In voluntary carbon markets, buyers (like big companies with emissions) voluntarily purchase and trade in offsets generated from emissions reduction or removal projects elsewhere. And in early 2023 momentum was building for them, but that soon collapsed as evidence of greenwashing grew: forestry programs were significantly overestimating their value. Allegra Dawes at CSIS lays out the background before explaining that systems must be put in place … [Read more...]
Most investors still arenât factoring in climate risks. Oil and Gas firms face virtually no additional borrowing costs
Extreme weather events are becoming more frequent due to climate change. At the same time, global decarbonisation is changing the economics of the energy sector. Yet credit ratings agencies arenât consistently factoring in the risk of climate-related change into borrowing costs, explains Matt Burke at the University of Oxford. For example, oil and gas firms are facing virtually no additional borrowing costs. Itâs a similar story for governments … [Read more...]
Modelling revenue potential for Germanyâs Battery Storage future
In the last ten years Germany has installed battery storage systems totalling 6.5 GW of power and 10.1 GWh of energy. Storage is an essential part of every nationâs electrification plans: for peak shaving, uninterruptible power for industrial customers, use as a buffer, and self-supply in households. Elena Dahlem and Alex Schmitt at Energy Brainpool start with a summary of storageâs use in the household, industrial and large-scale sectors. They … [Read more...]
EU now has 9,000+ âenergy communitiesâ: smart, decentralised, flexible generation and consumption
The goal of the EUâs âClean Energy for all Europeans packageâ (CEP), adopted in 2019, is to improve the functioning and design of Europeâs energy markets and systems. Luca Arfini, writing for ESCI, explains how, as part of the CEP, new market actors called âactive customers/consumers and citizensâ and âenergy communitiesâ are being established. As variable renewable generation grows, the whole system needs to be more decentralised, smarter and … [Read more...]
EU states agree deal on electricity market to protect consumers from price volatility, boost cheap renewable power
On Tuesday EU member states finally agreed on how to reform the bloc's electricity market after long months of difficult negotiations. The introduction of long-term contracts, particularly contracts for difference (CfDs), should stabilise prices for consumers and give certainty to investors in new generation. But the big concern had been how the state support implicit in CfDs might be used to bias the playing field in favour of nuclear and coal, … [Read more...]
What can todayâs Energy Revolution learn from the previous Industrial and Information Revolutions?
What can the Industrial Revolution and the more recent Information Revolution teach us about the Energy Revolution we are going through now, ask Yuki Numata, Laurens Speelman and Marissa Gantman at RMI. Importantly, the same questions that were ignored or dismissed in those past transitions will help us shape our energy transition to make it better, faster, less wasteful and polluting, as well as more equitable. The authors reveal a 4-part … [Read more...]
Voluntary Carbon Markets in turmoil: what must be done to make carbon offsetting work?
Headlines like âRevealed: more than 90% of rainforest carbon offsets by biggest certifier are worthless, analysis showsâ tell of the big problems faced by Voluntary Carbon Markets (VCM). VCMs are markets for buying, selling, and investing in carbon credits tied to avoided, reduced, or removed greenhouse gas emissions. But they are struggling to define, measure, verify, and value carbon credits in an efficient, transparent, and standardised … [Read more...]
Electricity Market Design – creating the stimulus for competitive Offshore Wind within the internal energy market
Ahead of the upcoming discussion in Brussels (September 18, 15:00, Polish Embassy REGISTER HERE) on how to stimulate renewable investment, see below for a reminder of what was discussed at our conference before the summer. This time around, following an open address by Wanda Buk, VP Regulatory Affairs at PGE, PGE Baltica's CEO, Arkadiusz SeksciĹski will be joined by Thor-Sten Vertmann, Electricity Market Design (EMD) expert within Ms Kadri … [Read more...]
Does Nuclear slow down the scale-up of Wind and Solar? France and Germany canât agree
France and Germany lead the camps in disagreeing on the future of nuclear in Europe. Camille Lafrance and Benjamin Wehrmann at CLEW take a deep dive into the reasons why, quoting experts and politicians. Germanyâs vision of a fully renewables-based EU is at odds with Franceâs unwavering support for low-carbon nuclear energy. European-wide agreement on targets matter because they drive future investment in the targeted technologies and the design … [Read more...]
Russiaâs war has exposed France and Germanyâs energy policy differences. Can it also bring them together?
France and Germany combined account for 45% of EU GDP and 40% of energy consumption. No wonder they are the most influential EU members. But the Russia-induced energy crisis has forced both Paris and Berlin to expose and admit the differences in their national energy strategies, and that has made a search for a unified voice for Europeâs ambitious climate targets much harder to achieve, explain Camille Lafrance and Benjamin Wehrmann at CLEW. … [Read more...]
Will U.S. become the Global Gas Marketâs source of flexibility and security of supply?
The U.S. will take the lead in offering flexibility and security of supply to the global gas market, and at prices linked to its wholesale gas market, the most liquid in the world, argue Kong Chyong and Ira Joseph at the Center on Global Energy Policy. Itâs because the U.S. leads in the three key sources of gas trade flexibility, critical to meeting unexpected supply and demand gaps: natural gas storage systems, spare capacity in production and … [Read more...]
âGreen Deal Industrial Planâ explainer: 40%+ of the top low-carbon technologies must be made in the EU by 2030
The ECâs new series of proposed targets and reforms, contained in its Green Deal Industrial Plan, aim to ensure that at least 40% of the EUâs low-carbon technologies will be made within its borders by 2030. The eight âstrategic net-zero technologiesâ are: Solar (power and thermal); Onshore and offshore wind; Batteries and energy storage; Heat pumps and geothermal; Electrolysers and fuel cells; Sustainable biogas/biomethane; CCS; Grid … [Read more...]
ReDREAM: Horizon-backed project gives consumers control of local renewables, prices and demand
The ReDREAM project, funded by EU Horizon 2020, wants to put consumers at the centre of the energy market. As Steve Gillman explains, people and businesses can shape their supply and demand by owning local renewable generation and combining that with smart systems that give visibility of prices and generation to enable control of demand, right down to the level of heat pumps, washing machines, hot water systems and EVs. A 30-household pilot is … [Read more...]
From lab to commercialisation: what is the optimal pathway for Clean Energy Technologies?
Itâs a considerable challenge to predict, decades in advance, what the world will need and get it from lab to market. Madeline Geocaris and Andrea Wuorenmaa at NREL summarise four case studies that reveal the key elements required: a good balance of technology, R&D, and public-private partnership; regulatory and market force alignment; good timing for market opportunities. The goal is the optimal pathway to the successful first … [Read more...]
Chinaâs electricity market design should choose from successes in Europe, UK, Australia, USA
China has made substantial initial progress in its electricity market reform, but it still faces an uphill struggle in promoting the consumption of renewables, resource allocation across provinces and regions, and unlocking demand side potential. To help choose the best solutions China could do well to look at the âHandbook on Electricity Marketsâ, says Daisy Chi at ECECP. The 600-page book looks at the current state of power markets around the … [Read more...]
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