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...]
China is still playing the long game with its ânew threeâ: solar cells, lithium batteries, EVs
Chinaâs ânew threeâ â or xin san yang â are solar cells, lithium-ion batteries, and EVs. The term harks back to the concept of its âold threeâ that were once the pillars of its exports: clothing, home appliances and furniture. Chinaâs success is seen in the numbers: it accounts globally for 80%+ of solar cell exports, 50%+ of lithium-ion batteries and 20%+ of EVs. You Xiaoying, writing for China Dialogue, interviews experts and quotes reports … [Read more...]
EU Energy Outlook to 2060: power prices and revenues predicted for wind, solar, gas, hydrogen + more
Huangluolun Zhou, Elena Dahlem and Alex Schmitt at Energy Brainpool present their updated âEU Energy Outlook 2060â, modelling how the European energy system will undergo major changes in the coming decades while continuing to guarantee a secure supply and meet its climate targets. What do these developments mean for power prices, revenue potential and risks for solar PV and wind? The two main scenarios are âCentralâ and âGoHydrogenâ for the EU 27 … [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 Europeâs climate objectives of reducing long term consumption of gas. Kong Chyong at the Center on Global Energy Policy proposes alternative policy … [Read more...]
Investing billions in new cross-border Electricity Transmission capacity can cover its costs within a few years
The huge divergence of electricity prices between nations after the energy crises of 2021 and 2022 exposed Europeâs pressing need to increase cross-border transmission capacity, explain George Dimopoulos, Conall Heussaff and Georg Zachmann at Bruegel. Without it, generation costs will be higher, emissions too, and new generation will continue to be badly congested. The authorâs calculations reveal that one additional MW of cross-border capacity … [Read more...]
Europe is updating its price cap sanctions on Russian oil. How to make them work?
The EC has put forward proposals for tightening the implementation of a price cap on Russian oil exports. Brian OâToole, Olga Khakova and Charles Lichfield at the Atlantic Council and Tomasz Wlostowski at EU Strategies review the performance of the price cap sanctions one year on from their implementation, and give recommendations for how to make them work better. Though most observers agree that the cap has limited export income for Russia this … [Read more...]
Why we need a European Central Carbon Bank within the EU ETS framework
The EU Emissions Trading System (EU ETS) is at a critical juncture as it navigates a path towards achieving a net-zero Europe by 2050. Amidst this transformation, the proposal to create the European Central Carbon Bank (ECCB) has sparked a range of criticisms. Some critics have raised valid concerns about the feasibility, necessity, governance, and potential drawbacks of such an institution. Robert Jeszke and Sebastian Lizak at the Centre for … [Read more...]
Cost vs Resilience: Europeâs sourcing strategy will shape the regional Hydrogen economy
The upcoming EU Hydrogen Bank pilot auction and trilogue discussions are focussing minds on the future of hydrogen. Jonas Lotze and Massimo Moser at TransnetBW and Janina Erb, Roman Flatau, Felix Greven and Max Labmayr at d-fine present the results of their modelling of two hydrogen sourcing scenarios: "Global Market" (GM) where the import of hydrogen into Europe is unrestricted, and "Energy Resilient Europe" (ERE) where almost all hydrogen is … [Read more...]
EU now has 9,000+ âenergy communitiesâ: smart, decentralised, flexible generation and consumption
The goal of the EUâs âClean Energy for all Europeans packageâ (CEP), adopted in 2019, is to improve the functioning and design of Europeâs energy markets and systems. Luca Arfini, writing for ESCI, explains how, as part of the CEP, new market actors called âactive customers/consumers and citizensâ and âenergy communitiesâ 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 Berkeleyâs Energy … [Read more...]
Europeâs big Hydrogen ambitions wonât deliver. Stick to ammonia-fertiliser, refining, shipping, aviation (maybe later)
Europeâs hydrogen ambitions need a reality check. The EUâs goal to produce and import 20m tonnes of clean hydrogen by 2030 is now widely seen as completely unrealistic, says William Todts at T&E. The business case is not good enough because of the high costs that arenât coming down as hoped. Itâs why only 4% of hydrogen projects get financed. Far better to focus on no regrets, low infrastructure hydrogen applications for ammonia-fertiliser, … [Read more...]
Nations are on track to meet their NDC targets. The catch is those targets arenât high enough for net zero by 2050
Globally, current Nationally Determined Contributions (NDCs) targets are within reach thanks to the increasing speed of clean energy transitions around the world. Thatâs as NDCs have, as planned, got more ambitious as nations have updated them every five years. The problem is current NDCs are still not ambitious enough to meet our actual 2050 net zero target. Daniel Wetzel, Gabriel Saive, Luca Lo Re and Alice Latella at the IEA summarise the … [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. Chinaâs key challenges is that its power market lacks an effective auxiliary service market, a capacity market, … [Read more...]
CBAM is now active. A guide to what companies must do to comply
On October 1st 2023 the Carbon Border Adjustment Mechanism (CBAM) became effective. Its purpose is to limit carbon leakage by establishing a carbon price on imported goods that is equivalent to the carbon price on domestically produced goods. That means introducing a set of reporting and compliance obligations for importers of goods into the EU. Simon Göss and Hendrik Schuldt at carboneer explain the new mechanism and scope (aluminium, cement, … [Read more...]
EU legislators must avoid crippling clean tech with a blanket ban on PFAS (per-and polyfluoroalkyl substances)
A blanket ban on all types of PFAS (per-and polyfluoroalkyl substances), or âforever chemicalsâ, is currently being considered by the European Chemicals Agency (ECHA). PFAS are used in cleaning products, non-stick pans, personal care products and more, so a ban on these will save lives and deliver sustainable practices. But, as Daniel Fraile at Hydrogen Europe explains, the PFAS subgroups of fluoropolymers and perfluoropolyethers are used in … [Read more...]
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