The nation most identified with its massive oil reserves is turning to wind and solar to generate power at home and help extend the life of its crucial crude franchise.
Chinese and Germans are among dozens of investors taking Ukraine up on its offer to turn the grounds of one of the world’s worst nuclear disasters into a massive solar park.
Thirteen international investors are among the 39 groups seeking Ukraine permission to install about 2 gigawatts of solar panels inside the radioactive exclusion zone surrounding the defunct Chernobyl nuclear plant, according to Minister of Ecology and Natural Resources Ostap Semerak. Two gigawatts is almost the capacity of two modern nuclear reactors, although atomic power unlike solar works day and night.
Solar manufacturers led by China’s Trina Solar Ltd. are probably selling at a loss after prices fell to a record low this week.
The global spot market price for solar panels fell 2.4 percent to an average of 36 cents a watt on Dec. 28, according to PVinsights.
Electric avenues that can transmit the sun’s energy onto power grids may be coming to a city near you.
Complete with 6,000 solar panels, Mineirão is the first World Cup stadium ever powered by solar energy. The plant’s installed capacity of 1,600 megawatts-hour per year (1.4 MW) is enough to power 1,200 households, according to the Brazilian federal government’s World Cup website.
While initial goals included fitting all 12 of the event’s stadiums with solar photovoltaic (PV) panels or some other form of green energy, ultimately, only a few could be completed in time.
The International Energy Agency says solar energy – a combination of solar PV and concentrated solar thermal with storage – is likely to become the dominant source of energy across the world, accounting for more than 27 per cent of all electricity produced by 2050.