This is important because with the cost of renewable energy continuing to fall, VRE is looking increasingly attractive. Just consider the recent results from South Africa’s renewable energy auctions.
Why then does the discourse around renewable energy continue to view it as a pesky annoyance at best, and a costly gamble at worst? Terms such as “intermittent” and “backup” are often used to pour cold water on the contribution that renewable energy might provide or to question the reliability of solar or wind generation. In addition to the damage they inflict on efforts to promote clean energy, they hint at a very conventional view of electricity systems that is rapidly becoming outdated.
Taking these two particular terms in turn, let us explore them in more detail.
In the village of Aharkandhi in northeastern Bangladesh, life has changed since homeowners began installing solar panels on their roofs. At night, families gather at the local grocery store to watch TV, which boosts business. Children study longer than before.
This is due in part to a World Bank-financed electrification project to promote off-grid electricity in rural communities. This year, the project became the first renewable energy program in Bangladesh to be issued carbon credits for lowering greenhouse gas emissions and the world's first Programme of Activities for solar home systems under the UNFCCC’s Clean Development Mechanism (CDM) to generate carbon credits.
With access to electricity, people are finding new ways to increase their income, and the word is spreading quickly across villages.
In 2014, Tajikistan applied climate analysis to maximize investments in an aging hydropower system upon which half a million people depend. Morocco continued the phased development of a 500 MW concentrated solar power complex — the first of its kind in Morocco and one of the largest in the world, promising to bring electricity to 1.1 million Moroccans. Indigenous peoples’ groups in Brazil presented and received approval for a $6.5 million plan to advance their participation in sustainable forest management.
These are just a few of the many progressive steps that 63 developing and middle income countries are taking to shift to low carbon, climate-resilient economies with support from the Climate Investment Funds (CIF).
With more than $8 billion in resources expected to attract at least an additional $57 billion from other sources, the CIF is accelerating, scaling up, and influencing the design of a wide range of climate-related investments in participating countries. While this may be only a small portion of the resources needed annually to curb global warming, the CIF is showing that even a limited amount of public funding, if well placed, can deliver investments at scale to empower transformation.
For those trying to address challenges in global poverty, inclusive businesses offer solutions to some of the world’s most intractable social problems. Business models that create value for the low-income communities are becoming viable - these have been tested, fine-tuned and perfected by some of the finest brains. Once perfected, it makes sense to contextualize and spread these innovations or the knowledge to markets across the globe. To be able to do this, replication is an important tool.
As the Financial Times pointed out recently, oil companies such as Exxon Mobil and Shell would, under measures considered for the global climate pact to be sealed in Paris next year, cease to exist in their current forms in 35 years. The proposal of phasing out global carbon dioxide emissions as early as 2050 was not resolved in the UN climate talks in Lima last December.
However, the adoption of even a watered-down version in Paris or in later rounds of climate negotiations would mean that the amount of oil and gas produced by these companies, and the quantity of coal mined by enterprises such as Rio Tinto, would need to be greatly reduced by mid-century. Such long-term concerns might over the next years trump current worries about an oil price slump that could be on the wane as soon as marginal projects and producers are shaken out from the bottom of the market.
The past five weeks have given us what may be defining moments on the road to a Paris agreement that will lay a foundation for a future climate regime.
- On October 23, European Union leaders committed to reduce greenhouse gas emissions by at least 40 percent by 2030 and increase energy efficiency and renewable energy use by at least 27 percent by 2030.
- On November 12, during the APEC Summit in Beijing, Chinese President Xi Jinping and United States President Barack Obama jointly announced their post-2020 climate mitigation targets: China intends to achieve peak CO2 emissions around 2030, with best efforts to peak as early as possible, and increase its non-fossil fuel share of all energy to 20 percent by 2030; and the U.S. agreed to cut emissions by 26-28 percent below 2005 levels by 2025.
- On November 20, at the donor conference in Berlin, led by the U.S., Germany, and others, donors pledged about US$9.3 billion to the Green Climate Fund (GCF).
China’s announcement in particular is considered by many to be a game changer. China, the world’s biggest emitter with its emissions accounting for more than 27 percent of the global emissions, is setting an example for other major developing countries to put forward quantifiable emission targets. The announcement will hopefully also brush away the “China excuse,” used by some developed countries that have avoided commitments on the grounds that China was not part of action under the Kyoto targets.
The forecast for climate change has been undeniably altered overnight — positive news for the planet and for economic growth.
U.S. President Barack Obama and Chinese President Xi Jinping, the leaders of the world's two largest economies and two largest emitters of pollutants into the atmosphere, demonstrated that, together, they are leading the global fight against climate change.
Their commitments are an absolutely essential first step if we are to hold the warming of the planet under 2 degrees Celsius, and avoid the disastrous consequences of an even more uncertain world. China committed to an emissions peak by 2030, with 20 percent of its energy coming from renewable sources, and the United States agreed to reduce its emissions by 26-28 percent below 2005 levels by 2025. Importantly, they agreed to expand their joint clean energy research and development.
These are some of the views and reports relevant to our readers that caught our attention this week.
Is the Internet broken, and can it even be fixed?
Our modern global communications infrastructure still relies on core principles that were defined when the Internet had only a few thousand users. We have faster computers, more storage space, and more people using the network, but worryingly, some of the key assumptions haven't changed. As an example, take the protocol that helps determine how data gets to its destination. Different networks in the Internet "advertise" routes to deliver data to other networks, with the most efficient candidate being chosen.
The Future of Cities
As much as the Internet has already changed the world, it is the Web’s next phase that will bring the biggest opportunities, revolutionizing the way we live, work, play, and learn. That next phase, which some call the Internet of Things and which we call the Internet of Everything, is the intelligent connection of people, processes, data, and things. Although it once seemed like a far-off idea, it is becoming a reality for businesses, governments, and academic institutions worldwide. Today, half the world’s population has access to the Internet; by 2020, two-thirds will be connected. Likewise, some 13.5 billion devices are connected to the Internet today; by 2020, we expect that number to climb to 50 billion.
By Kerry Adler, President and CEO of SkyPower
The fundamental inequality that exists between emitters of carbon and the victims of its devastating byproduct requires global cooperation and intervention beyond our willingness to act thus far. Today, we have the necessary technology, ingenuity and global monetary tools to incentivize a shift to cleaner energy.
Placing a price on carbon enhances the competitive position of renewable energy technologies, such as utility-scale solar, relative to fossil energy, thus encouraging migration away from high-carbon fuels. It is an important step, and it can be supported with other initiatives to ensure accountability.
In the private sector, transparency regarding carbon emissions is essential. With the advent of the Internet and the plethora of information available today, it is not only possible, but imperative that emitters of carbon are held accountable in a public forum.