Egypt Announces Renewable Energy Feed-in Tariffs Ahead of Auction
The Egyptian government has released financial initiatives to support of sustainable energy infrastructure as the nation prepares to host landmark auctions of 4GW renewable energy capacity. The feed-in tariffs were approved ahead of a planned auction of 2 GW capacity each for solar and wind power projects. The electricity minister is hoping that the incentives will attract bidders to the auctions, and provide certainty to investors. The government is expected to launch the solar and wind auctions within the month.
IEA Says Solar Will Be Primary Energy Source by 2050
Solar will be the industrial world’s primary energy source by the year 2050, according to a report from the International Energy Agency. Solar energy technologies will make up more than 50% of the total electricity produced in the world, according to the most recent Energy Technology Perspective report. The report also predicts that China will remain the world’s largest solar PV market through 2050, making up an estimated 37 percent of total installed global PV capacity.
Sunrun Plans Expansion, Seeks to Enter New Markets and Add Workforce
The US-based solar leasing giant Sunrun is planning a country-wide expansion, aiming to enter a number of new markets and to add over 800 new employees. The plan calls for the opening of new offices in Arizona, California, Hawaii and Nevada. Boosting workforce numbers in the states of Colorado, New Jersey and New York is also in the company’s checklist. With residential installations in the country having doubled in the past two years, Sunrun is seeking for continued success by devoting resources to the improvement of its installation design and customization software as well as its quality assurance program.
Foxconn To Build a $5,000 EV for China
Mostly famous as the manufacturer of Apple’s iPhone, Foxconn is one of the biggest names in the technology world. Now, the Taiwanese tech giant is planning to move into the automotive market as it seeks to build a $15,000 electric car for consumers. The company previously announced plans to build an $811 million battery factory in China’s Northern province. Foxconn is hoping to diversify its business by first getting in on the battery electric car market, with the ultimate goal of being able to produce a price competitive electric vehicle.