Whatever the G7 does, the objective is to cut revenues flowing into Russia, not oil flowing out. And whatever the sanctions, getting compliance from neutral and pro-Russian countries will need a strong positive incentive. Hence the idea of a price cap which would keep prices low. Here, three experts – Edward Fishman and Brian O’Toole at the Atlantic Council, and Mark Mozur at S&P Global Commodity Insights (with background by Atlantic … [Read more...]
EU’s latest sanctions on Russian Oil: what are they and will it work?
On June 3, the EU agreed an embargo on Russian crude oil and petroleum products. Ben Cahill at the Center for Strategic and International Studies looks at the details of the latest sanctions imposed in response to Russia's ongoing invasion of Ukraine, and assesses the possible consequences. The aim is to cut oil imports from Russia by 90 percent by February 2023. A critical part of the sanctions is a ban on providing shipping insurance to Russian … [Read more...]
Record Renewables additions for 2021 and 2022 despite supply bottlenecks prove Solar & Wind’s resilience
Despite – or perhaps because of – global market and political turmoil, renewable power is set to break another record in 2022. That’s after 2021 also saw record new capacity from solar, wind and other renewables worldwide. It’s mainly driven by solar PV in China and Europe as governments around the world take advantage of renewables’ energy security and climate benefits, according to the IEA’s latest Renewable Energy Market Update. 295GW of new … [Read more...]
Using electrostatic repulsion to clean Solar panels, avoiding up to 30% power loss
Dust build-up on solar panels can reduce the power output by as much as 30% in just one month. Even a 1% reduction in power for a 150MW solar installation could result in a $200,000 (€180,000) loss in annual revenue. Cleaning normally requires purified water, but that needs to be trucked in to prime locations like deserts where solar potential is highest. Cleaning with brushes is labour intensive and can damage surfaces irreparably. David … [Read more...]
What’s your average lifetime CO2 footprint by year of birth, to achieve net-zero by 2050?
To reach net zero by 2050, babies born today must have CO2 footprints ten times smaller over their lifetimes than their parents and grandparents. In rich countries it’ll be fifteen times, while in emerging economies like India and China it’ll be around four times smaller. Laura Cozzi, Olivia Chen and Hyeji Kim at the IEA summarise how they have calculated the average allowable lifetime CO2 footprint by year of birth. Taking the two extremes, the … [Read more...]
Can Carbon Offset loopholes be fixed with better evaluation and rules?
Carbon offset programmes rightly get a lot of criticism. There’s plenty of evidence of offsets not delivering all the GHG emissions reductions they are credited for. Though still on the international agenda, should they be ditched? Or can they be improved with better analysis and evaluation, and making that a pre-condition for creating carbon offset credits, asks Meredith Fowlie at the Energy Institute at Haas. She starts by looking at those … [Read more...]
Fulfilling the Global Methane Pledge: “polluter pays”, more electrification, less gas
At COP26 the U.S. and the EU led a global pledge to slash methane emission by 30% by 2030. Methane makes up at least one-quarter of all greenhouse gases, and is more than 80 times more damaging than CO2 over a 20-year period. Success in cutting these emissions would be a major step towards meeting our 1.5°C goals. But far from declining, 2020 saw methane emissions grow at the fastest rate in 40 years. The increased use of natural gas (mostly made … [Read more...]
Record global power sector emissions by 2022, because Renewables aren’t growing fast enough
The IEA is forecasting that renewables will cover only half the projected increase in global electricity demand in 2021 and 2022. Despite renewables’ impressive growth, coal and gas will be needed to cover the rest. That means emissions will rise to record levels. That will be the reverse of the IEA’s (and many others’) “Roadmap to Net Zero by 2050” pathway, where three-quarters of global emissions reductions between 2020 and 2025 come from the … [Read more...]
Wind, Solar: continuing cost declines will help meet rising renewables targets
The EC’s “Fit for 55” proposals include the raising of the EU’s 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...]
Super-efficient space cooling can mitigate 0.5°C of warming by 2100
Space cooling eats up 10% of global electricity use, and by 2050 total energy consumed could triple as ownership takes off in developing countries. It’s why the Global Cooling Prize was launched to find AC designs that will have an 80% lower climate impact, explains John Matson at RMI. The two main design goals were to reduce electricity demand, and use refrigerants with lower global warming potential (GWP) than traditional refrigerant gases. The … [Read more...]
18 energy transition scenarios to watch: where they agree and disagree
A wide range of regions, nations and respected organisations have created net-zero strategies and pathways, but on what do they agree and disagree? Dolf Gielen, Asami Miketa, Ricardo Gorini and Pablo Carvajal at IRENA have done a meta-analysis of 18 recent energy transition scenarios to find out. There is consensus over the main strategies: renewable power generation, and the direct and indirect electrification of end-use sectors – these account … [Read more...]
EU-India cooperation: how to tap the large potential for climate action
India is the world’s fifth largest economy, the second most populous, and over the next few decades is expected to see energy demand grow more than any other country. Ritu Ahuja and Mekhala Sastry at TERI, Abhishek Kaushik at the Centre for Global Environment Research, and Alexandra Deprez and Lola Vallejo at IDDRI look at India’s challenges and which areas show the most potential for partnership with the EU. They focus on five themes: energy, … [Read more...]
Updated NDCs: World committing to 0.5% emissions cuts by 2030. It should be 45%
The latest national climate pledges, submitted over the new year, show that the world is nowhere near meeting our emissions reductions goals. Analysis of the 48 updated “nationally determined contributions” (NDCs) submitted so far (everyone must submit by the end of this year), covering nations responsible for 29% of global emissions, shows we will have 0.5% lower emissions in 2030 compared to 2010. That’s way off the target 45% reduction needed. … [Read more...]
Asia’s record Gas prices expose the need for faster market reform
After record lows in mid-2020, Asian spot prices for LNG rose tenfold to reach record highs in January 2021. This volatility is an obstacle to the development of the gas infrastructure that’s essential to the region where demand for gas is growing, explain Jean-Baptiste Dubreuil and Gergely Molnar at the IEA. There were multiple causes for the price spike, including the cold winter, limits to nuclear and coal generation, and outages at regional … [Read more...]
IEA’s “accelerated case” becoming the norm? Global Wind + Solar to overtake Gas and Coal by 2024
The IEA’s 2019 “accelerated case” for renewables is turning into this year’s “main case”. It predicts that Wind and Solar capacity combined will overtake both Gas and Coal globally by 2024. Josh Gabbatiss at Carbon Brief summarises the IEA’s Renewables 2020 report. Within five years, renewables will constitute 1/3 of all electricity generation, equivalent to the combined demand of China and the EU. Virtually all global growth in electricity … [Read more...]