World saw largest rise in renewable energy capacity in 2017: Report
New Delhi, June 4: Renewable power accounted for 70 per cent of net additions to global power generating capacity in 2017, the largest such increase in modern history, a report said on Monday.
But the heating, cooling and transport sectors, which together account for about four-fifths of global final energy demand, continue to lag far behind the power sector.
According to the REN21's Renewables 2018 Global Status Report, solar photovoltaic (PV) capacity reached record levels.
Solar PV additions were up 29 per cent relative to 2016, to 98 GW. More solar PV generating capacity was added to the electricity system than net capacity additions of coal, natural gas and nuclear power combined, said the report.
Wind power also drove the uptake of renewables with 52 GW added globally.
Investment in new renewable power capacity was more than twice that of net, new fossil fuel and nuclear power capacity combined, despite large, ongoing subsidies for fossil fuel generation.
More than two-thirds of investments in power generation were in renewables in 2017 owing to increasing cost-competitiveness and the share of renewables in the power sector is expected to only continue to rise.
China, Europe and the US accounted for nearly 75 per cent of global investment in renewables in 2017.
However, when measured per unit of gross domestic product (GDP), the Marshall Islands, Rwanda, the Solomon Islands, Guinea-Bissau, and many other developing countries are investing as much as or more in renewables than developed and emerging economies.
Both energy demand and energy-related carbon dioxide emissions rose substantially for the first time in four years.
In the power sector, the transition to renewables is under way but is progressing more slowly than is possible or desirable.
A commitment made under the 2015 Paris climate agreement to limit global temperature rise to "well below" 2 degrees Celsius above pre-industrial levels makes the nature of the challenge much clearer.
If the world is to achieve the target set in the Paris agreement, then heating, cooling and transport will need to follow the same path as the power sector and fast, the report warned.
Small changes are underway. In India, for example, installations of solar thermal collectors rose approximately 25 per cent in 2017 as compared to 2016.
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Woman calls out Mumbai’s ‘insane’ prices after visiting Singapore, world’s most expensive city
Mumbai: An Indian tourist recently took to social media to express her shock at the high cost of living in Mumbai, comparing it to Singapore, often ranked as the world’s most expensive city.
The woman, who goes by the name Subi on X (formerly Twitter), was surprised to find that the prices at cafes and restaurants in Singapore were comparable to those in Mumbai, particularly in posh areas like Bandra.
Subi, who visited Singapore for a week, shared her experience and called out the cost of dining out, coffee, Ubers, and other experiences in Mumbai. She termed it 'insane,' despite the significant economic disparity between the two cities.
“Was in Singapore for a week and I shook how Mumbai is so expensive when it comes to nice cafes/restaurants and going out, coffee, Ubers, experiences etc. Like Singapore was just as/very slightly more expensive as most restaurants in Bandra and that's absolutely insane,” she wrote on X.
In her post, Subi also touched on the issue of economic inequality, noting that even something as simple as a cup of coffee in Mumbai, which can cost upwards of Rs 450, has become a luxury for many. “It's because of the inequality that even little things like grabbing a coffee from a cafe is a ‘luxury’ that costs 450 rupees while most of us don't make as much as our developed country counterparts to make these expenses make sense,” she added.
Her remarks sparked a discussion, with several users attributing the high costs in Indian cities to a combination of inflated real estate prices and classism. One user opined that Indian cities are insanely overpriced for everything, adding, "I feel like it’s a combination of crazy high rents inflating everything and classism—people want to be gated away from most of society."
A user identified as Sharan Gaba pointed to Mumbai’s skyrocketing real estate prices as a key factor driving up the cost of dining out. "Real estate prices in Mumbai drive up costs for restaurants, who compensate by overcharging customers," Gaba wrote. However, Subi responded by highlighting that rent in Singapore is significantly higher than in Mumbai, yet the prices for basic services remain similar. “In India we premium-ize everything because classism and we want to keep everyone away,” Subi added.
was in Singapore for a week and I shook how mumbai is SO expensive when it comes to nice cafes/restaurants and going out, coffee, ubers, experiences etc. like Singapore was just as/very slightly more expensive as most restaurants in bandra and that's absolutely insane
— subiii (@_subiii_) November 15, 2024
