Europe’s energy security is being used as an excuse in the U.S. to build more LNG terminals than are actually needed, argues Ana Maria Jaller-Makarewicz at IEEFA. European gas demand is expected to keep falling. Even with U.S. projects that are currently under construction, its LNG export capacity in 2030 will be 76% higher than Europe’s forecast demand. The U.S. should seriously re-evaluate its strategy or risk overinvestment, says … [Read more...]
EU’s fossil fuel CO2 emissions drop to levels last seen in the 1960s
The EU’s CO2 emissions from fossil fuels (including power generation, industry and transport) dropped 8% in 2023 year-on-year, reaching levels last seen in the early 1960s, reveals an analysis by CREA. More than half of that decline came from an impressive 25% year-on-year reduction in CO2 emissions from power generation. The cleaner electricity mix is thanks to the continuous rise of wind and solar as well as a rebound in hydropower and nuclear. … [Read more...]
2024 a tipping point for Sustainable Buildings? Demand now outstrips supply in major cities
Guy Grainger at JLL, writing for WEF, believes 2024 will be the tipping point when returns for investing in sustainable office buildings will start to pay dividends for building owners. That’s because, according to JLL research, there is now a good premium on rents for sustainable buildings in important locations: just over 7% across eight cities in North America, around 10% across nine cities in the Asia Pacific and more than 11% in London. In … [Read more...]
China didn’t sign the global pledge to triple Renewables and double Efficiency. Why?
Announced at COP28, a total of 123 countries committed to tripling renewable power capacity and doubling energy efficiency by 2030. China didn’t. Why? Quoting experts, Lin Zi at China Dialogue explains that the bundling together of the two targets is the problem. Tripling renewables is very achievable; in fact China may well exceed that target. But reducing energy intensity is not easy, even though China has a good record: among the G20 members, … [Read more...]
Building and financing the expansion of Europe’s electrical interconnection market
In the first of a series of four articles covering the expanding market for electrical interconnections in Europe, Jean-Baptiste Vaujour at the Emlyon Business School sets the scene by presenting the main points and current developments around the difficulties of building and financing these assets. Interconnectors allow power to be sent across borders to meet the shortfall where supply is not meeting demand. For example, European electricity … [Read more...]
How to manage price risk as the EU shifts from Russian Gas to Renewables
Europe is phasing out Russian gas and replacing it with more renewables. That means there will be greater demand variability and a resulting impact on European spot gas prices. The problem is that long-term contracting, the traditional way for buyers to mitigate spot price risk, is incompatible with Europe’s climate objectives of reducing long term consumption of gas. Kong Chyong at the Center on Global Energy Policy proposes alternative policy … [Read more...]
EU now has 9,000+ “energy communities”: smart, decentralised, flexible generation and consumption
The goal of the EU’s “Clean Energy for all Europeans package” (CEP), adopted in 2019, is to improve the functioning and design of Europe’s energy markets and systems. Luca Arfini, writing for ESCI, explains how, as part of the CEP, new market actors called “active customers/consumers and citizens” and “energy communities” are being established. As variable renewable generation grows, the whole system needs to be more decentralised, smarter and … [Read more...]
Will AI queries increase Data Centre energy use by an order of magnitude?
Data centres globally consumed 220-330 TWh in 2021 (California uses around 278 TWh/year). How much more will they consume if AI takes off, given AI queries consume an order of magnitude more energy, and there are over 5bn internet users worldwide? The first step is to make a decent evidence-based prediction, but the U.S. and the EU are only expected to enforce reporting requirements next year, explains Meredith Fowlie at UC Berkeley’s Energy … [Read more...]
China can learn from the EU about power market design and infrastructure build-out
How will China integrate its growing Variable Renewable Energy generation and create a nationwide energy system that avoids the risks of curtailment, stranded assets and blackouts? A good place to start is to learn from Europe. Helen Farrell at ECECP summarises their report that uses the European experience to model scenarios for China. China’s key challenges is that its power market lacks an effective auxiliary service market, a capacity market, … [Read more...]
Make EV batteries bidirectional, get GWs of storage for the Grid
How to cope with the hourly, daily and seasonal variation in demand as regions electrify more, depend more on variable renewables like wind and solar, and cut baseload fossil generation? Storage shifts load nicely. But why build grid-scale batteries when millions of little batteries in our EVs are sitting idle in our driveways for most of the time? As Mark Specht at the Union of Concerned Scientists explains, it’s why in California a bill is … [Read more...]
Spain: as Renewables rise, managing supply and demand is the next challenge
In May this year Spain reached a landmark day when it was powered 100% by renewables - solar, wind and hydroelectric power - from ten o'clock in the morning until seven o'clock in the evening. In four years the share of renewable energy generation rose from 37% to 50%, while non-renewables dropped from 62% to 49%. Its draft Law on Climate Change and Energy Transition targets 35% of renewable energy in final consumption by 2030 and 100% in the … [Read more...]
Sodium-ion batteries ready for commercialisation: for grids, homes, even compact EVs
Sodium-ion (Na-ion) batteries, a much more abundant and cheaper alternative to the standard Lithium-ion, are on the verge of commercialisation, explain Carlos Ruiz, Martina Lyons, Isaac Elizondo Garcia and Zhaoyu Wu at IRENA. Though there’s enough Lithium in the world to support global electrification targets, tightening demand and supply chain constraints point at the urgent need for an alternative. The cost of a Na-ion battery cell is expected … [Read more...]
Will U.S. become the Global Gas Market’s source of flexibility and security of supply?
The U.S. will take the lead in offering flexibility and security of supply to the global gas market, and at prices linked to its wholesale gas market, the most liquid in the world, argue Kong Chyong and Ira Joseph at the Center on Global Energy Policy. It’s because the U.S. leads in the three key sources of gas trade flexibility, critical to meeting unexpected supply and demand gaps: natural gas storage systems, spare capacity in production and … [Read more...]
IEA report: global manufacturing capacity is expanding rapidly for solar, wind, batteries, electrolysers, heat pumps
The IEA summarises its special briefing, “The State of Clean Technology Manufacturing.” It’s a global update on recent progress in key regions, focussing on five technologies – solar PV, wind, batteries, electrolysers and heat pumps – critical to the energy transition. It should be read to keep decision makers informed of investment trends and the impact of industrial strategies. Overall, manufacturing capacity for these technologies is expanding … [Read more...]
“Rebound Effect”: cheap LEDs mean more lights everywhere. But brighter homes, offices and public spaces are worth having
LEDs are 90% more efficient than modern incandescent bulbs. Their rapid uptake has resulted in measurable cuts in energy demand and emissions. But their plummeting cost over the last ten years is also causing a “rebound effect” where people are using more and more LEDs, not least for outdoor lighting. Lucas Davis at the Haas School of Business believes we must embrace it, even if it’s counter to maximising energy savings. More and brighter … [Read more...]
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