Energy Update
Within a decade, if not a few years, the levelized cost of electricity is coming way down for new utility-scale onshore wind and solar photovoltaic (PV) projects to levels below all fossil or conventional fuels including combined cycle gas turbine (CCGT) power plants, according to new figures from the U.S. Energy Information Administration.
For the second year in a row, Xcel Energy has hit a significant milestone in its quest to deliver 100% carbon-free electricity to customers by 2050. Xcel reported that it broke its own record for a single-year drop in emissions in 2020, cutting carbon emissions company-wide by approximately six million tons, a 12% reduction over 2019 levels.
Colombian power generator Isagén has completed the acquisition of two small hydroelectric plants with a total capacity of 39.8 MW from Generadora Luzma.
In a statement, the Medellín-based firm did not provide details of the transaction but said the Luzma I and Luzma II facilities in northwestern Antioquia department formed part of its clean energy strategy.
Colombian power generator Isagén has completed the acquisition of two small hydroelectric plants with a total capacity of 39.8 MW from Generadora Luzma.
In a statement, the Medellín-based firm did not provide details of the transaction but said the Luzma I and Luzma II facilities in northwestern Antioquia department formed part of its clean energy strategy.
National Grid Renewables, which includes the renewables development company formerly known as Geronimo Energy, announced today the start of construction on the 200-MW Prairie Wolf Solar Project in Coles County, Illinois. The project is poised to generate tax revenue, landowner income and charitable initiatives, all while adding more clean energy to the electric grid.
Renewable energy developer RP Global announced that it is investing in the development of PV and wind power projects across Poland. Wojciech Glocko, former EPA Wind and utility manager, has been hired to head up project development together with a team of senior local experts from Poland’s leading public and private renewable energy organizations.
At least $14 trillion needs to be invested in the grid worldwide by 2050 to support an evolved power system, according to BloombergNEF’s new Power Grid Long-Term Outlook 2021 published this week.
If we learn anything from the Texas blackouts, and the death and suffering that have resulted, it should be this: distributed resilient solar+storage systems are no longer a luxury – they are an essential tool to protect citizens from power outages, and modernize the grid so outages become less frequent and severe.
Renewable energy is moving into a new stage in its evolution.
Renewables account for more than two thirds of new generating capacity additions in the U.S. This means that renewable energy is claiming an increasing share of the national generation mix. EIA estimates that wind power accounted for 9% of U.S. electricity generation in 2020., surpassing hydropower as the predominant renewable electricity generation source in 2019.
Last week, US residential solar and storage installer Sunnova announced it has secured a position of 85 megawatts in the recent ISO-New England Forward Capacity Auction (FCA15). Sunnova’s aggregated residential solar portfolio will offer competitive renewable energy capacity to help meet the region’s future energy needs. The company expects the complete portfolio to begin participating with the FCA15 commitment year beginning June 2024.
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