Sara Stefanini provides a written summary of our panel discussion held on 31st March 2022, âOptions to Reform the EU ETSâ. Itâs a full summary of the 90 minute discussion (with a link to the video), but it begins conveniently with a summary of the highlights, leading with the role of financial players, who they are, the causes of price volatility, what reforms can create stability, and the cost of decarbonisation. The main concern is speculation … [Read more...]
Event summary: âUnlocking the potential of Bioenergyâ
Sara Stefanini provides a written summary of our panel discussion held on Thursday March 17th 2022. Itâs a full summary of the 90 minute discussion (including audience questions), but it begins conveniently with a summary of the highlights (potential for bioenergy, hard-to-abate sectors, sustainability, policy needs). Those highlights include the need to scale bioenergy up from around 50 EJ today to 150 EJ by 2050; the importance of carbon … [Read more...]
District Heating Roundtable: Policy across RED, EED and EPBD “must take account of conditions in all Member States”
Sara Stefanini provides a written summary of our panel discussion held on 10th February: District Heating under the "Fit for 55" package: challenges and opportunities. Under the âFit for 55â package, the EC proposed several regulatory changes that, combined, are meant to decarbonise district heating in Europe. But are these options workable for all? The participants raise questions over the support for district heating, whether the multiple … [Read more...]
EU Taxonomy: labelling Gas âgreenâ is a gift to Putin
Many of todayâs clean energy technologies were given their first boost in the wake of the 1973 oil crisis, explains William Todts at T&E. He now hopes the current confrontation between NATO and Russia over Ukraine will shake up and deepen Europeâs commitment to the energy transition. But entirely the wrong signal was sent over the New Year, says Todts. He describes the European Commissionâs inclusion of gas in the EU Taxonomy for sustainable … [Read more...]
Renewed interest in Carbon Capture strategies for net-zero: targets, obstacles, costs, priorities
Martina Lyons at IRENA picks out the highlights of their new report âReaching Zero with Renewables: Capturing Carbonâ. Carbon capture is going to be expensive, so should be focussed on hard-to-abate industrial sectors, as well as bioenergy plants. Lyons breaks down the target carbon capture volumes, costs and the investments required, as well as looking at the consequences of different strategies and carbon prices. Scaling up this technology, … [Read more...]
Donât let high gas prices stop the EU ETS from doing its real job
The EU ETS carbon price reached a high of over âŹ60 per tonne in September. Some are arguing that its role in the current gas price crisis is a reason why it should be reined in. But Milan Elkerbout at CEPS Policy Insights explains that the EUA (European Union Allowance) has multiple purposes. It is an incentive to invest in low-carbon solutions such as renewables, efficiencies and new methods. The sooner we pass the cost hurdle of integrating … [Read more...]
Renewable Hydrogen: what policy instruments are needed to reach the new targets?
A comprehensive mix of policy instruments is needed to ensure that the EU meets its ambitious hydrogen targets. What should they look like? Pia Kerres, Matthias Schimmel and Corinna Klessmann at Guidehouse quote their study, done in collaboration with Agora Energiewende, for the answers. Industry and long-haul transport should be the main customers for hydrogen. The big challenge is to cut the cost of hydrogen production; itâs too expensive and … [Read more...]
EU âFit for 55â: how it impacts the EU ETS to accelerate emissions reductions
Christoph Kellermann, Lun Zhou and Simon Göss at Energy Brainpool explain how the EUâs new âFit for 55â proposals, released in July, will impact the EU Emissions Trading Scheme (EU ETS), hailed as one of the most effective ways of reducing emissions. The authors cover the changes to the existing ETS, the planned new ETS for road transport and buildings, the controversial Carbon Border Adjustment Mechanism (CBAM), and the new CO2 standards for … [Read more...]
Comparing four Carbon Removal scenarios (IPCC, IEA, McKinsey, NGFS) and policy implications
Most net-zero scenarios include carbon removal as a major component. Simon Göss and Hendrik Schuldt at cr.hub review five major scenarios from the IPCC, IEA, ETC, McKinsey, and the Network for Greening the Financial System (NGFS). They start by making the very important distinction between carbon capture and negative emissions: capturing carbon from, say, a gas plant does not deliver negative emissions, it just prevents new emissions. This … [Read more...]
Wind, Solar: continuing cost declines will help meet rising renewables targets
The ECâs âFit for 55â proposals include the raising of the EUâs 2030 target for total energy produced from renewable sources to 40%. Much of the rest of the world will likely raise its targets at some point too. Continuing to cut the cost of renewable energy generation will be essential to make that happen, and take pressure off all the other associated costs of supporting its integration into the energy system. Michael Taylor at IRENA summarises … [Read more...]
Central and Eastern Europeâs buildings renovation plans fall far short of 55% emissions cuts
There are big decarbonisation gains to be had in a renovation wave in Central and Eastern Europe (CEE) precisely because their building stock is very energy-inefficient, explains Christophe Jost at CEE Bankwatch. But Bankwatch's report on eight national plans - Bulgaria, Czechia, Estonia, Hungary, Latvia, Poland, Romania and Slovakia â reveals weaknesses in scale, funding, strategy and policy. Many are planning to comply with only the former 40% … [Read more...]
‘Fit for 55’ should prioritise decarbonisation of laggards: buildings, transport, industry, agriculture
Todayâs long-awaited "Fit for 55" legislative package from the European Commission will trigger intense and difficult negotiations that will last two years, says Nicolas Berghmans at IDDRI. Its scope is wide and inevitably interconnected. The twelve legislative proposals include adjustments to existing measures (renewable energy, energy efficiency, carbon market/EU ETS, energy taxation, climate effort sharing between Member States/ESR, land use … [Read more...]
Hydrogen: can gas, electricity and industrial majors agree on the next steps?
Hereâs our written summary of our panel debate held on 16th June âHydrogen: Designing the Net Zero Gas Systemâ. With representatives from BASF, SNAM and ELIA to cover consumption, gas and electricity, there were plenty of differences of opinion. For example, with no end in sight for demand for green electricity for the grid, is it efficient to use some of it for hydrogen? Will subsidies for hydrogen skew markets away from industrial … [Read more...]
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