Since 2013, the value of Uganda’s oil reserves has fallen more than $40bn (70%) to $18bn. Under a low-carbon transition aligned with Paris goals, the value of the oil could drop further, to 88% of its value seven years ago.
Retiring old, inefficient coal-based power plants by bundling them with new, cheap renewable energy plants would bring multiple transformational benefits to the power sector, improve the PLF and efficiency of old thermal plants.
Indonesia has a unique opportunity to learn from past mistakes and build a recovery that improves the country’s chances for economic stability and growth.
Indonesia needs to significantly scale up climate finance in the next ten years to achieve its NDCs. CPI’s upcoming study, Uncovering the Landscape of Private Climate Finance in Indonesia, is aimed at developing a first-of-its-kind approach for tracking private climate finance in Indonesia.
India’s lightbulb moment: Not using this crisis for meaningful energy sector reform would be a waste
The trend of low power demand, now furthered in the post-COVID economy, and increased RE generation, will continue to put a ceiling on the PLF of the thermal fleet.
As we move forward past this crisis, policymakers should have resilience in the front of their minds. There are some practical steps that can be taken in our policy response not only to enable us to boost green growth and reduce greenhouse gas emissions but also to create a more resilient financial system.
David Nelson, the executive director of Climate Policy Initiative Energy Finance, presents on Market design for an integrated and RE-based energy system at IRENA’s Innovation Week 2018.