- “Carbon ‘bubble’ could cost global economy trillions” • A rapid reduction in demand for fossil fuels could see global economic losses of $1 trillion to $4 trillion by 2035 according to a report. Energy efficiency and low carbon technology could cause the downturn, even if governments fail to take new steps to meet the Paris climate goals. [BBC]
- In a coordinated move, three administrative agencies of the Chinese government issued a notice imposing caps and reducing feed-in tariffs, while setting rules at the central government level for utility-scale projects. The aim of the “2018 Solar PV Power Generation Notice” is to prevent excessive solar PV generation capacity from being installed. [PV-Tech]
- Data from California’s grid operator shows that in May solar generation in the area managed by the California ISO rose to a new record, providing nearly 17% of in-state generation. With gas falling to only around 15%, this means that solar provided more electricity for Californians than gas, for the first time ever, on a monthly basis. [pv magazine Australia]
- San Diego Gas & Electric announced it will double its backup battery capacity to support the growth of renewable energy in its service area. The utility plans to build five more lithium-ion battery backup facilities, including one of the biggest in the US, over the next three years. The new plants will add nearly 100 MW of capacity. [Times of San Diego]
- Duke Energy Carolinas has reached an agreement that would reduce its 10-year grid modernization plan from $7.8 billion to $2.5 billion. The agreement would also increase renewable and energy storage development. Energy storage initiatives have grown to 300-MW by 2026, according to a Greentech Media report. [Power Engineering Magazine]
For more news, please visit geoharvey – Daily News about Energy and Climate Change.
Source: Green Events
June 5 Green Energy News