May 22 Green Energy News

Headline News:

“Saudi Arabia Sets World Record For Lowest Cost Of Electricity From Wind Power” • Saudi Power Procurement Company signed two power purchase agreements with a consortium led by Japan’s Marubeni Corporation for a total of 1.1 GW of wind projects. One PPA set a record low cost of wind energy with a levelized cost of energy at 1.565¢/kWh. [ZAWYA]

“California Exceeds 100% Of Energy Demand With Renewables Over A Record 30 Days [Update]” • May 21 update: Stanford professor Mark Z Jacobson is tracking California’s renewables performance. Jacobson reports that California has exceeded 100% of energy demand with renewables at times over a record 45 days straight, and 69 out of 75. [Electrek]
“UN Maritime Tribunal Says Countries Are Legally Required To Reduce Greenhouse Gas Pollution” • A UN maritime law tribunal, the International Tribunal for the Law of the Sea, found that countries are legally required to reduce greenhouse gas pollution, a victory for small island nations that are on the front lines of climate change. [ABC News]
“WoodMac: $1 Trillion At Risk For Clean Energy Investments Under Trump” • A second Trump presidency could place a huge part of renewable energy investments at risk, increase carbon emissions by 1 billion tonnes more by 2050 and delay peak fossil fuel demand by 10 years, energy analytics firm Wood Mackenzie has predicted. [OilPrice.com]
“Climate Funding Helps US Farmers Reduce Their Energy Bills” • After reeling from soaring energy costs in 2022, when diesel prices in the US hit a record high, American farmers are taking advantage of provisions in the Inflation Reduction Act from the same year that help small farms install solar power at virtually no cost. [OilPrice.com]

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