Saur Energy October Worldwide Research update

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US, EU and Japan Lead in Carbon Capture and Storage Usage: Report

The European Union (EU) released a report sharing an ongoing trend in the usage of CCUS (Carbon Capture Utilization and Storage). The report gives an assessment of 2022 global industry. The report states that the CCUS industry witnessed an increase in storage capacity by 44% over the year. However, the report anticipates that the cost of CCUS today is still difficult to assess. The report accredits this to the varied technologies, and plant design factors. The report assesses the capture costs can lie anywhere between EUR 13 and EUR 103 per ton of carbon dioxide (CO2), depending on the industry and CO2 concentration. Download Full Report

RE In Infrastructure Will Rise From 22% in 2020 to 29% in 2030: IRENA

COP28, IRENA (International Renewable Energy Agency) and Global Renewables Alliance outlined a roadmap at Pre-COP. They estimate that countries are likely to fast-track energy transition by tripling renewable power and doubling energy efficiency by 2030. At the COP28 Presidency, International Renewable Energy Agency (IRENA) and Global Renewables Alliance published a joint report outlining key enablers to triple global renewable power capacity to 11,000 GW. It will double average annual energy efficiency improvements by 2030. The report launched during the Pre-COP in Abu Dhabi informs countries as they prepare for COP28. Download Full Report

Residential Costs Stayed Flat from 2020 to 2022 & then Declined in 2023: NREL

The National Renewable Energy Laboratory (NREL) has released its annual report on ‘U.S. Solar Photovoltaic System and Energy Storage Cost Benchmarks.’ The report tracks the solar cost trends to support the U.S. Department of Energy Solar Energy Technologies Office. It aims to accelerate the advancement and deployment of solar technology and gives an account of the cost breakdown with minimum sustainable price analysis: Q1 2023. The report also shared the cost breakdown of installed solar photovoltaic (PV) and battery storage systems in the U.S. Download Full Report

Bids For Standalone Wind In Tranche XIV In June 2023 Awarded Between INR 3.18-3.24 Per kWh: GWEC

The India’s Wind Energy Market Outlook 2023-2027 released by the Global Wind Energy Council, says that by the end of 2022, total renewable energy installed in India stood at 121 GW of total installations with wind contributing 35% of this, making India the fourth-largest wind market in the world, in terms of cumulative installed capacity. Download Full Report

Solar Accounted For 60% Of New Generation Capacity In Last 5 Years: IEA

The International Energy Agency (IEA) report titled “World Energy Outlook”, shares an update on India’s initiative to build energy security and reduce greenhouse gas emissions. The report states that recent events, such as rising heatwaves and other extreme weather events, have not caused a significant increase in greenhouse gas emissions. It further adds that it accredits the increased use of renewable energy, which has increased its contribution to the power capacity addition. The report anticipates that solar PV alone cannot get the world on track to meet its climate goals, but, more than any other clean technology, it can light up the way. Download Full Report

European Green Deal Law Aided In Increased RE Deployment: Report

The European Union (EU) shared a report titled ‘The State of the Energy Union’ 2023, by the European Commission. The report looks back on the EU response to the unprecedented energy crisis of the past two years. It assesses the state of play with the green transition at the national and global levels. Read More

Flexible Energy Solution Key Towards Decarbonization: EEA

The European Environment Agency (EEA) recently published a?report?titled ‘Flexibility Solutions for Decarbonization: Securing the EU Electricity System.’ This report highlights a significant surge in renewable energy capacity, specifically in solar and wind energy, which is expected to increase from 24% to 60% of the total renewable energy capacity. Download Full Report

India and US Are Major Drivers Of Utility-Scale Solar Power: ISA

The International Solar Alliance (ISA) recently released a report titled ‘World Solar Market Report’. It talks about the overall global scenario in the solar energy sector. The report placed India as one of the new undisputed leaders in global solar energy deployment. The report mentions that the global solar PV deployment had been? primarily driven by three major economies – China, India and Japan. Download Full Report

Regional Cooperation Key To Increase In Investment In West Asia: IRENA

The latest report?by the International Renewable Energy Agency (IRENA) on ‘Scaling up Renewable Energy Investment in West Africa’ states that the Nigeria contributed to three-quarters of the energy supply in West Africa. It also houses nearly half of its people, allowing this country to dominate the region demographically and economically. Download Full Report

At Least 3000 GW of Renewable Power Projects in Grid Connection Queues: IEA

The International Energy Agency (IEA) has released a report on, ‘Electricity Grids and Secure Energy Transitions Enhancing to Support the Foundations for Building Resilient, Sustainable and Affordable Power Systems’. The report emphasises that the grid’s risk is becoming a weak link of clean energy transitions. Download Full Report

India To Install 21GW Of Onshore Wind Capacity Next 5 Years: GWEC

Global Wind Energy Council (GWEC) recently released a detailed report on the status of onshore wind energy globally. GWEC’s Global Wind Workforce Outlook report?sheds light on India’s status in onshore global wind energy. It said that India stands fourth in the world market in this technology.?Download Full Report

10% PV Installations Will Incorporate Storage Within a Decade: DNV Report

DNV, an expert in assurance and risk management, has recently released its ‘Energy Transition Outlook, 2023’ report, focusing on the progress of solar photovoltaic (PV) technology. The report gives an overall trends stating that, in 2004 the annual solar installations were a modest 1 GW. Download Full Report

143 Countries Are Net Importers of Fuels Globally: Report

The United Nations Trade and Development (UNCTAD) in a conference recently unveiled a report on commodities and shared an update on its role in the development of emerging nations. This report sought to evaluate factors that bolster the adoption of eco-friendly industrial policies in developing countries reliant on commodities. Download Full Report

Solar Energy-generated Electricity Costs only 3?6 Cents Per kWh: CDRI Report

UNDP (United Nations Development Program) has released a report published by Coalition for Disaster Risk Infrastructure (CDRI), on ‘Capturing the Resilience Dividend’.? Capital Cost in Solar The report suggests that the cost of capital offers a critical benchmark to assess the risks and return preferences of investors and the pricing of money in different geographies. Download Full Report

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