What are the sources of investment and sources of finance in the energy sector? Cecilia Tam, Paul Grimal, Jeanne-Marie Hays and Haneul Kim at the IEA summarise insights extracted from the IEA’s latest flagship World Energy Investment report which this year has dug much deeper into the subject. They look at the capital structure (debt versus equity) of energy investments in assets and companies. They look at the entities making the investments, … [Read more...]
Superconducting overhead Transmission Lines that deliver 400MW (and targeting several GW)
How do you double or triple your existing power transmission capacity when costs are rising and you face local opposition to the disruption? Zach Winn at MIT describes a new innovation that uses superconductors designed to transport five to 10 times the amount of power of conventional transmission lines, using essentially the same footprint and voltage level, carried on otherwise standard overhead lines. The superconducting cables (with much of … [Read more...]
Are the prospects for Small Modular Reactors being exaggerated? Five key characteristics examined
Small Modular Reactors (SMRs) are being presented as the next generation of nuclear technology. While traditional plants face cost overruns and safety issues, SMRs are seen by their champions as cheaper, safer, and faster to deploy. But Ed Lyman at UCS cites evidence that cast these claims into doubt. In five sections of this article, he lists the reasons why. SMRs are not more economical than large reactors. SMRs are not generally safer or more … [Read more...]
What China, Germany, and Texas tell us about Capacity Adequacy
As intermittent renewables penetrate further into the grid mix, reliable firm power generation is needed for whenever there is a shortfall. But back-up power, by its nature, has unreliable utilisation rates. And up-front costs for new plants are high, be they gas-fired plants, coal, nuclear, or large-scale storage. That makes future profitability uncertain, and private investors nervous. Hence the need for “capacity mechanisms” that guarantee … [Read more...]
France’s Macron wants to build 14 new Nuclear reactors by 2050. 6 is more realistic
France's President Macron is talking about a nuclear renaissance, after years of uncertainty over its future. The goal is to build 14 new reactors by 2050. But Jonathan Bruegel at IEEFA says this is unrealistc. France’s nuclear sector has much to recommend it. It produces up to 80% of the country’s total power generation, the highest share of nuclear in the generation mix anywhere in the world, and CO2-free. However, France hasn’t built a nuclear … [Read more...]
Two years on, how is Russia’s invasion of Ukraine driving energy security and decarbonisation?
Russia’s invasion of Ukraine has boosted anxiety and therefore action on energy security and dependence on oil and gas. Sanctioning Russian oil and gas imports is an opportunity to replace fossil fuels with low or no carbon alternatives, an opportunity that is being taken. And renewables like wind and solar are by their nature local and therefore good for energy security (though with notable exceptions). Charles Hendry, Ellen Wald, Olga Khakova, … [Read more...]
EU’s fossil fuel CO2 emissions drop to levels last seen in the 1960s
The EU’s CO2 emissions from fossil fuels (including power generation, industry and transport) dropped 8% in 2023 year-on-year, reaching levels last seen in the early 1960s, reveals an analysis by CREA. More than half of that decline came from an impressive 25% year-on-year reduction in CO2 emissions from power generation. The cleaner electricity mix is thanks to the continuous rise of wind and solar as well as a rebound in hydropower and nuclear. … [Read more...]
Can the EU and US end their dependence on Russia’s nuclear energy industry?
Russia’s invasion of Ukraine resulted in the EU and the US quickly imposing sanctions on imports of Russian oil and gas. But sanctions on Russia’s nuclear exports have been far lighter because alternatives are hard to find. Ihor Moshenets at the Central European University takes a deep dive into the current situation. He takes a close look at the EU and the US’s actual level of dependence, as well as moves by both to develop and enlarge their own … [Read more...]
Poland’s Coal-to-Nuclear plans move forward with U.S. partners
Poland sees nuclear as ideal for replacing its coal, explain Matt Bowen and Sagatom Saha at the Center on Global Energy Policy. Though Poland's renewables like wind and solar have grown rapidly in the last few years, reactors can provide dispatchable heat and power in the way that coal currently does. Poland is extremely reliant on coal, generating over 70% of its electricity and giving it the second-largest coal fleet in the EU. Hence, in … [Read more...]
EU Energy Outlook to 2060: power prices and revenues predicted for wind, solar, gas, hydrogen + more
Huangluolun Zhou, Elena Dahlem and Alex Schmitt at Energy Brainpool present their updated “EU Energy Outlook 2060”, modelling how the European energy system will undergo major changes in the coming decades while continuing to guarantee a secure supply and meet its climate targets. What do these developments mean for power prices, revenue potential and risks for solar PV and wind? The two main scenarios are “Central” and “GoHydrogen” for the EU 27 … [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...]
Though the price shocks hurt, Renewables installed between 2021-23 saved Europe €100bn
According to the IEA, without the solar and wind capacity additions made in 2021-23 Europe’s energy costs would have been €100bn higher in those three years, as prices spiked due to Russia’s invasion of Ukraine and the unexpected drop in output from nuclear and hydro. That money saved is another reason why the ramp up of renewables is so important, explains Joe Myers writing for the World Economic Forum who summarises the IEA data. Natural gas … [Read more...]
Does Nuclear slow down the scale-up of Wind and Solar? France and Germany can’t 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. Germany’s vision of a fully renewables-based EU is at odds with France’s 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...]
Nuclear power capacity is growing globally. Where, how and why
Ewan Thomson at the World Economic Forum summarises the state of nuclear power worldwide. In 2020 it made up 10% of global electricity generation, more than all the wind and solar PV combined. It’s the second-largest source of low-emissions electricity. But many advanced countries are no longer backing nuclear, citing safety and cost concerns, and instead are pushing the growing number of alternative clean energy technologies. Nevertheless, … [Read more...]
Russia’s war has exposed France and Germany’s 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 Europe’s ambitious climate targets much harder to achieve, explain Camille Lafrance and Benjamin Wehrmann at CLEW. … [Read more...]
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