As global demand for energy grows, so does the world's reliance on alternative, renewable energy sources. Oil demand is expected to drop 9% and coal 8% for this year, while crude oil is at record-low prices. Itâs what gives us the ability to live comfortably in our vast state. The alternative Investment Tax Credit (ITC) provides a credit for 12%â30% of investment costs at the start of the project and is especially significant for the offshore and distributed wind sectors because such projects are more capital-intensive and benefit from the up-front tax benefits. At the end of 2020, global renewable generation capacity amounted to 2 799 GW with hydropower still accounting for the largest share (1 211 GW) although solar and wind are catching up fast. Renewable energy, even referred as clean energy, is usually derived from natural sources that are constantly replenished. 2020: Renewable energy remains resilient despite the COVID-19 pandemic. 2021: Renewable energy significantly undercuts coal. India ranks 3rd in renewable energy country attractive index in 2021. In Fiscal Year (FY) 2020, federal agencies used more than 4.7 million megawatt-hours (MWh) of renewable electric energyâ9% of total FY 2020 federal electricity use. EABF22: GET.invest introduces Team Europe One Stop Shop for Green Energy Investments GET.invest expands Capacity Development for Domestic Financiers Podcast âSolar Success in Africaâ: Season 2 now online The IEA has estimated that overall energy demand contracted by 6% and energy-related emissions will decrease by 8% for 2020. The country has set an ambitious target to achieve a capacity of 175 GW worth of renewable energy by the end of 2022, which expands to 500 GW by 2030. Wind power grew 12% and solar power grew 23% in 2020, and are on track to set new records in 2021. During the pandemic the global use of coal, gas and oil for electricity fell, yet renewable energy was resilient. The specific objectives of the Polish energy policy are as following: to increase the proportion of energy from renewable sources in final energy consumption up to 15.5% in 2020 (19.3% for electricity, 17% for heating and cooling, 10.2% for transportation fuels). Despite the Covid-19 pandemic, 2021 was a record-breaking year for investment in the energy transition and the deployment of renewable power, battery storage, and sustainable transportation, according to the 2022 Sustainable Energy in America Factbook published this week by BloombergNEF (BNEF) and the Business Council for Sustainable Energy (BCSE). Blackstoneâs commitment is one of the largest renewable investments in North American history Investment will provide significant capital to drive an accelerated build-out of Invenergyâs clean energy platform Since 2019, Blackstone has committed nearly $13 billion in investments that Blackstone believes are consistent with the broader energy transition CDPQ ⦠The 10.3 per cent rise in installed capacity represents expansion that beats long-term trends of more modest growth year on year. The global renewable energy market was valued at $881.7billion in 2020, and is projected to reach $1,977.6 billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030. ... Marathon Capital's global relationships and investment banking activities are evidenced by the successful execution of leading energy transactions. Renewables made up nearly 20 percent of utility-scale U.S. electricity generation in 2020, with the bulk coming from hydropower (7.3 percent) and wind power (8.4 percent). India is world's 3rd largest consumer of electricity and world's 3rd largest renewable energy producer with 38% of energy capacity installed in the year 2020 (136 GW of 373 GW) coming from renewable sources. In 2020, Australia produced 62,917 gigawatt-hours of renewable energy, which accounted for 27.7% of electricity production. Energy - it's what powers our lives Whether weâre at home or at work, inside or outside, energy is all around us. Please visit the Database of State Incentives for Renewables & Efficiency website (DSIRE) for the latest state and federal incentives and rebates. Chinaâs National Energy Administration (NEA) and the National Development and Reform Commission (NDRC) also plan to spend more than $360 billion developing renewable energy and creating 13 million jobs in the sector by 2020. Learn to invest your money into a clean energy future. Ernst & Young's (EY) 2021 Renewable Energy Country Attractiveness Index (RECAI) ranked India 3rd behind USA and China. Renewable energy is the fastest-growing energy source in the United States, increasing 42 percent from 2010 to 2020 (up 90 percent from 2000 to 2020). Marathon Capital is the leader in financing energy projects in the USA and Canada with a focus on renewable energy, global energy and infrastructure markets. Tax Credits, Rebates & Savings Page. Financing EU instruments and guidance to spur increased investment and greater uptake, promotion and collaboration in the field of renewable energy. According to National Electric Power Regulatory Authorityâs (NEPRA) 2020 yearly report, Pakistanâs total installed power generation capacity at 38700 MW, of which 57 percent of energy comes from thermal (fossil fuels), 31 percent from hydro, 4 percent from renewable (wind, solar and bagasse) and 8 percent from nuclear. 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