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The Middle East represents a big opportunity and a very promising region for us, given the high levels of solar exposure, strong appetite for green hydrogen projects, and strategic geographic position between Europe and Asia. Territories that were largely desert in the middle of the 20th century are now thriving oil economies.
The cost of new-build onshore wind has risen 7% year on year, and fixed-axis solar has jumped 14%, according to the latest analysis by research company BloombergNEF (BNEF). New-build onshore wind and solar projects are now around 40% lower than BNEF’s global benchmarks for new coal- and gas-fired power.
Significant growth in the global middle class, expansion of emerging economies and an additional 2 billion people in the world will contribute to a 35% increase in energy demand by 2040, according to ExxonMobil’s latest Outlook for Energy report. The OECD represents the developed economies. Click to enlarge. Outlook for Energy.
The cost for these smaller nations makes up a larger portion of their economies, so before spending the money, they need to have the proper expectations. That’s a substantial amount of a country’s economy dependent on a resource that has proven to be unpredictable in the past. —Sergey Paltsev. Click to enlarge. Background.
That’s according to 2023 IEEE President Saifur Rahman , who was among the speakers from engineering organizations at the COP27 event held in Egypt in November. Hydrogen would help emerging economies meet their climate goals, lower their costs, and make their energy grid more resilient,” he said. The whole world is one grid.
Knowing how many solar panels are on a roof informs us about the maximum possible rate of local generation but not about the annual capacity factor or about the final uses of generated electricity. Egypt, for instance, is at about 1,500 kWh/year, or a quarter of the affluent rate.
Substantial emission reductions due to fuel economy standards for passenger cars are already included in the current policy scenario. A large part of this potential comes from six relatively standardized categories: solar and wind energy; efficient appliances; efficient passenger cars; afforestation and stopping deforestation.
It will generate green jobs, making Gujarat a leading exporter of green energy products and contributing to making the state into a USD 3 trillion economy. We are expanding the green supply chain and creating the largest green energy system, green electrolysers, solar panels, and manufacturing of ammonia to support green growth.”
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