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Analysis: Developing Countries Offer Enormous Market Potential for Long-Duration Energy Storage
Achieving deep decarbonization of the global energy system requires energy storage that can store more energy for longer durations. Lithium-ion (Li-ion) batteries, thus far, have played a key role in supporting the integration of renewable energy resources into the electric grid. But as the share of variable renewable energy in power systems increases around the world, new energy technologies that can store electricity for longer durations at low cost are needed.
- Categories
- Energy, Technology
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Press Release: First-Ever Peace REC (P-REC) Transaction Drives Renewable Energy Development in Africa
The first-ever Peace Renewable Energy Credit (P-REC) transaction has been executed by Microsoft with Energy Peace Partners (EPP) and project developer Nuru. In the agreement, Microsoft is purchasing P-RECs issued by EPP from a new solar project in the Democratic Republic of the Congo (DRC), which will directly finance the installation of streetlights in a recently electrified neighborhood of Goma, the capital of North Kivu province. The streetlights are connected to the same solar-plus-storage system which generates the electricity associated with the P-RECs. The transaction was facilitated by renewable energy, transportation decarbonization, and climate solutions specialist 3Degrees.
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- Energy, Environment
- Region
- Sub-Saharan Africa
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Jeff Bezos Unveils Sweeping Plan to Tackle Climate Change
Bezos expects 80% of Amazon’s energy use to come from renewable sources by 2024, before transitioning to zero emissions by 2030.
- Categories
- Energy, Environment