Anywhere you look you’re discouraged from getting one, they’re currently just not cost effective. They’d have to drop at least 50% in price for me to consider getting one for my home.
global capacity additions to potentially surpass 400 GW.
400 GW of pv are around 2% of global electricity, that is huge! Together with wind we could see all of the electricity demand growth covered by renewables for the first time!
In May, coal set a record by generating less than 10% of the EU’s electricity generation for the first time ever.
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Growth in solar power continued in the first half of the year, with generation up 13% compared to the same period in 2022. Wind generation rose by 5%, while hydro recovered towards average levels (+11%). Nuclear fell (-4%) but is set to improve as the year continues.
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EU fossil generation collapsed in the first half of 2023, falling by 17% (-86 TWh) compared to the same period in 2022. Fossil generation from January to June was the lowest since at least 2000 at 410 TWh. The drop was Europe-wide, with a fall of at least 20% in eleven countries, and more than 30% in five (Portugal, Austria, Bulgaria, Estonia, Finland).
Government officials said they expect the first 50 GW of the entire hybrid project will be operational by 2030. Xinhua reported that “When the clean energy project is fully built, it will have a total capacity exceeding 100 GW, producing approximately 300 billion kilowatt-hours annually, enough for 100 million households.”
May 2023 also marks a record high for electricity generation from solar and wind. Solar and wind generated 30% of the EU’s total electricity demand in May, compared to 25% in the same period last year.
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