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Cost-cutting hot water heat pumps and online solar panel design will be available in UK this summer

Cost-cutting hot water heat pumps and online solar panel design will be available in UK this summer

Cost-cutting green home technologies are set to launch in the UK this summer to make it easier and cheaper for homeowners to slash their energy use and carbon footprint.

Demand for green home technologies is surging as households look to invest in new equipment to cut their energy bills and reduce reliance on grid power.

And that has enticed overseas firms to enter the UK market with new products such as high temperature heat pumps and technology that can automatically design solar energy installations online.

 

Norwegian solar marketplace Otovo plans to launch a UK branch this summer, promising customers savings of up to 10 per cent on the cost of rooftop solar installation.

The online marketplace takes a customer’s address and then automatically calculates the size, shape and specification of suitable rooftop solar products. It then runs an automated, ‘real time’ auction between local solar installers to find the cheapest price for the work.

Co-founder Andreas Thorsheim said customers save time and money by having the survey work and quote calculated remotely. Installers also benefit by not having to “drive around drinking tea with people who end up not buying,” he added.

“In essence we are doing the Googling for you, we’re doing the price comparison for you, we’re doing the quality assurance of these workmen for you, and presenting you with the cheapest available price,” he told i.

 

Otovo was founded in Oslo, Norway in 2016 and now operates across seven European countries. A UK outpost will open in July or August this year, Mr Thorsheim said.

Demand for solar has rocketed in recent months as consumers across the UK and Europe hunt for ways to reduce their reliance on expensive grid electricity. Calculations suggest rooftop solar can shave hundreds of pounds off the average annual electricity bill.

Meanwhile high temperature heat pumps, which pump very hot water around the house in the same way as a gas boiler does, are set to arrive in the UK this month.

Usually air source pumps heat water up to a maximum of 50C. Homes therefore usually need to be well insulated with large radiators or underfloor heating to stay warm.

But high temperature pumps heat water to between 65C and 90C – similar to temperatures achieved using a gas boiler. The idea is that these pumps will act as green replacements for gas boilers in leaky homes that are too draughty for a standard lower temperature heat pump.

 

Viessmann Vitocal 151-A air source heat pump indoor and outdoor units (Photo: Viessmann)

 

This month, heat pump manufacture Viessmann will start selling two high temperature heat pumps in the UK. Both heat radiator water to up to 70C. This means that in most cases they can use existing radiators and do not require under-floor heating, Viessmann said, saving households thousands of pounds in avoided retrofit work.

Meanwhile, rival heat pump manufacturer Vattenfall is also developing a high temperature heat pump, using technology adapted from Japanese hot water systems.

“If you are in two identical houses, and in one is a traditional gas boiler and in the other is our high temperature heat pump, you won’t feel the difference,” said Wouter Wolfswinkel, who is leading the heat pump’s development at Vattenfall.

After successful trials in the Netherlands and Germany, Vattenfall plans to start selling this heat pump in the Netherlands starting this month, and i understands the team is keen to bring it to the UK as soon as possible.

Installation costs are around €14,000 (£11,700), Mr Wolfswinkel told i. This is more expensive than a gas boiler and a traditional heat pump but the new system cuts out the need for expensive insulation work on older properties, he stressed.

 


 

Source iNews

Philippines’ BDO Unibank first blue bond gets US$100 million investment from IFC

Philippines’ BDO Unibank first blue bond gets US$100 million investment from IFC

The International Finance Corporation (IFC), the private investment arm of the World Bank Group, is pouring US$100 million into BDO Unibank Inc’s blue bond, which aims to finance projects that will help tackle marine pollution in the Philippines.

The country is considered the third largest global contributor of ocean plastic, with an estimated 0.75 million metric tonnes of mismanaged waste entering the ocean every year, according to a World Bank study published in 2021.

The coastal blue economy is critical to the Philippines but is threatened by pollution, unsustainable fishing, rapid urbanisation, and the impact of climate change such as typhoons that drag tonnes of rubbish into seaside areas.

BDO Unibank Inc’s blue bond, the first of its kind in the country and a first for IFC in the East Asia Pacific region, is slated to raise money for projects such as water conservation, wastewater treatment, plastic recycling, sustainable tourism, fisheries, and sustainable seafood processing, the global development institution said in a statement on Friday.

“A blue bond instrument will be key to the nation’s growth trajectory. By supporting the first blue bond issuance in the country, IFC continues its tradition of supporting the development of capital markets through issuances of thematic bonds and mainstreaming climate finance in the banking sector”, said Jean-Marc Arbogast, IFC country manager for the Philippines.

“Moving forward, a robust blue economy will help create jobs and alleviate poverty while strengthening the marine ecosystem in the Philippines.”

IFC will also help BDO identify projects that can combat water stress with rapid urbanisation, as more than 3 million people in the Philippines rely on unsafe and unsustainable water sources and 7 million lack access to improved sanitation.

 

…A blue bond instrument will be key to the nation’s growth trajectory…a robust blue economy will help create jobs and alleviate poverty…

Jean-Marc Arbogast, country manager for the Philippines, International Finance Corporation

 

The bond will be issued under the International Capital Market Association (ICM’s) Green Bond Principle and IFC’s recently launched Blue Finance Guidelines, a blue-specific framework and metrics that monitor the use of proceeds and report on relevant impact.

“Marking our two-decade partnership, IFC’s investment will be key to helping BDO develop a Blue Finance Framework that will allow us to fund projects that support the country’s blue economy while establishing a new asset class in the Philippine debt market,” said Teresita Sy-Coson, chairperson of BDO Unibank, Inc.

Blue financing is emerging in Asia, with the IFC piloting the mechanism in China, India, Indonesia, and Thailand. Last year, multi-lateral lender Asian Development Bank issued its first ever dual-tranche blue bonds denominated in Australian and New Zealand dollars that will finance ocean-related projects in Asia and the Pacific.

The “blue economy”, which includes livelihoods and other economic benefits derived from oceans, is expected to reach US$3 trillion and employ 40 million people by 2030, giving it critical role in pivoting the global economic system towards regenerating ocean health, said the World Bank.

 


 

Source Eco Business

Victoria’s solar rebate expansion will help wean state off gas, say experts

Victoria’s solar rebate expansion will help wean state off gas, say experts

Energy experts say the Victorian government’s expanded solar rebates scheme will help drive the state’s transition away from gas as it aims to halve its emissions by the end of the decade.

Victorian households will be able to access rebates for both solar panels and a solar hot water system under the widening of the program announced on Tuesday. Households can now only take part in the solar panels program or the hot water rebate, but not both.

Meanwhile, an additional 50,000 businesses across the state will become eligible for solar panel rebates and an interest-free loan to slash up-front installation costs.

When the household changes come into effect in mid-May, almost 190,000 Victorians who previously accessed a $1,400 rebate to install solar panels will be able to access an additional 50% rebate – of up to $1,000 – to have solar hot water or a high-efficiency electric heat pump system installed.

When the 10-year scheme was announced, the government said the policy aimed to cut the state’s carbon emissions by almost 4m tonnes and would result in household solar generating 12.5% of the state’s 40% target for renewable energy by 2025.

Alison Reeve, the deputy program director for energy and climate change at the Grattan Institute, said a large part of the state’s transition to a low-emissions future required a phasing out of its reliance on gas.

“Switching people from gas water heating to solar heating is a positive step on that journey,” she told Guardian Australia.

“In Victoria you’ve got a lot of houses with gas heaters installed and it takes time for that change to kick through.”

The discovery of natural gas in the 1960s in Bass Strait has caused it to become the state’s dominant residential fuel source, particularly for heating homes in winter.

The department of industry and science’s latest energy statistics, released last year, show Victoria’s gas use from the residential sector is 14.8% – almost double the nationwide figure of 7.9%.

When the solar homes scheme launched in 2018, the Andrews government estimated a solar hot water system could save a household up to $400 each year.

 


 

Source The Guardian

Greece doubles 2030 energy storage target to 3GW

Greece doubles 2030 energy storage target to 3GW

Greece has doubled its 2030 target for energy storage deployment to 3GW as it aims for a renewable electricity generation proportion of 70%.

The country’s Minister of the Environment and Energy Kostas Skrekas announced the plans at a meeting with US politicians on Tuesday last week (19 April), according to the Ministry’s official website.

The target for ‘electricity storage’ is double the 1.5GW outlined in an existing national plan, reports Insider.gr, and will accompany a renewable energy capacity of over 20GW by the 2030 deadline according to the Ministry.

Also discussed at the meeting were near-term plans to increase Greece’s energy security through increased local natural gas production, the Greece-Bulgaria (IGB) gas pipeline and new interconnections with Egypt, Cyprus and Israel.

 

Greek minister Kostas Skrekas meeting with members of the US Congress and House of Representatives last week. Image: YPEN.

 

Skrekas said that Russia’s illegal invasion of Ukraine would accelerate the green transition, as Europe seeks to wean itself off its fossil fuels, as would the falling price of renewable energy.

Insider reported that Greece already has a renewable energy capacity of 10.1GW at the end of 2020, so the 2030 target amounts to a doubling of that figure.

The storage projects will be supported by money from the post-Covid National Recovery and Resilience Plan, majority funded by the European Union, totalling €450 million (US$480 million) of which €200 million will be for battery-based projects.

In August last year, consultancy Clean Horizon’s head of market analysis Corentin Baschet told Energy-storage.news shortly that the €200 million would fund a 700MW tender for energy storage announced in June. He said Greece had all the drivers to become an important European market for lithium-ion-based energy storage in the coming years.

That tender may now have increased in size, with Insider reporting that regulatory steps and discussions with the EU have taken place and a tender totalling 800-900MW of storage could launch this coming September.

 


 

Source Energy Storage News