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The 28 members of the EU have different emission targets, but overall they need to get 20 percent of the decline. The data by Eurostat depicts - in 28, almost 11 hit their targets of 2020 in 2017, where Sweden and Finland achieved over 50 percent of their needs through ethical sources. Also, the EU realized 36 percent of the y-o-y increase in installations of PVs in the last year (as per the data by SolarPower Europe).
Overall the installation grew 20 percent in 2018, and Germany became one of the largest markets with 2.96 GW capacities, where the growth of 68 percent year-on-year was reported. The other leading PV markets are Turkey and the Netherlands. The demand for such installation decreased 37 percent in Turkey, but increased overall in the continent, where some of the key EU & non-EU emerging markets included Norway, Russia, Serbia, and Ukraine.
China that dominated the PV markets has already started working towards building solar power stores, which will be installed in the space by 2025, and could trap energy from the space, and reflect it back to the earth to fulfill the energy demands of the planet.
Zero carbon project funding increase in 2018
A number of oil companies are acquiring green energy projects seeking ways to shift from non-renewable to renewable. In the last two years, 5 out of 15 such deals in the energy sector were made in solar with over $8 billion spent on such deals - as per Mercom Capital Group data. Out of 7 funding deals by the oil firms, more than $240 million was invested in PV storage. Battery storage is increasing where a company like Royal Dutch Shell acquired 44 percent in Silicon Ranch by investing $217 million and BP invested $299 million in Light source 43 percent shares. In Brazil, the national petroleum firm entered a deal with Centro de Inovacoes, which develops printed and flexible PVs based on perovskite technology. In recent times, an Australian fund manager started the US Solar Fund where it expects to raise $250 million to generate green energies by funding projects in the US.
Poland promotes small scale PVs
Most electricity used in Poland comes through coal field power grids, which increases pollution and the production cost. The Law and Justice Party came to rule, on the terms of sustaining coal industries, and, to meet the EU green targets it needs to promote green energy where it offered incentives for households, companies and local authorities, for using PVs to meet their local demands, where they could sell the surplus. The price of electricity increased in the country significantly in the second half of 2018, where a law was enforced in December to restrict the increase in price for household and factory energy rates ahead of elections. Since the availability of natural reserves is limited, Poland will have to cut fossil projects to promote green technologies.
To find out more about solar PVs investment, check 99 Alternatives at (http://www.99alternatives.com).
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