Tag Archives: solar energy

Financing the Transition to Renewable Energy

The rise of renewable is no news; but the transition is not so clear for many actors in the sector, both enthusiasts and those impacted by the shift. Harvard Business Review has recently been looking deeper into the question of financing  the transition to renewable energy from two different perspectives: coal workers and industrial firms.

What If All U.S. Coal Workers Were Retrained to Work in Solar?

Young coal workers, in particular, should consider retraining for a job in solar now. In fact, Research from Oregon State University suggests most coal workers should start thinking about retraining now.

The study quantified the costs and benefits of retraining such workers in solar technology and explores different alternatives to finance the shift. It identifies four different ways of financing such a shift from individual funding options, company sponsored retraining, state driven programmes and federal government initiatives.

It concludes that in general after retraining, most technical workers would make more in the solar industry than previously in coal because there is a wide variety of employment opportunities in the solar industry, and that the annual pay is attractive at all levels of education, with even the lowest skilled jobs paying a living wage.


How Industrial Firms Invest in Renewable Energy, Affordably

Big companies have been buying a lot of clean energy;  but making it work in terms of costs and accounting can be a hurdle for industrial companies. HBR draws lessons from Owens Corning execs and how they laid out the strategy to get over the hurdles that industrial companies face when investing in renewable energy in order to add value  to the company, and the environment.

Ghana looks for $1bn renewable energy investment

A representative of Ghana’s energy ministry has said that the country is on the lookout for $1 billion worth of investment in renewable energy technology over the next eight years.

The African state was the first developing nation to engage with the UN’s Sustainable Energy for All initiative, and has a target to produce 10% of its electricity from clean sources by 2020. And according to Seth Mahu, deputy director of the country’s energy minister, Ghana is seeking large sums of investment in renewable resources to help it to meet this objective.

Policies are in place to exploit the country’s energy potential in solar, biomass, wind, as well as mini-hydro”, Mahu told The Washington Post.

We are looking at both Ghanaian and non-Ghanaian private-sector operators partnering government to develop these resources.”

As of November last year, 77% of the country’s population had access to electricity, and coming before its renewable energy aspirations is a need to provide affordable power to all communities by 2020.

The National Electrification Scheme was set up in 1989 in order to achieve this goal – a time when only a quarter of the country’s population had access to electricity.

Speaking at a forum in Ghana’s capital Accra on Friday, Adotei Brown, president of the Ghana Institute of Architects (GIA), said that urgent measures need to be taken in order to capitalise on the country’s abundant clean energy resources.

Heavy demand on power generation must lead to the use of the sun’s energy in every building and that the need to recycle water and waste and reduce air-conditioning heat-loads on our buildings may be ignored only to our peril”, he said.

For a country that has experienced significant power cuts over the last three months after a ship damaged a natural gas pipeline off the coast of Togo, Ghana’s ambitious call for renewable energy investors is much-needed.

It now has the difficult task of balancing sustainable energy with widespread access to energy – an undertaking that its clean, renewable resources can help it achieve.

Asia’s largest PV airport takes off

The agreement to develop an 11.6 MW installations at Japan’s New Kansai International Airport has been reached. The installation will be the biggest solar installation at an Asian airport. more here

EU Energy Initative

Ghana Capital Partners CEO Sidney Yankson attends an EU Energy Initiative Partnership Dialogue Facility event held in Brussels hosted by the Africa-EU Energy Partnership (AEEP) and the Africa-EU Renewable Energy Cooperation Programme (RECP) with a focus on improving and increasing access to modern, affordable and sustainable energy services in Africa.