Natural gas, because it’s low-carbon, is being used as a bridge fuel away from the old fossil fuel world. But there are two main problems. The infrastructure leaks methane (the main component of the gas) which is 25 times more potent than CO2 over a 100-year period (and 86 times over a 20-year period!). And, crucially, nobody is properly measuring those leaks. That means policy makers are growing the gas mix without knowing by how much it’s … [Read more...]
Is Germany’s emissions drop thanks to the EU ETS, not Berlin?
The good news is that 2019 saw a big decrease in Germany’s emissions, meaning a 35% reduction since 1990. It was only 30.8% by 2018, so the acceleration was thanks to a sharp drop in coal use. But emissions rose in transport and buildings, making the 2020 target of 40% more daunting. Add to that the slump in wind installations (permit problems) and the planned nuclear exit by 2022 (will more fossil fuels be needed to fill that big gap?), … [Read more...]
What can Oil producers learn from a sunset Coal industry?
Although fossil fuels are being replaced by clean energy they are not going away. Even coal is not in decline, it’s just peaked globally: declining in mature economies, still rising in developing ones. Henning Gloystein at the Eurasia Group, writing for the Atlantic Council, asks to what extent oil will follow coal. Oil consumption is still growing – 1% this year - though at a much slower rate than before. As with coal, a re-focus onto cleaner … [Read more...]
The coalition for an EU-ETS carbon price floor is reaching critical mass
The EU Emission Trading Scheme (EU-ETS) is bound to play a major role for ratcheting up climate policies in both the EU and its member states. After a prolonged period of low prices that questioned the ETS’s viability, the recent price run upwards in the wake of a major reform has sparked confidence that from now on “everything goes in the right direction”. But this confidence is misguided and ignores major risks for the scheme, argue Michael … [Read more...]
An independent Global Energy Forecast to 2050 v the IEA’s WEO 2019
Schalk Cloete has completed his own 5-part independent Global Energy Forecast to 2050 to compare with this year’s IEA World Energy Outlook, published mid-November. Underpinning all his predictions is his bet that the world will adopt tech-neutral policies (i.e. not backing any one technology over another, like a very high carbon tax) in 2030: in his opinion it will be the best way to accelerate the transition to meet the Paris goals as the 1.5°C … [Read more...]
Better grid integration beats coal plant ramping to reduce wind, solar curtailment
Wind and solar curtailment is worst where these renewables are poorly integrated into the grid. The further their energy can reach the more regions they can service, thus minimising curtailment. If they don’t reach far, local coal plants must ramp down - but only if they’ve been retrofitted to be able to do so. It’s a problem faced by many countries: spend money on the retrofits or the integration? Writing for the Regulatory Assistance Project … [Read more...]
Why renewables need gas: case study USA
Everyone is predicting the continued expansion of gas through to 2050. Jim Conca reviews the state of play in the U.S. to explain why that projection makes sense. The welcome and rapid growth of renewables still needs something to provide backup load-following to a growing and increasingly intermittent electric grid. Gas is the cheapest to roll out and can keep prices low for decades. The other two contenders, hydro and nuclear, just can’t match … [Read more...]
The rapid liberalisation of China’s domestic gas market
China’s coal-to-gas ambitions are driving big changes to its internal gas markets, says a report “China’s Quest for Blue Skies: The Astonishing Transformation of the Domestic Gas Market” by the IFRI Centre for Energy & Climate, authored by Sylvie Cornot-Gandolphe. To cope with a doubling of gas demand by 2030, market reforms are liberalising the downstream gas market. Nobody wants a repeat of the winter shortages of 2017-18. And air … [Read more...]
An independent Global Energy Forecast to 2050 (part 3 of 5): fossil fuels
Schalk Cloete is creating his own 5-part independent Global Energy Forecast to 2050, to compare with the next IEA World Energy Outlook, due in November. To make his predictions he has created simulations of cost-optimal technology mixes and made his own assumptions over the drivers that will affect them: policy, technology, demand growth and behavioural change are all included. Cloete reminds us that fossil fuels did not reach their dominant … [Read more...]
India: coal plummets, renewables stepping in
In 2018, 80% of India’s total energy lending went to renewables. Coal got the rest, a major fall compared to 2017. No wonder, given coal plants have been running at below 60% utilisation for two years with the operators suffering huge losses. Renewables are now undercutting coal and getting cheaper. And shortages in water – needed for plant cooling – just add to their woes. Vibhuti Garg at IEEFA catalogues the problems, then describes the … [Read more...]
Calculating the effect of $50/tonne CO2 on energy prices
Despite much debate, governments are hesitant to raise – or even impose – carbon pricing, worried about the direct impact it will have on businesses and consumers.To help understand its effect Severin Borenstein at the Energy Institute at Haas has crunched the numbers of a $50/tonne CO2 price, very expensive by today’s standards. He’s calculated the actual price increases on a gallon of petrol/gasoline, gas- and coal-fired generation, and natural … [Read more...]
Private finance must invest in carbon asset retirement, not just clean energy
The Climate Finance Leadership Initiative (CFLI) is laying out concrete plans for the private sector to finance the low-carbon transition, say Tyeler Matsuo and Lucy Kessler of Rocky Mountain Institute. One important insight of their new report “Financing the Low-Carbon Future” is that it’s not enough to back clean energy. Climate finance also needs to accelerate the retirement and transformation of the carbon assets that are responsible for 78% … [Read more...]
An independent Global Energy Forecast to 2050 (part 2 of 5): wind and solar
Schalk Cloete is creating his own 5-part independent Global Energy Forecast to 2050, to compare with the next IEA World Energy Outlook, due in November. Many of his assumptions are different from the big institutions, not least that technology-neutrality will be widely adopted as the best policy, as carbon budgets are exhausted around 2030. There are other big differences too. He starts with wind and solar, two technologies that the IEA and … [Read more...]
UN Climate Summit seeks NDCs, LTSs with deep sectoral changes
To pile on the pressure over climate negotiations, the UN Secretary General Antonio Guterres is convening a special Climate Action Summit, starting today. Nations are being pressed to accelerate their ambitions and back them up with concrete and realistic plans. The summit will be focussed on six ‘action areas’: energy transition; industry transition; infrastructure, cities and local action; nature-based solutions; resilience and adaptation; … [Read more...]
UN climate summit: which nations are leading, which failing
Ahead of the UN climate summit in New York on September 23rd, where countries are expected to set themselves more ambitious targets and roadmaps than they did in Paris in 2015, Bill Hare of Climate Analytics looks at the emissions league table. There are some surprises at the top: Ethiopia, Morocco and India, though he points out being at the top can still be a long way from doing enough to meet the 1.5℃ goal. At the bottom are Australia, the … [Read more...]
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