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Climatech Corp and Inovues win the inaugural CapitaLand Sustainability X Challenge

Climatech Corp and Inovues win the inaugural CapitaLand Sustainability X Challenge

Climatech Corp and Inovues are the winners of the inaugural CapitaLand Sustainability X Challenge (CSXC) 2021, a global hunt for sustainability innovations in the built environment.  

Both winners will receive S$50,000 (US$38,000) each to fund, test and implement their innovations at selected CapitaLand properties worldwide, as well as mentorship by a CapitaLand business leader. 

Climatech won the Most Innovative Award for their water treatment process to treat cooling water without the use of chemicals or power, while Inovues won the High Impact Award for their insulating glass retrofit technology.  

Climatech’s solution, known as the ClimaControl Quantum Resonance Water, is a novel solution that allows cooling water to be recycled for other uses in buildings, such as plant irrigation or toilet flushing. Based in Singapore, the company’s solution uses photon vibration frequency technology to treat cooling tower, achieving 60 to over 90 per cent of water savings, and one to over five per cent of energy savings.

From the United States, Inovues’ insulating glass technology reduces energy consumption to heat or cool buildings by up to 40 per cent without compromising on the luminosity indoors. The smart glass technology can be retrofitted on to existing windows, and reduces noise and heat gain inside a building by up to 10 times. Windows are the Achilles’ heel of the built environment, said one of the judges, Rushad Nanavatty, managing director or urban transformation at RMI.

 

The two winners will also have the chance to showcase their innovations to senior global business leaders, investors and policymakers at the annual Ecosperity Week sustainability event organised by Temasek. 

“Research and innovation leading to commercialisation is a space where public and private sectors must collaborate. Research can be long-dated and involves high risk. Governments must support and fund it. Innovation and commercialisation of products of research require entrepreneurial acumen and nimble responses. This is where many enterprises have strengths,” said Minister for Sustainability and the Environment of Singapore, Grace Fu, who was the guest-of-honour at the grand finale.

 

Lee Chee Koon, CapitaLand’s group chief executive officer announces the CapitaLand Innovation Fund at the CapitaLand Sustainability X Challenge grand finale. Image: CapitaLand

 

The themes for the inaugural challenge were low carbon transition, water conservation and resilience, waste management and circular economy, and healthy and safe buildings. 

The winning solutions emerged from a shortlist that included a portable, self-powered energy generator cum chiller, a thermal insulation curtain wall, a smart waste bin which uses artificial intelligence to sort waste, and an indoor air disinfection solution. All six finalists and selected participants will have a chance to pilot their innovations at selected CapitaLand properties worldwide.

At the grand finale, CapitaLand also announced a S$50 million innovation fund to support the test-bedding of sustainability and other high-tech innovations in the built environment. 

Lee Chee Koon, CapitaLand’s group chief executive officer said: “The inaugural CapitaLand Sustainability X Challenge has allowed us to uncover promising innovations that we can potentially implement at our properties across the globe, and help us achieve our ambitious targets set out in our 2030 Sustainability Master Plan.”

 


 

By Sonia Sambhi

Source Eco Business

Why it’s the end of the road for petrol stations

Why it’s the end of the road for petrol stations

The big worry for most people thinking about buying an electric car is how to charge the thing.

But the real question you should be asking is how you’re going to refuel your petrol or diesel vehicle if you don’t go electric.

That’s because electric cars are going to send the petrol station business into a death spiral over the next two decades, making electric vehicles the default option for all car owners.

Why? Because charging electric vehicles is going to become much more straightforward than refuelling petrol and diesel cars.

This isn’t just because the government has banned the sale of new petrol and diesel cars from 2030.

Imagine we were going the other way, replacing electric cars with fossil fuel power.

You are writing the risk assessment for a new petrol station. You want to dig a big hole in the ground in the middle of town, put in some tanks and fill them up with an enormous amount of highly flammable fuel.

Then you’re proposing to attach a really powerful pump and invite in random members of the public.

They’ll arrive in vehicles with hot engines. You’ll hand them the really powerful pump that sprays the highly flammable liquid.

 

As petrol is hazardous, refilling has to be done at petrol stations GETTY IMAGES

 

Without any supervision they’ll use it to transfer large quantities of the highly flammable liquid into their hot vehicle, they’ll pay you and drive off.

Are you OK to sign off on that? Do you think Health and Safety will give it the green light?

My point is that fuelling cars with petrol and diesel is dangerous, which is why we do it at specially-designed centralised refuelling points.

 

Ubiquitous power

Electricity, by contrast, is pretty much everywhere already. Where’s your car now? Do you think it might be near an electricity cable? Exactly.

The only challenge is how to bring that electricity a few feet to the surface so you can start getting it into your battery.

And you don’t need to be Thomas Edison to work that out.

 

The goal for the electric car industry is to have recharging anywhere you can park GETTY IMAGES

 

If you live in a flat or a house without a drive, don’t worry. The aim is to have an electric vehicle (EV) charging point at virtually every parking place.

Erik Fairbairn’s electric vehicle recharging company, Pod Point, wants to be part of this effort to rewire the UK.

“You’ll get to a point where you barely ever think about energy flowing into your car again,” he predicts.

Of course, we’re a long way from that utopia, and that should be no surprise.

We’re just at the beginning of the electric revolution: just 7% of new cars are electric and they make up a tiny fraction of vehicles on the road, so there isn’t a huge market.

But, as I argued in my previous piece, change is coming fast and investment in charging infrastructure is coming with it.

There will be good profits to be made when millions of us want to recharge, just as there was a boom in petrol station construction at the dawn of the age of the car a century ago.

 

The first people to get charging technology at home are those with driveways who can run a cable to their electric cars.

They can already install special charging points that recharge car batteries overnight from the power supply to the house, often using the cheapest possible rates.

Typically this is a slow process. For every hour of charging you’ll get 30 miles or so of driving, but who cares when most people leave their cars parked overnight anyway and you are only paying a couple of pence a mile?

Some local authorities have begun to install similar chargers in lampposts, designers are working on charging points that can be built into the kerb and some workplaces are already putting in chargers for their employees.

We’ll be seeing lots more of all of these innovations in the years to come.

We are also starting to see some businesses putting charging points in for their customers.

 

You can expect to see charging points everywhere in years to come GETTY IMAGES

 

In fact, free charging is likely to become like free Wi-Fi, a little bribe to lure you into the shop.

Electric vehicle optimists paint a world where you can plug in anywhere you park – at home while you sleep, as you work, when you are shopping or at the cinema.

Pretty much whatever you are doing, energy will be flowing into your car.

At this point, says Erik Fairbairn, 97% of electric car charging will happen away from petrol pump equivalents.

“Imagine someone came around and filled up your car with petrol every night so you had 300 miles of range every morning,” he says. “How often would you need anything else?”

In this brave new world, you’ll only ever pull over into a service station on really epic, long journeys when you’ll top up your battery for 20-30 minutes while you have a coffee and use the facilities.

 

Death sentence

If this prediction is correct it is a death sentence for many of the 8,380 petrol stations in the UK.

And the decline of the industry could come surprisingly quickly. Think about it. As electric vehicles begin to edge out petrol and diesel there will be less refuelling business to go around. Those service stations on the edge of viability will begin to go to the wall.

That’ll make it that little bit harder for petrol and diesel drivers to find a service station to fill up in and the remaining operators may also feel the need to up their prices to maintain profits.

So, fewer and quite possibly more expensive petrol stations. Meanwhile, it will be getting easier and easier to charge your electric car. What’s more, as the market scales up, electric vehicles will become cheaper to buy.

You see where this is going: the more petrol stations close, the more likely we all are to go electric. In turn, more petrol stations will be forced to close. And so on.

That’s why I called it a death spiral.

 

As petrol stations become scarce, electric cars will become more attractive GETTY IMAGES

 

And don’t worry about where the electricity to power all these new cars will come from.

The National Grid says it won’t have a problem charging all the electric vehicles that are going to come onto our roads.

In fact, it isn’t expecting much of an increase in demand, just 10% when everyone is driving electric.

That’s because we drive much less than we tend to imagine. The average car journey is just 8.4 miles, according to the Department for Transport.

And, explains Isabelle Haigh, the head of national control for the National Grid, there is already quite a lot of spare capacity built into the system.

“Most charging will not be at time of peak, and peak demand has been reducing over the years so we are very confident there is enough energy to meet demand,” she says.

That’s because the grid is designed to meet the moments of greatest demand – half time in the Cup Final when we all put the kettle on, for example.

The rest of the time some generators sit idle. Electric vehicles will be able to make use of them and, because people typically charge overnight when demand is low, they are unlikely to raise the peak demand at all.

Smart charging systems will also help. They allow your charger to talk to the grid to work out the best time for your car to charge.

The idea is to make sure you get the cheapest power and also help the grid smooth out the peaks and troughs in demand.

Smart charging also helps make maximum use of renewable resources, allowing drivers to cash in on the plentiful and therefore cheap electricity available on a windy day, for instance.

 

Seances and convenience stores

However, the end of the service station should not be a cause for celebration. They are the only retail outlet left in some small towns and villages, and a lifeline for many people.

So, can they find an alternative role? Jack Simpson believes some will be able to.

 

The site of the Hyde Park Book Club was a petrol station for more than 80 years GETTY IMAGES

 

He’s converted an old petrol station in Leeds into a plant shop/bar/music venue/restaurant/art gallery called the Hyde Park Book Club. It has even hosted seances.

“People were popping in for dinner and I was like, Oh I’m really sorry, there’s a séance going on,” explains Jack.

He says the site’s central location, large forecourt and roomy buildings make it a very flexible venue.

“I think it also fits in with this post hipster obsession with 20th Century Western culture,” he says.

Brian Madderson, the chairman of the Petrol Retailers Association (PRA), is more down to earth. The PRA represents 5,500 independent fuel retailers who account for 70% of all forecourts and Mr Madderson says his members have started adapting to the post internal combustion engine world.

Many are already investing in full convenience stores, high-quality take away food and automated car washes to boost their income and, he says, they will continue to enable motorists to fill up their petrol and diesel vehicles for as long as is feasible.

He thinks the transition away from petrol and diesel will take decades. “These vehicles will simply not disappear off the roads overnight. Petrol and diesel stations will be essential in keeping the country mobile beyond 2030,” he says.

Maybe. Yet technological change can be very rapid and very disruptive.

Look what happened to the horse and cart at the turn of the 20th Century.

Some service stations will certainly live on – those on motorways, for example – but many are likely to go the same way as the people Jack Simpson’s guests were trying to reach at their séance – unless they can find new ways to bring in cash.

 


 

By Justin Rowlatt
Chief environment correspondent

Source BBC

Singapore to get an all new eco city, in Tengah

Singapore to get an all new eco city, in Tengah

An all-new eco smart city is now coming up in Singapore. Also known as a forest town, this new place is going to be nature’s true haven. The new city is aimed at improving the health and well-being of residents, paving the way for a better future.

The eco-city is going to be car-free, and its construction is taking place in Tengah, in the West Region. It is going to have five residential districts with 42000 homes, and help to reduce carbon emissions in the city. The forest town, as it is being often referred to used to be a military hub, with brick making factories all around. All that’s going to change when the new smart city is going to be built. In its new avatar, the forest town is going to be an example of good and clean living.

 

 

The car-free smart city is going to have safe zones for pedestrians, and also for cycling. The forest town without cars is going to be free from traffic, and as you can imagine, much of the day-time traffic stress is not going to be there. It is a sure way to develop wellness for the citizens, while keeping sustainability in mind.

 

Source: CNN

 

The five districts of Tengah are going to be Park, Garden, Forest Hill, Plantation, and Brickland. Even though the city is car-free, residents from here will be able to travel in buses in order to go into town. Tengah will also be connected with a water catchment area, and a nature reserve. Surely, it is going to be a one-of-a-kind place where you can breathe easy, and experience wellness like never before.

Of the 42,000 homes being built at Tengah, more than 70% will be made available through the HDB on long-term leases. Prices for two-bedroom apartments currently begin at just 108,000 Singapore dollars ($82,000), with the first apartments set to complete in 2023.

 

Source: Courtesy The Housing & Development Board

 

All residents will have access to an app allowing them to monitor their energy and water usage. (“You empower them to take control of where they can cut down their energy consumption,” Chong said.) Digital displays in each block will meanwhile inform occupants of their collective environmental impact, which could even encourage competition between residential blocks, according to SP Group.

Regardless of whether the use of smart technology can significantly dent greenhouse gas emissions or not, engaging residents with their own consumption could instigate behavioral change, according to Perrine Hamel, an assistant professor at Nanyang Technological University’s Asian School of the Environment. This, she added, is a crucial part of Singapore’s goal of reaching peak emissions by 2030 and reducing them thereafter.

“Thinking about food consumption and thinking about the way people use air conditioning is all part of (achieving climate targets),” she said. “Changing behavior is going to be an integral part of it and, of course, urban design is the first way to affect and change behavior.”

Beyond promoting and protecting biodiversity, conserving nature on the site can lead to further behavioral change, Hamel said.

 


 

Source Times Of India

The global energy landscape is going through major shifts

The global energy landscape is going through major shifts

We publish this long-term energy outlook at the start of 2021, after a year that has brought extraordinary challenges. The COVID-19 pandemic and subsequent economic crisis caused unprecedented disruption in the energy landscape—and the path to recovery remains uncertain.

At the same time, the world’s energy systems are going through rapid transitions that are triggered by simultaneous shifts in technological development, regulations, consumer preferences, and investor sentiments. Our Reference Case sheds light on these developments and provides a synthesis on how energy demand will evolve.

 

In the short term, a return to pre-COVID-19 levels is projected in one to four years

The impacts of COVID-19 have permanently shifted energy-demand curves. Although demand rebounds to 2019 levels in one to four years, it does not return to the previous growth path. Electricity and gas rebound more quickly than oil demand, and coal does not return to pre-COVID-19 demand levels.

Recent work by McKinsey on the effects of the COVID-19 crisis on economic growth introduces a set of scenarios, reflecting varying levels of effectiveness of the public-health response and speed and strength of policy interventions.

From these scenarios, two were selected as most likely outcomes by a group of more than 2,000 executive respondents globally: “Virus Contained; growth returns” and “Muted Recovery.” At the time of this report’s publication
(January 2021), the latest actual numbers show a trajectory that comes closest to “Virus Contained; growth returns.” Consequently, this scenario underlies the projections in our report.

Given the unparalleled size of many economic-recovery packages, the focus of the stimulus measures plays a key role in shaping energy systems in the decades to come.

 

Source: Mckinsey

 

 

Source: Mckinsey

 

 

Source: Mckinsey

 

 

Source: McKinsey

 

 

In the longer term, fundamental shifts already emerging pre-COVID-19 are going to be the key drivers of the energy transition

As economies and energy markets recover from the short-term impact of COVID-19, fundamental shifts in the energy system continue, and the coming decades will likely see a rapid acceleration of the energy transition.

 

 

 

 

 

Power wins and hydrogen changes the landscape . . .

Power consumption doubles by 2050 as energy demand electrifies, wealth increases, and green hydrogen picks up momentum.

 

. . . and low-cost renewables dominate power markets

Renewables become cheaper than existing fossil plants within the next decade. This triggers a sharp uptake in the installed capacity of solar photovoltaics and onshore and offshore wind (5 TW of new solar and wind capacity installed by 2035—which is equivalent to fivefold growth).

 

Peaks in fossil-fuel demand keep coming closer

Projected peaks in demand for hydrocarbons have come forward. Oil demand peaks in 2029 and gas in 2037, whereas coal shows a steady decline.

Yet in the Reference Case fossil fuels continue to play a major role in the energy system by 2050, driven by growth in areas such as chemicals and aviation.

In the Accelerated Transition scenario, demand for fossil fuels continues to decline, particularly oil and coal. Peak oil demand could move forward by five years to the early 2020s, at a level less than 1 MMB/D above 2019 levels.

 

Source: McKinsey

 

After a long period of growth, global liquids demand peaks in the late 2020s, followed by a 10% decline in demand by 2050. This is mainly driven by slowing car-park growth, enhanced engine efficiency in road transport, and increased electrification.

Global coal demand peaked in 2014 and continues to decline by almost 40% from 2019 to 2050. Under increasing regulatory and financial pressure, coal’s role in the power sector diminishes, contributing to the overall decline in demand.

Gas continues to increase its share of global energy demand in the next ten to 15 years—the only fossil fuel to do so—and then peaks in the late 2030s. Even in the Reference Case, gas demand in 2050 is 5% higher than today.

 

Source: McKinsey

 


 

Source McKinsey

Shift to green energy ‘could cost oil states $13 trillion’ by 2040

Shift to green energy ‘could cost oil states $13 trillion’ by 2040

A new report says that oil and gas producing countries face a multi-trillion-dollar hole in their government revenue.

The report from the think-tank Carbon Tracker looks at the financial impact as the world cuts back on fossil fuels.

It says some countries could lose at least 40% of total government revenue.

It estimates the cumulative total revenue loss for all oil-producing countries by 2040 will be $13 trillion (in 2020 dollars).

That is as efforts to contain the rise in global temperatures drive the decarbonisation of energy supplies.

Carbon Tracker describes its report as a wake-up call to oil producing countries and international policymakers. It says they have planned on the basis that demand for oil will increase until 2040.

But the agency warns that demand will have to fall to meet climate targets, and oil prices will be lower than oil producers and the industry currently expect.

The report looks at what would happen to government revenues if the increase in global temperature is limited to 1.65C.

The $13 trillion figure for lost revenue is compared with what it calls “business as usual” expectations of continued growth. It includes countries whose economies are not dominated by oil – such as the UK, the US, India and China.

The main focus of the report, however, is a group for which the loss of oil income will be much more challenging, 40 countries it calls “petrostates”.

 

Saudi Arabia relies of oil for 60% of its revenue GETTY IMAGES

 

The predicted damage to government finances in these nations is stark; an average loss of 46% of oil and gas revenue.

The dependence on oil and gas revenue is very marked for some countries – more than 80% for Iraq and Equatorial Guinea. For another seven including Saudi Arabia the figure is more than 60%.

Some countries face very large losses of total revenue. For seven countries, including Angola and Azerbaijan the predicted loss is at least 40%. For another 12, including Saudi Arabia, Nigeria and Algeria it is in the range of 20% to 40%.

For some in the Middle East and North Africa, the effect is moderated somewhat because their low production costs would give them a more prominent role in global oil and gas supply.

There is also a concern about what the report calls emerging petrostates. What they have to confront is a loss of potential revenue from oilfields where development is planned in the coming years. Ghana, Uganda and Guyana are among the countries facing this risk.

 

‘Diversification’

Some of the countries facing severe losses – from existing or potential oil and gas production – are among the poorest.

The report says diversification – of government revenue and national economies – is an urgent task. That will need to be tailored to the needs of each individual country but there are some steps it suggests will be of widespread use.

These include investing in education and improving the quality of government and the climate for business. Capital that is not invested in oil and gas can instead be used to invest in industries that are more resilient to the energy transition.

The report also says there is a strong case for the rest of the world to support this transition. It says there are moral reasons to do so as many of the countries concerned are so poor.

It would help get better climate outcomes. It could also help address the risk of petrostates becoming less stable. They could see social unrest as spending is cut or underfunded security services struggling to contain existing threats.

 


 

By Andrew Walker
BBC World Service economics correspondent

Source BBC

Why 2021 could be turning point for tackling climate change

Why 2021 could be turning point for tackling climate change

Countries only have only a limited time in which to act if the world is to stave off the worst effects of climate change. Here are five reasons why 2021 could be a crucial year in the fight against global warming.

 

Covid-19 was the big issue of 2020, there is no question about that.

But I’m hoping that, by the end of 2021, the vaccines will have kicked in and we’ll be talking more about climate than the coronavirus.

2021 will certainly be a crunch year for tackling climate change.

Antonio Guterres, the UN Secretary General, told me he thinks it is a “make or break” moment for the issue.

So, in the spirit of New Year’s optimism, here’s why I believe 2021 could confound the doomsters and see a breakthrough in global ambition on climate.

 

1. The crucial climate conference

In November 2021, world leaders will be gathering in Glasgow for the successor to the landmark Paris meeting of 2015.

Paris was important because it was the first time virtually all the nations of the world came together to agree they all needed to help tackle the issue.

The problem was the commitments countries made to cutting carbon emissions back then fell way short of the targets set by the conference.

In Paris, the world agreed to avoid the worst impacts of climate change by trying to limit global temperature increases to 2C above pre-industrial levels by the end of the century. The aim was to keep the rise to 1.5C if at all possible.

 

Source: Getty Images

 

We are way off track. On current plans the world is expected to breach the 1.5C ceiling within 12 years or less and to hit 3C of warming by the end of the century.

Under the terms of the Paris deal, countries promised to come back every five years and raise their carbon-cutting ambitions. That was due to happen in Glasgow in November 2020.

The pandemic put paid to that and the conference was bumped forward to this year.

So, Glasgow 2021 gives us a forum at which those carbon cuts can be ratcheted up.

 

2. Countries are already signing up to deep carbon cuts

And there has already been progress.

The most important announcement on climate change last year came completely out of the blue.

At the UN General Assembly in September, the Chinese President, Xi Jinping, announced that China aimed to go carbon neutral by 2060.

Environmentalists were stunned. Cutting carbon has always been seen as an expensive chore yet here was the most polluting nation on earth – responsible for some 28% of world emissions – making an unconditional commitment to do just that regardless of whether other countries followed its lead.

That was a complete turnaround from past negotiations, when everyone’s fear was that they might end up incurring the cost of decarbonising their own economy, while others did nothing but still enjoyed the climate change fruits of their labour.

 

China is responsible for around 28% of global greenhouse gas emissions Source: Getty Images

 

And China is not alone.

The UK was the first major economy in the world to make a legally binding net zero commitment in June 2019. The European Union followed suit in March 2020.

Since then, Japan and South Korea have joined what the UN estimates is now a total of over 110 countries that have set net zero target for mid-century. Together, they represent more than 65% of global emissions and more than 70% of the world economy, the UN says.

With the election of Joe Biden in the United States, the biggest economy in the world has now re-joined the carbon cutting chorus.

These countries now need to detail how they plan to achieve their lofty new aspirations – that will be a key part of the agenda for Glasgow – but the fact that they are already saying they want to get there is a very significant change.

 

3. Renewables are now the cheapest energy ever

There is a good reason why so many countries are now saying they plan to go net zero: the collapsing cost of renewables is completely changing the calculus of decarbonisation.

In October 2020, the International Energy Agency, an intergovernmental organisation, concluded that the best solar power schemes now offer “the cheapest source of electricity in history”.

Renewables are already often cheaper than fossil fuel power in much of the world when it comes to building new power stations.

 

 

And, if the nations of the world ramp up their investments in wind, solar and batteries in the next few years, prices are likely to fall even further to a point where they are so cheap it will begin to make commercial sense to shut down and replace existing coal and gas power stations.

That is because the cost of renewables follows the logic of all manufacturing – the more you produce, the cheaper it gets. It’s like pushing on an open door – the more you build the cheaper it gets and the cheaper it gets the more you build.

Think what this means: investors won’t need to be bullied by green activists into doing the right thing, they will just follow the money. And governments know that by scaling up renewables in their own economies, they help to accelerate the energy transition globally, by making renewables even cheaper and more competitive everywhere.

 

 

4. Covid changes everything

The coronavirus pandemic has shaken our sense of invulnerability and reminded us that it is possible for our world to be upended in ways we cannot control.

It has also delivered the most significant economic shock since the Great Depression.

In response, governments are stepping forward with stimulus packages designed to reboot their economies.

And the good news is it has rarely – if ever – been cheaper for governments to make these kind of investments. Around the world, interest rates are hovering around zero, or even negative.

 

 

This creates an unprecedented opportunity to – in the now familiar phrase – “build back better”.

The European Union and Joe Biden’s new administration in the US have promised trillions of dollars of green investments to get their economies going and kick-start the process of decarbonisation.

Both are saying they hope other countries will join them – helping drive down the cost of renewables globally. But they are also warning that alongside this carrot, they plan to wield a stick – a tax on imports of countries that emit too much carbon.

The idea is this may help induce carbon-cutting laggards – like Brazil, Russia, Australia and Saudi Arabia – to come onside too.

The bad news is that, according to the UN, developed nations are spending 50% more on sectors linked to fossil fuels than on low-carbon energy.

 

5. Business is going green too

The falling cost of renewable and the growing public pressure for action on climate is also transforming attitudes in business.

There are sound financial reasons for this. Why invest in new oil wells or coal power stations that will become obsolete before they can repay themselves over their 20-30-year life?

Indeed, why carry carbon risk in their portfolios at all?

The logic is already playing out in the markets. This year alone, Tesla’s rocketing share price has made it the world’s most valuable car company.

 

Source: Getty Images

 

Meanwhile, the share price of Exxon – once the world’s most valuable company of any kind – fell so far that it got booted out of the Dow Jones Industrial Average of major US corporations.

At the same time, there is growing momentum behind the movement to get businesses to embed climate risk into their financial decision-making.

The aim is to make it mandatory for businesses and investors to show that their activities and investments are making the necessary steps to transition to a net-zero world.

Seventy central banks are already working to make this happen, and building these requirements into the world’s financial architecture will be a key focus for the Glasgow conference.

It is still all to play for.

So, there is a good reason for hope but it is far from a done deal.

 


 

By Justin Rowlatt
Chief environment correspondent

Source: BBC

Commercial Green Hydrogen Just Got A Step Closer

Commercial Green Hydrogen Just Got A Step Closer

Green hydrogen development advanced further this week after the world’s first pilot project for green hydrogen heating of homes was approved. While proponents of green hydrogen—the low-carbon emission hydrogen made from electrolysis with power from renewables—cheer this world-first trial, the structure of the project’s funding offers a glimpse into what green hydrogen desperately needs to become a feasible solution to emission reductions—solid government support.

Green hydrogen has been the hype of the past year in clean energy technologies. From governments to oil majors, everyone is talking up green hydrogen solutions to cut emissions in sectors where this is more difficult than in electricity production, such as chemicals and ammonia production.

Today, nearly all—or 99.6 percent—of global hydrogen production comes from fossil fuels—coal, oil, or natural gas.

“Although there is a tremendous amount of hype regarding green hydrogen, it barely registers across the full value chain for hydrogen’s uses,” Wood Mackenzie said in a report this year.

The first-ever trial of 100-percent green hydrogen use for home heating and cooking is expected to offer insights into how feasible it could be in replacing natural gas. The trial also shows that for green hydrogen to become mainstream in technologies, not only in media, government support, incentives, co-funding, and collaboration with industry is a must.

This week, the UK and Scottish authorities announced they would fund the world’s first trial of a 100 percent green hydrogen generation, storage, and distribution network to heat 300 homes in Scotland as part of the UK and Scottish ambitions to achieve net-zero emissions within three decades.

The UK’s energy regulator Ofgem on Monday said it was awarding US$24 million (18 million British pounds) to the H100 Fife project in Fife, Scotland, which will see 300 homes heated with and cooking with green hydrogen made from electrolysis from offshore wind power. The project also receives a further investment of US$9.2 million (6.9 million pounds) from the Scottish Government.

“I see this project as a critical step towards understanding our decarbonization options for heat and will deliver a purpose-built end-to-end hydrogen system, so I warmly welcome Ofgem’s investment in the project,” said Scotland’s energy minister Paul Wheelhouse.

Exploring the options for hydrogen production and ways to cut hydrogen costs is one of the key pillars in the UK’s The Ten Point Plan for a Green Industrial Revolution, which the government unveiled last month.

 

Related: A Major Oil Rally Could Be On The Horizon

Political momentum in support of hydrogen has grown over the past year, but governments need to strongly support hydrogen, especially low-carbon hydrogen, in the near term and include it in long-term policies for emissions reduction, the International Energy Agency (IEA) said in its Hydrogen report this year.

“Low-carbon production capacity remained relatively constant and is still off track with the SDS [Sustainable Development Scenario],” the IEA said, noting that “More efforts are needed to: scale up to reduce costs; replace high-carbon with low-carbon hydrogen in current applications; and expand hydrogen use to new applications.”

Companies are working on developing green hydrogen projects. One of the latest announcements came from Italy’s major Eni, which, together with top utility Enel, plans to produce green hydrogen through electrolyzers powered by renewable energy and located near two of the Eni refineries where green hydrogen appears to be the best decarbonization option.

Offshore wind developer Ørsted and fertilizer producer Yara in October said they were developing a project to replace fossil hydrogen with renewable hydrogen in the production of ammonia in the Netherlands.

 

Related: The True Cost Of The Global Energy Transition

“If the required public co-funding is secured and the right regulatory framework is in place, the project could be operational in 2024/2025,” Ørsted said.

Green hydrogen requires a lot of policy support, collaboration, funding, research and development (R&D), and private capital to become an industry.

Green hydrogen costs are set to fall by up to 64 percent by 2040, according to WoodMac research from August.

“Even with a multitude of challenges that await the nascent green hydrogen market, we firmly believe there will be some form of low-carbon hydrogen economy soon,” said Ben Gallagher, Wood Mackenzie Senior Research Analyst.

“Given the degree of explicit policy, corporate and social support that has blossomed in 2020, green hydrogen will successfully scale and realise huge production cost declines,” Gallagher noted.

 


 

By Tsvetana Paraskova

Source Oil Price

The challenge of transition – what will it take to meet green energy commitments?

The challenge of transition – what will it take to meet green energy commitments?

 

 

It will be a grim future for all of us unless we quickly kick our fossil fuel habit.

Tim Rockell of the advisory firm Energy Strat Asia has spent three decades in the energy sector, and he stopped by to give us the front-line view on forming the public/private partnerships that are crucial to switching to green energy.

In the newest Impact Interview, Rockell talks enticing governments to take immediate action, making sustainability appealing to corporate shareholders, making smart infrastructure investments, and much more.

 


 

Source: Tech For Impact

Good Energy to launch home heat pump tariff in UK first

Good Energy to launch home heat pump tariff in UK first

Green energy supplier Good Energy has today announced plans to launch a new flexible tariff for homes that use heat pumps in the autumn, in a move designed to help customers capitalise on the government’s recently-announced £2bn Green Home Grant scheme to support energy efficiency improvements.

Announced by the Chancellor earlier this month as part of a £3bn package of promised green building funding and support, the Green Home Grant scheme is set to allow homeowners to claim up to £10,000 to help upgrade their homes to become more energy efficient, with cost having long been seen as a major barrier to installing energy efficiency upgrades and technologies such as heat pumps.

Good Energy said its new “competitive” tariff, which will be powered by renewable electricity, would help homeowners drive down costs of operating heat pumps, offering cheaper energy rates at specific times of the day to allow them to use their heat pumps cost-effectively.

Juliet Davenport, founder and chief executive of Good Energy, said the new heat pump tariff would help the Green Home Grants scheme “go further” in delivering its aim of weaning the UK’s homes off gas-powered boilers.

“This tariff will be designed to make it as easy and affordable as possible for people to get rid of dirty gas heating their home and start using clean electricity from renewables,” she added.

Meanwhile, pressure is mounting on the government to follow up its £3bn energy efficiency package with further investments that can decarbonise the UK’s housing stock, which is responsible for more than a fifth of the country’s emissions. Earlier this week, the Confederation of British Industry called on the government to ban conventional gas fired boilers by 2025 in order to accelerate uptake of green heating alternatives, such as heat pumps and hydrogen-ready boilers.

 


 

By Cecilia Keating

Source: Business Green

Onshore renewables could boost UK economy by £29bn

Onshore renewables could boost UK economy by £29bn

Investor Thrive Renewables claims removal of local planning barriers could unlock multi-billion pound potential of onshore wind, solar, and hydropower sectors.

Easing planning barriers for onshore renewable energy projects could unlock 45,000 new jobs and pump almost £29bn into the UK economy over the next 15 years, as well as saving money on consumer energy bills, according to a new analysis by Thrive Renewables.

The clean energy investment firm – which manages £93m of renewable energy assets – claims that, based on Committee on Climate Change estimates for achieving net zero emissions by 2050, the UK will need to build 5.5GW of onshore renewable energy capacity every year between now and 2035.

That, it said, would require £4.75bn annual investment – including £2.75bn in onshore wind projects alone – amounting to a £66.5bn investment opportunity over the next 15 years. Unlocking that potential could deliver 45,000 new jobs, provide a £28.9bn economic boost, and save billpayers up to £1.5bn a year by 2035, according to the firm, which operates 15 renewables projects across the UK.

Echoing arguments from across the renewables industry, the report highlighted how onshore renewables were now both quicker to build and cheaper than nuclear projects and gas-fired power generation capacity, with onshore wind now considered to the lowest cost form of new electricity generation available.

Meanwhile, the same two years spent laying only the foundations for Hinkley Point C saw enough renewable power generation capacity installed in the UK to match the total planned generation of the flagship Somerset nuclear power project, the report said.

The analysis also stressed how giving existing onshore solar, wind, and other such projects a new lease of life by upgrading them with the latest, most efficient technologies offered yet another cost-effective means of delivering zero carbon energy.

“Renewables are the obvious choice for the government to take in driving our economic recovery, helping to ‘Build Back Better’ and deliver a net-zero carbon emission society,” said Matthew Clayton, managing director of Thrive Renewables. “We don’t need to reinvent the wheel or – in this case – the wind turbine and solar panel. UK renewables have enormous potential that can be unlocked, fast. We already have what we need: abundant natural resources, proven technology, lowest ever costs and the right skills.”

However, Clayton warned that in order to maximise the opportunities on offer a clear, long-term and investible clean energy policy platform was required in the UK, and that planning barriers to new renewables projects needed to be torn down.

Firstly he said more policy certainty was needed over price stability in Contracts for Difference auctions, distribution network connection planning, and cost structures, as long-term investment decisions remains challenging for developers.

Moreover, Clayton said new onshore wind projects continued to face automatic blocks from many local planning authorities, as too often councils have failed to update their local plans – in some cases for decades – to reflect their myriad climate emergency declarations.

“By providing policy certainty and creating a more positive environment for onshore renewables, the government can unleash huge private sector investment, create thousands of jobs and deliver a greener, cleaner UK for us all,” he said.

There have long been calls for the UK’s national planning policy to be amended to remove barriers to new onshore wind projects, although earlier this year the government did unveil plans to allow onshore renewables projects to compete for in upcoming CfD auction rounds, providing a major new potential route to market for new projects.

Prime Minister Boris Johnson has also touted plans to reduce red tape in order to “build, build, build” as part of his strategy to stimulate the economy in the wake of the recession sparked by the coronavirus crisis.

However, it remains unclear whether the PM’s proposed planning changes could be used to accelerate rollout of renewables and clean technologies, given long-standing opposition to such projects from a vocal minority of the public.

Mewanwhile, some green groups have raised concerns that moves to dilute planning rules could lead to less democratic oversight of local planning decisions and green building standards being compromised.

 


By Michael Holder

Source: Business Green