The rapid pace of change in the energy sector is a positive sign for the transition. But the disruption it causes creates another big problem. It makes it harder to predict what will happen next. That makes strategies and pathways harder to design, and increases the risk of stranded assets. To try to come to grips with that future, Sean Ratka, Paul Durrant and Francisco Boshell summarise the findings of IRENA's 4-day āInnovation Weekā held last … [Read more...]
U.S. Nuclear: change the laws that constrain foreign and domestic investment
Today, Russia and China dominate global nuclear exports and new additions while the U.S. experiences budget overruns and cancellations. Once at the forefront, the U.S. should regain its leadership of nuclear power, argue Matt Bowen, Jennifer Gordon and Jackie Kempfer at the Atlantic Council. To recover its position it first needs to change the laws and policies that constrain its ability to cooperate with allies on nuclear matters, invest in … [Read more...]
Renewables shares outperformed fossil fuels over 10 years. Have investors noticed?
Shares in listed renewables firms are outperforming their fossil fuel equivalents, both in terms of returns and volatility. But although investment is rising, theyāre still not getting enough to meet our 2050 targets, says the IEA. Why? In this article summarising the first of a series of reportsĀ they look at the 5 and 10 year record of the two verticals. In all the three territories analysed ā the U.S., the U.K., and Germany/France - renewables … [Read more...]
Zero U.S. power sector emissions by 2035, says Biden. How?
Joe Biden, the Democratic presidential hopeful, wants to reduce U.S. power sector emissions to zero by 2035. Thatās more ambitious than Obama, and more than what Biden promised when campaigning to be the Democratās candidate. His emphasis has been on the jobs and investment a green economy will create ā language that has more voter appeal than reversing emissions. Meredith Fowlie at UC Berkeleyās Energy Institute at Haas reviews the promises … [Read more...]
U.S.: Counting Renewables jobs and projects under threat, what can be done and why
All sectors across all economies are trying to add up their potential job losses and projects in jeopardy, then telling their governments to prioritise them for Covid lockdown support. Mike Jacobs at the Union of Concerned Scientists looks at renewables in the U.S. He quotes news reports that over 100,000 workers in this fast-growing industry filed for unemployment in March 2020. On top of that, the already planned expiry and phase-down of … [Read more...]
Designing the Covid-19 stimulus: what the 2008 crisis can teach us
Policy makers around the world are hearing a lot of advice on how to design their stimulus packages. This comes from the IEA where Fatih Birol lays out five fundamental lessons we can learn from the stimulus packages that came out of the 2008 global financial crisis. His main headings are: Build on what you already have ā and think big (e.g. feed-in tariffs, production tax credits); Choose technologies that are ready for the big time (e.g. wind, … [Read more...]
IEA: Three ways governments can keep Renewables growth on track
Before the coronavirus pandemic, 2020 was set to be another record year for renewables installations. That is now looking very unlikely. Heymi Bahar at the IEA identifies three main challenges facing the growth of renewables due to the global economic consequences of the pandemic: Supply chain disruptions, anywhere, will surely lead to delays in completing projects everywhere; Compounding those delays, major renewables incentives expire at the … [Read more...]
Will China build more Coal to stimulate the economy?
Could China ramp up coal generation ā of the order of hundreds of GW by 2030 - as part of its efforts to stimulate its economy and recover from the coronavirus slump? The thinking is that building a coal plant converts faster into economic growth than the equivalent spent on renewables. In the previous decade, building coal plants was an effective part of Chinaās economic growth plan that secured its place as the worldās second largest economy. … [Read more...]
Coronavirus: economic stimulus plans open a door for clean energy
Weāre facing an unexpected global economic slump thanks to the coronavirus sweeping across the world. In response, governments everywhere are tabling stimulus packages to get us through what is a temporary but severe drop in economic activity. That stimulus could be used, as it usually is, to get us back on the same path. But it should be used to steer us further and faster onto the new path of clean energy, says Fatih Birol, Executive Director … [Read more...]
EU Green Deal: meeting targets by lowering non-EU neighbour emissions too
The EUās Green Deal and its increasingly ambitious transition policies cannot be limited to its member states, writes Marc-Antoine Eyl-Mazzega at the IFRI Centre for Energy & Climate. For its emissions targets to be met in a meaningful way the EU needs to ensure its neighbours to the east and in North Africa follow. The danger is that carbon intensive industries simply shift to those neighbours, and their products get imported back in. … [Read more...]
BPās zero-carbon pledge: three major challenges
This month BP, one of the worldās largest oil and gas firms, announced its ambition to be a net zero emissions company by 2050. The promise extends to cutting the emissions of its customers too; after all, theyāre the ones who are actually burning the fuel, not BP. So it aims to reduce the carbon intensity of its products by 50% by 2050 or sooner. Jules Kortenhorst, Tyeler Matsuo and Raghav Muralidharan at Rocky Mountain Institute take a look at … [Read more...]
Polandās PGE: profits from Renewables can replace declining Coalās
Polandās PGE is one of Europeās most fossil fuel intensive energy firms. Coal makes up around 90% of its electricity generation.Ā Itās been investing around PLN 28bn ($7.2bn, ā¬7bn) to build three new coal power plant units, acquire the Polish coal assets of Franceās EDF, and upgrade its existing fleet to meet air quality standards. But a new and detailed report from IEEFA warns that the profitability of these investments will decline in the 2020s … [Read more...]
UK to phase out petrol, diesel, hybrid car sales by 2035. Hereās how
This month the UK government promised to accelerate the phase-out of fossil-fuelled cars. From 2035 all new diesel and petrol car sales (including hybrids) are banned. Promises are one thing, realistic policies, plans and investment is another. Last year only 1.6% of new passenger vehicles sold were EVs and that has to rise to 100% in 15 years. Ashley Fly at Loughborough University sets out what needs to be done. First, skills and training; much … [Read more...]
The cost of climate inaction: putting a $ price on 4.5Ā°C warming
Oriana Tannenbaum and Rushad Nanavatty at Rocky Mountain Institute (RMI) have gathered data that puts a price on not making the necessary investments in tackling climate change. For the U.S., a 4.5Ā°C warming scenario (by 2050) will cost $5.2tn. At a more drastic 6Ā°C the cost is $17tn. These projections are hard to do when treating the climate as an āinfrastructure assetā, though proven methodologies do exist for tradition assets, and the authors … [Read more...]
Modelling total costs for Onshore Wind power plants: from site prep to grid connection
The costs of wind turbines is dropping. But that means all the other capital costs - site preparation, foundations, infrastructure, tower construction ā will become a bigger part of the total. In the U.S. they currently account for around 30% of the capital expenditures needed to install a land-based wind plant. To keep those costs under control the National Renewable Energy Laboratory (NREL) has created a comprehensive open-source modelling … [Read more...]
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