In this week’s issue of Solar Tidbits: (1) Bill Gates Drives Force behind a $US44 million Funding Round to Accelerate Solar PV Construction (2) Solar is the Cheapest Source of Energy, and a Lightbulb Moment Revealed that We Can Cut Costs Even Further (3) Solar and Offshore Wind Power Global Renewables Investment to a New High
Bill Gates Drives Force behind a $US44 million Funding Round to Accelerate Solar PV Construction
Photo Credit: Reneweconomy
Breakthrough Energy Ventures, Bill Gates’ multibillion-dollar clean energy fund, has led a $US44 million ($A63 million) Series B funding round to automate the development, construction, and operation of large-scale solar plants.
Terabase Energy, a solar technology company that received the funding, claims to have created the first fully digital platform capable of managing the life cycle of utility-scale solar, from land acquisition to plant construction.
Terabase combines this cloud-based software with automated technologies to eliminate the manual lifting of panels and steel in an effort to shorten the labour-intensive construction process, improving health and safety outcomes for workers who frequently work in hazardous conditions.
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Solar is the Cheapest Source of Energy, and a Lightbulb Moment Revealed that We Can Cut Costs Even Further
Photo Credit: Reneweconomy
Recent extreme weather events have highlighted the importance of reducing CO2 emissions, which are raising global temperatures. This necessitates a rapid shift in the energy economy to renewable energy sources, the cheapest of which is solar photovoltaics (PV). And our recently published research suggests that we can reduce the costs of the transition even further by using cheaper forms of silicon in highly efficient solar panels.
Australia has been at the forefront of a solar PV installation, but our solar energy journey is just getting started. This year, humanity passed the 1 terawatt (TW) – 1 million watts – installed solar capacity mark. Experts predict that 70TW of solar PV will be required by 2050 to power all sectors of the economy.
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Solar and Offshore Wind Power Global Renewables Investment to a New High
Photo credit: APP
Over the first six months of 2022, global renewable energy investment reached a record $US226 billion, an 11% year-on-year increase that defied supply chain challenges and cost inflation to highlight the growing demand for clean energy.
According to BloombergNEF’s (BNEF) latest Renewable Energy Investment Tracker 2H 2022, the majority of the record-breaking first-half investment was directed toward project deployment, with $US206 billion going towards asset financing and small-scale solar projects.
Investment in new large- and small-scale solar projects reached a new high of $US120 billion in the first half of the year, up 33% from the same period last year. Meanwhile, wind energy project financing increased by 16% to $US84 billion.
More about this article: https://bit.ly/3zRmjPp