Solar PV market set for growth over next 5 years: IEA

21/10/2019 09:42 Solar


The world’s total renewable-based power capacity will grow by 50% between 2019 and 2024, according to an International Energy Agency (IEA) report on Monday.

According to the IEA's latest renewable energy market forecast entitled "Renewables 2019" report, the additional capacity of 1,200 gigawatts (GW) [between 2019 and 2024] is driven by cost reductions and concerted government policy efforts.


"The installation of solar PV systems on homes, commercial buildings and industry is set to take off over the next five years," IEA said and added that the applications are mostly distributed Photovoltaics (PV). The agency also stated that solar PV accounts for 60% of the rise.


The share of renewables in global power generation rises from 26% today to 30% in 2024.


Ørsted greenlights 460MW solar and battery storage project

15/11/2019 09:24:00

Ørsted has started the construction of a new 460MW solar power and battery storage project in the US.


RWE Renewables grows pipeline to 20GW

15/11/2019 09:19:00

RWE Renewables has grown its clean energy pipeline to around 20GW in the first few weeks after completing its acquisition of Innogy and E.on's portfolios, the developer announced.


Daily (14.11.2019): EUAs rebounded by 1% on Wednesday, amidst a lack of auction supply and positive economic data

14/11/2019 11:45:00

Crude oil prices inched higher on Wednesday, stimulated by upbeat economic comments from Jerome Powell, the Chair of Federal Reserve. A drop in U.S. crude stocks and a positive outlook on oil markets from OPEC also supported prices. On this background, WTI futures rose by 0.6% to $57.12 a barrel, while Brent crude edged 0.5% higher at$62.37 a barrel.