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Fossil fuels are losing ground to renewable energy in Europe

The Verge: Energy

Wind turbines and power lines can be seen against the evening sky near Leuna, Germany on October 4th, 2022. Photo by Jan Woitas/picture alliance via Getty Images The European Union saw a record drop in pollution from fossil fuel power plants last year, according to a new report.

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Britain's power grid celebrates greenest day and month on record in 2022

Business Green

More than half of the UK's electricity came from zero carbon sources across five months last year, as Britain celebrated a flurry of fresh green grid records in 2022, according to National Grid ESO. Favourable conditions then saw that record once again broken by the year-end, with 20.918GW of wind power generated on 30 December.

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How electricity demand growth is now being outpaced by new renewables generation

Business Green

A new report from think tank Ember, published this morning, has revealed that solar, wind, and hydropower additions around the world between January and June outpaced demand growth across the electricity sector. We can't be sure if we've reached peak coal and gas in the power sector," Wiatros-Motyka said.

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IRENA: Renewables provided 80 per cent of new global power capacity in 2021

Business Green

It calculates that across all countries, renewable power grew by 9.1 per cent in 2021, bringing clean energy's share of global power capacity to 38 per cent. La Camera reiterated the point writing in this week's Renewable Capacity Statistics 2022 report from IRENA. climate goal," he writes.

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Rising battery storage costs: A long-term trend or short term blip?

Business Green

The price of battery energy storage systems rose for the first time since records began in 2022, as raw material and component costs soared, and developers and system integrators increased their margins in the face of challenging economic headwinds and soaring energy costs worldwide.

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Clean energy technology supply chains must get better, faster, cleaner, says report

Envirotec Magazine

Manufacturing of cathode/anode materials, high-power grid transformers, vessels for offshore wind installations and sub-sea cable laying are highly specialised and difficult to scale. Our decarbonization targets imply a transition from an “expenditure” economy based on fossil fuels to an “investment” economy in clean energies.

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'Fundamental change': How write downs and bankruptcies are fuelling stranded asset fears

Business Green

Shell and BP are writing down assets while a raft of US fracking firms are entering bankruptcy protection – change is coming to the fossil fuel industry faster than anyone expected. The company cut expectations for Brent crude prices in 2022 from $60 to $50 a barrel, while Henry Hub US gas price projection now stand at $2.50