25 countries plus the EU have announced big ambitions for renewable hydrogen production. But how much renewable energy will be needed to make the H2 over the next five years? Nations are not keen to expend new clean energy generation on (expensive today) hydrogen production when their grids are still not emissions-free. According to the IEA, for 2022-2027, their main case forecasts around 50GW of renewable capacity will be dedicated to hydrogen … [Read more...]
EU ETS and CBAM: what the big update to emissions trading rules means for Europeâs key sectors
The EUâs Emissions Trading Scheme is a vital part of the regionâs decarbonisation plans. Simon Göss at carboneer digs into the new rules coming in for the existing EU ETS, and the implementation of the new carbon border adjustment mechanism (CBAM). Right now, the existing EU ETS covers around 40% of the EUâs emissions (energy sector, industrial installations and aviation). Its scope is being extended to include maritime transport. On top of that, … [Read more...]
Message to environmentalists and the left: you canât oppose both fossil investments and Carbon Pricing
Environmental and social justice opponents of fossil investments need to think carefully about the consequences of preventing all forms of new fossil infrastructure and maintenance. As Catherine Wolfram at the Haas School of Business explains, if fossils are phased out faster than clean energy is phased in, consumer prices go up and the fossil firms profit. A carbon price â often opposed by the same U.S. âprogressivesâ as a tax disproportionately … [Read more...]
2023 lookahead for Sustainable Finance: EU Taxonomy, ESG ratings, corporate disclosure laws, Europeâs âIRAâ
What will be the big issues for sustainable finance in 2023? Luca Bonaccorsi at Transport & Environment points at four. Firstly, the EU Taxonomy defines what counts as âgreenâ investment. There has been much criticism of the inclusion of gas, and critics will continue publishing their analyses of what is truly sustainable and what is greenwash. Next, ESG ratings have also been severely criticised. They are an investorâs main tool for capital … [Read more...]
From lab to commercialisation: what is the optimal pathway for Clean Energy Technologies?
Itâs a considerable challenge to predict, decades in advance, what the world will need and get it from lab to market. Madeline Geocaris and Andrea Wuorenmaa at NREL summarise four case studies that reveal the key elements required: a good balance of technology, R&D, and public-private partnership; regulatory and market force alignment; good timing for market opportunities. The goal is the optimal pathway to the successful first … [Read more...]
30+ nations now subsidise Heat Pumps because lifetime cost is cheaper than fossil boilers
The global growth in heat pumps can deliver almost 40% of all possible emissions cuts from heating by 2030 (with most of the rest coming from efficiency, mainly insulation), says the IEA. This is according to their âAnnounced Pledges Scenarioâ (APS) which assumes that governments carry out all of the climate commitments they have made. Keeping buildings warm produces one-tenth of global energy-related CO2 emissions. So the APSâs heat pump growth … [Read more...]
How to tax renewable energy firms for windfall profits from high wholesale electricity prices
Should windfall taxes be imposed on renewable energy firms that have benefitted from the current high electricity prices caused by the increases in oil, gas and coal prices triggered by Russiaâs invasion of Ukraine? If so, how, and how much? The IEA has conducted a study of the EU to try to uncover who has (and hasnât) made extraordinary profits, and how much. Up front they say this is difficult to do as the majority of installed renewable … [Read more...]
Laser-driven Nuclear fusion achieves âignitionâ: lab gets more energy out than in
Though nuclear fusion serving the grid is surely still decades away, it has got one important step closer, explains John Pasley at the University of York. For the first time, in the U.S. the Lawrence Livermore National Laboratory achieved âignitionâ for laser driven fusion. That means more energy was taken out, by a factor of 1.5, than put in. However, the two million Joules of laser light fired at the fuel pellets needed 300 million Joules to … [Read more...]
Corporate targets are forcing suppliers to cut emissions or relocate to clean energy nations
Emissions targets being imposed by corporates in the U.S. and Europe are forcing manufacturers in other parts of the world to decarbonise, writes Kwangyin Liu at Clean Energy Wire. Here, she looks at how Taiwanâs TSMC â the worldâs third largest chip manufacturer â is having to set up factories in Arizona (U.S.) and Kumamoto (Japan) where emissions are lower and thus to comply with requirements set by customers like Apple, Google and Microsoft. … [Read more...]
Doubling clean energy investments from ânaturalâ redirection of existing spend on infrastructure, buildings, fossils +more
Annual investments in clean energy stand at $1.4tn, now greater than investments in fossil fuels ($1tn). But that needs to double by 2030. This steep climb will be made easier by the natural cycle of global investment, as well as the cost-benefits of abandoning fossil fuels for renewables and greater efficiencies, says Stephen Peake at The Open University. Each year, around a quarter of our GDP is anyway spent on new machinery, buildings and … [Read more...]
Russia, fossil prices, energy security will boost Renewables to 38% of global power mix by 2027, says IEA
The IEA has raised its 2027 forecasts for total renewables additions in its main scenario to 2,383GW â around the total power capacity of China. Thatâs a 28% increase on the previous estimate and up 76% from two years ago, explains Josh Gabbatiss at Carbon Brief who summarises the IEAâs latest forecasts. Globally, solar power will overtake gas by installed capacity in 2026 and coal in 2027. There are two main drivers for this acceleration. High … [Read more...]
Can Global Shipping turn talk into action on reducing emissions?
This week the International Maritime Organisation (IMO) member states are meeting to find ways and agree on how to step up their climate goals. Strategies and targets have been presented, but agreement and binding commitments are needed urgently. There are big differences of opinion within the IMO, and it might turn out that regional and industry developments will drive change faster, explains Christiaan De Beukelaer at Durham University. For … [Read more...]
Distribution Grid Digitalisation – benefits, policy, cost & funding
About a third of European grids are over 40 years old. A rapid physical overhaul would be impossible, so the addition of a layer of digital technologies is the key to preparing them for the distributed and intermittent generation from renewable sources, the increased electricity demand from transportation, heat pumps and other sectors, and for ensuring energy efficiency at all levels. Itâs why the EC expects about âŹ584bn of investment in Europeâs … [Read more...]
Health benefits of Wind Power: first replace the most polluting fossil plants, not the most expensive
It makes economic sense, when intermittent wind (or solar) generation rises, to turn down the most expensive fossil plants. Or does it? Join the dots to health costs and it may make more economic sense to turn down the most polluting plants first. Jennifer Chu at MIT describes research there that creates models and scenarios to interrogate that theory. Using hourly generation records, pollution and health cost data from across the U.S. they found … [Read more...]
How Europe is countering Russia’s weaponisation of energy – CEDE 2022 event summary
Simon Göss provides a written summary of our two panel discussions held in Brussels on Thursday December 8th 2022. Panel 1 was titled âThe Availability and Affordability of Gas and Energy in CEE and EUâ, Panel 2 âThe War in Ukraine: Security of Critical Energy Infrastructureâ. The issues covered include EU policy interventions for countering the Russian weaponisation of energy, cooperation with Ukraine, how far is Europe prepared, spill-over … [Read more...]
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