August 28, 2014 (Investorideas.com renewable energy stocks newswire) In a recent article on ScienceDaily.com, a study in the journal Environmental Research Letters estimates the world’s existing power plants will emit more than 300 billion tons of carbon dioxide emissions over their lifetimes. Just the power plants constructed around the world in 2012 alone emitted 19 billion tons of carbon dioxide, according to the study’s researcher team.
Developing nations such as China and India are what has been driving much of the explosion in airborne pollution. They have also been spiking concerns from public and private organizations worldwide as to the implications for the future. No lesser a respected authority than the International Energy Agency has spoken up on the issue. In a recent report, the IEA advocated for a quick switchover from fossil fuels to renewable energy sources for meeting rising global power demand and reducing the fast-growing environmental challenges worldwide posed by fossil fuel burning.
Currently around 68% of the world's electricity supply is generated with fossil fuels. The IEA urged that by 2050 65% of global electricity should be produced with renewable energy sources before needed transformations of the global energy system and the effects from climate change become too costly and extensive.
British Columbia-based P2 Solar is one of the forward-thinking renewable energy developers at the forefront of these efforts to build next-generation energy solutions. The company has been focused on developing solar photovoltaic (PV) power and small-hydro projects in countries where renewable energy policies are highly favorable. There are three primary clean energy projects in its portfolio: the British Columbia-based Langley Rooftop Project; and two Punjab, India-based small-hydro projects, the Rajgarh Mini-Hydro Project and the Tibba Mini-Hydro Project. P2 Solar has also been aggressively looking for new, promising opportunities to expand the global impact of its clean energy solutions agenda.
P2 Solar recently achieved a milestone with regard to its Rajgarh project that had been years in the making. Its wholly owned subsidiary in India signed a power purchase agreement with a Punjab energy distributor, which calls for a 35-year payment term at an approximate tariff of $0.10 (USD). P2 Solar believes the agreement will provide a steady, no-cost cash-flow. The wholly owned subsidiary already has permission from the Punjab Energy Development Agency, Punjab state's governing authority on all renewable energy projects, to use the canalled water. On top of developing these small-hydro projects, P2 Solar continues to look for opportunities to build up solar PV systems for large-scale commercial applications, like it did with a solar PV system on Canada Ticket's warehouse rooftop just last year.
Commercial efforts to reduce reliance upon grid electricity are driving up global demand for renewable energy sources, and P2 Solar plans to continue investing and channeling its resources to benefit from this growing global trend. As the need for renewable energy becomes more viable, the company seeks to help usher in a line of eco-friendly, sustainable power solutions that are real alternatives to carbon-emitting fossil fuels.
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