Rio Tinto Chairman Simon Thompson is urging governments across the world to take “urgent” action on climate change despite the twin evils of Covid-19 and economic recession. The call comes amid criticism that Rio Tinto’s own emission reductions schemes are too weak.
A report by Norwegian energy consultant DNV GL has considered the opportunity for long-term energy storage to play a role in balancing annual supply and demand fluctuations in a renewables-led grid. Using 58 years of Dutch weather and energy consumption data, the study found long-term solutions such as green hydrogen could make a valuable contribution – but perhaps not as much as some analysts believe.
The project will operate at a profit in part thanks to an emissions scheme introduced by the province of Alberta on January 1. The plant will be able to sell its carbon certificates.
As Germany shuttered another of its nuclear power plants on New Year’s Day, the office of Indian prime minister Narendra Modi was said to be considering a proposal which would make coal more competitive with renewables in one of the world’s worst polluting nations.
Analyst WoodMac has spelled out the urgent need to decarbonize the global hydrogen production industry. While the fuel can offer a sustainable grid balancing act for intermittent renewables, in its current fossil-fuel driven form it is pumping out more than 800 megatons of carbon into the atmosphere every year.
While the solar industry will welcome the move, the feed-in tariff paid to small systems is still reducing thanks to the volume of new capacity installed every quarter. Announcing a wide-ranging policy package on Friday, Angela Merkel admitted Germany will miss the carbon emission target set for next year.
The first debate, featuring the two front-runners for the Democratic nomination, showed clear and growing divisions within the Democratic Party on climate policy as much as everything else.
Pope Francis held a closed door meeting at the Academy of Sciences with the CEOs of oil firms and investment firms to address climate change, with a group committing to support an “economically meaningful” carbon price.
The nation appears ready to join the ranks of global solar protectionists but any fears about its energy transition may be dampened by the introduction of one of the world’s first true carbon levies – provided emitters are not afforded too many loopholes.
The New Climate Economy and OVO Energy, together with the Imperial College London, have published two independent reports pointing at the tremendous financial advantages resulting from clean tech transitions. Carbon pricing schemes could reap global sales of around US$2.8 billion, they say. Wide-spread use of storage, V2G, and electric heating could further save U.K. homes around $258 per year.
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