Universities worldwide still produce more workers for fossil fuels than for renewable energy industries. Roman Vakulchuk and Indra Overland at the Norwegian Institute of International Affairs summarise their new study on the energy transition in global higher education, published by the Energy Research & Social Science journal. The study is based on a review of 18,400 universities in 196 countries. 68% of the worldâs energy educational … [Read more...]
Hydrogen: most nationsâ plans to export to Europe donât match reality. The EU should make it itself
The EUâs RePowerEU plan, quickly made in response to Russiaâs invasion of Ukraine, aims to produce 20m tonnes of renewable hydrogen by 2030, with half coming from imports. Here, T&E summarise their report that concludes this is unrealistic. The report looks at six key countries with plans to export hydrogen to the EU: Norway, Chile, Egypt, Morocco, Namibia and Oman. T&E says these countries combined would only be able to deliver a quarter … [Read more...]
The link between global GDP growth and CO2 emissions is weakening rapidly. Will emissions peak well before 2030?
Economic growth has been closely tied to rising greenhouse gas emissions since the industrial age. But data now clearly shows that that GDP growth and CO2 emissions are diverging. Siddharth Singh at the IEA presents the numbers. In advanced economies that divergence now seems locked in, with 2007 marking the moment of peak emissions (and not simply because of offshoring manufacturing). Even in developing economies GDP growth is far outpacing … [Read more...]
Italy: Capacity Auctions for 71 GWh of additional Grid Storage
Italy needs 71 GWh of new utility-scale electricity storage capacity by 2030 to meet EU targets to cut emissions by at least 55% by 2030, according to Terna which manages Italyâs transmission grid. ***STOP PRESS*** This Tuesday at 11:00 CET, Energy Post is exclusive media partner to a dedicated webinar (organised by ATA Insights/RENMAD) on Capacity Market Auctions REGISTER FREE HERE. In this article, Sara Stefanini summarises the Terna study, … [Read more...]
Germany: Carbon Prices could phase-out Coal by 2030 without a new law
The upward trend in the carbon price since 2015 has already seen coal generation decline significantly. Last year, total generation was a little over 100 TWh; it was 263 TWh in 2003. Sebastian Ligewie at Energy Brainpool looks at the prices of hard coal, lignite and the EUAs (EU emission allowances). Itâs around âŹ37 per MWh for hard coal and âŹ8 for lignite. But emissions costs of around âŹ63 per MWh for hard coal and âŹ84 for lignite are added to … [Read more...]
Massive global expansion of Renewables coming. But weâre still short 20% of our 2030 target
The IEA has released the 143-page âRenewables 2023â, the latest edition of its annual report on the sector. The world added 50% more renewable capacity in 2023 than in 2022 and the next 5 years will see fastest growth yet. Under current policies and market conditions, global renewable capacity is already on course to increase by two-and-a-half times by 2030: great news but still short of the tripling we need. A key reason for the gap is the lack … [Read more...]
Clean energy forecast map tells firms where to build their facilities to minimise emissions
For companies that are serious about their net-zero targets, where you run a facility affects your results. Building a new facility in a region where renewables are ramping up will keep your emissions low. Connor O'Neil at NREL explains how analysts there, in partnership with Amazon, are building out datasets that take a forward look at where clean energy is growing. The âCambiumâ data sets contain modelled hourly emission, cost, and operational … [Read more...]
China didnât sign the global pledge to triple Renewables and double Efficiency. Why?
Announced at COP28, a total of 123 countries committed to tripling renewable power capacity and doubling energy efficiency by 2030. China didnât. Why? Quoting experts, Lin Zi at China Dialogue explains that the bundling together of the two targets is the problem. Tripling renewables is very achievable; in fact China may well exceed that target. But reducing energy intensity is not easy, even though China has a good record: among the G20 members, … [Read more...]
Global inflation: high borrowing costs threaten the continued growth in Renewables. What must be done?
Over the last decade, investors and governments got used to two supportive trends: relatively cheap capital from low interest rates, and steadily falling costs. However, this changed as the world emerged from the Covid pandemic and into the global energy crisis. In a new era of high interest rates, the impressive growth in renewables deployment is under threat, explain Tim Gould, David Fischer, Paolo Frankl and Heymi Bahar at the IEA. Renewables … [Read more...]
Building and financing the expansion of Europeâs electrical interconnection market
In the first of a series of four articles covering the expanding market for electrical interconnections in Europe, Jean-Baptiste Vaujour at the Emlyon Business School sets the scene by presenting the main points and current developments around the difficulties of building and financing these assets. Interconnectors allow power to be sent across borders to meet the shortfall where supply is not meeting demand. For example, European electricity … [Read more...]
Another good year for Renewables. But can we triple Wind and Solar by 2030?
COP28 saw a calling for a tripling of renewable capacities by 2030, off the back of positive signs. In 2022, 80% of incremental power demand and 12% of electricity generated worldwide came from solar and wind. And the IEA believes solar generation can grow at 25% to 2030. But, as Ramnath Iyer at IEEFA explains, specific challenges must be met to ramp up successfully. The non-financial barriers include a lack of policy clarity, permitting, and … [Read more...]
Five major outcomes from COP28 (and next yearâs is in Azerbaijan, another oil and gas producer)
Mark Maslin, Priti Parikh and Simon Chin-Yee at UCL lay out the five major outcomes from the latest COP28 climate summit in the UAE, a major oil and gas producer. Though in the run up there was great hope for a new climate agreement on the phasing out of all fossil fuels, that never happened. Phase out turned into a âtransition away from.â The authors note that the first ever mention of fossil fuels in an international climate agreement was only … [Read more...]
Another chapter in Offshore Windâs stop-go story: New York
New York State should be leading the offshore wind ambitions of the U.S. The region enjoys high capacity factors for offshore wind, especially during the peak winter heating season. And New York is used to being a leader in so many things. Thatâs why it put its climate reputation at risk in October when the state government announced it would not renegotiate contracts with offshore wind providers Ărsted, Equinor and BP, explains Joseph Webster at … [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 âEU Energy Outlook 2060â, 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 âCentralâ and âGoHydrogenâ for the EU 27 … [Read more...]
How to manage price risk as the EU shifts from Russian Gas to Renewables
Europe is phasing out Russian gas and replacing it with more renewables. That means there will be greater demand variability and a resulting impact on European spot gas prices. The problem is that long-term contracting, the traditional way for buyers to mitigate spot price risk, is incompatible with Europeâs climate objectives of reducing long term consumption of gas. Kong Chyong at the Center on Global Energy Policy proposes alternative policy … [Read more...]
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