND develop nuclear power to avoid the worst ravages of climate change. OK. But what’s the optimal percentage of each to develop?

Fossil fuel-funded front groups repeatedly spread disinformation on renewable energy standard and net metering policies in an effort to overturn pro-clean energy laws in 2013 and 2014.

Nuclear power, which accounts for 19 percent of the nation's electricity generation, is facing some serious challenges. Not only did its hoped-for renaissance fizzle out, four reactors shut down last year, another is closing this fall, and the nuclear giant Exelon says it will announce plant closings by the end of this year if market conditions don't improve.

More than a fifth of the world's electrical power production now comes from renewable sources and in 2013 renewables accounted for more than 56 percent of all net additions to global power capacity. These remarkable conclusions come from this year’s Renewables Global Status Report (GSR) from REN21. This highly-regarded annual analysis — the 2014 edition was released this summer — concludes that renewable electricity capacity jumped by more than 8 percent overall in 2013, to produce some 22 percent of all global power production. Total global installed renewable electricity capacity reached a staggering 1,560 GW in 2013.

The European Union is seeking to speed up the creation of a common energy market to help its shift to a low-carbon economy and boost security of energy supplies amid a natural-gas dispute between Russia and Ukraine.

The renewable energy market is fast-paced and growing with each passing day. It’s hard to keep up with every industry announcement and insight, so we decided to highlight interesting developments that took place during the past few weeks, and some valuable insights that are worth revisiting.

European Union leaders backed the most-ambitious carbon emissions goals of any major economy, in a bid to crank up pressure on the U.S. and China ahead of climate talks in December.

As more intermittent renewable capacity is added to grid networks around the world, the need for greater system flexibility in order to cope with the variable supply is growing. In parts of the Europe, grid operators complain that balancing the system is becoming more and more difficult as new renewable sources are added, requiring ever more complex management techniques, as well as repeated use of polluting and inefficient standby capacity. Surges of solar and wind power are often not fully utilised, causing some to question the wisdom of adding further variable renewable capacity.

Every time the U.S. holds midyear elections, the country almost always goes against the incumbent President’s party, which is always sobering to whomever holds The White House. And this week’s elections were no exception.

While OPEC is helping drive down global prices for crude, it’s having less success squeezing the $250 billion clean power industry.

Renewable energy stakeholders are well aware that clean energy is slowly but steadily transforming the energy landscape and that message couldn’t have been more clear at the recently concluded Power-Gen International, the largest show for the traditional power generation industry. Since all forms of power generation are represented at the show through the four co-located conferences, PennWell calls the second week in December "Power Generation Week."

Developers, manufacturers, investors and other renewable energy industry stakeholders need to know where the next big market is going to be so that they can adjust their business decisions accordingly.

Developers, manufacturers, investors and other renewable energy industry stakeholders need updates on the latest and greatest finance mechanisms available today. Since 2003, global consultancy Ernst & Young has released its Country Attractiveness Indices, which ranks global renewable energy markets by analyzing investment strategies and resource availability.

Developers, manufacturers, investors and other renewable energy industry stakeholders need to know where the next big market is going to be so that they can adjust their business decisions accordingly.

The Brazilian bank Itau Unibanco Holding SA raised 1.05 billion reais ($408 million) to finance renewable energy and water treatment projects.

Researchers at Chalmers University of Technology have discovered that the insulation plastic used in high-voltage cables can withstand a 26 per cent higher voltage if nanometer-sized carbon balls are added. This could result in enormous efficiency gains in the power grids of the future, which are needed to achieve a sustainable energy system.

The renewable energy industry has come a long way in relatively little time. The costs of renewable technologies continue to go down, while renewable capacities at many utilities continue to go up. Although, in many cases, renewable technology is mature and ready for utility-scale deployment, state and federal production and investment tax policies appear less evolved.

The annual outlook issue of Renewable Energy World magazine is our attempt to predict what will happen within the renewable energy industry over the course of the year. To do this, we went straight to the top of major renewable energy companies, asking CEOs and presidents to tell us where they are devoting their company resources in order to capitalize on some of the market growth that they expect to see in 2015.

Policies favoring clean energy and increased competition would normally dim prospects for existing producers. Not in Chile, where foreign investors are driving a renewable boom at a time of surging returns by local utilities.

The Russian Prime Minister Dmitry Medvedev has amended Russia’s federal law on the electric power industry. Ordinance No47 lays out a number of measures aiming to stimulate renewable energy sales in the national retail market.

In our second annual survey on American homeowners’ attitudes toward clean energy, one thing is resoundingly clear. In a nation divided on climate change, immigration policy, and so many other issues, Americans are overwhelmingly united in their support of renewable energy.

Turns out that Americans are a bit overly optimistic about the role that renewable energy plays in the U.S. The average American believes that 20 percent of the country’s energy use comes from renewables—11 percent from solar and 9 percent from wind.

This week at the Assembly of the International Renewable Energy Agency (IRENA), political and business leaders from around the world outlined the far-reaching geopolitical implications of an energy transformation driven by the rapid growth of renewable energy.

Corporations signing PPAs with renewable energy power producers have been on the rise for quite some time but in 2018, the group as a whole purchased more than double the clean energy they purchased in 2017.

PG&E Corp. is seeking court protection to amend or cancel power purchase agreements with suppliers as part of its bankruptcy proceedings.

The global strategy for mitigating climate change is no secret. Most countries have embarked on an initiative to transition to clean energy sources. According to a study by scientists from the universities of Oxford and Utrecht, we will almost certainly pass a point of no return for dealing with global warming if governments worldwide don’t transition away from fossil fuels, such as coal and natural gas, towards renewable energy by 2035. This would mean that renewables would need to see their total share of power generation increase by at least two percent per year.

The 2019 Sustainable Energy in America factbook was released this week by Bloomberg New Energy Finance (BloombergNEF) and the Business Council for Sustainable Energy (BCSE). The factbook highlights a number of key trends in sustainable and renewable energy growth, emissions and jobs in the sector. Take a glance at the six charts below to learn more.

In late February, Hawaiian Electric Companies announced that they have achieved a consolidated 27 percent renewable portfolio standard in 2018, even with the loss of Hawaii Island’s geothermal resource for most of the year following the Kilauea volcanic eruption. Hawaii has a goal of reaching 100 percent renewable energy by 2045.