Countries have been getting together to set up funds for helping their poor counterparts battle climate change, under COP27’s Sustainable Goal plan.

The highly sought-after core skill of an individual trying to implement sustainability in the modern world is balancing the fine line between reducing carbon emissions drastically while developing technologies for the future and progress in renewable energy to protect the delicate ecosystems of our planet. 

The pursuit of a prosperous future is a promise that every individual must fulfill, regardless of the socio-economic norms of gender, status, and qualification. 

The fifth goal of the United Nations 2030 Agenda for 17 SDG Goals (Sustainable Development Goals) is Gender equality – because despite being disproportionately impacted by climate change and conflict, Women are a key fundamental force, driven to uplift the world from nearly all man-made problems. 

According to the World Bank, $15 – $30 trillion is lost in unrealised lifetime productivity and earnings, because of toxic work cultures, shrouded under a gender pay gap. 

Women In Sustainability:

Industry Leaders celebrate the achievements of Women who are challenged by gender-biased systems, pay disparity, oppression, and constant underestimation, and yet  encourage people to embrace equity. 2023’s International Women’s Day was themed beyond gender equality to acknowledge that the demand for equal opportunities can’t manifest in a world that is fundamentally unequal. Here’s a feature on 5 Women in sustainability, challenging and changing the world in five sectors: Social Sustainability, Resilience, Circular Economies, Ecosystems, and Energy. 

Social Sustainability: Mika Tosca

80 percent of people displaced by climate change identify as women, according to The Economist. The impact of climate change fueled by unsustainable development is not experienced equally by communities. Poverty is a factor of this phenomenon, and to ensure a healthier world, accountability, fair distribution of economic power, and inclusivity is a given.

In addition to pushing boundaries of investigating the link between climate change and wildfires, Dr Mika Tosca is vociferous about addressing the climate crisis, with dire urgency. As a proud transgender climate scientist and associate professor at the School of the Art Institute of Chicago, Tosca has written about the emerging synthesis and sync of art and science, environmental aesthetics, and design principles. 

She believes that in an extraordinary fashion, Art can elucidate the perspectives of inclusion and accessibility and create a platform for women to engage with each other on the climate crisis – an issue that has had a disproportionate effect.  

“We must remake our economy to work for all of us, including the global biosphere and all of its non-human inhabitants.”

Tosca believes that people are often presented with ‘corporate sustainability’ as a need to purchase sustainable products without thinking if the solution makes sense. The capitalist mentality of “Grow and Consume” needs to change, as climate change will not end with more consumption and that organizations must have a collective responsibility to transition our global economy to a more equitable and sustainable one. 

Resilience: Kotchakorn Voraakhom

Before environmental degradation reaches a point impossible to reverse, investing in resilient infrastructure, capable warning systems and nature-based solutions are the keys to helping people adapt and manage rising instances of extremities. To adapt to the changing climate, a staggering $500 billion is required annually, by 2050. 

Kotchakorn Voraakhom is a Thai landscape architect, hailed as the ‘Architect helping sinking cities fight flooding’. After the 2011 worst flooding disaster in five decades, families were left stranded in Thailand, including Voraakhom. 

Voraakhom’s accolades include TIME Magazine’s 2019 100 Next, BBC’s 100 Women, Bloomberg’s Green 30, and UN Global Climate Action award winner. Apart from building climate-resilient green spaces as buffers, Voraakhom won a contract to build Chulalongkorn Centenary Park, Bangkok’s first public park in 30 years, which was designed in a way to absorb 1 million gallons of water – an 11-acre ‘thirsty’ plot. 

“When it comes to resilient and inclusive urban design, you need to make sure that whatever you do is human-centric.”

Voraakhom has led projects that build productive green public spaces to tackle climate change in vulnerable communities and dense urban areas. She believes that people need to reshape narratives – design resilient cities from the perspective of green infrastructure and not from the traditional viewpoint of productivity and economic growth. Decision-making needs to shift to inclusivity and gender-responsive resilience.

Circular Economies: Aja Barber

The circular economy encompasses reusing, repurposing, and recycling the precious and finite resources of our planet, to take pressure off consumption whilst reducing pollution and waste across supply chains. 33 percent of the food that could be consumed is wasted each year and 91 percent of plastic is not recycled. The concept of smart cities led by intelligent business leaders is quite critical for the closure of the systemic loop. 

Being a writer, stylist, and consultant, Aja Barber’s work is based on the ideas of privilege, racism, feminism, and wealth inequality with the intersections of sustainability and fashion. Barber’s advice to young girls who are trying to break cycles of production-consumption-waste to adopt regenerative habits is to adjust and resist the temptations of buying things we may not need. Normalizing re-wearing clothes as opposed to peer pressure is the first step to a circular economy. 

Barber emphasized her experience with key issues of inequality in terms of pay, and at a societal and corporate level, and her expertise in identifying corporate blind spots. 

“Growing up with different levels of privilege makes it impossible for us to realize certain things until we screw it up.”

On how organizations should use the circular economy to address social issues like racism, gender inequality, and transphobia in the high-waste fashion industry, Barber believes that a lot of human-right violations can be solved if companies ensure that every individual in their supply chain is paid. If not, then they should reorganize the structure of their business. She strongly believes that there can’t be sustainability without fair wages for all.

Ecosystems and Resources: Lamya Essemlali 

It is surprising to believe that Agriculture is a core reason for 80 percent of global deforestation. The dual challenges of biodiversity loss and climate change are disrupting the ecosystems – the foundation of existence. Since 1975, 94 percent of biodiversity loss has been experienced in the Caribbean and Latin America. Battling this issue to protect the environment by vitalising natural resources for a thriving future, is a French-Moroccan Sea Shepherd veteran, Lamya Essemlali.

Essemlali is the founder of the French branch of Sea Shepherd in 2006 and has specialized in biodiversity conservation. Since becoming the President of the organization, she has organized more than 30 International field missions.  

As a firm activist in ocean conservation, Essemlali has experienced that women have to prove their mettle harder than their counterparts to fit into an area primarily dominated by men. Human interaction with the ocean is only linked to merchant ships, foraging platforms, or fishing vessels – competition, exploitation, and destruction. 

“Our whole society should change the nature of the human relationship with the ocean. I believe the survival of humankind depends on our ability to do so.”

On how ocean conservation can serve the biodiversity-vulnerable communities of the coastal area, especially women, Essemlali believes that the ocean is the cradle of all life, just like women’s special role of carrying a life. Many indigenous women depend on the fish in the ocean and are vulnerable to the health of the sea. 

Net Zero Energy: Glory Oguegbu

Nearly 75 percent of Greenhouse-gas (GHG) emissions are linked to the usage of Energy. To realize net zero, annual clean energy investments of $4 trillion are needed by 2050, by transitioning to energy efficiency and green finance mechanisms. 

Award-winning climate advocate Glory Oguegbu specializes in the renewable energy sector for economic growth. As the founder and CEO of Renewable Energy Technology Training Institute (RETTI), Oguegbu trains new solar designers and installers to improve the economic development of Nigeria, through the way of access to clean electricity. Oguegbu pioneered the sustainable energy conference of Africa Fellowship for Young Energy Leaders to promote Africa’s climate resilience. 

“Women’s lack of awareness of the different STEM careers in renewable energy, is a persistent challenge.”

According to Oguegbu, women have been facing barriers to entering the renewable energy sector with the perception of gender roles. Encouraged by cultural beliefs that place women ‘below’ men, the mental barrier of a female is to do a job that is fundamentally more ‘womanly’. Without realizing the profound impact of poverty and climate change on more women’s livelihoods, opportunities must be put in place to retain women’s talent, who can drive the transition to net zero. 

As global champions of small businesses, Oguegbu believes that women can reach the highest levels in the world with just smart work, determination, and grit.

The post Leading the Empowering Charge: 5 Women in Sustainability appeared first on Industry Leaders Magazine.

The IEA-predicted five-year growth forecast of renewables was superseded by 30 percent and made the renewable energy industry “the largest upward emendation” ever, crossing thresholds at a magnifying speed. Renewable energy stocks have been revolutionizing the energy share market. 

The current predicament of the energy crisis owing to the Russia-Ukraine conflict is a historic propel towards a cleaner, greener, and more secure energy system. The quadruple challenges of mounting fossil energy prices, secure energy supplies, climate targets, and energy supply disruption concerns are the driving force behind the expedited growth of wind, solar, and other renewable energies. 

14 percent of the significant increase in domestically-produced renewable energy in 2022 is credited to growth in Solar energy and Wind energy.

The Extraordinary Trajectory Of Renewable Energy

Once ruled by the environment-damaging, and climate change burning of fossils, in most of the U.S. today, Renewable Energy has become the most affordable source of energy, with Solar and Wind energy becoming the backbone of the industry expansion slated between 2022 and 2027, also one of the fastest growing sector in 2023. 

The wind energy generated in Texas reigned supreme over other cities at 26 percent of the total U.S. status quo, with Iowa (10 percent) and Oklahoma (9 percent) following suit. 

In solar energy at the national utility scale, California emerged victorious with 26 percent, with Texas at 16 percent and North Carolina at 8 percent trailing behind. 

The projected share of wind energy in the mix of electricity generation of the U.S., according to the Energy Information Administration, will hike from its 2022 average of 11 percent to 12 percent in 2023, with Solar bumping up from 4 to 5 percent during the same. In the last ten years, the stabilized cost of wind energy declined by 70 percent, and the impressive solar energy declined by 90 percent. 

The IRA (Inflation Reduction Act) inveigled the magnanimity of the renewable energy projects that went live in 2022 and is expected to continue to exert its tremendous influence on accelerating clean energy projects. 

The renewable energy industry added a surplus of 78 gigawatts of wind energy capacity, a 17 percent decline from 2021. 

2023 is the year of turnarounds and promising growth – the historic breakthrough of 1 terawatt / 1000 gigawatts of wind energy is anticipated to be installed on the global level. If policymakers fulfill the goals of strengthening supply chains in pace with demand, the 2-terawatt milestone can be achieved by 2030. 

Stalling In 2022 With Challenges

While there is a dearth of challenges, the renewable energy industry is not infallible. An EIA report found that a major segment of the country is still reliant on climate-alternating fossil fuels. Coal-generated energy accounts for about 20 percent of the market sector while Natural gas is the biggest source of electricity at 39 percent. 

“Natural Gas is a massive driver for lowering GHG emissions from electricity as it moves up to replace Coal power plants.”

But, the greenhouse gas emissions cannot continue to soar instead, need to be nixed without further ado. 

With the need for renewables on the rise, industry engineers have been debating on whether renewable energy is capable of providing 100 percent of the U.S. Electricity without backup. 

The sector of wind energy had stagnated in 2022 due to the switched government policies that spurred the ‘race to the bottom’ pricing – owing to inflation, permissible licensing rules, and hiked costs of logistics. Innumerous decisions await ahead with the propositions of supplying renewables to the energy grid, increasing. Existing energy grids were designed to carry through power from a constant source, intermittently in contrast to the contemporary demand for battery storage and long-distance transmissions.  

Solar Energy Reigns As The Most Economic Renewable Energy

The Renewable Energy industry’s year-over-year growth is forecasted at 15 percent. The Global Wind Energy Council in Brussels projected the share of electricity that could power up 657 million homes every year – 680 gigawatts of new onshore and offshore wind projects by 2027. 

China surpassed Europe in 2022 as the world’s leading offshore wind energy market and is expected to continue the glory in 2023. 

Albeit the figures for Wind energy display a rosy future of renewables, Solar energy has been the most reliant and the economic choice for renewable energy adopters in most of the world, accounting for about 60 percent of the annual expansion of the next five years, outpacing even coal installations by 2027.

The wide acceptance of wind energy analogous to solar energy is incredibly lower, making it quite a convoluted situation for new investments. 

The world could hasten the growth of renewable energy by taking calculated measures to expand grid infrastructure and secure financing in developing countries. The demand for this growth should not falter, even if tempted by the probable ease or fluctuation of fossil energy prices.

The post Energy Crosses Thresholds: Renewable Energy Industry Surpassed Fossils in 2022 appeared first on Industry Leaders Magazine.

In November 2022, the world’s population reached a new high of 8 billion from a humble 2.5 billion in 1950. The United Nations said that while it took 12 years for the figure to go from 7 billion to 8 billion, it is expected to increase by nearly 2 billion people in the next 30 years – 9.7 billion in 2050. 

As the world’s population grows, the concerns for climate change caused by traditional sources of fuel such as coal, oil and natural gas, are rising. Coastal areas are flooding, wildfires are raging and there is only limited time to combat global warming before the ramifications become permanent.

The scarcity of such resources is prompting people to invest in alternative sources of energy for the future – Renewable Energy. 

Environmental solicitude in terms of fossil fuels, economic growth in developing regions and swift urbanization, is paving the way for green energy to become one of the fastest-growing economic sectors in the last decade. 

According to a report by Statista, the global renewable energy market is expected to continue its upward trajectory in the coming years. 

Why Is Renewable Energy A Good Investment? 

Renewable energy is considered to be the way of the future. It is a way for people to change the consequences of climate change and not wait for others to fix the problem for us. The chance to aid the planet is a huge benefit but including renewable energy in your portfolio has more potential to offer. 

While traditional energy sources are experiencing volatility, investing in renewable energy is a force of stability. 

Sustainable clean energy is also enticing investors by becoming affordable. Solar energy and Wind energy are two of the fastest-growing energy sources in the world, and also the cheapest.

Previously, financial institutions had exploited loopholes to fund green energy ventures according to Guardian, by considering only green energy as money. 

The IEA’s Renewables 2022 report predicts a major shift at a time of significant volatility and geopolitical tension – renewables are proceeding to become the planet’s largest source of electricity generation by 2025, surpassing coal. 

“The first truly global energy crisis, triggered by the Russia-Ukraine conflict, has sparked unprecedented momentum for renewables.”

Amongst the green energy sector, IEA expects wind and solar photovoltaic energy to supply nearly 20 percent of the world’s power generation in 2027 whereas the growth in geothermal, hydropower and bioenergy is expected to stay limited despite their critical role in integrating wind and solar PV systems.

The amount of Greenhouse Gas (GHG) Emissions in the full life cycle of green energy projects is close to nil while the EPA recently concluded that 75 percent of the United States CO2 emissions emerge from traditional fuel combustion.

5 Best Renewable Energy Stocks To Invest In:

Biomass, Wind, Hydroelectric, Geothermal and Solar – the high potential renewable energy sources account for only 11 percent of consumption. It has become critical to diversify our supply chain and start making more investments in clean energy for a sustainable future. 

Many companies are experiencing an investment megatrend due to the favorable outlook of renewables. Global leaders have colluded to speed up the adoption of the technology and aid in the energy transition. 

In the last decade, by generating returns of 192 percent, renewable energy outperformed fossil fuel and continues to yield higher returns, corresponding to being less volatile as well. The market for renewable energy stocks looks promising and here are our recommendations for the best green energy investments one can make. These energy companies stand out from their competitors as the best stocks to buy in 2023.

Vestas Wind Systems:

Market Cap: $31.88 billion

Sector: Wind Energy

Founded in 1945, Vestas Wind Systems [CPH: VWS] is a Danish manufacturer and with 16 percent of its market, Vestas is the world’s largest wind turbine maker, present in 87 countries. Launched on the Copenhagen Stock Exchange in 1998, Vestas stock has grown 605 percent even after dropping 45 percent since January 2021 due to the Russia-Ukraine conflict. 

Divided into two businesses, namely turbine manufacturing and wind farms, Vestas has showcased its grit by delivering the best solutions for wind power than any other company. As the most in-demand clean energy solution, the company has also partnered with governments that are hoping to hasten the transition to renewables. 

With the unparalleled wind capacity of 154GW and incredible investments fueling the expansion of projects, Vestas stock downtrend appears to be short-term only. 

NextEra Energy:

Market Cap: $151.08 billion

Sector: Wind and Solar Energy

NextEra Energy [NYSE: NEE] is a diverse electric utility company founded in 1925. As one of the largest producers of solar and wind energy, NextEra generates power at its Florida utilities and sells power under PPAs to other utilities and users.

In 2022, the company unveiled its Real Zero Plan which aims to eliminate carbon emissions from its operations by 2045. With an objective to supersede natural gas in NextEra’s power plants with renewable natural gas and green hydrogen, the company has managed its financial flexibility by maintaining one of the best balance sheets in the utility sector. 

With an excellent track record of producing total returns of 1000 percent over the past 15 years, NextEra has powered its earnings per share at an 8.4 percent compound annual rate since 2005. The company anticipates delivering at least 10 percent annual dividend growth through 2024, already having earned its Dividend Aristocrat distinction for increasing its annual dividend for over 25 years, consecutively. 

Earnings are predicted to increase by nearly 6-8 percent of the annual target range by 2025, fuelled by continued investments. 

Clearway Energy:

Market Cap: $6.56 billion

Sector: Wind and Solar Energy

Deemed one of the leading owners of renewable energy facilities in the U.S, Clearway Energy is headquartered in San Francisco. Generating a steady cash flow through power-selling through PPAs, Clearway sold its thermal business in 2022 and gained $1.35 billion from cash proceeds to expand its renewable energy operations. 

Complementing its clean energy assets, the company has started to become more visible in its capability to increase its dividend. Clearway Energy continues to capitalize on newer renewable energy opportunities, expecting to hike its dividend towards an 8 percent annual target through 2026. 

Brookfield Renewable Partners:

Market Cap: $17.39 billion

Sector: Hydroelectric Power

As the global leader of hydroelectric power, Brookfield Renewable [TSE: BEP.UN; NYSE: BEP] has also been steadily soaring in its solar (utility and rooftop solar), wind (offshore and onshore) and energy storage operations. Utilizing long-term PPAs, the company has expansion to thank for its skyrocketing growth. 

Since its inception in 2011, Brookfield Renewable has generated total annual returns of 18 percent. The company’s assets include over 200 hydroelectric plants, wind farms, storage facilities and solar facilities with over 21GW power. With its headquarters in Toronto, Canada and extensive acquisitions in its pipeline, Brookfield Renewable sees immense growth ahead, estimated to be 20 percent through 2026. 

These projects will help hike the dividend between 5-9 percent annually. With fundamentals such as top-notch potential, strong management and attractive dividend yield, Brookfield sets the class apart from other green energy companies. 

SolarEdge Technologies:

Market Cap: $17.63 billion 

Sector: Solar Energy

An Israeli company established in 2006 in Delaware, SolarEdge Technologies [NASDAQ: SEDG] develops and sells battery energy storage products, solar inverters for photovoltaic arrays and other energy-related products to residential, industrial and commercial customers. 

The company has ventured into smart energy solutions with its core inverter business generating strong financials. The component of developing and manufacturing an optimized inverter system that maximizes power through solar panels. has helped SolarEdge Technologies to capitalize on the decarbonizing trend. 

Expanding into low-cost solutions, the company held nearly $1 billion in net cash in 2022. The stock achieved phenomenal success growth of 277.7 percent since 2015 making it the second-largest company in the solar sector. With a rich revenue percentage increase in the last 8 years, SolarEdge has leveraged its inverter expertise to strengthen rising sales, making it a good pick for a profit-driven investor. 

SolarEdge aims to address other market segments such as solar, uninterruptible power supplies (UPS), electric powertrains, grid service solutions, storage and electric vehicle charging through its acquisitions.

The post 5 Renewable Energy Company Stocks at the Forefront of the Energy Revolution appeared first on Industry Leaders Magazine.

But just how big are these behemoths of clean energy? And what kind of technology do they use to turn the sun’s rays into electricity? In this story, we will delve into the inner workings of the world’s biggest solar power plants and uncover the secrets of their size and success. With a combined capacity of over 15,000 megawatts, these solar giants are truly in a league of their own. 

So come with us as we explore the cutting-edge technology and awe-inspiring scale of the world’s largest solar power plants.

According to data from EcoWatch, in 2022, the United States saw a significant increase in solar panel installations, with enough panels being installed to power 22 million homes. This contributed to the global total of solar-generated electricity, which currently accounts for approximately 3.6% of the world’s electricity.

In the US alone, solar power offsets over 100 million metric tons of carbon dioxide emissions annually, helping to mitigate the impact of climate change. Furthermore, studies show renewable energy investments can be recovered within six years.

The 10 largest solar power plants in the world are listed below:

China and India currently hold the top three positions in terms of renewable energy capacity. These rapidly developing economies have prioritized the building of renewable energy sources in order to mitigate the impacts of climate change and reduce carbon emissions.

1) Bhadla Solar Park

Location – Rajasthan, India

Capacity – 2,245 MW

The Bhadla Solar Plant is the largest solar plant in the world as of 2022. The multi-billion-dollar park powers over 1.3 million homes and is spread out over 14,000 acres.

It has helped create more than 25,000 jobs, both direct and indirect, and was completed in just 18 months. The plant is a part of India’s move towards clean energy as the nation works to reduce its emission and carbon footprint. The location of the plant has been described as nearly unlivable as temperatures vary between 46 and 48 degrees Celsius.

The state of Rajasthan aims to generate nearly 25% of its electricity from renewable sources by 2025.

India is the third largest energy consuming country in the world, and has set a goal of expanding its renewable energy capacity to 500 GW by 2030.

2) Huanghe Hydropower Hainan Solar Park

Location – Qinghai, China

Capacity – 2,200 MW

Close on the heels of the Bhadla Solar Park is China’s mammoth project — The Huanghe Hydropower Hainan Solar Park developed by a state-owned power company. One of the largest solar power plants in the world, it required an investment of nearly $2.2 billion.

The plant is spread across 564 acres and became operational in 2020. It is a part of a 16GW renewable power complex.

China is on track to meet its 33% electricity consumption target from renewables by 2025 and has been aggressively building up the required infrastructure.

According to China’s energy regulator National Energy Administration (NEA), China’s installed renewable generation capacity totaled 1,063 GW in 2021, accounting for 44.8% of the nation’s total generation capacity.

The Chinese government has plans in place to build solar and wind energy generation capabilities in the desert area of north and west China.

3) Pavagada Solar Park

Location – Karnataka, India

Capacity – 2,050 MW

The Pavagada Solar Park is the third largest solar power plant in the world and second largest in India. Locally, it is also known as the Shakti Sthala Solar Power Plant.

Spread across 13,000 acres of land, the park was planned to reduce dependency on traditional power sources. It has been developed as a joint venture between the Karnataka Solar Park Development Corporation Limited (KSPDCL), a joint venture between the Solar Energy Corporation of India (SECI) and the Karnataka Renewable Energy (KREDL).

Karnataka capped new solar parks at 0.2 GW after launching Pavagada.

The park has been built on drought-hit land. Despite the switch to renewable power sources, the local community has been struggling with keeping the solar panels clean from dust.

4) Benban Solar Park

Location – Aswan Governorate, Egypt

Capacity – 1,650 MW

The Benban Solar Park is named after a Nile river village close by, and houses 32 power plants, each with a capacity of 50 MW. It will generate 1650 MW of electricity, enough to power thousands of homes and businesses.

The project site was chosen after extensive research, based on studies by NASA and other international scientific institutions. The park has four transformer stations to discharge the energy produced by the solar stations.

The entire complex helps the country avoid roughly two million tons of greenhouse gas emissions a year, the equivalent of taking about 400,000 cars off the road.

Egypt is Africa’s largest user of natural gas and oil, and the power plant will help it cut down on carbon emissions.

Egypt is considered a “sun belt” country as it receives 2,000 to 3,000 kWH/m2/ year of solar radiation.

5) Tengger Desert Solar Park

Location – Ningxia, China

Capacity – 1,547 MW

The Tengger Desert Solar Park supplies power to over 600,000 homes. The photovoltaic industrial park covers over 43,000 square kilometers and has been dubbed “The Great Wall of Solar.”

Ningxia is situated at a high altitude and has long hours of sunshine, making it ideal for energy projects.

Once the base is put into operation, its annual electricity output is set to reach 5.78 billion KW, equivalent to saving 1.92 million tons of standard coal per year. 

Today, China has the world’s largest renewable power capacity, including 323 GW of solar, around a third of the entire global total.

Experts state that China’s transformation is a lesson that the global green energy goals are achievable.

6) Noor Abu Dhabi Solar Power Plant

Location – Sweihan, UAE

Capacity – 1,177MW

The Noor Abu Dhabi Solar Power Plant has 3.2 million solar panels and provides electricity to over 90,000 individuals.

The solar plant contributes to a carbon emissions reduction of 1 million metric tons per year. It is one of the world’s largest single-site solar PV projects.

The panels are cleaned once a day by robots and do not need water. The robotic system cleans 800 km of panels every 24 hours.

It is owned and operated by the Sweihan PV Power Company (SPPC). Noor Abu Dhabi is one of the first initiatives to deliver the UAE’s Energy Strategy 2050.

According to the International Energy Agency (IEA), if the world is to reach net zero by 2050, almost 90% of electricity will need to come from renewable sources, with solar and wind likely accounting for most.

7) Mohammed bin Rashid Al Maktoum Solar Park

Location – Saih Al-Dahal, Dubai

Capacity – 1,013 MW

Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park with a planned capacity of 5,000MW by 2030. It is one of Dubai’s key initiatives to achieve the Dubai Clean Energy Strategy (DCES) 2050.

The power plant is spread across a total area of 77 square kilometers and is based on the Independent Power Producer (IPP) model.

Once completed, it will help save over 6.5 million tonnes of carbon emission annually.

The solar park also includes an Innovation Center, along with an impressive research and development center that includes PV solar and CSP testing facilities and a solar-powered water desalination plant.

In October 2022, officials announced that the plant now has a production capacity of 1,827 MW. It is part of Dubai’s strategies to provide 100% of total power production capacity from clean energy sources by 2050.

Built in stages, its sixth stage will start becoming operational in 2025.

8) Kurnool Ultra Mega Solar Park

Location – Andhra Pradesh, India

Capacity – 1,000 MW

The Kurnool Ultra Mega Solar Park is spread across 24 square kilometers and has a capacity of 1,000 MW. Situated in an arid region, the park utilizes over 4 million solar panels with capacities of 315 and 320 watts.

The solar park is a combination of state and central government partnership. The park’s energy conscious aims extend to its water needs as well. The water used to clean the solar panels is provided from a reservoir created for rain water harvesting.

Ernst & Young ranked India as one of the world’s most attractive solar markets, considering the country’s aggressive push towards renewable energy.

Energy economist Vibhuti Garg, at India’s Institute for Energy Economics and Financial Analysis, told NPR “In the financial year 2021-22, we saw a record of $14.5 billion investment in renewable energy alone.”

India’s National Electricity Plan outlines a 24% increase in solar power production targets for 2027.

9) Datong Solar Power Top Runner Base

Location – Datong City, China

Capacity – 1,000 MW

The Datong Solar Power Top Runner Base is spread across 100 hectares and has been operational since 2016.

It is the first plant to be built under a scheme agreed by the United Nations Development Program (UNDP) and Panda Green Energy’s major shareholder, China Merchants New Energy.

The project is part of China’s efforts to advance solar projects in the region. China’s usage of renewable energy sources is expected to surpass 50% as a percentage of overall energy use increments by 2025. 

As the world’s largest CO2 emitter, China is working on reducing its emissions. By moving away from coal-powered energy, it will see a reduction in air pollution and smog in its cities.

10) NP Kunta Ultra Mega Solar Park

Location – Andhra Pradesh, India

Capacity –978 MW

The NP Kunta Ultra Mega Solar Park occupies over 32 square kilometers, with the first phase being commissioned in 2016. It is also known as Ananthapuram – I Ultra Mega Solar Park or Kadiri Ultra Mega Solar Park.

The land was acquired from farmers and leased to five major private power generators. The power generated was to be purchased by the Solar Energy Corporation of India and then sold to other companies.

Currently, India has over 40 major solar plants that generate at least 10 MW of power.

According to Statista, the solar energy capacity of India peaked at around 49.7 GW in 2021.

In recent years, there has been a growing trend towards the development of floating solar farms as a means of saving land and reducing the need for additional infrastructure. Researchers have also developed solar power beams that can be beamed from space to power up systems on Earth.

The International Energy Agency (IEA) reports that the deployment of renewable electricity technologies is expected to continue at record levels, but notes that government and financial support will be crucial in accelerating the implementation of these technologies in order to reach net zero emissions goals.

The post Supercharging the Planet: The Top 10 Largest Solar Power Plants appeared first on Industry Leaders Magazine.

Giving a boost to this approach is a Stanford study that claims that switching to renewable energy will prevent blackouts and help stabilize prices. The researchers studied 145 countries and mentioned that switching to clean energy and electrifying all energy sectors is a worthy investment as all upfront costs would be recovered in just six years.

Investing in Renewable Energy

The paper published in Renewable Energy, finds that an energy system running on wind, water, and solar coupled with storage will prevent blackouts, provide cost savings, and create new jobs.

The Stanford study was led by Professor Mark Z Jacobson, professor of civil and environmental engineering at Stanford University and director of its Atmosphere/Energy Program. At the start of the paper, he mentions that global warming, air pollution, and energy insecurity are the three greatest problems faced by humanity.

To tackle energy insecurity, it is necessary to turn to renewable energy by 2035. The researchers recommend switching to clean energy to save the environment. By operating a completely clean, renewable grid may create about 4.7 million long-term, full-time jobs across various energy sectors, much more than the ones that would be lost by shutting down fossil fuel-based companies. Many research groups examined 100% renewable energy systems in one or all energy sectors and found that it is capable of keeping the grid stable at low cost.

According to Jacobson, “We do not need miracle technologies to solve these problems. By electrifying all energy sectors; producing electricity from clean, renewable sources; creating heat, cold, and hydrogen from such electricity; storing electricity, heat, cold and hydrogen; expanding transmission; and shifting the time of some electricity use, we can create safe, cheap, and reliable energy everywhere.”

Benefits of Adopting Clean Energy

Jacobson added that by switching to clean energy, worldwide energy usage will go down by 56%. One of the reasons for this saving is that combustion-based energy systems require a lot of energy just to function.

By switching to a clean, renewable energy system, costs per energy unit is reduced by an average of 12%, which results in a 63% lower annual energy cost. It also improves the health of the people, as it cuts down on pollution. Cleaner air will save around 53,200 people from pollution-related deaths every year, along with $700 billion per year savings in health costs. In 2018, air pollution from fossil fuels costs the world $8 billion a day in health and economic costs.

The World Health Organization (WHO) states that poor air quality will result in over 13 million deaths per year.

The initial investment required to bring energy systems up-to-date in 145 countries, which produce 99.99% of the world’s carbon dioxide, can go as high as $62 trillion. But it is extremely beneficial to make the switch as every year, we will save at least $11 trillion. The initial investment and more can be fully recovered within six years.

 Professor Jacobson and his team recommend switching over to renewable energy by 2035 and no later than 2050. Prices for clean energy have dropped considerably as governments offer subsidies to promote renewable energy and reduce carbon emissions.

The UN has repeatedly urged world nations to work together to achieve net zero carbon emissions by 2050. The International Renewable Energy Agency (IRENA) estimates that 90% of the world’s electricity can and should come from renewable energy by 2050. Renewable energy also offers countries a way to diversify their economies and one that is less prone to market shocks.

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Energy Crisis and the Non-renewable Energy Sources

There’s a global outcry as we are running out of fossil fuels, the only source of energy we relied upon for decades. Undoubtedly, this is high time that we look beyond the non-renewable energy sources on a war footing. Thanks to the tireless efforts by scientists, environmentalists and climate activists, we have managed to open up new horizons in the recent times, so far as the renewable energy movement is concerned. From the Finnish Sand Battery to the Swiss Water Battery, we have had some massive breakthroughs in the last one month. The dream streak of the renewable energy movement continues and now we have achieved another landmark in the form of the new BioLite BaseCharge Power Stations.

BioLite: Leading the Green Energy Revolution

Since its very inception in 2009, BioLite has been playing a pivotal role in the global green energy movement. Founded by Jonathan Cedar and Alec Drummond, the company can be called a pioneer in the green energy space for coming up with innovative smart green tools related to cooking, charging and lighting time and again. Its path-breaking journey was shaped by the iconic BioLite CampStove in a great deal. The out-of-the-box biomass stove, made up of wood and charcoal, used thermoelectric technology to generate a smokeless fire while allowing you to charge devices too!

The green energy-startup has won huge accolades for reaching out to the rural areas of Africa with its clean energy solutions. Introducing the new BioLite BaseCharge Power Stations, will surely facilitate its humanitarian work in the continent, to a great extent.

Biolite BaseCharge Power Stations Specifications

The lightweight power stations come with USB ports, standard 12-volt outlets and a larger power inverter with quite a few 120-volt outlets. Both the BioLite BaseCharge 600 and BioLite BaseCharge 1500 contain an easy-read smart LED dashboard that gives all the necessary data effortlessly. You would be able to track power input and usage, battery life, time until empty or full – everything that’s essential to keep tabs on. The BioLite BaseCharge 600 has an in-built 600-watt AC power inverter whereas the BioLite BaseCharge 1500 is equipped with a 1,200-watt AC inverter. They produce power surges up to 1,000 watts and 2,400 watts, respectively. The new Biolite BaseCharge Power Stations can be charged through the BioLite Solar Panel within a very short span of time (7 hours for the BioLite BaseCharge 600 and 13.5 hours in case of the BioLite BaseCharge 1500).

Biolite BaseCharge Power Stations Price

The new Biolite BaseCharge Power Stations are available and early-bird specials are there. The BioLite BaseCharge 600 and BioLite BaseCharge 1500 would cost you $699 and $1,699, respectively. You can place your order at www.bioliteenergy.com to get started with the sustainable way of leading a green life.

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Shifting the Sun

A team of researchers led by Eray Aydil in the Chemical and Biomolecular Engineering Department is tackling one facet of solar cells’ inefficiency – sunshine itself.

Photovoltaic arrays and cells help produce clean energy from the sun. But the problem with silicon photovoltaic cells is that they are not a perfect match for the solar energy sources. The ultraviolet rays, along with blue light, are not utilized by energy sources as they cannot be converted to energy. The researchers have been able to address this problem of wastage.

The team was able to develop a film that can be used in solar cells to shift the light spectrum – turning blue light and ultraviolet light into near infrared light – that can be utilized as a fuel source for solar cells. Altering the light spectrum comes with a mixed bag of uses for the cells.

If ultraviolet (UV) rays are directly used by the cells, it may cause them to deteriorate faster, which will result in additional charges as they will have to be replaced much earlier than expected. UV rays can also be dangerous as they can cause overheating of the panels, lowering its efficiency and increasing costs. By managing to convert these rays to the near-infrared spectrum, the researchers have been able to eliminate multiple bottlenecks in one smooth stroke.

Many researchers have time and again tried to alter the sunshine spectrum for better efficiency. Earlier attempts fell short by 30% as shifting the light by just 10% does not accomplish much. However, Aydil’s team was able to push it to over 82%, while an upcoming paper is expected to reveal that they have touched up to 95%. They are currently exploring the possibility of pushing it to 100%, wherein it will be possible to get two infrared photons out of every UV photon. The researchers are working to make it possible and to see how this will impact the efficiency of the material.

One attractive feature of this film is its elimination of lead. Lead is widely used in electrical components, but is extremely dangerous to humans. Exposure to high levels can cause everything from weakness to brain damage. Not to mention the high clean up costs. As lead is no longer part of this film, it makes the product much more attractive to buyers and producers.

Meanwhile, the team is focused on pushing it to 100% so that renewable energy can be cost effective and efficient, as the world grapples with changes brought on by climate change.

Renewable energy

Renewable energy sources, such as biomass, geothermal resources, sunlight, water, and wind, can be converted to clean energy for daily use. Although they are limited, they are naturally replenishing and available at minimal cost.

Solar energy accounted for 3.1% of electricity generation in the world, and is the third largest renewable energy behind hydropower and wind energy. Countries across the world invested heavily in solar energy as the world tries to meet its sustainable goals by 2030. However, much more effort is needed if we are to meet net zero goals by 2030. Solar PV capacity in the US and Europe witnessed double-digit growth in 2020. Germany topped the list with the highest growth.

In the last year, Asian countries have taken to building floating solar farms, which capture energy in a cost-effective manner. India and China have specially stepped out efforts to meet their energy needs using floating photovaltics. A 320 megawatt (MW) project in Dezhou, China, is the biggest floating farm to come online to date.

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The addition of renewable energy systems in the worldwide grid is commendable, but it still remains about half of what is needed annually to be on track to reach net-zero emissions by 2050, says the agency. Higher commodity prices are driving up the cost of producing and transporting solar panels and wind turbines, which in turn are undermining investments in the short term, the report said. Commodity prices and energy bills have soared, but oil and gas suppliers such as Russia’s Gazprom have reported record profits and forecast further rises.

The global energy supply shortage “definitely provides a setback, but at the same time, it shows us the way out,” Fatih Birol, head of the IEA, told the Financial Times.

But renewable energy sources remained “much more cost-competitive” than fossil fuels, and “nuclear is set to make a comeback in many countries,” Birol said. “A new global energy system is emerging.”

He added that the recent COP 26 UN Climate Change Conference sent a strong message that the era of fossil fuel was fast approaching its end despite many developing countries not fully committing to phasing out coal. Countries like India and China have promised to do their bit in bringing down fossil fuel consumption by “phasing down” the use of coal and such but have made it clear that the developing world cannot bear the burden of reducing the emissions of the developed world.

The latest IEA report forecasts that within the next five years, renewable electricity will increase its total capacity to more than 4,800GW — or more than 60 percent above 2020 levels, and the equivalent of all current global fossil fuel and nuclear capacity combined.

Renewables are set to account for almost 95% of the increase in global power capacity through 2026, with solar PV alone providing more than half. The IEA also reported that China is expected to reach 1200 GW of total wind and solar capacity in 2026 – four years earlier than its current target of 2030. India plans to double new installations compared with 2015-2020. 

Deployments in Europe and the United States are also on track to speed up significantly from the previous five years. These four markets together account for 80% of renewable capacity expansion worldwide.

“The growth of renewables in India is outstanding, supporting the government’s newly announced goal of reaching 500 GW of renewable power capacity by 2030 and highlighting India’s broader potential to accelerate its clean energy transition,” said Dr. Birol. “China continues to demonstrate its clean energy strengths, with the expansion of renewables suggesting the country could well achieve a peak in its CO2 emissions well before 2030.”

Solar PV remains the powerhouse of growth in renewable electricity, with its capacity additions forecast to increase by 17% in 2021 to a new record of almost 160 GW. Total offshore wind capacity is forecast to more than triple by 2026.

However, despite this better than expected adoption of renewable energy sources, it would still fall short of what is needed for net-zero emissions by mid-century.

Also, any inflation and commodity price increase in 2022 could raise the cost of renewable sources, especially wind energy, and even again drive up the falling cost of installation of solar panels.

“It is important that financial institutions and developed countries help [developing nations] to ‘buy out’ some of the coal plants,” said Birol. 

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The Ikea-Rockefeller platform aims to develop “distributed” renewable energy projects in the form of mini solar projects and hydropower as opposed to big power plants. The foundations have signed agreements with the International Finance Corporation, an organization affiliated to the World Bank, and the US International Development Finance Corporation and were hopeful of roping in similar agencies in Europe.

“This can be commercially viable. There’s $1 billion taking risk upfront, and that can unlock tens of billions of dollars. We’re not gambling here. We’ve seen it work in India. We know what it takes to become successful,” Dr Rajiv Shah, president of the Rockefeller Foundation, told the Financial Times. Per Heggenes, chief executive of the Ikea Foundation, said it offered a “very significant opportunity to tackle the two biggest threats in developing countries: poverty and climate change.”

Dr Shah is hopeful that the platform will become bigger and leverage its growth to become a $100 billion or even a $1 trillion funded project using its “philanthropic capital as a lever to get commercial capital”.

Dr Shah, who was a part of the Obama administration and dealt with climate change matters, said that he had seen a lot of good intentions during the Copenhagen and Paris climate change conferences as part of his official stint. “A lot of commitments made and a lot of good intentions but not a lot of execution. This has the opportunity to be the most significant, the largest-funded, investment targeting the dual objectives of lifting people out of poverty but in a climate-friendly way,” he added.

Heggenes said the Ikea Foundation viewed energy poverty as the biggest obstacle to growth in poorer countries. The two foundations want to cut 1 billion tonnes of CO2 emissions and deliver clean and reliable power to the 800 million people worldwide who lack electricity and a further 2.8 billion who have unreliable access. It will be run as a public charity.

The pandemic has set back development in poorer countries by up to two decades, said Dr Shah. He believes that it is a good opportunity to invest in environmentally-friendly economic growth way in these nations. “Now is the time to act,” he said.

He added: “Big, bold, and pioneering collaboration and investment is required not only for the short term, but also the long term, to galvanize a better future. That is why we are announcing our largest commitment to date and joining forces with IKEA Foundation to double that investment. Our partnership will unlock the financing and resources that are essential to provide clean, reliable electricity that improves the lives and livelihoods of people everywhere.”

The Rockefeller Foundation will incubate the platform in RF Catalytic Capital Inc., which the foundation launched in 2020 to offer an innovative channel for investors and governments to combine their resources for philanthropic reach.

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