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 “soiling” 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 wind’s rise has been driven almost exclusively by Europe and China. The U.S. accounts for just 0.1% of the world’s 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 “Build Back Better Homes: How to Unlock America’s Single-Family Green Mortgage Market” 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. That’s 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 Poland’s 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 €24.47/MWh (the lowest was €14.98/MWh), guaranteed for 12 years through contracts-for-difference (CfDs). As such auctions continue around Europe, Michael Claußner 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. That’s 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 “green”. It’s of vital interest to sectors like gas and nuclear (it’s 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...]
U.S. supports carbon capture R&D and commercialisation
Many are hoping that the new U.S. administration becomes a climate leader. Nowhere is leadership needed more than in the field of carbon capture. Most net zero pathways give it an essential and major role, yet the possible solutions are still in their infancy. Anne Canavati at the Atlantic Council looks at the new bills being passed in Washington that appear to be the beginnings of a serious push to develop and commercialise Carbon Dioxide … [Read more...]
Washington State (U.S.) bill could make it the home for next generation Nuclear
Nuclear may soon be getting a boost from Washington State in the north-west of the U.S. There, a bill is being presented to promote the manufacture and deployment of new nuclear reactors. It will provide generous tax incentives to nuclear investments in the state. It’s the sort of support that renewable energy technology is used to, yet nuclear struggles to get because of critics of nuclear energy. That opposition is very frustrating, explains … [Read more...]
Wide variations in National Energy and Climate Plans: how can the EU seriously budget for emissions reductions?
The EU has big and growing ambitions for emissions reductions by 2030: down 40% below 1990 levels, increasing the share of renewables to 32% of final energy consumption and improving energy efficiency by 32.5% above business-as-usual. These targets will be further revised as the more ambitious goal of cutting emissions by 55% by 2030 becomes legally binding. This means the EU as well as individual nations must estimate the cost of meeting these … [Read more...]
The Energy Charter Treaty makes the transition easier. Don’t scrap it, reform it
Energy and climate experts as well as national and EU parliamentarians are lining up to press their governments to withdraw from the Energy Charter Treaty (ECT) if insufficient progress is made in its modernisation. Their main argument is that it gives protection to fossil investments in a world where policies are changing in order to constrain or phase them out. Here, Frank Umbach at EUCERS sternly warns against abandoning the ECT. The treaty … [Read more...]
Nine advantages small-scale solutions have for reducing global emissions
Which is best? Spending your budget on a million 1 KW solar panels or a single 1 GW nuclear/hydro/gas plant? Lots of electric bikes or a single tram system? Lots of smart thermostats or whole-building retrofits? Charlie Wilson (University of East Anglia), Caroline Zimm (IIASA) and Simon De Stercke (Imperial College London) summarise their study that lists the advantages of small-scale “granular” solutions over large-scale “lumpy” ones. Granular … [Read more...]
The top Clean Energy developments of 2020
The world is still a long way off the pathway to meeting our emissions goals. But 2020 saw a number of major steps in the right direction. Laurie Stone at RMI presents a list of what has been achieved and which trends and new policy commitments are pointing us towards a much needed faster transition. They include coal’s decline, wind and solar’s growing competitiveness (even compared to gas), the promise of green hydrogen, bans on gas/petrol … [Read more...]
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