The ultimate price of anything is highly dependent on the cost of capital needed to put it in place. That cost reflects the risks financial markets perceive. And policy certainty reduces risk. Gireesh Shrimali, Christian Wilson and Xiaoyan Zhou at Oxford University, writing for WEF, summarise their global study which shows the cost of capital for different energy technologies, and therefore which ones will trend upwards and dominate. They cover … [Read more...]
IPCC AR6 report reveals a bigger impact at lower temperatures than previously predicted: health, crops, species loss +more
Published in March, the IPPCâs AR6 Synthesis Report on Climate Change updates its predictions of the effects of temperature rises. It starkly concludes that those temperature rises will have a bigger impact at lower temperatures than previously predicted. Charlotte Edmond, writing for the World Economic Forum, picks out five charts from the report to illustrate the point: the range of likely temperature rises; global map of change in temperature, … [Read more...]
IEAâs global âCO2 Emissions in 2022â report: by sector, fuel, region, heating +more
The IEA has published âCO2 Emissions in 2022â, giving estimates of CO2 emissions from all energy sources and industrial processes globally. Emissions from energy combustion increased by 423 Mt, while emissions from industrial processes decreased by 102 Mt. Emissions from various sources (sector, fuel, region, heating, etc.) are broken down, with reasons for why the change happened. The report is part of the IEAâs first global stocktake of the … [Read more...]
Adding ordinary baking soda to concrete production can cut 15% of its CO2 emissions
Concrete production makes up 8% of global CO2 emissions. Half comes from the fossil energy used to make it (which, hopefully, can transition to clean power), and the other half comes from the CO2 that escapes during the chemical transformation. David Chandler at MIT describes research there that shows how simply adding sodium bicarbonate (yes, the baking soda you put in your cookies) during the early stages of production can remove, by … [Read more...]
IPCCâs latest AR6 synthesis report lacks urgency and realism. Its own numbers say so
Kevin Anderson at the University of Manchester explains his deep disappointment in the recently released and influential IPCC AR6 synthesis report. Even the mainstream media criticised the lack of urgency in the language. Andersonâs objections go further. He says the reportâs own figures show net-zero must be reached by 2040, not the âearly 2050sâ as stated. Anderson goes on to criticise the modelling used as the standard, saying it is formulated … [Read more...]
EU: no CO2-emitting car sales from 2035. But beware of the small exemption for e-fuels
At the end of March, EU countries gave final approval to end sales of new CO2-emitting cars in 2035. It came after Germany argued for and won an exemption for cars running on e-fuels. William Todts at T&E celebrates the landmark decision, but warns that this lifeline for e-fuels will be used by its supporters and the oil lobby to obstruct the rapid transition to EVs. He quotes T&E research that shows e-fuels are far less efficient than … [Read more...]
Strategic home + workplace EV charging: thereâs no need for extra power plants, storage, advanced demand management
High EV usage introduces new power consumption problems. At first look, extra storage and plants will be needed to cope with charging peaks. Either that, or sophisticated advanced demand management connected to every charging point, to smooth out demand. David Chandler at MIT describes research there that shows how, done right, none of that may be necessary. The study, tested on real life data in New York and Dallas, reveals that two things can … [Read more...]
IEAâs new CCUS projects database: a tool for driving much needed progress
The IEA has made available for the first time its CCUS projects database. The number of countries with plans to develop CCUS now stands at 45, with seven more countries - in central and southern Europe, the Middle East, and Southeast Asia â joining the list in 2022. The database covers CO2 capture, transport, storage, and utilisation projects worldwide commissioned since the 1970s, and have an announced capacity of more than 100,000âŻtonnes/year … [Read more...]
Galway and Sofia lead in climate adaptation plans for European cities: new online tool to help others follow
A new study assesses the most recent adaptation plans of 167 European cities. Six âprinciplesâ - evidence of impacts and risks; adaptation goals; adaptation measures; implementation; monitoring and evaluation; societal participation in plan creation â are used to quantify performance. The authors â Diana Reckien, University of Twente; Attila BuzĂĄsi, Budapest University of Technology and Economics; Marta Olazabal, Basque Centre for Climate Change; … [Read more...]
Event summary: Electricity Market Design â how can reforms accelerate the Transition and help cut energy prices?
Here is our written summary of our online panel discussion held last week on the ECâs Electricity Market Design reform proposal. Catharina Sikow-Magny, Director, DG ENER presented the main elements of the proposal, and answered questions from the panellists: Wanda Buk, VP for Regulatory Affairs, PGE Polska Grupa Energetyczna; Leonardo Meeus, Director, Florence School of Regulation; JĂ©rĂŽme Le Page, Chair of Electricity Committee, Federation of … [Read more...]
Geothermalâs full potential: 24/7 power everywhere, storage, environmental mineral extraction
Geothermal is not just for generating energy. It can be used for storage and extracting minerals too. Kelly MacGregor at NREL summarises the research into taking geothermal to the next level and making it a solution to multiple challenges. Depending on how far down you dig, geothermal is available for running utility-scale power plants as well as heating and cooling individual districts, buildings and houses. And new techniques are being … [Read more...]
The problem with CO2e: we need separate emissions data for each climate pollutant (methane, soot, etc.)
Currently, we measure non-CO2 emissions by converting their impact into the CO2 equivalent over a 100-year period. The problem is that other pollutants can have their worst impact well within 100 years, like methane (the first 20 years is when the impact of methane is worst). Though CO2 has caused the most warming, other short-lived pollutants have contributed nearly half of the total, particularly methane, black carbon from soot, and some … [Read more...]
Should U.S. DOE risk funding methane-based Hydrogen production when CCS is still not proven?
The U.S. Department of Energy (DOE) is allocating $8bn for building regional clean hydrogen hubs. Decisions on who to fund are being made now and will be completed by the end of this year. Any methane-based hydrogen project that achieves a 95% carbon capture rate will be sufficiently âcleanâ to qualify for the federal funding. But, as Suzanne Mattei, David Schlissel and Dennis Wamsted at IEEFA explain, the few âat scaleâ CCS projects now running … [Read more...]
âGreen Deal Industrial Planâ explainer: 40%+ of the top low-carbon technologies must be made in the EU by 2030
The ECâs new series of proposed targets and reforms, contained in its Green Deal Industrial Plan, aim to ensure that at least 40% of the EUâs low-carbon technologies will be made within its borders by 2030. The eight âstrategic net-zero technologiesâ are: Solar (power and thermal); Onshore and offshore wind; Batteries and energy storage; Heat pumps and geothermal; Electrolysers and fuel cells; Sustainable biogas/biomethane; CCS; Grid … [Read more...]
Silicon Valley Bank failed. Donât blame the Climate Tech it backed
Silicon Valley Bank in the U.S. was a favourite for climate tech start-ups. So its recent collapse inevitably raised questions over whether those start-ups and by extension the whole climate innovation ecosystem was much more fragile than previously thought. Rushad Nanavatty, Colm Quinn and Amy Yanow Fairbanks at RMI explain why thatâs not the case. Instead, it was an old-fashioned bank run caused by poor risk management, weakened regulation of … [Read more...]
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