In December we reported that in 2018, the U.S. became the world's leading oil producer for the first time since the 1970s. It is tipped to produce 12 million barrels of oil per day this year (up approximately 10% year on year), and over two-thirds of it will come from shale producers. But the consequent squeeze on the oil price meant U.S. Oil & Gas firms ended the second year in a row at the bottom of the stock market. IEEFAâs director of … [Read more...]
Investment risk: nuclear high, new load-following fossil fuel plants low
In the current policy environment many energy technologies can appear attractive with the right set of assumptions: discounted clean energy technologies (wind, solar and nuclear) where the discount rate is heavily influenced by risk (see graph) and, perhaps surprisingly, new load-following fossil fuel plants (especially natural gas) where continued wind/solar technology forcing actually provides substantial upside potential. CCS researcher Schalk … [Read more...]
Can Teresa Ribera transform Spain into a green champion?
In a draft bill released on 13 November, the Spanish government is proposing to ban fossil fuel subsidies and fracking, reduce greenhouse gas emissions by 20% by 2030 (37% compared to current levels) and 90% by 2050, boost the share of renewables to 35% (70% of power generation) in 2030 and discourage diesel and petrol cars. Natalie Sauer of Climate Home News portrays the woman behind the plan, ecological transition minister Teresa Ribera, and … [Read more...]
Study says no way to decarbonise the gas sector by 2050
Gas industry advocates argue that expansion of gas infrastructure is justified because it will be possible to switch to low-carbon gases such as hydrogen and biomethane in future. But research by the International Council on Clean Transportation (ICCT) predicts that biomethane production will remain modest, even with massive subsidies. … [Read more...]
Bioenergy carbon capture: Climate snake oil or 1.5C panacea?
Most models for meeting 1.5â or 2â climate change targets suggest we will be using bioenergy carbon capture and sequestration (BECCS) to mop up the worldâs total annual CO2 emissions by around 2070 (for 2â). This means moving from todayâs three BECCS power plants to 16,000 by 2060. But, explains Paul Behrens of Leiden University, large-scale BECCS is a âmonumentally tricky idea,â and, while aiming to fix climate disruption, it makes many things … [Read more...]
Are solar microgrids the future in the developing world?
Setting out to evaluate the real-world performance of solar microgrids in developing countries, a team from the Energy Institute at Haas partnered with startup Gram Power to provide small smart grid systems to unelectrified rural communities in India. While many industry experts see microgrids as important for future electrification, what the team found was that few communities wanted them, and they were difficult to implement and operate. … [Read more...]
Energy transition: The greatest switch capital markets have ever seen
Even the most engaged energy pundits tend to gloss over what may be one of the biggest changes of all in a clean energy transition: how we pay for and finance the energy we use, and what that may mean for the investors, industries and companies that provide that energy. David Nelson of Climate Policy Initiative explains why investment strategies, financial markets and business models also need to transform. … [Read more...]
Tesla big battery defies sceptics, sends industry bananas over performance
Itâs less than a year since the Tesla big battery was installed at Hornsdale in Australia and the worldâs largest lithium-ion battery has exceeded all expectations, says Giles Parkinson of Reneweconomy.com. Quicker, cheaper and with greater reliability, versatility, accuracy and efficiency than predicted, the storage system also looks set to provide a fast return on investment â results that have led to a rash of new battery projects in the … [Read more...]
Chinaâs Belt and Road as a conduit for clean power projects
Chinaâs Belt and Road Initiative is arguably the biggest regional connectivity and cooperation programme in operation today. But with China being a major polluter, there are also concerns the Initiative could just be adding to global environmental stress. Not so, argue John A Mathews and Carol X Huang of Macquarie University, Sydney: itâs actually a magnet for renewable energy investments. Courtesy of The Asia-Pacific Journal. … [Read more...]
Flexible printed solar cells â a new manufacturing frontier?
The University of Newcastle in Australia has unveiled a 200m2 rooftop solar array made from innovative flexible and printed solar cells that could further revolutionise the global use and manufacturing industry of renewables. According to Professor John Mathews of Macquarie University in Australia, this could be a giant step forward for solar cells. Courtesy Global Green Shift blog … [Read more...]
What role for gas in Europeâs 2050 energy system?
The European Commission sees natural gas play a critical role in the energy transition to 2035, but beyond that its views on the role of gas are much less clear. Simon Blakey, analyst at IHS Markit, does not believe that renewables can be ramped up quickly enough to replace coal generation. Jonathan Gaventa of think tank E3G argues gas has no place in the energy mix by then, unless it is decarbonized. Energy Post editor Jason Deign spoke to both … [Read more...]
Hydrogen is heading up the European policy agenda
Hydrogenâs momentum is building, as European ministers consider approving a new âHydrogen Initiativeâ this week that aims to âmaximise the great potential of sustainable hydrogen technology.â With funding from the EUâs Fuel Cells and Hydrogen Joint Undertaking, a consortium of industrial heavyweights in the H2FUTURE project is already ramping up production of hydrogen from renewable sources. But, as the International Renewable Energy Agency notes … [Read more...]
Why we need a blackout
The risk of a cyber-attack that will take down the power system is seriously underestimated, writes financial energy specialist Gerard Reid. To prevent future disaster, we need to build a completely new power system. Reliability is not anymore about the âaverage minutes of downtime per yearâ. Courtesy Energy and Carbon blog. … [Read more...]
An evening with ecomodernist Michael Shellenberger (or: a defence of nuclear power you have not heard before)
Pro-nuclear activist Michael Shellenberger, founder of the California-based global citizens movement Environmental Progress (ânot paid by the nuclear industryâ) was in Amsterdam recently, where he gave a very personal âEcomodernistâ defense of why nuclear power is good and how it should be supported. âIt is about protecting the natural environment by concentrating human activity.â This article was first published on Energy Post Weekly. … [Read more...]
DNV GLâs Energy Transition Outlook shows massive shift of investment from oil and gas into power lines
The global energy transition will lead to a massive expansion of power lines at all voltage levels as well as a steep growth in the number of transformers and substations in the electricity system. This is one of the major new findings of the second edition of the Energy Transition Outlook, the annual flagship publication of global technical consultancy DNV GL. As a result, grid costs will triple, yet this cost explosion is offset by cost … [Read more...]
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