Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Page added on March 11, 2018

Bookmark and Share

$1 tn needed to achieve 1TW solar power capacity by 2030

$1 tn needed to achieve 1TW solar power capacity by 2030 thumbnail

At the International Solar Alliance, Emmanuel Macron said the government, private sector and civil society need to work together to overcome hurdles

French President Emmanuel Macron on Sunday said USD 1 trillion will be needed to achieve one terawatt (TW) of solar power capacity by 2030.

Speaking alongside Prime Minister Narendra Modi at the founding conference of the International Solar Alliance (ISA), he said there are financing and regulation hurdles for achieving the target which need to be cleared by government, private sector and civil society coming together.

Without any names, he referred to countries quitting the historic Paris Climate agreement and said ISA nations came together to “deliver complete results”.

The oblique reference was to US President Donald Trump’s decision to pull out of the Paris climate agreement, which was signed by nearly 200 countries in December 2015 in an effort to curb global greenhouse gas emission and limit global warming to within 2 degrees Celsius.

In November last year, Syria signed the deal, leaving the US as the only country in the world not to support the framework deal to combat greenhouse gas emissions.

“They (ISA member nations) started to act and to deliver complete results. They didn’t wait, they didn’t stop because few countries decided to just leave the floor and the Paris agreement,” he said. “Because they decided it was good for them, their children and grandchildren and they decided to act and keep acting.”

Mr. Macron said countries represented at ISA represent three-fourths of the world population. As much as 20-50 per cent of the population do not have access to power, he said.

The joint goal is to have 1 TW of solar energy by 2020 for which “we need USD 1,000 billion,” he said.

“We know the hurdles… (there) are financial hurdles, regulations, capacity hurdles as well. We shall therefore lift every single one of them,” he said. “To that effect, it is not enough to look at what governments are doing. We need a new international deal with the private sector, the international public sector and the civil society as well.”

“It is common good and it is for the development of all countries,” he said.

Three requirements

The French president said three primary things need to be done. Firstly, identify solar energy potential in each country, their projects and financing requirement. Secondly, mobilise available finance and thirdly to provide a favourable framework.

ISA, he said, will bring member nations financing as well as share expertise between them.

On financing, he said, the French Development Agency will allocate 700 million euros in additional spending to its commitment to solar energy by 2022, taking the total commitment to €1 billion.

“But in order to reach the 1,000 billion dollars by 2030, to reach the 1TW of solar energy, we need private investors,” he said, adding that the alliance will provide a favourable framework.

“It means that we will improve the regulations, the terms in order to support investments in renewable. It is also about improving public procurement and to provide efficient policies,” he said, urging nations to facilitate purchase and supply of electricity generated from solar energy.

Stating that existing guarantees need to be reviewed, he said, “We need appropriate guarantee tools. The existing ones are too expensive and do not cover all of the risks“.

Lauding India for showing the world the way in scaling up solar power generation capacity, he said, renewable capacity has within two years gone up from 39 gigawatt to 63 GW, while that of solar energy has soared by 140 per cent.

“India proves that it is possible. What you are in the process of succeeding in doing is being watched by the entire world,” he said. “You are attracting investment, you are supporting them, you are training young people and so this is what we shall be doing. This is what 121 countries of the alliance in Asia, Africa, Latin America shall be doing.”

Later he tweeted: “We make Delhi this weekend the world capital of the sun. Through our presence, we seal an alliance to make the energy of the sun accessible to everyone”.

“Countries with the most solar potential are often the most in need of energy, but only a small share of electricity generation. With ISA Summit, we bring capabilities closer to needs,” he said in a tweet.

Seven months ago, when Mr. Modi came to Paris, all was done to make ISA Summit, which was an agreement in principle, a reality. “It’s done today.”

“We did not come from all continents to deliver additional speeches that will soon be forgotten. We came to ask the topics on the table and give access to solar energy in the world,” he added.

financialexpress



67 Comments on "$1 tn needed to achieve 1TW solar power capacity by 2030"

  1. MASTERMIND on Mon, 12th Mar 2018 3:58 pm 

    UC Davis Peer Reviewed Study: It Will Take 131 Years to Replace Oil with Alternatives (Malyshkina, 2010)
    http://pubs.acs.org/doi/abs/10.1021/es100730q

    University of Chicago Peer Reviewed Study: predicts world economy unlikely to stop relying on fossil fuels (Covert, 2016)
    https://www.aeaweb.org/articles?id=10.1257/jep.30.1.117

    Solar and Wind produced less than one percent of total world energy in 2016 – IEA WEO 2017
    https://www.iea.org/publications/freepublications/publication/KeyWorld2017.pdf

    Fossil Fuel Share of Global Energy since 1990 – BP 2017
    https://imgur.com/k7VecMq

    Renewable energy ‘simply won’t work’: Top Google engineers
    http://www.theregister.co.uk/2014/11/21/renewable_energy_simply_wont_work_google_renewables_engineers/

    Top scientists show why powering US using 100 percent renewable energy is a delusional fantasy
    http://energyskeptic.com/2017/big-fight-21-top-scientists-show-why-jacobson-and-delucchis-renewable-scheme-is-a-delusional-fantasy/

    IEA Sees No Peak Oil Demand ‘Any Time Soon’
    https://www.wsj.com/articles/iea-sees-no-peak-oil-demand-any-time-soon-1488816002

    The Curse of Energy Efficiency
    https://thetyee.ca/Opinion/2018/02/26/Energy-Efficiency-Curse/

  2. Cloggie on Mon, 12th Mar 2018 3:59 pm 

    “I’m only interested in larger crowd of nazi’s *wink*”

    Do I have a treat for you!

    https://youtu.be/a7xqwm_c1_k

    Americans are amateurs. Here 150,000 Polish hard-right warning the their government not to give in to pressure from the Merkel bitch to take in Allah-bots.

    They won’t.

    Polish EU president Tusk has warned Brussels not to push it with their darkies, because it could blow up the EU. In Eastern-Europa + Ukraine they are all like Poland.

    https://www.politico.eu/article/polish-government-could-drive-the-country-out-of-the-eu-tusk-warns/

    London is now escalating the issue over the poisoned Russian spy.
    Brexit negotiations not going well.
    The West is drifting apart.

  3. dave thompson on Mon, 12th Mar 2018 4:01 pm 

    Coal has lost about 1.2% last I looked from 2016, world wide. Coal may be dirty but methane is is much worse when it comes to co2. This is mostly due to the NG that leaks into the atmosphere. Yes I know all about the so called new production from alts. My concern is the fact that none of the new alternative electrical generation has made any difference in the co2 emissions world wide. The co2 numbers have only increased year over year. My point is that all of this clean green energy looks more and more like a false hope to reverse climate disruption.

  4. Boat on Mon, 12th Mar 2018 4:06 pm 

    Clog

    I have mentioned many times the contribution of the EU to cleaner energy over the years. A few of our states are playing catch-up. To stay cost competitive the rest of the states will join in the long run.

  5. Cloggie on Mon, 12th Mar 2018 4:15 pm 

    “My concern is the fact that none of the new alternative electrical generation has made any difference in the co2 emissions world wide. The co2 numbers have only increased year over year. My point is that all of this clean green energy looks more and more like a false hope to reverse climate disruption.”

    You are too pessimistic:

    https://deepresource.wordpress.com/2017/07/24/europe-leading-the-way-in-reducing-greenhouse-gases/

    https://deepresource.wordpress.com/2017/06/21/bloomberg-peak-co2-emission-from-power-generation-in-2026/

  6. Cloggie on Mon, 12th Mar 2018 4:19 pm 

    I know boat.

  7. Kat C on Mon, 12th Mar 2018 4:19 pm 

    Dave Thompson, all your comments seem quite sane and logical to me.

    Not a single solar panel has been made without fossil fuels, nor a single windmill. The pie in the sky dreamers can never tell me how we are going to stop using fossil fuels but still get rare earth minerals from China that we need for solar, wind and electric cars. Until I see a crash plan for building clipper ships its all pie in the sky. Nor has anyone ever responded to how we are going to harvest wheat in the vast Mid Western wheat fields with harvesters running on electric powered batteries.

    If we were ever going to go all alternative, ALL the things now done with fossil fuels have to be transformed.

    Any rate how many clipper ships can you make a year???? 🙂 Show me the plans….

  8. GregT on Mon, 12th Mar 2018 5:36 pm 

    Boat,

    “Wind and solar are over 50 percent of new production and along with Nat gas have taken back big chunk out of coal in the developed world. Not the third and developing world. Countries make their own choices.”

    Fossil fuels consumption globally, continues to grow year over year. It makes zero difference as to which countries are making their own choices. CO2 accumulations are global.

    Saudi Arabia, Australia, The Untied States, and Canada, in that order, are the largest contributors per capita to global CO2 emissions. The developing world produces less than one half of the CO2 per capita as we do.

  9. Boat on Mon, 12th Mar 2018 6:42 pm 

    greggiet,

    That is true. But it is also true the US for example dropped co2 emissions to the eighties level.

  10. GregT on Mon, 12th Mar 2018 6:59 pm 

    Boat,

    C02 is accumulative in the environment. We either stop making the problem worse, or we don’t. There is no middle ground. And Boat, Texas is likely the largest producer of CO2 per capita, than any other state on Earth.

  11. Davy on Mon, 12th Mar 2018 7:50 pm 

    “We either stop making the problem worse, or we don’t. There is no middle ground.”

    No middle ground? So it is just extremes that matter? No wonder you have such a hard time ever making a coherent comment with that kind of binary attitude. Solutions are found in the middle. It is extremist like you and your buddies that prevent solutions.

  12. Boat on Mon, 12th Mar 2018 8:05 pm 

    greggiet

    The Saudi takes the crown of areas with a similar population but your point is taken. Only cheaper renewables and cheaper electric cars will lower FF production in the future. That or population loss by climate change.

  13. GregT on Mon, 12th Mar 2018 9:54 pm 

    “No middle ground? So it is just extremes that matter? No wonder you have such a hard time ever making a coherent comment with that kind of binary attitude. Solutions are found in the middle. It is extremist like you and your buddies that prevent solutions.”

    Continuing to add more CO2 into the environment, does not solve the problem of CO2 accumulating in the environment. There is no middle ground. We either stop, or we don’t.

    It isn’t exactly rocket science Davy.

  14. MASTERMIND on Mon, 12th Mar 2018 10:09 pm 

    Boat

    As M. King Hubbert (1956) shows, peak oil is about discovering less oil, and eventually producing less oil due to lack of discovery.
    https://imgur.com/a/6dEDt

    IEA Chief warns of world oil shortages by 2020 as discoveries fall to record lows
    https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000

    Saudi Aramco CEO sees oil shortage coming as investments, oil discoveries drop
    https://www.reuters.com/article/us-aramco-oil/aramco-ceo-sees-oil-supply-shortage-as-investments-discoveries-drop-idUSKBN19V0KR

    Peak Oil Vindicated by the IEA and Saudi Arabia

  15. MASTERMIND on Mon, 12th Mar 2018 10:28 pm 

    Boat

    You should go back to POB…That is where the idiots like Dumb dumb Dennis who believe in EV’S and renewable s! he said once that we will transition to renewable s and EV’s just like cell phones! LOL

  16. Cloggie on Tue, 13th Mar 2018 2:07 pm 

    https://cleantechnica.com/2018/03/13/france-committing-e700-million-international-solar-alliance-says-president-macron/

    France Committing €700 Million To International Solar Alliance, Says President Macron

  17. Cloggie on Tue, 13th Mar 2018 2:13 pm 

    “Yabut, you need fossil fuel for mining and…”

    No you don’t:

    https://cleantechnica.com/2018/03/12/swedish-copper-mine-converting-monster-trucks-run-electricity/

    Swedish Copper Mine Converting Monster Trucks To Run On Electricity

Leave a Reply

Your email address will not be published. Required fields are marked *