Gen Z [New] The European Commission has put forward a proposal to establish a €750 billion European recovery instrument, Next Generation EU, to reinforce the EU's 2021-2027 multiannual financial framework. In the case of France the proposal to reduce the share of nuclear generation from currently 75% to 50% by 2035 has been applied. Next Generation EU consists of €750 billion as well as targeted reinforcements to the long-term EU budget for 2021-2027, and is intended to bring the total financial power of the EU budget to €1.85 trillion. Unlike most of the power sector, renewable generation has shown a degree of immunity to the Covid-19 crisis, with wind and solar expected to grow in 2020. CO2 captured from cement production and power generation jointly account for almost 80% of the reduced CCUS deployment by 2040 in the Reduced Innovation Case compared to the Sustainable Development Scenario. The use of natural gas for power generation, once hailed as a cleaner, cheaper alternative to coal, is now projected to drop to 36% in 2021 from 41% in 2020. Even with renewables meeting 80% of Texas's annual electricity demand in 2030 - and more than twice its peak demand in installed wind and solar capacity - Texas would still require enough dispatchable generation to meet well over half of its peak demand. In the short term (up to the mid-2020s), natural gas will contribute about half of Hong Kong's electricity generation whereas coal will drop to about 25%. While nuclear generation is expected to decline slightly in both 2020 and 2021, nuclear energy's share of total US electricity generation is expected to rise from 20% in 2019 to 22% in 2020 and 21% in 2021. Prime Minister Narendra Modi has set the national goal to achieve 100 GW of solar power generation capacity by 2022. The UK needs to increase its capacity for renewable generation by more than 100 GW to reach its target of net zero by 2050. Colorado Springs utility board approved plans to exit coal-fired generation entirely by 2030, helping to achieve an 80% reduction in its carbon emissions in the coming decade. Natural gas demand is expected to grow more than 35% from 2017 to 2040, largely from expanding industrial activity and increasing use in power generation as utilities switch to lower-emission fuels. Solar power generation has increased by 65% during the period 2014-2019, and non-fossil fuel power generation has reached 37%, which places India ahead of schedule in achieving its NDC target of 40% by 2030. In the European Union, digitally enabled demand response could reduce curtailment of solar by 45 TWh by 2040, both boosting its share of power generation and reducing CO 2 emissions. Most of the incremental abatement comes from the power sector: by 2035 power is almost entirely decarbonized, with global emissions from power generation less than a quarter of their 2015 level. By 2040 emissions remain around 3 Gt above 2020 levels, as abatement efforts are offset by the continued use of coal for power generation in Asia's growth economies. The most significant trend in global power generation is the projected decline in the use of coal, while gas continues to grow, expecting to account for over one-fifth of total power generated by 2028. Achieving 10% of power generation from renewable sources would set us on a solid foundation to deliver the goal of 15% reduction in GHG from industry, power generation and transportation by 2030. Under any scenario and independent of the type of power generation, Italy's power grid must by expanded over the next two decades, because increased electric mobility will require additional capacity in the power grid to accommodate the higher charging loads for vehicles. China will remain the single biggest individual market driving solar power generation, with 285.7 GW of capacity addition expected over the next decade, just short of 40% of the total. In the coming years, only the producers that have mastered precision agriculture will be ready to take advantage of the fourth era, next-generation agriculture technologies. Generation from renewables is expected to grow 11% year on year in 2020, while coal generation is expected to fall 25%, which would see renewables account for a larger share of the US generation stack than coal-fired units over the course of the year. See full forecast Last updated: 09 August 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
