Investment in new manufacturing capacity for zero-emissions vehicles, batteries, and critical minerals have jumped more than 250%, climbing from $14 billion in the year before Inflation Reduction Act’s passage to $51 billion in the year since its passage, according to the Clean Investment Monitor.
This funding will also support thousands of local clean energy jobs, help achieve President Biden’s goal of lowering energy costs for all Americans, as well as help Puerto Rico achieve its goal of 100% renewable energy by 2050. The first installations are slated to begin in Spring 2024.
Located approximately 23.5 nautical miles offshore Virginia Beach, the Coastal Virginia Offshore Wind project will provide about 2,600 megawatts of clean, reliable offshore wind energy, capable of powering over 900,000 homes, and provide about 900 jobs each year during the construction phase and an estimated 1,100 annual jobs during the operations phase.
Biden-Harris administration approves largest offshore wind project in U.S. history Read more
The new all-electric rail line, between the Indonesian cities of Jakarta and Bandung, cuts journey time from around 3 hours, down to just 45 minutes. There are plans to continue the line onwards, from Bandung city node, all the way to the eastern end of Java.
Indonesia opens Southern Hemisphere’s first high-speed train Read more
In just a span of five months since EO 21 was issued, the number of offshore wind energy service contracts awarded to qualified investors went from 38 to 78. The biggest growth in terms of gigawatts and allocation happened between August to October when the number of rose from 63 to 78 contracts with a total of 61.6 GW.
The Benban Solar Farm near Aswan, Egypt, is now the largest solar park in Africa and the fourth largest solar farm globally. At least 20,000 jobs were created for the construction of the park and 6,000 permanent jobs were created for maintenance and management.
Egypt completes massive solar farm that can power one million households Read more
Now, half of the world’s economy has already reached peak gasoline and diesel demand while electric vehicle deliveries in every segment are shooting through the roof.
China likely already hit peak oil demand in 2023 Read more
It is Germany’s largest-ever offshore wind auction and marks a substantial milestone in Germany’s quest for renewable energy expansion and is worth about $13.96 billion.
Germany successfully auctions off 7 GW of offshore wind projects Read more
Out of the 110,000 vehicles sold in Australia in September 2023, 10.6% came with a plug. Approximately 8% of these were battery electric and 2% were plugin hybrid EVs.
EVs exceed 10% of monthly auto sales in Australia for first time ever Read more
The interinstitutional agreement to phase out fluorinated gases (or F-gases) paves the way for Europe to become the world’s first HFC-free continent by 2050, setting an unprecedented environmental and climate standard on a global scale.
E.U. strikes historic deal to eliminate super-potent greenhouse gases Read more
