Green energy investments in developing countries will need to reach US$1 trillion within the next nine years for the world to reach net zero emissions by 2050, according to the International Energy Agency (IEA).
The majority of households with PV systems in East Africa have reported an increase in economic activity in the first three months of using the solar power, according to a new report from GOGLA, the global association for the off-grid solar energy industry.
California-headquartered minigrid company Powerhive, scheduled to attend Solar & Off-grid Renewables Africa in Tanzania next week, is the first private company registered as a utility in Kenya. Andy Colthorpe spoke with Daniel Porras, vice president for impact and communications and a member of the executive team.
Driven by steep cost declines in PV equipment, solar is now almost on a par with wind energy and will soon become the cheapest form of energy in developing nations, according to the Climatescope 2016 report from Bloomberg New Energy Finance (BNEF).
Industry-watchers, environmental groups and think tanks have commented on news this morning that the biggest coal mining company in the US, Peabody Energy, has filed for Chapter 11 bankruptcy protection, citing downturn in the coal industry as a major factor.
