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The Institute for Economics and Financial Analysis of Energy (IEEFA) today announced a report describing how the growth of renewable energy sources has impacted the electricity markets around the world

October 5th 2017 - The Global Transition  Report documents the speed of change in Asia, Europe, America and Africa due to technological progress and cost reduction in the production of solar and wind energy.

Total loss of unsuccessful companies covered by the 2007-2016 report. It was 185 billion dollars.

"From Europe, Asia to America and Africa, wholesale electricity prices have fallen due to an increase in the production of renewable energy sources," says Tim Bakley, lead author of the report and director of IEEFA for energy finance studies at AustralAsia.

Although it may take decades to make renewable sources the dominant form of production at global level, their presence today is permanent and their improvement is inevitably highlighted in this report.

Energy companies continue to think about how and when to accept the global trend of using renewable energy sources, which will contribute to a faster transition if the financial damage of failed investments is avoided due to inflexibility, or late reactions of companies regarding the use of renewable energy sources.

 

Additional details from the report:

 

Across Europe, lower wholesale electricity prices have created significant disruptions and have shown that delays due to insufficient flexibility in terms of using RES for energy companies represent a significant financial risk.

In the United States, the renewable energy leader, NektEra, believes that renewable energy sources are a means to create a sustainable value of the stock while providing a low price for electricity.

 

In China, the CEIC-affiliated China Shenhua and China Guodian - have created the world's largest energy company with installed capacity (225 GW)

n South Africa, electricity prices have quadrupled since 2007 and the high cost of coal energy threatens to increase prices in the future. On the other hand, renewable energy sources will be more attractive and more urgent, and more readily available.

In India, in 2017 a milestone was made when solar tariffs were lower than the cost of energy produced from the existing coal capacity of the main national company NTPC.

 

In Australia, extremely high electricity prices have become the main political issue due to insecurity in implementing energy policies and delaying the use of renewable energy sources.

 

More information on: diana.cavor@greenhome.co.me