Renewable Energy

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U.S. Energy Tax Credit Trading Grows to as Much as $9 billion, Study Finds

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NEW YORK, Jan 16 (Reuters) – Developers of renewable energy projects selling unused U.S. tax credits to other companies now account for a market worth between $7 billion and $9 billion, buoyed by legislation in 2022 that made these trades possible, a new study shows. President Joe Biden’s climate law aimed to stoke trillions of dollars of investment to …

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China’s Dams Are Refilling, and That’s Good News for the Climate

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Hydropower has underperformed since 2022’s historic drought, causing widespread economic pain. That’s finally changing. Visitors view the shipping locks of China’s Three Gorges Dam, where water storage is up about 25% from the previous year. Despite the much-deserved excitement surrounding China’s rapid build-out of wind turbines and solar panels, the country’s biggest source of clean energy remains one …

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China Dominates Renewable Energy and Coal Power Forecasts

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(Reuters) – China’s status as the colossus of renewable energy is set to be cemented in the next five years, with the world’s second-biggest economy adding more capacity than the rest of globe combined. The International Energy Agency said in its Renewables 2023 report, released on Thursday, that China will account for 56% of renewable …

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Renewable Energy Growth Must Accelerate to Reach 2030 Goal – IEA

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(Reuters) – Global renewable energy capacity is expected to grow by two and a half times by 2030 but governments need to go further to achieve a goal of tripling it by then agreed at United Nations’ climate talks, the International Energy Agency (IEA) said. In its annual renewable energy outlook report, the IEA said …

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Enbridge Eyes France for Offshore Wind Investments and Will Avoid U.S.

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By Rod Nickel (Reuters) – Canadian pipeline company Enbridge (ENB.TO) is keen on further offshore wind investments in France, but will avoid the United States, where cost and supply chain problems have contributed to offshore projects collapsing, a senior executive said. Rising costs have led to canceled projects in the U.S. and Britain while putting others at risk. …

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COMMENTARY: War, Wind and Solar Spell Trouble for Gas Bulls

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With supply rising rapidly and use in power generation threatened, overseas demand for LNG is the only bright spot around. By Liam Denning Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column. It is …

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Tax Officials Are Making Your Energy More Costly

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Governments have established an elaborate network of restrictions around clean technology, while fossil fuels remain largely exempt. By David Fickling David Fickling is a Bloomberg Opinion columnist covering energy and commodities. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times. After the most sustained bout of inflation in a generation, you’d think …

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HEADWINDS: Equinor, BP Cancel Contract to Sell Offshore Wind Power to New York

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(Reuters) – European energy firms Equinor (EQNR.OL) and BP (BP.L) terminated their agreement to sell power to New York state from their proposed Empire Wind 2 offshore wind farm, citing rising inflation, higher borrowing costs, and supply chain issues. “This agreement reflects changed economic circumstances on an industry-wide scale and repositions an already mature project to continue development …

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