Atlantic City ElectricÂ’s Blueprint for the Future

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Atlantic City Electric proposed an ambitious program for investing in innovative technologies and new measures that will help its customers manage their energy use, reduce the total cost of energy and help protect the environment.

“Energy efficiency is the lowest cost and the cleanest way to address future energy needs,” said Dennis Wraase, Chairman of the Board, President and Chief Executive Officer of Pepco Holdings, Inc., the parent company of Atlantic City Electric.

In the comprehensive plan – Blueprint for the Future – filed with the New Jersey Board of Public Utilities (BPU), Atlantic City Electric proposes new technologies that will lead the way toward reducing the amount of greenhouse gas emissions in the state by giving utility customers the tools to reduce their energy use.

“If we can provide tools for our customers - from the New Jersey shore to our nation’s capital - to reduce their electricity use, we can make a measurable contribution to meeting the nation’s environmental challenges and at the same time help customers keep their electric bills affordable,” Wraase added.

The proposals include installing “smart meters” to improve reliability and, ultimately, give customers options for lowering their energy usage and cost. The smart meters, which the company proposes to install in the homes of all its southern New Jersey customers over the next four to five years, would give Atlantic City Electric the ability to remotely identify the location of outages, resulting in quicker restoration. Smart meters also can give customers price and usage information and options for managing their electricity demand when prices are high.

For example, one proposal is for customers to receive financial incentives on their bills for allowing Atlantic City Electric to “cycle,” or intermittently turn off, their central air conditioning or heat pumps when wholesale electricity prices are high.

“Our proposal certainly complements the State of New Jersey’s efforts already underway with the Clean Energy Program, which offers rebates or other incentives for residents and businesses to update inefficient appliances with Energy Star replacements,” said Atlantic City Electric Regional President Ken Parker.

“Moreover, we commend Governor Corzine for his leadership in setting energy goals and launching New Jersey’s Energy Master Plan process, which is providing an opportunity for public discussion on key energy issues, such as reducing energy consumption, increasing renewable energy resources and addressing issues of reliability and the environment,” Parker said. “As we introduce these proposals and implement our plan, we will be listening to our customers and welcoming feedback from them.”

These environmental and conservation initiatives build on actions the company is taking at the corporate-wide level. PHI, Atlantic City ElectricÂ’s parent company, is currently using bio-diesel and ethanol blends to fuel most of its 2,000 vehicle fleet and is testing electric hybrid technology in the District of Columbia, New Jersey and Maryland. PHI plans to continue to evaluate these and other technologies to increase the number of alternative fueled vehicles in its fleet.

Recently, PHI joined the National Action Plan on Energy Efficiency Coalition, a broad-based group of utilities, environmental advocacy groups, state utility commissions and others working together on environmental issues.

As part of the filing, Atlantic City Electric proposes ways to fund the programs outlined and offered to work with the BPU to determine the most appropriate mechanisms to permit full and timely recovery of the companyÂ’s investments. The BPU will review the components of Atlantic City ElectricÂ’s proposals and will decide whether these plans will be implemented. PHI has made similar proposals in all other jurisdictions it serves.

“While we are aware that New Jersey’s energy issues cannot be solved by any one group, our customers want to know that we are doing everything we can to provide reliable service and help them cope with higher energy prices,” Parker said. “Through this plan, Atlantic City Electric is offering to help customers save money, clean the environment, and make us more energy independent.”

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More than Two-thirds of Americans Indicate Willingness to Give or Donate Part of their Income in Support of the Fight Against Climate Change

U.S. Climate Change Donation Survey reveals Americans' willingness to fund sustainability via government incentives, electrification, and renewable energy. Public opinion favors wind, solar, and decarbonization, highlighting policy support post-pandemic amid economic recovery efforts.

 

Key Points

A 2020 U.S. poll on climate attitudes: donation willingness, renewable support, and views on government incentives.

✅ 70% would donate income; 31% would donate nothing.

✅ 59% prefer government incentives; 47% support taxes, conservation.

✅ 85% land wind, 83% offshore wind, 90% solar support.

 

A new study of American consumers' attitudes toward climate change finds that more than two-thirds of respondents (70%) indicate their willingness to give or donate a percentage of their personal income to support the fight against climate change and the path to net-zero electricity emissions by mid-century. 

Twenty-eight percent indicated they were willing to provide less than 1% of their income; 33% said they would be willing to contribute 1-5% of their income; 6% said they would give between 6-10% of their income; and 3% indicated they would contribute more than 10% of their income. Just under one-third (31%) of those surveyed indicated they were unwilling to give or donate any percentage of their income to support the fight against climate change.

The U.S. findings are part of a series of surveys commissioned by Nexans in the U.S., UK and France, in order to determine public opinion on climate change and related issues in the wake of the COVID-19 pandemic. The U.S. study was conducted online by Researchscape from August 20 – 24, 2020. It had 1,013 respondents, ages 18 or older, with the results weighted to be representative of the overall population (variables available upon request).

Nexans, is headquartered in Paris with a major offshore wind cable manufacturing facility in Charleston, S.C. and an industrial cable manufacturing facility in El Dorado, Ark. The company is fully committed to fighting climate change and is helping to make sustainable electrification possible. The survey was developed as part of its celebration of the first Climate Day in Paris which included a roundtable event with world-renowned experts, the release of an unprecedented global study by Roland Berger on the challenges raised by the electrification of the world, the question of whether the global energy transition is on track, and Nexans' own commitment to be carbon neutral by 2030.

Paying the Tab to Address Climate Change

Participants were given the opportunity to choose from seven multiple responses to the question "How should the fight against climate change be paid for?" The majority (59%) replied it should be paid for by "government incentives for both businesses and consumers." It was followed by "federal, state and/or local taxes" and "conservation programs" (tied at 47%); "business investments" (42%), such as carbon-free electricity initiatives, and "consumer-driven purchases" (33%). Just 9% selected none of the above and 2% selected other.

"Through the organization of this Climate Day, Nexans is asserting itself not only as an actor but also a thought leader of the energy transition for a sustainable electrification of the world. This electrification raises a number of challenges and paradoxes that must be overcome. And it will only happen with the direct involvement of the populations concerned. These surveys provide a better understanding of the level of information and disinformation, including climate change denial, in public opinion as well as their level of acceptability of these lifestyle changes," said Christopher Guérin, CEO, Nexans.

Among other findings, 44% are dissatisfied with the job that federal and state governments are doing to address climate change, while utilities like Duke Energy face investor pressure to release climate reports, 35% are somewhat satisfied and 21% are either very satisfied or completed satisfied with government's role.

Americans expressed overwhelmingly favorable views of wind and solar renewable energy proposals, as carbon emissions fall when electricity producers move away from coal. Specifically, 85% stated being in favor of wind turbines on land (15% against), 83% in favor of wind turbines off the coast (17% against) and 90% in support of solar panel farms (10% opposed).

Those surveyed were asked about their current and changing priorities towards climate change as influenced by the coronavirus pandemic and impacts like extreme heat on electricity bills. Thirty-nine percent indicated that climate change was no more and no less a priority due to the current health emergency; just under a third (31%) indicated that climate change is more of a priority while 30% said it was less of a priority.

In similar research conducted by Nexans in the United Kingdom, nearly two thirds (65.8%) of UK respondents said they would be willing to donate part of their salary to fight climate change. Furthermore, nearly a third (29%) of the UK's consumers believe that combating climate change has become more of a priority in light of the coronavirus pandemic. The UK research was conducted online by Savanta from August 21 – 24, 2020. A total of 2210 respondents, aged 16 and above, representative of the UK population took part.

 

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Ontario introduces new fixed COVID-19 hydro rate

Ontario Electricity COVID-19 Recovery Rate sets a fixed price of 12.8 cents/kWh, replacing time-of-use billing and aligning costs across off-peak, mid-peak, and on-peak periods per Ontario Energy Board guidance through Oct. 31.

 

Key Points

A flat 12.8 cents/kWh electricity price in Ontario that temporarily replaces time-of-use rates from June 1 to Oct. 31.

✅ Fixed 12.8 cents/kWh, all hours, June 1 to Oct. 31

✅ Higher than off-peak 10.1, lower than mid/on-peak

✅ Based on Ontario Energy Board average cost

 

Ontario residents will now have to pay a fixed electricity price that is higher than the off-peak hydro rate many in the province have been allowed to pay so far due to the pandemic. 

The announcement, which was made in a news release on Saturday, comes after the Ontario government suspended the normal “time-of-use” billing system on March 24 and as electricity rates are about to change across Ontario. 

The government moved all customers onto the lowest winter rate in response to the pandemic as emergency measures meant more people would be at home during the middle of the day when electricity costs are the highest. 

Now, the government has introduced a new “COVID-19 recovery rate” of 12.8 cents per kilowatt hour at all times of the day. The fixed price will be in place from June 1 to Oct. 31. 

The fixed price is higher than the winter off-peak price, which stood at 10.1 per kilowatt hour. However, it is lower than the mid-peak rate of 14.4 per kilowatt hour and the high-peak rate of 20.8 per kilowatt hour, even though typical bills may rise as fixed pricing ends for many households. 

“Since March 24, 2020, we have invested just over $175 million to deliver emergency rate relief to residential, farm and small business electricity consumers by suspending time-of-use electricity pricing,” Greg Rickford, the minister of energy, northern development and mines, said in a news release. 

“This investment was made to protect the people of Ontario from a marked increase in electricity rates as they did their part by staying home to prevent the further spread of the virus.”

Rickford said that the COVID-19 recovery rate is based on the average cost of electricity set by the Ontario Energy Board. 

“This fixed rate will continue to suspend time-of-use prices in a fiscally responsible manner,” he said. "Consumers will have greater flexibility to use electricity when they need it without paying on-peak and mid-peak prices, and some may benefit from ultra-low electricity rates under new time-of-use options."

 

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London's Newest Electricity Tunnel Goes Live

London Electricity Tunnel strengthens grid modernization with high-voltage cabling from major substations, increasing redundancy, efficiency, and resilience while enabling renewable integration, optimized power distribution, and a stable, low-loss electricity supply across the capital.

 

Key Points

A high-voltage tunnel upgrading London's grid, with capacity, redundancy, and renewable integration for reliable power.

✅ High-voltage cabling from key substations boosts capacity

✅ Redundancy improves reliability during grid faults

✅ Enables renewable integration and lower transmission losses

 

London’s energy infrastructure has recently taken a significant leap forward with the commissioning of its newest electricity tunnel, and related upgrades like the 2GW substation that bolster transmission capacity, a project that promises to enhance the reliability and efficiency of the city's power distribution. This cutting-edge tunnel is a key component in London’s ongoing efforts to modernize its energy infrastructure, support its growing energy demands, and contribute to its long-term sustainability goals.

The newly activated tunnel is part of a broader initiative to upgrade London's aging power grid, which has faced increasing pressure from the city’s expanding population and its evolving energy needs, paralleling Toronto's electricity planning to accommodate growth. The tunnel is designed to carry high-voltage electricity from major substations to various parts of the city, improving the distribution network's capacity and reliability.

The construction of the tunnel was a major engineering feat, involving the excavation of a vast underground passage that stretches several kilometers beneath the city. The tunnel is equipped with advanced technology and materials to ensure its resilience and efficiency, and is informed by advances such as HVDC technology being explored across Europe for stronger grids. It features state-of-the-art cabling and insulation to handle high-voltage electricity safely and efficiently, minimizing energy losses and improving overall grid performance.

One of the key benefits of the new tunnel is its ability to enhance the reliability of London’s power supply. As the city continues to grow and demand for electricity increases, maintaining a stable and uninterrupted power supply is critical. The tunnel helps address this need by providing additional capacity and creating redundancy in the power distribution network, aligning with national efforts to fast-track grid connections that unlock capacity across the UK.

The tunnel also supports London’s sustainability goals by facilitating the integration of renewable energy sources into the grid. With the increasing use of solar, wind, and other clean energy technologies, including the Scotland-to-England subsea link that will carry renewable power, the power grid needs to be able to accommodate and distribute this energy effectively. The new tunnel is designed to handle the variable nature of renewable energy, allowing for a more flexible and adaptive grid that can better manage fluctuations in supply and demand.

In addition to its technical benefits, the tunnel represents a significant investment in London’s future energy infrastructure, echoing calls to invest in smarter electricity infrastructure across North America and beyond. The project has created jobs and stimulated economic activity during its construction phase, and it will continue to provide long-term benefits by supporting a more efficient and resilient power system. The upgrade is part of a broader strategy to modernize the city’s infrastructure and prepare it for future energy challenges.

The completion of the tunnel also reflects a commitment to addressing the challenges of urban infrastructure development. Building such a major piece of infrastructure in a densely populated city like London requires careful planning and coordination to minimize disruption and ensure safety. The project team worked closely with local communities and businesses to manage the construction process and mitigate any potential impacts.

As London moves forward, the new electricity tunnel will play a crucial role in supporting the city’s energy needs. It will help ensure that power is delivered efficiently and reliably to homes, businesses, and essential services. The tunnel also sets a precedent for future infrastructure projects, demonstrating how advanced engineering and technology can address the demands of modern urban environments.

The successful activation of the tunnel marks a significant milestone in London’s efforts to build a more sustainable and resilient energy system. It represents a forward-thinking approach to managing the city’s energy infrastructure and addressing the challenges posed by population growth, increasing energy demands, and the need for cleaner energy sources.

Looking ahead, London will continue to invest in and upgrade its energy infrastructure to support its ambitious climate goals and ensure a reliable power supply for its residents, a trend mirrored by Toronto's preparations for surging demand as that city continues to grow. The new electricity tunnel is just one example of the city’s commitment to innovation and sustainability in its approach to energy management.

In summary, London’s newest electricity tunnel is a major advancement in the city’s power distribution network. By enhancing reliability, supporting the integration of renewable energy, and investing in long-term infrastructure, the tunnel plays a critical role in addressing the city’s energy needs and sustainability goals. As London continues to evolve, such infrastructure projects will be essential in meeting the demands of a growing metropolis and creating a more resilient and efficient energy system for the future.

 

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Japan's power demand hit by coronavirus outbreak: industry head

Japan Power Demand Slowdown highlights reduced electricity consumption as industrial activity stalls amid the coronavirus pandemic, pressuring utilities, the grid, and manufacturing, with economic impacts monitored by Chubu Electric and the federation of electric utilities.

 

Key Points

A drop in Japan's electricity use as industrial activity slows during the coronavirus pandemic, pressuring utilities.

✅ Industrial slowdown cuts electricity consumption

✅ Utilities monitor grid stability and demand trends

✅ Pandemic-linked economic risks weigh on power sector

 

Japan's power demand has been hit by a slowdown in industrial activity due to the coronavirus outbreak, reflecting broader shifts in electricity demand worldwide, Japanese utilities federation's head said on Friday, without giving specific figures.

Electricity load profiles during lockdowns revealed changes in daily routines, as shown by lockdown electricity data across multiple regions.

Analysts have identified key shifts in U.S. electricity consumption patterns that mirror industrial slowdowns.

"We are closely watching development of the pandemic, underscoring the need for electricity during such crises, as further reduction in corporate and economic activities would lead to serious impacts," Satoru Katsuno, the chairman of Japan's federation of electric utilities and president of Chubu Electric Power Co Inc, told a news conference.

In parallel, the power industry has intensified coordination with federal partners to sustain grid reliability and protect critical workers.

Some governments, including Brazil, considered emergency loans for the power sector to stabilize utilities amid revenue pressures.

Consumer advocates warned that pandemic-related electricity shut-offs and bill burdens could exacerbate energy insecurity for vulnerable households.

 

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Cheap material converts heat to electricity

Polycrystalline Tin Selenide Thermoelectrics enable waste heat recovery with ZT 3.1, matching single crystals while cutting costs, powering greener car engines, industrial furnaces, and thermoelectric generators via p-type and emerging n-type designs.

 

Key Points

Low-cost tin selenide devices that turn waste heat into power, achieving ZT 3.1 and enabling p-type and n-type modules.

✅ Oxygen removal prevents heat-leaking tin oxide grain skins.

✅ Polycrystalline ingots match single-crystal ZT 3.1 at lower cost.

✅ N-type tin selenide in development to pair with p-type.

 

So-called thermoelectric generators turn waste heat into electricity without producing greenhouse gas emissions, providing what seems like a free lunch. But despite helping power the Mars rovers, the high cost of these devices has prevented their widespread use. Now, researchers have found a way to make cheap thermoelectrics that work just as well as the pricey kind. The work could pave the way for a new generation of greener car engines, industrial furnaces, and other energy-generating devices.

“This looks like a very smart way to realize high performance,” says Li-Dong Zhao, a materials scientist at Beihang University who was not involved with the work. He notes there are still a few more steps to take before these materials can become high-performing thermoelectric generators. However, he says, “I think this will be used in the not too far future.”

Thermoelectrics are semiconductor devices placed on a hot surface, like a gas-powered car engine or on heat-generating electronics using thin-film converters to capture waste heat. That gives them a hot side and a cool side, away from the hot surface. They work by using the heat to push electrical charges from one to the other, a process of turning thermal energy into electricity that depends on the temperature gradient. If a device allows the hot side to warm up the cool side, the electricity stops flowing. A device’s success at preventing this, as well as its ability to conduct electrons, feeds into a score known as the figure of merit, or ZT.

 Over the past 2 decades, researchers have produced thermoelectric materials with increasing ZTs, while related advances such as nighttime solar cells have broadened thermal-to-electric concepts. The record came in 2014 when Mercouri Kanatzidis, a materials scientist at Northwestern University, and his colleagues came up with a single crystal of tin selenide with a ZT of 3.1. Yet the material was difficult to make and too fragile to work with. “For practical applications, it’s a non-starter,” Kanatzidis says.

So, his team decided to make its thermoelectrics from readily available tin and selenium powders, an approach that, once processed, makes grains of polycrystalline tin selenide instead of the single crystals. The polycrystalline grains are cheap and can be heated and compressed into ingots that are 3 to 5 centimeters long, which can be made into devices. The polycrystalline ingots are also more robust, and Kanatzidis expected the boundaries between the individual grains to slow the passage of heat. But when his team tested the polycrystalline materials, the thermal conductivity shot up, dropping their ZT scores as low as 1.2.

In 2016, the Northwestern team discovered the source of the problem: an ultrathin skin of tin oxide was forming around individual grains of polycrystalline tin selenide before they were pressed into ingots. And that skin acted as an express lane for the heat to travel from grain to grain through the material. So, in their current study, Kanatzidis and his colleagues came up with a way to use heat to drive any oxygen away from the powdery precursors, leaving pristine polycrystalline tin selenide, whereas other devices can generate electricity from thin air using ambient moisture.

The result, which they report today in Nature Materials, was not only a thermal conductivity below that of single-crystal tin selenide but also a ZT of 3.1, a development that echoes nighttime renewable devices showing electricity from cold conditions. “This opens the door for new devices to be built from polycrystalline tin selenide pellets and their applications to be explored,” Kanatzidis says.

Getting through that door will still take some time. The polycrystalline tin selenide the team makes is spiked with sodium atoms, creating what is known as a “p-type” material that conducts positive charges. To make working devices, researchers also need an “n-type” version to conduct negative charges.

Zhao’s team recently reported making an n-type single-crystal tin selenide by spiking it with bromine atoms. And Kanatzidis says his team is now working on making an n-type polycrystalline version. Once n-type and p-type tin selenide devices are paired, researchers should have a clear path to making a new generation of ultra-efficient thermoelectric generators. Those could be installed everywhere from automobile exhaust pipes to water heaters and industrial furnaces to scavenge energy from some of the 65% of fossil fuel energy that winds up as waste heat. 

 

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We Need a Total Fossil Fuel Lockdown for a Climate Revolution

Renewables 2020 Global Status Report highlights renewable energy gaps beyond power, urging decarbonization in heating, cooling, and transport, greener COVID-19 recovery, market reforms, and rapid energy transition to cut CO2 emissions and fossil fuel dependence.

 

Key Points

REN21's annual report on renewable energy progress and policy gaps across power, heating, cooling, and transport.

✅ Calls for decarbonizing heating, cooling, and transport.

✅ Warns COVID-19 recovery must avoid fossil fuel lock-in.

✅ Urges market reforms to boost energy efficiency and renewables.

 

Growth in renewable power has been impressive over the past five years, with over 30% of global electricity now coming from renewables worldwide. But too little is happening in heating, cooling and transport. Overall, global hunger for energy keeps increasing and eats up progress, according to REN21's Renewables 2020 Global Status Report (GSR), released today. The journey towards climate disaster continues, unless we make an immediate switch to efficient and renewable energy in all sectors in the wake of the COVID-19 pandemic.

"Year after year, we report success after success in the renewable power sector. Indeed, renewable power has made fantastic progress. It beats all other fuels in growth and competitiveness. Many national and global organisations already cry victory. But our report sends a clear warning: The progress in the power sector is only a small part of the picture. And it is eaten up as the world's energy hunger continues to increase. If we do not change the entire energy system, we are deluding ourselves," says Rana Adib, REN21's Executive Director.

The report shows that in the heating, cooling and transport sectors, the barriers are still nearly the same as 10 years ago. "We must also stop heating our homes and driving our cars with fossil fuels," Adib claims.

There is no real disruption in the COVID-19 pandemic

In the wake of the extraordinary economic decline due to COVID-19, the IEA predicts energy-related CO2 emissions are expected to fall by up to 8% in 2020. But 2019 emissions were the highest ever, and the relief is only temporary. Meeting the Paris targets would require an annual decrease of at least 7.6% to be maintained over the next 10 years, and UN analysis on NDC ambition underscores the need for faster action. Says Adib: "Even if the lock-downs were to continue for a decade, the change would not be sufficient. At the current pace, with the current system and current market rules, it would take the world forever to come anywhere near a no-carbon system."

"Many recovery packages lock us into a dirty fossil fuel economy"

Recovery packages offer a once-in-a-lifetime chance to make the shift to a low-carbon economy, and green energy investments could accelerate COVID-19 recovery. But according to Adib there is a great risk for this enormous chance to be lost. "Many of these packages include ideas that will instead lock us further into a dirty fossil fuel system. Some directly promote natural gas, coal or oil. Others, though claiming a green focus, build the roof and forget the foundation," she says. "Take electric cars and hydrogen, for example. These technologies are only green if powered by renewables."

Choosing an energy system that supports job creation and social justice

The report points out that "green" recovery measures, such as investment in renewables and building efficiency, are more cost-effective than traditional stimulus measures and yield more returns. It also documents that renewables deliver on job creation, energy sovereignty, accelerated energy access in developing countries, and clean, affordable and sustainable electricity for all objectives worldwide, alongside reduced emissions and air pollution.

"Renewables are now more cost-effective than ever, and recent IRENA analysis shows their potential to decarbonise the energy sector, providing an opportunity to prioritize clean economic recovery packages and bring the world closer to meeting the Paris Agreement Goals. Renewables are a key pillar of a healthy, safe and green COVID-19 recovery that leaves no one behind," said Inger Andersen, Executive Director of the UN Environment Programme (UNEP). "By putting energy transition at the core of economic recovery, countries can reap multiple benefits, from improved air quality to employment generation."

This contrasts with the true cost of fossil fuels, estimated to be USD 5.2 trillion if costs of negative impacts such as air pollution, effects of climate change, and traffic congestion are counted.

Renewable energy systems support energy sovereignty and democracy, empowering citizens and communities, instead of big fossil fuel producers and consumers. "When spending stimulus money, we have to decide: Do we want an energy system that serves some or a system that serves many?", says Adib. "But it's not only about money. We must end any kind of support to the fossil economy, particularly when it comes to heating, cooling and transport. Governments need to radically change the market conditions and rules and demonstrate the same leadership as during the COVID-19 pandemic."

The report finds:

Total final energy demand continues to be on the rise (1.4% annually from 2013 to 2018). Despite significant progress in renewable power generation, the share of renewables in total final energy demand barely increased (9.6% in 2013 to 11% in 2018). Compared to the power sector, the heating, cooling and transport sectors lag far behind (renewable energy share in power, 26%, heating and cooling, 10%, transport, 3%).

Today's progress is largely the result of policies and regulations initiated years ago and focus on the power sector. Major barriers seen in heating, cooling and transport are still almost the same a decade on. Policies are needed to create the right market conditions.

The renewable energy sector employed around 11 million people worldwide in 2018

In 2019, the private sector signed power purchase agreements (PPAs) for a record growth of over 43% from 2018 to 2019 in new renewable power capacity.

The global climate strikes have reached unprecedented levels with millions of people across 150 countries. They have pushed governments to step up climate ambitions. As of April 2020, 1490 jurisdictions - spanning 29 countries and covering 822 million citizens - had issued "climate emergency" declarations, many of which include plans and targets for more renewable-based energy systems.

While some countries are phasing out coal, examples such as Europe's green surge show how renewables can soar as emissions fall, yet others continued to invest in new coal-fired power plants. In addition, funding from private banks for fossil fuel projects has increased each year since the signing of the Paris Agreement, totaling USD 2.7 trillion over the last three years.

"It is clear, renewable power has become mainstream and that is great to see. But the progress in this one sector should not lead us to believe that renewables are a guaranteed success. Governments need to take action beyond economic recovery packages. They also need to create the rules and the environment to switch to an efficient and renewables-based energy system, and action toward 100% renewables is urgently needed worldwide. Globally. Now." concludes Arthouros Zervos, President of REN21.

 

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