Last year, wind and solar reached a record 12% of global electricity generation, according to think tank Ember’s latest global electricity review. The overall share of all forms of low-carbon electricity rose to almost 40% of total generation. Josh Gabbatiss at Carbon Brief goes through the Ember review which heralds this as the moment fossils began their permanent decline. Ember calls it “structural” and “enduring” because previous declines only … [Read more...]
Renewables “cost of capital” in Europe lower than oil, gas, coal. What the U.S. and China can learn
The ultimate price of anything is highly dependent on the cost of capital needed to put it in place. That cost reflects the risks financial markets perceive. And policy certainty reduces risk. Gireesh Shrimali, Christian Wilson and Xiaoyan Zhou at Oxford University, writing for WEF, summarise their global study which shows the cost of capital for different energy technologies, and therefore which ones will trend upwards and dominate. They cover … [Read more...]
‘Green Deal Industrial Plan’ explainer: 40%+ of the top low-carbon technologies must be made in the EU by 2030
The EC’s new series of proposed targets and reforms, contained in its Green Deal Industrial Plan, aim to ensure that at least 40% of the EU’s low-carbon technologies will be made within its borders by 2030. The eight “strategic net-zero technologies” 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...]
Fulfilling U.S. wind and solar ambitions will use under 1% of its land (that’s less than the fossil fuel footprint)
Meeting the U.S.’s wind and solar ambitions in full would take up less than 1% of its land, less than the fossil fuel industry’s current footprint. Steve Clemmer at UCS goes into the details of NREL’s comprehensive study of land use for wind and solar. Of particular interest is the observation that setting a high bar for “responsible siting” of wind and solar projects - avoiding the use of sensitive, protected, urban areas, difficult terrain or … [Read more...]
Critical Minerals: will there be enough to meet the 2050 net-zero emissions target?
If the production and processing of critical minerals cannot keep up with the accelerating adoption of batteries, EVs, wind turbines and solar PV technologies, the pace and success of the global energy system transformation will be put at risk. In this explainer, Lilly Yejin Lee and James Glynn at the Center on Global Energy Policy, Columbia University address the big questions, drawing on the data underlying the IEA’s “The Role of Critical … [Read more...]
EU: data shows Russia–Ukraine war has not increased Coal and emissions. It’s quite the opposite
The Russian gas crisis has not resulted in the return of coal and high emissions in Europe, says Lauri Myllyvirta at CREA. He presents the figures that show quite the opposite. Coal returned, as expected, with the post-Covid rebound, but peaked in September 2022 below its pre-Covid level, and has been falling since along with emissions. Meanwhile, high gas prices caused by Russia’s cut-off has kept gas demand low and, more importantly, driven the … [Read more...]
Green Hydrogen’s 6,000-fold scale-up by 2050 must far exceed Wind and Solar’s. Is it possible?
To scale “green” hydrogen to make its contribution to limiting warming to 1.5C, electrolyser capacity needs to grow 6,000-fold by 2050 from today’s levels of 600MW, according to the IEA’s Net-Zero emissions by 2050 scenario. Adrian Odenweller and Falko Ueckerdt at the Potsdam Institute for Climate Impact Research, writing for Carbon Brief, summarise their study that concludes even if electrolyser capacity grows as quickly as wind and solar, it is … [Read more...]
What if Exxon had acted on its 1970s climate forecast? No climate crisis, cheap energy, Exxon the unrivalled top global energy firm
In January the world media widely covered a paper published in Science that looked at the internal Exxon report that predicted the climate change crisis we now all know we are facing. The paper concludes that the Exxon forecasts were very accurate. John Grant at Sheffield Hallam University composes a counterfactual history of what would have happened in Exxon and the world had taken the report seriously and acted immediately. Yes, we’d have … [Read more...]
Wind and Solar generated record 20% of EU electricity in 2022. More than gas, nuclear, hydro, coal
Now 2022 is over, the figures are in for all the main electricity generation types. For the first time ever, wind and solar delivered more electricity in 2022 than gas, nuclear, hydro or coal. In total, that’s a record one-fifth of the EU’s electricity last year. We can thank the “triple crisis” of Russian gas cuts, the 500-year record drought’s effect on hydro, and the unexpected French nuclear shutdowns for the renewed drive for wind and solar. … [Read more...]
Wind (and Solar) need their own Financial Transmission Rights to hedge their unique congestion risks
Financial Transmission Rights (FTRs) help generators and load-serving entities hedge congestion-related risk. Transmission congestion causes a divergence between wholesale power prices where it is generated and the trading hubs where it is delivered and sold. Because the congestion, and therefore the risk, varies over time it is particularly important to variable renewables. That uncertainty increases investor risk which potentially slows … [Read more...]
How to tax renewable energy firms for windfall profits from high wholesale electricity prices
Should windfall taxes be imposed on renewable energy firms that have benefitted from the current high electricity prices caused by the increases in oil, gas and coal prices triggered by Russia’s invasion of Ukraine? If so, how, and how much? The IEA has conducted a study of the EU to try to uncover who has (and hasn’t) made extraordinary profits, and how much. Up front they say this is difficult to do as the majority of installed renewable … [Read more...]
Russia, fossil prices, energy security will boost Renewables to 38% of global power mix by 2027, says IEA
The IEA has raised its 2027 forecasts for total renewables additions in its main scenario to 2,383GW – around the total power capacity of China. That’s a 28% increase on the previous estimate and up 76% from two years ago, explains Josh Gabbatiss at Carbon Brief who summarises the IEA’s latest forecasts. Globally, solar power will overtake gas by installed capacity in 2026 and coal in 2027. There are two main drivers for this acceleration. High … [Read more...]
Distribution Grid Digitalisation – benefits, policy, cost & funding
About a third of European grids are over 40 years old. A rapid physical overhaul would be impossible, so the addition of a layer of digital technologies is the key to preparing them for the distributed and intermittent generation from renewable sources, the increased electricity demand from transportation, heat pumps and other sectors, and for ensuring energy efficiency at all levels. It’s why the EC expects about €584bn of investment in Europe’s … [Read more...]
Health benefits of Wind Power: first replace the most polluting fossil plants, not the most expensive
It makes economic sense, when intermittent wind (or solar) generation rises, to turn down the most expensive fossil plants. Or does it? Join the dots to health costs and it may make more economic sense to turn down the most polluting plants first. Jennifer Chu at MIT describes research there that creates models and scenarios to interrogate that theory. Using hourly generation records, pollution and health cost data from across the U.S. they found … [Read more...]
Comparing the efficiency and progress of the 5 leading Solar PV cell technologies
NREL’s “Best Research-Cell Efficiency Chart” allows researchers to easily compare the performance of specific PV technologies, stretching back 50 years. It’s regularly updated and is free to use, explains Wayne Hicks and Harrison Dreves at NREL. A new “interactive” version is now available. The focus is on crystalline silicon cells, single-junction gallium arsenide cells, multijunction cells, thin films, and emerging PV. For example, you can … [Read more...]
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