Cryptocurrency has an energy consumption problem. Bitcoin alone is estimated to consume 127 terawatt-hours (TWh) a year — more than many countries, including Norway. Decarbonizing the crypto industry thus remains essential to achieving a safe climate future. With lawmakers increasingly looking at the effects of Bitcoin mining, from both an environmental and grid-resiliency perspective, lowering energy usage of this crypto currency is a must.
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High fossil fuel prices have resulted in windfall profits for some energy companies. In fact, the profits of major oil, gas, coal and refinery companies in the first half of 2022 more than doubled from the same period last year, and discussion on windfall profits in the European Union has extended to electricity generators (including renewables-based ones) that can produce electricity at lower marginal costs than natural gas-fuelled power plants.
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The Philippines’ wind and solar sectors will lead renewable capacity growth over the coming 10 years following robust governmental support and investor interest. From 2022 to 2031, we expect the Philippines’ non-hydropower renewables sector to experience the greatest expansion. It will grow by 6.8GW and at an annual average rate of 10.4%, surpassing conventional thermal’s increase of 5.8GW.
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The UK government has, as part of its new Energy Plan published on 21st September 2022, proposed a six month scheme for businesses, voluntary sector organisations (such as charities) and public sector organisations (such as schools and hospitals), known as the Energy Bill Relief Scheme (the “Scheme”). The Scheme seeks to provide protection to businesses equivalent to that afforded to domestic household consumers under the Energy Price Guarantee mechanism.
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During H1, green bonds amounting to USD236 billion were added to the Climate Bonds GBDB as Q2 issuance (USD133 billion) picked up slightly compared to Q1 (USD103 billion). May was the busiest month (USD50 million) helped by several large deals from Austria, which priced its first sovereign green bond, a 2049 maturity (EUR4 billon/USD4.2 billion), TenneT (a four tranche deal worth EUR3.85 billion/ USD4.1 billion), and EIB (EUR4 billion/USD4.3 billion).
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This report published by icct in conjunction with the European Clean Trucking Alliance (ECTA), identifies several levers that can be activated today to catalyze the growing demand from the logistics sector and accelerate the deployment of zero-emission trucks in Europe. It also recommends a number of actions to accelerate the deployment of zero-emission trucks in Europe.
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Creating the foundation for transforming the G5 Sahel countries from power fragility to power resilience by establishing sustainable and widespread energy supplies aptly summarises the objectives of 2021 for the Desert to Power (DtP) Initiative. This progress report by the African Development Bank for the G5 Sahel countries covers January to December 2021. It highlights progress made towards the five, key priority objectives for 2021 and outlines emerging priorities for 2022.
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This report by Ember sets out a potential pathway the UK could take to drastically reduce gas consumption in the power sector by 2030. It analyses cost savings from a timely transition from gas to a clean power system, as well as discussing energy security considerations and recommendations for policy support. Ember’s own power sector model is described and compared against other leading studies on the UK’s energy transition.
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In November 2021, Congress passed, and President Joseph R. Biden, Jr. signed the Infrastructure Investment and Jobs Act (Public Law 117-58), also known as the Bipartisan Infrastructure Law (BIL). This historic, once-in-a-generation legislation authorizes and appropriates $62 billion for the U.S. Department of Energy (DOE), including $9.5 billion for clean hydrogen. This draft report by the U.S. Department of Energy (DOE) sets forth the “DOE National Clean Hydrogen Strategy and Roadmap.”
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The analysis in this report by IRENA shows a comprehensive and more ambitious energy transformation in tune with Paris Climate Agreement goals supports core policy objectives such as economic growth and social well-being, and provides a unique opportunity to revitalise the rural economy, increase regional autonomy and create jobs in Japan.
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This study evaluates the total cost of ownership (TCO) of fuel cell electric trucks (FCETs), focusing on long-haul tractor-trailers, the highest-emitting HDV segment in the EU. The geographic scope of this study includes seven European countries—France, the United Kingdom, Germany, Italy, Spain, the Netherlands, and Poland—representing more than 75% of HDV registrations in the EU in 2020.
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Wind power is expected to be a main driver of non-hydro renewables growth in the Latin American region over the next decade. The segment is forecast to add 34.7GW of capacity by 2031, growing at an average annual rate of 7.1% over the 10-year forecast period. However, the added capacity is expected to be nearly entirely from onshore projects as we expect only 850MW of offshore capacity to come online during the forecast period.
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The EU is confronted with the effects of a severe mismatch between energy demand and supply, due largely to the continued weaponisation by Russia of its energy resources. To ease the increased pressure this puts on European households and businesses, the European Commission is now taking a next step in tackling this issue by proposing exceptional electricity demand reduction measures, which will help reduce the cost of electricity for consumers, and measures to redistribute the energy sector’s surplus revenues to final customers.
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The Ten-Year Energy Expansion Plan (PDE) is an annual informative document elaborated by the EPE under the guidelines and support of the staff of the Secretariat of Energy Planning and Development (SPE) and the Secretariat of Petroleum, Natural Gas and Biofuel (SPG), both at Ministry of Mines and Energy (MME), Brazil.
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This paper “Climate Finance for Just Transitions: Building Low-Carbon Development Pathways in an Age of US-China Rivalry” by the Nicholas Institute for Energy, Environment & Sustainability investigates challenges throughout the international climate finance landscape and recommends pathways for how investments into low- and middle-income countries (LMICs) can more effectively drive low-carbon development.
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Indonesia, a member of the IEA family since 2015, has committed to reach net zero emissions by 2060 or before – an ambitious task given the country’s growth objectives and status as a globally important consumer and producer of coal. To assist in this critical task, the IEA – at the request of the Government of Indonesia and to coincide with Indonesia’s Presidency of the G20 – has developed a comprehensive roadmap to net zero by 2060 for the country.
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Beam Suntory, a global manufacturer of premium spirits, has announced its plans to invest over $400 million to expand production at its Booker Noe distillery in Boston, KY, which produces the company’s flagship product, Jim Beam. The expansion is expected to increase capacity by 50 per cent and will be based on energy supplied through the use of anaerobic digestors that will produce renewable natural gas to power the facility.
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Husk Power Systems is all set to electrify 80 additional communities in India with $6 million in new debt financing that it has received from the EU- funded Electrification Financing Initiative (EDFI ElectriFI). The project is estimated to benefit 60,000 people and create a network of 10,000 new customers, primarily micro, small and medium-sized enterprises (MSMEs).
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To fight the ongoing drought — and to simultaneously produce renewable energy — the California Department of Water Resources (DWR) is investing several million dollars in building solar panels atop water supply canals. This will not only produce clean, renewable energy for the state, but it will also improve water conservation efforts.
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When taking office in late 2021, the German government announced plans to pass sweeping energy sector reforms in 2022. The energy crisis that erupted after the Russian invasion of Ukraine accelerated this legislation process further and necessitated additional efforts to safeguard supply security and cutting dependence on natural gas from Russia. This article summarises the ongoing rapid changes and dynamics of Germany’s energy sector.
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