The new energy world is full of ambition about future developments, not least nuclear. At some point hard questions have to be asked and answered. Dan Yurman is asking questions about next generation Small Modular Reactors (SMRs). For example, why take on the unknown material and regulatory risk of SMRs over the known risks of proven LWRs? Which governments and/or investors will back the $500m needed to get an SMR into production? Where are the … [Read more...]
Children today must emit eight times less CO2 than their grandparents
No wonder young people have taken the reins of the climate demonstrations away from the adults. Zeke Hausfather at Carbon Brief shows that the global budget for avoiding warming of 1.5C or 2C has already been mostly used up. To put that in numbers, if children emit like their parents they’ll exhaust their carbon budget in just 9 years. It’s why emissions must peak in the next few years and then rapidly decline to hit the Paris targets. That’s … [Read more...]
Less politically centralised, can the EU remain a transition leader?
As a region the EU is a transition leader. Its primary energy consumption increased by only 0.2% in 2018 (globally it rose by 2.6%) and its CO2 emissions dropped by 1.7% (globally, up 1.7%). But the EU’s move towards greater “subsidiarity” and devolution of power, to counterbalance too much centralisation, has made it harder for the EU to act quickly and act big, says Lucien Chabason, Senior Advisor at the IDDRI. One example: how easily can … [Read more...]
PPA 2.0: future-proofing corporate energy funding
Power purchase agreements (PPAs) are a significant tool for funding the energy transition. Research by DNV GL suggests that, as renewable energy becomes more widespread, its price dynamics becomes more complex, and that matters to PPAs. Some governments are looking to phase out subsidies and feed-in tariffs, effectively softening their price guarantees. Also, as renewables generation grows, market prices can fall. Martijn Duvoort, Director Energy … [Read more...]
UK: Despite progress, 100% low-carbon is still a long way off
The UK transition is often cited as a success story. Coal’s contribution has dropped from 40% to 6%. Wind, solar and hydroelectric now generates more electricity than nuclear. Demand for electricity has also fallen. The carbon intensity of Britain’s electricity has almost halved, from over 500g of CO₂ per kilowatt-hour in 2006 to under 270g in 2018. The National Grid now expects to be able to operate a zero-carbon electricity system by 2025. But … [Read more...]
Should electric vehicle drivers pay a mileage tax?
In the U.S., EV drivers don’t pay tax when they buy gasoline. That means EVs have reduced U.S. gasoline tax revenues by $250m annually. It’s only 1% of the total, but that’s because EVs are less than 1% of the vehicle stock. Clearly, as EV numbers increase, so will that lost revenue. As a result, several states are considering imposing a mileage tax on electric vehicle drivers to make up for it. And why not?! EVs are not carbon-zero (most … [Read more...]
Next generation nuclear: 25MW, smaller, safer, can be sited anywhere
Dan Yurman looks at plans for Small and Micro Nuclear Reactors. A UK report on Micros that generate 30MW says it’s an opportunity for the country to own the IP and export units that are simple in design, factory constructed and capable of being sited in remote locations. Given the rough ride nuclear can get, the report warns that progress will depend on political, regulatory and financial support. Meanwhile, in the US, Westinghouse will have a … [Read more...]
“Responsible” ESG investments hit $20tn, a quarter of the world’s professionally managed total
ESG (Environmental, Social and Governance) factors measure the sustainability and ethical impact of an investment. ESG includes the energy sector, and the amounts spent show it’s no longer just an ethical choice, says The Rocky Mountain Institute’s Todd Zeranski. It doesn’t just save the planet, it saves our pensions. Why? From regulatory penalties to the cost of climate clean-up, fossil fuel investments are getting too risky and expensive. Those … [Read more...]
1.5°C: IEA’s scenarios will fail, need urgent review says letter from experts, business leaders
The letter’s signatories – experts, business leaders, politicians and more - call on the IEA to make the 1.5°C target the central scenario in its highly influential annual World Energy Outlook. At present, its “New Policies Scenario” puts us on track for between 2.7°C and 3.3°C. That's a problem, because too many energy decision-makers cite it as an acceptable guide, making it a self-fulfilling prophecy. Even the “Sustainable Development … [Read more...]
Alternative fuels: Europe’s infrastructure struggling to keep pace
When it comes to the promotion of electric and hydrogen vehicles, Europe is struggling to match policymakers’ utopian rhetoric. The technology from the likes of ABB and Schneider Electric is ready but much more needs to be done for both hydrogen fuelling and EV charging infrastructure. Gaurav Sharma spoke to some of the industry leading lights at CERAWeek. … [Read more...]
Barriers to intermittent renewables and battery storage come tumbling down
The astonishing growth of the renewable energy sector shows little sign of slowing, as costs continue to plummet, along with the cost of energy storage, to remove many of the barriers to using intermittent renewable generating sources in a range of applications. Much of this is down to the fact that the cost of battery energy storage is one third lower than this time last year. … [Read more...]
Competitive battery storage: InnoEnergy doubles prize to accelerate start-ups entry to market
Utilities and other investors are putting more funds than ever into a battery storage market worth an estimated $250 billion. Right on cue, European clean energy innovation engine InnoEnergy announced a global call for storage entrepreneurs. Their €100,000 first prize meant applications from a diverse range of start-ups flooded in. But which of these should be fast-tracked into this competitive market? At a special event which highlighted a … [Read more...]
Small nations have big plans for nuclear energy
Dan Yurman looks at how small nations are trying to increase their nuclear supply. Romania has the US and China both pitching for business. The Czech Republic is still vague about giving electricity price guarantees, something that caused the collapse of a $25bn nuclear tender in 2014. Ukraine looks at Small Modular Reactors. The author starts with the Baltics – net importers of electricity – and Estonia’s ambition to redress that balance using … [Read more...]
Global ‘sectoral’ treaties, legally binding corporate targets can turn around emissions rise
The United Nations Framework Convention on Climate Change started with a top-down legally binding Kyoto Protocol and ended up with a bottom-up ‘self-determined’ voluntary Paris Agreement, says Chandra Bhushan. As a result, nobody has the tools to drive global collective action to combat climate change. The author says that’s why emissions are at record levels. He recommends international ‘sectoral’ treaties to achieve real transition in energy, … [Read more...]
We need to trace the real fossil fuel users, not just the “end consumers”
Climate-consciousness is rising among ordinary citizens. But most fossil fuels are consumed by large technological systems (electricity networks, urban transport systems, built environments, industrial and agricultural systems), not by individuals. Simon Pirani says we need to trace that consumption to its true source, and thereby put the pressure directly on them to transition. It’s not simple: even the IEA admits it loses track of who is … [Read more...]
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