solar energy

For the last few years, countries around the world have been doing what they can to achieve net zero. The effects of the actions are also visible in Asia, and the development of, for example, solar panels may be even faster, especially in Indonesia. Changes also took place on banknotes in the UK after the death of Queen Elizabeth. Soon the image of King Charles will be officially visible on banknotes. In this article: Banknotes with a portrait of King Charles III Potential solar energy Brutal year for the cryptocurrency world UK’s new banknotes The tradition of putting monarchs on banknotes did not start until the 1960s. Coins have long featured images of the ruler. After the death of Queen Elizabeth II for 70 years, the Royal Mint began work on new banknotes with the image of the successor. The Bank of England published on Tuesday photos of the first banknotes with a portrait of King Charles III. The new £5, £10, £20 and £50 polymer notes feature the king's portrait on a transparent security panel. Other than that, they are unchanged from the designs currently in circulation. They will officially enter circulation in mid-2024. For now, coins and notes with the portrait of the late Queen will continue to be legal tender in the UK New British banknotes featuring portrait of King Charles III revealed @hannahswg https://t.co/6jW17l6SuI — Ted Kemp (@TedKempCNBC) December 21, 2022 Read next: Nike Saw Strong Demand And Raised Its Revenue Forecast| FXMAG.COM The potential of solar energy The solar PV industry in Indonesia hopes that better prospects are just around the corner as solar PV costs continue to fall and reforms improve the business case. Last year, Indonesia's energy ministry approved a new 10-year business plan that sees renewable projects account for more than half of planned new capacity, a 25 percent increase over the previous plan. Indonesian energy ministry introduced improved conditions for solar power on grid roofs, reducing permitting time and increasing export credit The regional government wants renewables, mostly solar, to drive 35 percent of the province's approximately 5 million electricity generation by 2025, and has committed to reducing emissions by 31.9 percent by 2030 as part of the plans. Which means that Indonesia is on the right track to increase the potential of solar energy. This is particularly important as the country is the world's largest exporter of thermal coal and the state-owned grid, Perusahaan Listrik Negara (PLN), relies on domestic supplies to power two-thirds of electricity production. Indonesia has more potential solar energy than all the world’s power plants combined, but the archipelago faces many challenges weaning itself off fossil fuels. Read F&D to learn why. https://t.co/6ugA46WPS3 pic.twitter.com/24andHqVuQ — IMF (@IMFNews) December 21, 2022 Brutal year for the cryptocurrency world This year has undoubtedly been brutal for the markets, including the cryptocurrency market. It was a brutal reality check for an industry that started 2022 with dreams of widespread mainstream institutional adoption, of even gold being replaced by bitcoin as a global hedge against inflation. Now time has shown that gold still has its strength in difficult times, and bitcoin turned out to be not as stable as it might seem at first. UBS strategist James Malcolm points to the growing correlation between cryptocurrencies and US small-cap stocks as evidence of how bitcoin and other tokens can survive marginally as niche, diverse assets in investment portfolios. WATCH: The year 2022 has been brutal for the cryptocurrency world. Crypto met with Fed hawkishness, the crash of stablecoin TerraUSD, and fund and broker bankruptcies. Then came the collapse of Sam Bankman-Fried's FTX exchange https://t.co/bEZ8SAKBWf pic.twitter.com/jEl4LAgRkd — Reuters Business (@ReutersBiz) December 21, 2022

Crypto Industry News: El Salvador recognized BTC as legal tender in 2021. According to the authorities, this has led to increased interest in the country in terms of tourism. Added to this is the renewable energy development program at Metapan, which aims to use solar and wind energy to power bitcoin miners. Now it turns out that Tether is one of the investors in the mentioned renewable energy project. As part of it, Volcano Energy, a 241 megawatt (MW) renewable energy center, was created in Metapan.   It is expected to generate 169 MW of solar energy and 72 MW of wind energy. The energy produced will power the BTC mines in El Salvador. Tether estimates that the park's computing power will exceed 1.3 exahash per second. This would mean that Volcano Energy would be one of the largest cryptocurrency mines in the world. Tether's chief technology officer, Paolo Ardoino, said the investment fits into a broader vision.   The company wants to invest in the production of renewable energy, as well as in mining infrastructure. Volcano Energy CEO Josue Lopez added that "over 52% of bitcoin is currently issued sustainably." It is not known exactly how much Tether invested.   The total cost will be USD 1 billion. Technical Market Outlook: The ETH/USD pair has bounced back above the level of $1,839 and is trading above the 50 and 100 MA. The next target for bulls is seen at the level of $1,913 and then possibly at the last swing high located at $1,928. The intraday technical support is seen at the level of $1,839 and $1,822. The strong and positive momentum on the H4 time frame chart supports the short-term bullish outlook for ETH.     Weekly Pivot Points: WR3 - $1,962 WR2 - $1,919 WR1 - $1,894 Weekly Pivot - $1,877 WS1 - $1,851 WS2 - $1,834 WS3 - $1,791   Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. This is the key level for bulls, so it needs to be broken in order to continue the up trend. The key technical support is seen at $1,368, so as long as the market trades above this level, the outlook remains bullish.  

One year on: America’s Inflation Reduction Act is closer to reshaping the US clean energy industry The Inflation Reduction Act (IRA) has spurred massive investment announcements in clean energy, with greater tax credit implementation clarity sustaining investor and developer appetite. The US energy industry is set to change profoundly, and the IRA is responsible for much of this – but it is not a one-stop shop.   On 16 August last year, US President Joe Biden signed the landmark Inflation Reduction Act (IRA) into law. With almost $400bn in direct funding and tax credits allocated to clean energy development, the IRA was set to have a profound impact on America's path to net-zero emissions. But one year on, we want to examine whether changes are in fact happening and whether they are going far enough. In this article, we take a look at what effects the IRA has already had since its enactment last year, and what the outlook is for America's decarbonisation journey over the next decade.     Heightened enthusiasm reflected in soaring investment announcements Of the nearly $400bn dedicated to the energy transition, $260bn will be in the form of tax credits to support not only relatively more established clean energy technologies such as wind, solar, battery storage, electric vehicles (EVs), and nuclear, but also emerging technologies such as hydrogen, carbon capture and storage (CCS), and advanced biofuels. Meanwhile, there is also significant direct funding available through government agencies such as the Department of Energy (DoE) in grants ($82bn) and loans ($40bn), which will be crucial in readying the technologies for private investment and widespread adoption across different sectors. For instance, the DoE recently announced roughly $6bn in grants to fund the decarbonisation of the most energy-intensive manufacturing sectors such as steel, cement, and chemicals. The generous financial support from the IRA is already attracting soaring investment and project development plans. The DoE’s Loan Program Office has been reviewing more than 140 clean energy financing and guarantee requests totalling approximately $121bn. In the power sector, $271bn of investment was announced during the first 50 weeks of the IRA becoming effective to develop utility-scale wind, solar, and storage projects, manufacturing facilities, supply chains, and others in North America. For project development, there was 185 GW of clean power capacity announced during those 50 weeks, which is equal to almost 80% of the current clean power capacity in the US. For manufacturing, 83 clean energy announcements were made during the same period – this would create a total of 76 GW of manufacturing capacity.    Investment announcement in clean power in the US $bn   Number of clean power manufacturing announcements in the US