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Report: Global Renewable Investment Down, Capacity Grows

April 11, 2017

Global new renewable power capacity grew in 2016 even as global new investment in renewables dropped, according to a report commissioned by the United Nations Environment Program out April 6.

The Global Trends in Renewable Energy Investment 2017 report found that global investment in renewables—excluding large hydro—fell in 2016 by 23% to $ 241.6 billion. That total represented the lowest global investment since 2013.

Global renewable power capacity grew 8% in 2016. “Wind, solar, biomass and waste-to-energy, geothermal, small hydro and marine sources between them added 138.5GW, up from 127.5GW in the previous year,” according to the report.

The reason for the drop in investment is twofold, the report says. “One was lower costs, with average dollar capital expenditure per MW down by more than 10% for solar photovoltaics, onshore wind and offshore wind, improving the competitiveness of those technologies,” according to the report. “The other was not so positive – there was a marked slowdown in financings in China, Japan and some emerging markets during the course of the year.…

Minnesota Looks to Double Renewable Energy Standard to 50% by 2030

March 1, 2017

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Bipartisan lawmakers in Minnesota want utilities in that state to procure 50% of power sold by 2030 from renewable sources. The measure, if passed, could put the state’s renewable efforts on par with California’s.

The bipartisan bill introduced in the Minnesota Legislature on February 27 seeks to double the state’s renewable energy standard, which is currently 25% by 2025.

Lawmakers noted that the state is already on track to surpass current goals set by the Next Generation Energy Act, which was enacted by former Gov. Tim Pawlenty (R) in 2007. That bill was overwhelmingly supported by 97% of legislators.

About 21% of Minnesota’s generated electricity came from renewable sources in 2015, according to the Minnesota Department of Commerce. Wind energy generated 17% of the state’s power, biomass generated 3%, and hydro 1%. About 44% came from coal, 21% from nuclear, and 13% from natural gas.

Under a 2007 statute, Xcel Energy—the state’s largest utility—has a separate, more aggressive requirement of getting 31.5% of its power from renewables by 2020, with at least 24% of sales from wind and 1.5% of sales from solar.…

Germany Backs Measure to Replace Renewable Incentives with Competitive Auctions

July 15, 2016

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Lawmakers in Germany have voted to replace subsidies for wind and solar with competitively priced electricity prices.

The country’s upper (Bundesrat) and lower (Bundestag) legislative chambers on July 8 voted to adopt an amendment to the Renewable Energy Sources Act (EEG 2016) introduced by Minister of Economics and Energy Sigmar Gabriel. The legislation aims to replace feed-in tariffs with renewable energy auctions.

“[Renewable generators] are no longer small puppies,” Gabriel said as he introduced the bill earlier this year. “They have grown up and they need to face market pressure.”

The law is credited with enabling Germany’s energy transition, Energiewende, which calls for the country’s current share of renewable power to increase from 33% in 2015 to 40% in 2025, 55% in 2035, and 80% in 2050.

One of the earliest iterations of the law, EEG 2012 guaranteed feed-in tariffs for renewable power producers, setting fixed prices per kilowatt-hour, emphasizing priority access for renewables, and binding grid operators to buy all renewable power and sell it on the exchange.…