The speed and policies required for a successful transition depend on our ability to measure emissions accurately and globally. That’s why Europe is readying a new fleet of three satellites to monitor CO2 emissions at every point on earth, creating the first worldwide system capable of measuring at city and even power plant level in close to real time, reports Karl Mathiesen at Climate Home News. It will mean, for example, a city can measure how … [Read more...]
UK oil & gas keeps rising. Clean Energy blueprint can reverse it
In the UK the £2.3bn (=$2.9bn / €2.6bn) in new oil and gas subsidies introduced since 2014 will state-fund the addition of twice as much carbon as its coal phaseout saves, says a new report “Sea Change: Climate Emergency, Jobs and Managing the Phase-out of UK Oil and Gas Extraction”. Can the UK call itself a climate leader if its existing policies push it over its emissions limits? It can, if you consider this: the UK took 16 years to become the … [Read more...]
36bn GWh: the “limitless” Geothermal from old UK coal mines
The Earth gets hotter by 2.5C to 3.5C with each 100m depth. It’s what makes geothermal energy possible, anywhere. In the UK geothermal could meet the nation’s heat demands for at least 100 years, say Jon Gluyas, Andrew Crossland and Charlotte Adams of the Durham Energy Institute. Properly managed it could last indefinitely. Given that heat does not travel well, geothermal must be developed locally. Fortunately, accessible heat lies beneath or … [Read more...]
There’s a limit to raising CO2 taxes. Re-focus on energy innovations to reverse emissions
Stop obsessing about raising CO2 taxes, says Severin Borenstein at the Energy Institute at Haas. It’s good, but not enough. Why? Textbook economics says if you tax something bad, innovators are incentivised and rewarded for coming up with something better. That’s true for cigarettes (vaping), plastic wrapping (recyclables, biodegradables), traffic (public transport). But there’s a limit with CO2 taxes, says the author. In developing countries … [Read more...]
Less politically centralised, can the EU remain a transition leader?
As a region the EU is a transition leader. Its primary energy consumption increased by only 0.2% in 2018 (globally it rose by 2.6%) and its CO2 emissions dropped by 1.7% (globally, up 1.7%). But the EU’s move towards greater “subsidiarity” and devolution of power, to counterbalance too much centralisation, has made it harder for the EU to act quickly and act big, says Lucien Chabason, Senior Advisor at the IDDRI. One example: how easily can … [Read more...]
UK: Despite progress, 100% low-carbon is still a long way off
The UK transition is often cited as a success story. Coal’s contribution has dropped from 40% to 6%. Wind, solar and hydroelectric now generates more electricity than nuclear. Demand for electricity has also fallen. The carbon intensity of Britain’s electricity has almost halved, from over 500g of CO₂ per kilowatt-hour in 2006 to under 270g in 2018. The National Grid now expects to be able to operate a zero-carbon electricity system by 2025. But … [Read more...]
Should electric vehicle drivers pay a mileage tax?
In the U.S., EV drivers don’t pay tax when they buy gasoline. That means EVs have reduced U.S. gasoline tax revenues by $250m annually. It’s only 1% of the total, but that’s because EVs are less than 1% of the vehicle stock. Clearly, as EV numbers increase, so will that lost revenue. As a result, several states are considering imposing a mileage tax on electric vehicle drivers to make up for it. And why not?! EVs are not carbon-zero (most … [Read more...]
“Responsible” ESG investments hit $20tn, a quarter of the world’s professionally managed total
ESG (Environmental, Social and Governance) factors measure the sustainability and ethical impact of an investment. ESG includes the energy sector, and the amounts spent show it’s no longer just an ethical choice, says The Rocky Mountain Institute’s Todd Zeranski. It doesn’t just save the planet, it saves our pensions. Why? From regulatory penalties to the cost of climate clean-up, fossil fuel investments are getting too risky and expensive. Those … [Read more...]
Competitive battery storage: InnoEnergy doubles prize to accelerate start-ups entry to market
Utilities and other investors are putting more funds than ever into a battery storage market worth an estimated $250 billion. Right on cue, European clean energy innovation engine InnoEnergy announced a global call for storage entrepreneurs. Their €100,000 first prize meant applications from a diverse range of start-ups flooded in. But which of these should be fast-tracked into this competitive market? At a special event which highlighted a … [Read more...]
We need to trace the real fossil fuel users, not just the “end consumers”
Climate-consciousness is rising among ordinary citizens. But most fossil fuels are consumed by large technological systems (electricity networks, urban transport systems, built environments, industrial and agricultural systems), not by individuals. Simon Pirani says we need to trace that consumption to its true source, and thereby put the pressure directly on them to transition. It’s not simple: even the IEA admits it loses track of who is … [Read more...]
What’s next for the geopolitics of energy transformation?
January’s IRENA report “A New World” has kick-started the debate on how the accelerating deployment of renewables will affect and alter the global distribution of political and economic power. Jan Frederik Braun and Daniel Scholten review its findings and build on the list of issues that must be faced. For example, although the IRENA report focuses on electrification the authors say power-to-gas is likely to play a major role, and we must face up … [Read more...]
Virtual power plants: a story of market rules and smartgrids
Access to the grid-balancing market is competitive and carefully regulated. Green electricity from distributed and behind-the-meter renewable assets is already being traded on wholesale and balancing markets. The assets come in all shapes and sizes: roof-top solar, farmyard biofuel installations, EV and home battery systems, community energy projects, wind installations and heat pumps to name but a few. When they are pooled, by aggregators, they … [Read more...]
Decarbonisation of Transport: Options and Challenges – free Brussels debate and report launch
Decarbonisation of transport remains one of the most challenging aspects of the transition to a sustainable energy system. Focussing on road transport, the European Academies' Science Advisory Council (EASAC)'s upcoming report contains detailed recommendations for actions on the part of all major stakeholders. The report will be officially launched at what promises to be a fascinating event featuring a high-level panel discussion with speakers … [Read more...]
GGFI: “Avoid carbon bubble, choose financial centre wisely”
We already have indexes that pick green stocks, and rank nations by their policies. The Global Green Finance Index (GGFI) ranks the world’s financial centres – London, New York, Singapore, Shanghai, etc. – by the policies and support they give to green investments. Old ways of valuing assets, particularly in fossil fuel companies, are being questioned say Mike Wardle and Michael Mainelli of the think tank Z/Yen, one of the creators of the index. … [Read more...]
Green New Deal can learn from Obama’s $90bn clean energy plan of 2009
The “Green New Deal” proposal is a 10-year plan to curb climate change by shifting the U.S. economy away from fossil fuels. Will it work? Yes (with caveats) if it’s anything like President Obama’s 2009 American Recovery and Reinvestment Act: it invested $90bn to promote clean energy as part of an economic stimulus plan to recover from the bank crash. That's the view of Joseph Aldy, Associate Professor of Public Policy at Harvard Kennedy School, … [Read more...]
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