Indonesia Has Potential In The Development Of Solar Energy
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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
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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
