The private-sector arm of the World Bank, which claims to leverage $3 of its own capital and $8 from third parties for every dollar invested in its blended finance funds, has attempted to quantify what devoting Covid recovery funds to green investment would mean for emerging economies.
The nation is already firmly positioned to lead the world in the clean energy revolution. Consolidating this position would unlock significant economic growth and competitiveness by attracting domestic and foreign investment, creating jobs, and improving public health.
The latest edition of the Global Off-grid Solar Market Report by the World Bank and GOGLA has called for regulatory and financial support to help off-grid distributors create jobs lost to the Covid-19 pandemic.
Swiss-based SmartHelio claims to have witnessed a near 200% jump in demand for its deep-data driven solar asset management solution, which plugs into solar panels or energy storage systems. Sales of the internet-of-things enabled, cloud product have leapt in the last six months.
Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.
Faced with raw material and labor shortages, solar manufacturers have stressed the need to find alternative supply chains and to push automation and internet of things applications on the factory floor to keep production running.
The developer is reported to have exercised an option to double the 4 GW of solar generation capacity and 1 GW of cell and module production facilities it secured in the manufacturing-linked solar tender carried out by the Solar Energy Corporation of India in November.
Covid-19 crisis has provided system operators with insights on keeping the grid stable with high levels of renewable penetration. Post Covid-19, this may be the new norm, Gautam Adani said in a LinkedIn post recently.
The prime minister again emphasized the need for India to develop a domestic solar manufacturing industry and also urged officials to get on with plans to make Ladakh carbon-neutral.
The country earned a score of 6.3 on a 10-point scale on the basis of its investment, partially usage or plans to use renewable energy in the near future—in a study by UK based analytics firm British Business Energy. The USA ranks first with a score of 7, followed by Brazil at 6.5.
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