Laura Sandys at Energy Systems Catapult says policy makers today are too focussed on rewarding clean energy generation, in other words supplying as much energy as possible. With that comes a focus on reducing the cost of the energy generated. But how about reducing demand? Demand optimisation should be equally rewarded: efficiency, non-generation demand management (even at the household level: think EVs and heat pumps), and any assets that … [Read more...]
UK: exposing the gap between ambitious climate laws and actual policies
Like many nations, the UK has big gaps between what is actually needed to reach net zero by 2050, what targets and ambitions have actually passed into law, and what policies are actually in place to comply with those laws. The UKâs climate watchdog, the Climate Change Committee (CCC), has issued two reports that measure the UKâs performance and makes recommendations, summarised here by Josh Gabbatiss at Carbon Brief. The first report focuses on … [Read more...]
New rules for EU green bonds to raise âŹ350bn/yr, but no decision on nuclear and gas
The EU needs âŹ350bn/year from private investors to fill the Green Dealâs funding gap. The rules for the new green bonds that companies can issue to raise money are supposed to set a âgold standardâ, ensure thereâs no greenwashing, and make Europe the best place to invest your money sustainably. Benjamin Wehrmann at CLEW summarises the new strategy that was presented on 6th July, and has gathered reactions. Particular attention is paid to … [Read more...]
ELCC: for predicting how much storage a grid really needs
How much storage does a grid need? Too little leads to blackouts. Too much means money wasted. Getting the predictions wrong will skew policy priorities and investments, and slow the transition to a clean electric grid. Effective Load Carrying Capability (ELCC) measures a resourceâs ability to produce energy when the grid is most likely to experience electricity shortfalls. Mark Specht at the Union of Concerned Scientists explains how it works. … [Read more...]
Financial incentives for Grid Modernisation: the problem with guaranteed returns on investment
Grid modernisation is going to be very expensive. Whatâs the best way to pay for it? The financial incentives governments put in place now will determine what investments get made, how cost-effectively itâs done, and who ultimately pays. Meredith Fowlie at UC Berkeleyâs Energy Institute at Haas explains that a common method is for a government to give some sort of guaranteed return on investment for the new asset. But itâs far from ideal. … [Read more...]
Germany: will the end of feed-in tariffs mean the end of citizens-as-energy-producers
Germanyâs feed-in tariffs ran for 20 years. The guaranteed electricity price and connection to the grid incentivised ordinary citizens and communities to invest in smaller scale solar, biomass and wind generation for their homes and local areas. But that guaranteed price is now too expensive, and so the tariffs are ending and lowest-bid auctions are taking over. Itâs the bigger players who are winning those auctions, and some of the existing … [Read more...]
Solar âsoilingâ: energy loss from dust on panels can range from 7% to 50%
Dust and pollution particles on solar cells cut energy conversion, enough to cause big problems for investors let alone those depending on the generation. In parts of the U.S. energy loss can be as high as 7% and 50% in the Middle East. For assets supposed to deliver for 25 to 50 years this is hardly acceptable. Engineering solutions are struggling to keep up with the phenomenal take off of solar. Predicting the effects of âsoilingâ in your … [Read more...]
New U.S. Offshore Wind target: from standing start to 30GW by 2030
In March, the Biden administration announced a bold target to deploy 30GW of offshore wind capacity by 2030. Until now, offshore windâs rise has been driven almost exclusively by Europe and China. The U.S. accounts for just 0.1% of the worldâs installed capacity (versus 17% for onshore wind). Why the hold up, given the U.S. could require up to 400GW of offshore wind by 2050? As Stephen Naimoli and Nikos Tsafos at CSIS explain, offshore costs … [Read more...]
How to ramp up Green Mortgages for climate-friendly house improvements
Green mortgages are used to finance climate-friendly house improvements. In the U.S. they already exist, but need to be made far more accessible and marketed widely. Greg Hopkins at RMI cites their report âBuild Back Better Homes: How to Unlock Americaâs Single-Family Green Mortgage Marketâ to explain that the financial markets are looking increasingly favourably at lending that is certified as ESG (environmental, social, and governance). … [Read more...]
Case studies: Strategic EV funding starts with an Essential Charging Network
Building a nationwide EV charging network is a daunting prospect. Camille Kadoch and Julia Hildermeier at RAP look at those places that are being strategic about it, starting with an essential network that will allay the concerns of consumers on the verge of buying an EV but put off by worries that they will get stuck somewhere with a flat battery. Thatâs frustrating, given the average American drives only 37 miles a day and Europeans 32 … [Read more...]
An EU ETS that lifts carbon prices too high can make clean energy transitions harder
This coming Friday 19th March, 11.00 to 12.30 CET, we have an online panel discussion plus audience Q&A on "The Role of the EU ETS in Decarbonisation to 2030". All are invited. We will dig into how the EU ETS is being shaped to ensure it meets its primary objective, the decarbonisation of Europe. To help set it up, Wanda Buk, Vice-President for Regulatory Affairs at PGE Group answers questions that are being asked of Polandâs position and its … [Read more...]
Do government renewable energy auctions squeeze the PPA market?
Spanish government renewable energy auctions in January produced record-breaking low strike prices for both wind and solar. For solar the average price was âŹ24.47/MWh (the lowest was âŹ14.98/MWh), guaranteed for 12 years through contracts-for-difference (CfDs). As such auctions continue around Europe, Michael ClauĂner at Energy Brainpool asks what impact these prices will have on future power prices in general and on solar power purchase agreement … [Read more...]
Five practical steps Oil & Gas can take to accelerate their energy transition
The Oil & Gas sector has a role to play in the energy transition, and not just by winding down operations. Thatâs because they will, by most projections, continue to be a major part of the energy mix through to 2050. But their activities must transition too, explain Bart Valkhof, Pedro Gabriel Gomez Pensado and Wan Sayuti at the World Economic Forum. The sector must therefore work out which strategies and investments can produce the lowest … [Read more...]
EU Taxonomy: 5 principles for avoiding unintended consequences
The EU Taxonomy is a classification system that defines a list of environmentally sustainable economic activities. If your activity is on the list you should see green finance flow your way. Hence the heated debate over what is âgreenâ. Itâs of vital interest to sectors like gas and nuclear (itâs green compared to the coal it replaces) as it will have a major effect on the cost of capital and therefore the future of the sector. Indeed, any … [Read more...]
Low gasoline prices create a window for tax changes to fund energy transitions
Low crude oil and gasoline prices create an opportunity for all governments to reform the way they tax or subsidise these important fuels. In general, richer importing nations have high gasoline taxes to generate substantial revenues. Poorer nations subsidise them to cut the bill for their citizens and industries. Oil producing nations do little of either. Domenico Lattanzio and Alexandre Bizeul at the IEA explain how nations that use subsidies … [Read more...]
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