Global Renewable Energy Landscape: India Achieves Milestones, US Reverses Policies, Saudi Arabia Expands
Key Ideas
- India surpasses its target of having 50% of electricity generating capacity from non-fossil fuel sources ahead of schedule, showcasing rapid progress in renewable energy sector.
- IRENA reports a 15% surge in global renewable power capacity in 2024, with significant contributions from wind and solar projects across Asia, highlighting a positive trend in clean energy adoption.
- Saudi Arabia signs 5 solar power purchase agreements totaling 12 GW, marking a significant step towards expanding renewable energy capacity in the region.
- Australia faces challenges in its green hydrogen plan due to water shortage concerns, raising questions about the sustainability of large-scale hydrogen production in the country.
India has achieved a significant milestone by reaching the target for 50% of its installed electricity generating capacity to come from non-fossil fuel sources earlier than expected. The country's renewable power output has been rapidly increasing, with a notable decline in coal generation. Despite plans to expand coal-fired capacity to meet rising energy demands, India is focusing on ramping up solar and wind additions towards a goal of 500GW of non-fossil capacity by 2032. The Minister of Renewable Energy highlighted India's leadership role in climate solutions.
IRENA's annual report indicates a 15% growth in global renewable power capacity in 2024, driven by wind and solar projects in Asia. This surge underscores the widening gap between regions embracing clean energy and those lagging behind. In a separate development, Saudi Arabia signed multiple solar power purchase agreements, totaling 12 GW, representing a significant leap in expanding renewable energy infrastructure in the country.
On the policy front, the US under the Trump administration is moving to end subsidies for wind and solar energy projects, citing concerns about reliability, cost, and environmental impact. The executive order aims to phase out tax credits and review policies favoring renewables over other energy sources, with a specific focus on ties to foreign entities.
Australia's ambition to establish a robust green hydrogen export industry faces challenges due to water scarcity issues. The water-intensive nature of green hydrogen production raises sustainability questions, with significant water consumption required for electrolysis and purification processes. The article highlights the need for a comprehensive assessment of water costs in green hydrogen projects to ensure long-term viability amidst global sustainability goals.
Topics
India
Renewable Energy
Solar Power
Wind Energy
Electricity Generation
Policy Changes
Battery Storage
Saudi Arabia
Energy Subsidies
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