By Leah Lazer, Catlyne Haddaoui, and Jake Wellman, GreenBiz
A new report from the Coalition for Urban Transitions, “Climate Emergency, Urban Opportunity,” finds that low-carbon cities can reduce emissions while offering tremendous economic opportunities. Researchers found that investing in 16 low-carbon measures in cities could cut global urban emissions by 90 percent by 2050 and has a net present value of almost $24 trillion, equivalent to nearly one-third of the global GDP in 2018. This means that between now and 2050, the total benefits of these investments will exceed their total costs by almost $24 trillion. Broken down by years, an average annual investment of $1.8 trillion (about 2 percent of global GDP in 2018) would yield returns of $2.8 trillion per year by 2030, and $6.9 trillion per year by 2050. Read more here.
Photo Credit: Keith J. Semmelink / Flickr – Omaha skyline
ALSO IN THE NEWS
- Solar-powered bond investments starting at $1,000 in Virginia, PV Magazine
A Virginia solar power developer is seeking to crowdfund just over $460,000 to invest in 1.3 MW of solar power projects located on schools and other institutions with no tax liability.
- Report: Closing Coal Plants Would Save Indiana Customers Money, Reduce Pollution, WBOI-NPR
The faster Indiana can transition from coal to renewable energy sources, the better for Indiana customers. That’s the takeaway from a new report prepared for the 21st Century Energy Policy Development Task Force charged with creating a statewide energy plan.
- All-electric homes offer a prototype for low-carbon housing in Colorado, Energy News Network
- Minnesota co-ops tap on-bill financing to help shift consumption overnight, Energy News Network
- Sherburne County may require solar farms to be pollinator friendly, Agri News
- It’s time for companies to make the leap from action to advocacy, by Bill Weihl, former Facebook Director of Sustainability, GreenBiz. So here’s my call to action to companies: go “all-in” on climate, not just in your operations, your supply chain and your products, but in your advocacy. Stop supporting climate deniers — whether politicians, think tanks or trade associations — and start using your influence to help pass policies that will drive the transformations we need. In other words, adopt a science-based climate policy strategy. The principles above are a good starting point.
- Wells Fargo, Walmart enter renewable energy deals, American Public Power Association
- Clean Energy Deal Tracker: This corporate renewable thing is kind of a big deal, GreenBiz
With hundreds of companies committed to reaching 100 percent renewable energy and many more aiming for some sort of renewable target, there are more buyers than ever.
- The new labeling scheme designed to help companies go carbon neutral, GreenBiz
REPORT: UTILITIES’ SELF-SCHEDULING COSTS FOR RATEPAYERS
Inefficient coal plant scheduling cost ratepayers $3.5B from 2015 to 2017, report says, by Catherine Morehouse, Utility Dive. Regulated utilities cost ratepayers over $3.5 billion from 2015 to 2017 through uneconomic coal practices, according to a report released Tuesday from the Sierra Club. Vertically-integrated utilities consistently operated coal units based on their own scheduling rather than relying on market signals to determine when running that plant would be most economic, the report found. The practice, known as self-scheduling, became common when there were fewer cost-effective alternative resources, but now hinders the ability of other resources, wind and solar, to compete in power markets, research has previously found.
GLOBAL COAL DIVESTMENT
Over 100 and counting, Institute for Energy Economics and Financial Analysis
To date, over 100 and counting globally significant financial institutions have announced their divestment from coal mining and/or coal-fired power plants. New announcements are occurring on average every week.
#Solar100’s Adam Browning: The Michael Jordan of Solar Policy, PV Magazine
In this #Solar100 interview, Richard Matsui, Founder and CEO of kWh Analytics, speaks with Adam Browning, Executive Director and Co-Founder of Vote Solar.
- #StorageITC: ‘No other policy can accelerate energy storage industry as quickly’, Energy Storage News. At the moment, energy storage projects are eligible for the solar ITC – itself the subject of strong stakeholder advocacy and lobbying at the moment – but only if installed simultaneously and co-located with the solar power generation.
- Hydrogen Energy Storage Markets 2019 – Global Forecast to 2024, PR Newswire
The global hydrogen energy storage market is projected to reach USD 18.2 billion by 2024 from an estimated USD 13.7 billion in 2019, at a CAGR of 5.8% during the forecast period.
- Tesla breaks storage records in Q3, PV Magazine
- More Than Half of NextEra’s New Solar Projects Include Storage, Greentech Media
EV Connect Raises $12M for Electric Vehicle Charging Software, Greentech Media
The L.A. startup wants to let customers mix and match charging hardware and software controls to suit their needs.