Solar Outpaces Wind for the First Time
A sharp dive on new wind capacity coupled with a strong output from global solar PV installations has caused solar to exceed wind this year – for the first time ever. Data from Bloomberg New Energy Finance shows that 36.7 GW in new solar PV capacity will be added worldwide in 2013, compared with 35.5 GW in new wind installations. This year’s slowdown in the two largest wind markets, China and the U.S., has paved the way for the PV market to overtake wind, adds BNEF. The analysis also predicted that both wind and solar may see a move back to profit as soon as this year.
Mandelson Warns Miliband On Plan to Freeze U.K. Energy Bills
Peter Mandelson, former business secretary for the U.K. Labour Party, warned leader Ed Miliband over his plan to put a cap on energy bills. Miliband has accused utility companies of exploiting customers and pledged that energy suppliers will be prevented by law from increasing prices until 2017 if Labour Party wins the May 2015 election. Mandelson told the Guardian newspaper that perceptions of Labour policy are in danger of being taken backwards. Energy companies retaliated against the proposed price cap, saying that the rising bills are the result of requirements imposed by government that they buy power from renewable sources.
Solar-Credit in India Doubles as Enforcement Tightens
Demand for solar energy credits in India more than doubled this month as regulators has reinforced efforts to carry out the governments clean-energy targets on power distributors. More than 6,700 solar credits were sold in the September trading session, up from 2,359 compared to the previous month, according to data collected by REConnect Energy Solutions Pvt. The Indian government requires large industrial companies and power distribution utilities to get as much as 10 percent of their energy from renewable sources.
Russia Awards First Clean-Energy Subsidy to Boost the Industry
Russia, the world’s biggest oil producer, offered its first state support for clean energy by awarding subsidies to 39 renewable energy ventures. President Vladimir Putin approved a subsidy program to spur sustainable energy generation in May in a bid to reduce reliance on oil, gas and coal for power while cutting emissions. The country plans to expand the share of renewables to 2.5 percent of power output by the end of the decade from 0.8 percent now. Russia already has plans for a second tender next June for 2015 to 2018.