Headlines like “Revealed: more than 90% of rainforest carbon offsets by biggest certifier are worthless, analysis shows” tell of the big problems faced by Voluntary Carbon Markets (VCM). VCMs are markets for buying, selling, and investing in carbon credits tied to avoided, reduced, or removed greenhouse gas emissions. But they are struggling to define, measure, verify, and value carbon credits in an efficient, transparent, and standardised … [Read more...]
Formula 1’s energy efficiency innovations for road transport are being wasted
Formula 1 racing is infamously emissions intensive. But the pressure to win is a pressure to innovate and raise energy efficiency, supported by an extravagant budget. Maximilian Auffhammer at the Energy Institute at Haas looks at what has been achieved over decades, and what has – and has sadly not – been translated onto our roads. The earliest cars had 4.5L engines that produced 400 horsepower, refuelled during the race. Today’s cars have 1.6L … [Read more...]
Jobs in the new clean energy economy: where are they, what are they, and how to find one
According to IEA figures, in 2019 the energy sector employed over 65m people, 2% of the global workforce. Half of that workforce is already in the clean energy sector, and demand for skilled employees is soaring. Whereas fossil jobs are heavily weighted to low skilled and very high skilled, most clean energy jobs are at the high end. Helena Uhde at Ea Energy Analyses looks at this new world, explains the differences, and notes that although … [Read more...]
Electrochemical Carbon Capture: a cheaper one-step process, power by clean energy
Carbon capture is expensive. Hence continuous attempts in laboratories around the world to find new ways to capture CO2 that are simpler and cheaper. One problem with the traditional method is that it is a two-step process, and energy intensive (therefore powered by high-heat fossil fuels). Jennifer Chu at MIT describes a new electrochemical method that separates out CO2 in a single step, and it’s powered by clean energy. It’s particularly … [Read more...]
Scaling up global grid-scale Storage to 80GW/year (it was 16GW in 2022)
Globally, annual additions of grid-scale battery storage must rise to 80GW between now and 2030, explain Amit Jain, Gabriela Elizondo Azuela and Aakarshan Vaid at the World Bank, writing for WEF. In 2022 it was only 16GW. The biggest gap, perhaps understandably, is in developing countries. It’s in these regions where renewables auctions for deployment – primarily solar and wind – need to start including hybrid storage as part of the package. The … [Read more...]
H2 Green Steel has raised billions in 3 years: a case study of Industrial Project Finance
The financing of H2 Green Steel (H2GS), founded in 2020, can be taken as a template for capital intensive industrial first-of-a-kind projects that must raise billions quickly to build from scratch and go live. Shravan Bhat and Asia Salazar at RMI describe H2GS’s financing journey to reveal five key lessons for raising funds. Against the usual logic, large, diverse, equity investor pools can work (H2GS counts over 20 different equity investors). … [Read more...]
Could big U.S. subsidies for Hydrogen create perverse incentives, raise emissions?
There is a danger that the U.S. Inflation Reduction Act (IRA) subsidies for hydrogen production (defined in provision 45V) may create perverse incentives that do not reduce emissions and may increase them. James Sallee at the Energy Institute at Haas explains why. The goal is to make “green” hydrogen powered by newly built clean energy. But what if the generously subsidised hydrogen is made from clean energy (new or not) that should be powering … [Read more...]
Belgium: commercially viable Rooftop Solar for social housing. No installation subsidies, lower bills
Rooftop solar is becoming a key component of the roll-out of clean energy. But whereas the decision to install is straightforward for homeowners, how do tenants in social housing blocks take advantage of the subsidies and lower electricity prices? Sven Van Elst at ASTER and Maarten Michielssens at Energy Vision, writing for WEF, describe their project that is installing rooftop solar, free, for 52,500 social rental homes in Flanders, Belgium. No … [Read more...]
Concrete supercapacitor: works like a battery, much cheaper, easy to make
Capacitors work like batteries. They store and discharge electricity. David Chandler at MIT explains how researchers there have designed a supercapacitor from concrete and carbon black, two cheap and common materials. The beauty of the idea is that they can be incorporated into building foundations, thus installing a battery virtually for free. A concrete capacitor cube 3.5m wide can store 10kwh, enough for a household. Similarly, concrete … [Read more...]
Agrivoltaics: GWs of solar power from farmland using strategically placed panels (and raising crop yields)
In Canada and the U.S. “agrivoltaics” are taking off. It’s when solar panels are laid out strategically on farmland. After concerns that it will obstruct farm machinery and lower crop yields, studies have shown that panels – on a large scale – can be placed so that they do not. In fact, certain crop yields can be raised when the panels are used to shield them from direct sunlight, explains Joshua Pearce at Western University, Canada. He looks at … [Read more...]
Industry’s EU ETS reforms and CBAM: how firms can turn the rising cost of carbon into competitive advantage
Changes to the EU ETS mean free emissions allowances (EUAs) for industry will be gradually phased out as the Carbon Border Adjustment Mechanism’s (CBAM) CO2-related levy is inversely phased in. It means the carbon costs for industry in the EU will significantly rise. Pablo Ruiz at Rabobank takes a deep dive to assesses the magnitude of these changes and their implications for the main industrial sectors, and the main change drivers for … [Read more...]
Concawe Symposium tackles climate and pollution as RED commits fuel companies to 29% renewable content from 2030
With the adoption of REDIII last week we are set for a dramatic increase in the “renewable” element of liquid fuels. It means that in just 10 years, the renewable element will have tripled, rising from 10% in 2020 to 29% from 2030 onwards. In the EU, Concawe (a division of the European fuel manufacturing industry) develops scientific research and technical studies on the fuel industry’s products and operations, and their impact. Concawe is … [Read more...]
Affordable €25k EVs by 2025: Europe’s carmakers can do it. Instead they’re making more profitable SUVs
T&E present a summary of their study which shows that European carmakers can produce affordable EVs (40 kWh LFP battery, 250-300 km range) priced at €25k by 2025 with a reasonable 4% profit margin. Priced for the mass market, this would add a million extra EV sales annually, accelerate the removal of combustion engines, and counter China’s dominance of the EV market. The obstacle is the insistence by Europe’s leading manufacturers - BMW, … [Read more...]
Oil & Gas business is fatally flawed: Russia-Ukraine only delayed the relentless decline in prices
The oil and gas producers have made windfalls off the back of Russia’s invasion of Ukraine and the consequent spikes in prices. But the return of prices to normal levels is re-emphasising the flaw in their business model, explains Clark Williams-Derry at IEEFA. The cost of producing the fossil fuels can only go up: the low hanging fruit was picked long ago, and finding and extracting new deposits gets more and more expensive. So do labour costs. … [Read more...]
Space-Based Solar Power: getting closer as SpaceX and Blue Origin bring down the cost of heavy-lift launches?
“Space-based solar power” (SBSP) sounds great in theory: giant solar farms in space collect unobstructed sunlight 24/7 and beam it to Earth stations, all using technology that already exists. It isn’t getting off the ground (pun intended!) primarily because of the cost of launching thousands of tonnes into space, plus assembly and maintenance. The attraction is that, if it can happen affordably, it could provide a hundred times the energy the … [Read more...]
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