• 世界杯开幕 长春街头商家狂蹭热度 2019-04-24
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  • 您要明白的是,如果按照上海市的人口基数2500万计算的话,就算有100万的服务人员,平均每人也要保障25个人的预约服务.人要理性 2019-03-20
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  • 云南十一选五口决:How Cheap Money Can Help Save the Planet

    New report pinpoints how concessional finance can make wind, solar, and batteries cost-competitive faster in developing countries, accelerating the shift from fossil-fuelled power.

    Washington, New York and S?o Paulo, February 20, 2019 – Cut-rate financing has the potential to substantially speed the transition from fossil-fuelled power generation to renewable energy in developing countries, according to a new report produced by BloombergNEF (BNEF) and commissioned by the Clean Technology Fund (CTF), a program of the $8.3 billion Climate Investment Funds (CIF). That, in turn, could potentially slow or even halt the rate of CO2 emissions growth in these less developed countries.

    Development finance institutions (DFIs) can lend concessional capital to projects in non-OECD countries at interest rates well below those they might ordinarily offer. Such funds have historically been strategically deployed to support ventures regarded as particularly risky. For years, concessional finance has been recognized as a “secret sauce” for accelerating development of low-carbon technologies in emerging economies. Pairing clean energy with affordable, flexible financing can make infrastructure like wind or solar power more cost-competitive, even more so than fossil-fuel sources.

    The new BNEF and CTF report—Clean Technology Fund and Concessional Finance: Lessons Learned and Strategies Moving Forward—quantifies for the first time how much reduced-price cash can lower the “levelized cost of energy” for different clean energy technologies in specific countries. It then identifies two critical “tipping points” when clean energy becomes more viable than its fossil competitors:

    Tipping Point 1: When a clean energy facility becomes cheaper to build than a new gas or coal plant. In developing markets where this has not yet occurred, this could take five to ten years from today to achieve, or even longer. BNEF’s analysis, however, found that concessional finance can shave years off this timeframe. In Thailand, for example, concessional finance has the potential to reduce clean energy costs by five to seven percent, which would accelerate this tipping point by two years and prevent new fossil fired plants from being built. When a market crosses this threshold, building a clean energy facility is not only the right thing to do—it’s the most economically sensible thing to do.

    Tipping Point 2: When building a new clean energy facility becomes cheaper than running an existing gas or coal plant. Longer term, to address climate change, some of the existing dirtiest sources of power will need to be replaced—without sacrificing countries’ development goals. In the case of India, which installed a coal-fired fleet one third the size of the United States’ in just five years, BNEF found that concessional finance could bring forward this tipping point for new wind plants by as many as four years. This is a critical step towards the deep de-carbonization needed to reach a 2-degree world, as there are hundreds of gigawatts of coal capacity that will keep running for decades unless a more profitable choice is available.

    The report also found that there is vast potential for concessional finance to create markets for next-generation low-carbon technologies, in particular batteries. As generation from intermittent sources such as wind and solar grows so does the need for grid flexibility and energy storage. While batteries are still expensive, BNEF found that the higher the cost of a technology, the greater the potential impact concessional finance can make. For a lithium-ion battery project, reducing capital costs by even one percentage point can reduce energy generation costs by $10/MWh.

    “Concessional finance has the potential to take developing nations’ clean energy markets to the next level,” said Luiza Dem?ro, lead author of the report and director of BNEF’s annual Climatescope project profiling clean energy investment conditions in over 100 developing countries. “With access to cheaper finance, many emerging countries would be able to kick-start their battery storage sectors and avoid capacity additions from fossil fuel-fired plants.”

    The report also looks at the impact of an approximately $750 million share of concessional funding from CTF across the following five countries: Chile, Kazakhstan, Mexico, Morocco and Thailand.

    “Concessional finance has a proven ability to push the boundaries of clean innovation, “said Mafalda Duarte, head of CIF. “Over the next ten years and beyond, this capital will be essential to fighting climate change and building a more prosperous future for all.”

    A full copy of the report can be downloaded here.

    ?

    Contact
    Veronika Henze
    BloombergNEF
    +1-646-324-1596
    [email protected]

     

    About CIF

    Established in 2008, the $8.3 billion Climate Investment Funds is one of the largest climate financing instruments in the world. CIF provides developing countries financing for climate-resilient and low-carbon development. These grants, concessional loans, risk mitigation instruments, and equity leverage significant financing from the private sector, MDBs, and other sources. Five MDBs—the African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), Inter-American Development Bank (IDB), and World Bank Group (WBG)—implement CIF-funded projects and programs.

    About BloombergNEF

    BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

    Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
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  • 世界杯开幕 长春街头商家狂蹭热度 2019-04-24
  • 王杰的专栏作者中国国家地理网 2019-04-22
  • 感触名家笔下的端午文化 吃香粽原来可以这样"文艺" 2019-04-22
  • 商务部新闻发言人就美白宫6月18日声明发表谈话 2019-04-20
  • 河北省纪委通报8起扶贫领域违纪典型问题 2019-04-05
  • 今年全军院校将招生三万余名 2019-04-05
  • 银河系神秘微波辐射来自钻石星尘 2019-04-04
  • 醉心水墨长河 情系两岸文缘——专访台湾著名画家江明贤 2019-03-27
  • 认识【转基因的各种破坏力】,其实很简单,只需【化验员】扒开种植【转基因农作物】的【泥土】,拿到【化验室】在【显微镜】下面看一看其【泥土】里面还有没有【微生物】的 2019-03-22
  • 您要明白的是,如果按照上海市的人口基数2500万计算的话,就算有100万的服务人员,平均每人也要保障25个人的预约服务.人要理性 2019-03-20
  • “德国战车”成了“老爷车”? 卫冕前景令人担忧 2019-03-20
  • [鄙视]把祖宗十八代都抹除了的不孝子孙才是吃狗粮长大滴! 2019-03-19
  • 香油-热门标签-华商生活 2019-03-16
  • 第五届中国—亚欧博览会 2019-03-16
  • 2015科教频道中秋晚会《天涯共此时》 2019-03-12
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