Categories
Energy

Japan targets to achieve 50 percent of renewable energy by 2050

On Friday, Japan announced a proposal to achieve its target of net-zero greenhouse emissions by the year 2050, which calls for tripling the share of energy production by renewables to a minimum of 50%. The government forecasts that such a “green growth strategy” would have an economic impact of $1.83 trillion in that year. In 14 main areas, like hydrogen as well as offshore wind, the path map lists problems and solutions. In addition,  it advocates for overall zero net pollution from new buildings and home construction by the year 2030 and an end to the sales of new petrol-only cars by the mid of the decade.

The expected transition across the Japanese economy from fossil fuels to electricity is intended to raise electricity demand between 30 percent and 50 percent. This makes it an essential step in the initiative to end the dependency of power utilities on coal-fired power stations and dramatically increase renewables’ use. Decarbonization priority “is not a limitation on development,” Prime Minister Yoshihide Suga informed a news-press conference on Friday. The investment would create a new economic activity to meet the carbon goals, in turn encouraging more investment and generating a virtuous circle, he concluded.

By 2040, the government aims to expand Japan’s now-minimal offshore wind power to as much as 45 gigawatts—exceeding clean energy pioneer Germany. The development plan also sets a goal of consuming hydrogen amounting to 20 million tons in 2050, with 20 percent of Japan’s electricity being produced by thermal power stations that are using clean-burning fuel. It would be essential to get the price of hydrogen that is now often as costly as natural gas downward to competitive levels by rising demand. With other big European economies as the U.K., Germany, Tokyo is playing catch-up as well as Spain, which obtains approximately 40% of its electricity from renewables.

Given such disadvantages as a shortage of available land, the target of 50 percent to 60 percent is often seen as mostly what Japan can feasibly accomplish. Another main focus of the initiative is cars — like low-cost minicars. Japan has been a global leader in traditional gasoline-fueled vehicles for a long period. It will undoubtedly take some time to shift to green technologies.” I cannot see this being accomplished without revolutionary technological innovation,” stated Akio Toyoda, who serves as the chairman of the Japan Car Manufacturers Association as well as president of the Toyota Motor. “But we could potentially lose our global competitiveness without interventions throughout the distribution chain.”

Categories
Energy

Two Charging Electric Vehicle ETFs (Exchange-Traded Funds) Higher

This year, electric vehicle stocks have stayed in the fast lane, speeding more than 100 percent beyond S&P 500 returns as the drive towards more sustainable transport gains momentum. Moreover, tighter fuel emission requirements, improved tax-based subsidies for Electric Vehicle buyers, and the implementation of more charging points for vehicles under a friendly new Biden administration can only speed up the organization’s support.

In October, global electric vehicle sales grew 127 percent from one year ago, their fastest rise in 8 years, as per InsideEVs. Also, the Swiss investment bank UBS forecasts that by 2030 the Electric Vehicle market shares will hit 40 percent. Here, we look more closely at two unique exchange-traded funds (ETFs) that use technical analysis to track this fascinating industry and find potential entry points. The Global X Autonomous & Electric Vehicles ETF (DRIV), introduced in April 2018, intends to offer a similar return to the Solactive Autonomous & Electric Vehicles Index, an index containing global stocks participating in autonomous as well as EV technology growth, production, or support.

Unexpectedly, Tesla, Corporation (TSLA), together with other popular EV manufacturers NIO Limited (NIO) as well as Toyota Motor Corporation (TM), also from the top 10 holdings, controls the top investment weighting around 4.32 percent. On an overall 0.27 percent spread, the fund hands over a respectable dollar amount of about $5 million many days. DRIV has net assets worth $134.8 million since December 21, 2020, yielding a respectable 0.55%, and it has earned 57.45% a year until to date. The shares have soared 11.28 percent over the last month only. DRIV has been trending significantly higher after crashing under $10 per share only at the peak of the disease outbreak selloff.

Active traders will want to prepare for a retracement entrance to about the $20.30 rate after a very steep advance. The market finds a combination of aid from the pre-November 16 difference and the simple moving average of 50 days (SMA). A broader pullback to the $18 region could be sought by more conservative sellers, where the finance could find support around the swing highs of September and October.

The iShares Self-Driving EV and Tech ETF (IDRV) aims to measure the success of the Global Autonomous Driving and Electric Vehicle Index of NYSEA FactSet, which consists of the self-driving Electric Vehicle stocks. Tesla also remains in the investment driver’s seat now, taking up almost 10 percent of the company’s overall assets. Amusingly, two major corporations, Apple Inc. (AAPL) as well as QUALCOMM Incorporated (QCOM), each with ties to autonomous driving EVs, earn allocations of about 4 percent.

Trading wise, reasonable nickel spreads help investors quickly enter as well as exit positions with fairly minimal slippage, combined with a regular daily dollar turnover rate of $2.62 million. IDRV controls assets under the management (AUM) of $92.2 million as of December 21, 2020, has a dividend of 0.88 percent, and is trading 7.75 percent higher over the last month. The ETF has returned 54 percent year-to-date.

Categories
Energy

Renewable energy development relies on the circular battery economy

At an unprecedented pace, the green energy market is increasing. For the first time in 2020, renewables have produced more energy in the United Kingdom. Solar energy is the “least expensive electricity in history.” than fossil fuels, according to the International Energy Agency. But, although the renewable energy market’s potential is expanding, renewables only contribute just 11% of the globe’s primary energy. This is only twice the proportion given by renewables over 50 years earlier. The switch to renewables’ speed needs to be increased, with the United Nations anticipating an overshoot of goals of the Paris Agreement 2030, close to 32 billion metric tons of Carbon dioxide.

Several hurdles have delayed the green energy transformation. For years, economic hurdles have included non-renewable energy incentives, low oil prices, which have reduced investment in renewable energy, and infrastructure construction costs. External obstacles, including civic concerns over improvements to urban environments and disturbances to existing ways of life, have also limited development. International demand and recognition of the detrimental impacts of electricity generated from fossil fuels are catalyzing political policy to decarbonize the energy market. However, these obstacles are enduring. For example, the EU’s European Green Agreement lays out a roadmap for net-zero emissions of greenhouse gases by the year 2050, and China is taking action to reach carbon neutrality by the year 2060. Renewables are attracting new funding, with politicians setting a path for transition.

In October, the Financial Times reported that stocks of hydrogen power equipment maker ITM Power had increased by 220%, while Dutch energy storage firm Alfen leaped by over 230%. In the meantime, in terms of stock market valuation, the Florida-based “clean energy” supplier NextEra Energy has overtaken the global oil and gas firm ExxonMobil, which once held the world’s highest share value.

Some major oil firms are now making investments in renewables. Total has agreed to a big solar plant in Qatar, while ENI SpA has vowed to reduce the emissions by 80% by 2050. Mercuria, a Swiss commodity trader, is now spending $1.5 billion with private equity investors in North American renewable energy ventures. And the decision of BP to write down properties worth about $17.5 billion on the grounds that they were “no longer economical” may be a turning point in the energy sector.

Despite these major strides forward, though, there is a fundamental technological barrier: energy storage. Chief executive of Aceleron, Amrit Chandan,  a lithium-ion battery tech firm, observes: “Renewables are sporadic, implying that they will need the assistance of batteries to preserve clean energy to be used when the sun is not shining as well as the wind is not blowing. Battery technology is vital.”

Categories
Energy

Surprising patterns that impact solar PV technology

The performance of solar PV technology has increased rapidly in recent years due to numerous variables, including technical innovation and cost reductions in materials. Nevertheless, according to Milicent Chidamba, JinkoSolar’s South Africa sales boss, all solar PV projects have something in common: a utility scale or a C&I plant and substantial R&D advances. This common denominator consists of three competing criteria, namely optimal efficiency, lowest cost, and reliable goods, that have to be met. Also, JP de Villiers, Managing Director of Soventix South Africa, emphasized that green energy systems’ status quo is that as little space as possible generates the most energy.

When evaluating current module technology, half-cut PERC cells are the most advanced and popular by far, says De Villiers. He adds: “We are seeing those for high-efficiency modules becoming more and more of the norm.” We’re going to have to look at the development of much larger wafers to enable modules to evolve even more. De Villiers added, but the market reaches the stage where advances and breakthroughs in cell biology are becoming more difficult to accomplish. This phase is currently ongoing. Beyond the package, producers should work. Although the high-efficiency panels cost is higher, they lead to more power per square meter, requiring fewer modules and space with lower BOS costs and less building, he said.

During a technological presentation at the Digital Energy Festival organized by ESI Africa, Chidamba took the crowd on a brief tour of how the product range of the business has developed over the previous 3 months in response to the PV industry’s development. The Tiger Pro Series is based on a 182-millimeter wafer, which is rapidly becoming an industry norm, Chidamba explained.  She figured out that both panels have a 12-year product power guarantee. Simultaneously, the mono face offers a “linear power guarantee of 25 years”, and they offer a 30-year linear power warranty for bifacial.

She accepted that the 78-cell module can achieve an overall power output of 580 watts but that it is only available as a bifacial with a transparent back sheet.” “The key technology we have used in this particular module is the tiling ribbon technology, that removes the cell gap and enables us to reach the optimum power output and also high efficiency for that system in that class,” she said. The product creation of the business aims to combine both of these three competing demands, according to Chidamba. The Pro series saves your device costs in terms of understanding these specifications, especially LCOE. In two dimensions, this is done. The first is the maximization of the power class; Tiger Pro Series modules will cross 540 watts on a 72 cell and 580 watts on a 78 cell,’ Chidamba said.

Categories
Energy

Report on how ready the First Responders are for impromptu EVs Fires?

The passenger electric vehicle sales have registered a huge increase within a short time. For instance, the numbers have changed from 450,000 to 2.1 million between 2015 and 2019. That’s according to Bloomberg’s service in charge of primary research, Bloomberg NEF. Other findings are an increase in alternative fuel vehicles (AFV), including hybrid/electric vehicles. Forecasts show that more than half of passenger vehicles’ total sales will be electric by 2040.

However, there is a drawback: the unpreparedness of fire departments in case of burning lithium-ion batteries that might increase with the increase in EVs. According to a report from the U.S. National Transportation Safety Board, the training and equipment to deal with battery-related fires in many departments leave a lot to be desired.

Lithium-ion batteries existed way before the discovery of Electric Vehicles. They are used in laptops, cell phones, and e-cigarette. In some instances, they have exploded or caught fire, and the EVs are no exception. Such incidents occur if it faces a puncture, damage, or exposure to extreme heat. Some examples are a Tesla Model S in 2013 along a Seattle highway and a Porsche Taycan in February 2020 while in a Florida garage.

Fires are not new, which explains why emergency responders deal with trucks and cars among other highway vehicles that catch fire quite well. However, it is different when it comes to lithium –ion batteries since the variables and risks are not the same as those of similar fires.

For instance, a burning electric vehicle produces up to 100 organic compounds. Some of them are extremely dangerous, including hydrogen cyanide and carbon monoxide. Therefore, there is a need for responders to wear protective gear if they want to stay alive. Other concerns are re-ignition and the fact that typical fire extinguishing mechanisms don’t work when it comes to those fires.

The heat is high enough to produce a temperature of 5000 degrees Fahrenheit, which is way higher than gasoline fuel fire. Using foam or water is not an option because it could lead to flare-ups and electric shock in other cases. Therefore, it is understandable that firefighters, witnesses, passengers, and drivers may not be able to deal with it if it was to happen.

According to NTSB, training firefighters is essential, especially at such a time when electric vehicle fires seem to be increasing. A survey showed that out of 32 U.S. fire departments involved, 31 percent didn’t offer its crew special training. However, with the National Fire Protection Association (NFPA) help, training could be available for alternative fuel vehicles. Consequently, both the first and second responders would be better positioned in case of an outbreak.

Categories
Energy

Africa’s take on renewable energy and its benefits

Rystad Energy research indicates that Africa has the potential to expand from generating 12.6 GW of renewable energy to greater scales. This year the continent reached a notable 16.8 GW in renewable energy and will be topping it with 5.5 GW next year. The continent anticipates realizing the 51.2 GW mark in the next five years. 

This quantity will be coming from the expanded solar and wind projects in Ethiopia, Egypt, Morocco, and Tunisia. Currently, South Africa is leading the entire continent to generate electricity from renewable energy. The country has a total of 6.9 GW coming from wind, solar, and pipeline projects. The other mentioned countries follow with less than 5 GW of renewable energy each.

Four-fifths of the African countries have renewable energy resources ranging from wind to solar energy projects. Developing countries in the continent aim to emulate South Africa and develop similar renewable energy power plants to reach environmental targets. Upcoming countries are learning from the mistakes and the successes of South Africa, Egypt, and Morocco to channel their efforts in the right perspective.

Algeria has revealed that the projects it is developing will enable it to move from a potential of 500 megawatts to start generating 2.9 GW in the next five years. The project leading to this massive energy generation is the Tafouk 1 Solar Project that will span over four years.

Elsewhere, Tunisia will rocket its renewable energy production from 350 megawatts to 4.5 gigawatts in the next five years. The TuNur Mega Project is expected to reach its peak in 2025, thereby helping the country realize its data as projections from the solar plants.

On the other hand, Egypt has been a pioneer in this industry. Currently, the country is operating at 3 GW of installed renewable energy projects. Additionally, it boasts of its 9.2 GW pipeline project, which supports wind energy and looks forward to surpassing South Africa to become the leading producer of green energy in the continent.

Some of the projects that will help Egypt realize its objectives include the Gulf of Suez Red Sea Wind Project, a Siemens Gamesa supported program that will prove its efficiency in generating clean energy.

Morocco comes in with its current capacity of 2.5 GW in renewable energy, with a huge percentage of this coming from the wind energy section. Rystad Energy found out that the Noor Midelt Hybrid projects would generate enough solar energy to realize its half-decade targets.

In conclusion, with the drop in the production costs for renewable energy, countries will definitely adopt renewable energy technology to meet their people’s electricity demands. Nevertheless, Africa has been troubled with economic problems due to political inefficiencies, underdeveloped projects, corruption, and other ethical problems. Rystad hopes that this can change with the ongoing enlightenment of African leaders and citizens.

Categories
Energy

Boris Johnson rolls out a £12 billion program to facilitate the green energy transition

The UK Prime Minister Boris Johnson has decided to implement a £12 billion green energy plan that will create over 200000 employment opportunities and minimize the region’s carbon emissions. Johnson enumerates ten strategies in this plan, which will oversee the generation of 40 gigawatts of offshore wind energy by the end of this decade and create employment opportunities in the sector. The strategies will facilitate the achievement of net-zero emissions by the country in the next three decades.

Boris Johnson enumerates that the industrial heartlands of Humber, North East, and Yorkshire will be the appropriate locations for the implementation of these strategies. Additionally, the Boris Johnson administration announced that it would generate 5 gigawatts of hydrogen energy by the end of this decade to meet the needs of households, factories, and the transportation sector. On top of this, nuclear power plants are undergoing development to support these resources by meeting their demands.

Furthermore, the government is proposing the development of advanced technologies that will ensure London becomes the hub of green energy through innovative programs and financial services. The ten-point plan by Boris Johnson will cover hydrogen energy technology, nuclear power, and carbon capture as its renewables.

Part of the £12 billion will be used to facilitate the shift to electric vehicles in the country and clearing the fossil fuel cars from the roads by the end of this decade. The plan also details investment in energy innovation programs to keep the country in the loop of the trending energy technologies. 

Johnson explained that the cash would flow in three phases also to cover the private energy industry. He added that he would be meeting energy experts and analysts to discuss the implementation of his strategies and how they can integrate the private sector into this plan.

Johnson noted that the North East region would be a hub for wind energy technology. This move implies that turbines will be installed in the region to generate electricity to power households and meet the businesses’ industrial needs herein. He is hopeful that they can minimize the country’s emissions to a workable standard before the next climate summit in Glasgow.

Many renewable energy stakeholders have taken these strategies optimistically and are ready to support the implementation process. However, the solar energy sector is displeased that the ten-point plan appears to exclude them despite their unparalleled contribution to carbon emission reduction in the country.

To sum up, the prime minister explained that they are considering a renewable energy mix and that the solar industry should not take the offensive side. Nevertheless, the strategies will make the UK achieve climatic objectives that they promised to fulfill in the previous climate summit.

Categories
All News Energy

SSE Plan to Triple Renewable Energy by 2030

The National Oceanic and Atmospheric Administration (NOAA) explained that global warming increased global temperatures. Additionally, statistics tabulated a 0.8 degrees Celsius increase in the last 100 years. Conversely, extreme weather calamities like hurricane formation, floods, and wildfires are linked to global warming. Thus, several states were necessitated to institute measures that minimize carbon emission. The measures include taxing diesel and petrol automobiles, minimizing carbon fuel imports and production, and instituting an Emission Trading System for different states. 

On the other hand, many countries have led to embracing renewable energy production by establishing a significant number of wind turbines and installing solar panels. The SSE, a U.K. energy company, stated its plans on tripling its wind energy production by 2030 in support of the shift from fossil fuel to renewables. Consequently, the energy company aims to produce the most considerable wind power by 2026. According to SSE, the company is yet to decide to invest in the Dogger Bank wind facility that is estimated to produce 3.2GW of wind power. The wind farm will supply approximately 4.5 million homes with electricity by 2026. 

As the global shift from fossil fuel to renewable takes root, the company plans to invest £7.5bn in renewable power production. The company’s plan also falls within the government’s vision of building profitable offshore wind farms to generate power that can be supplied to every household in the U.K. The prime minister issued a 10-point climate proposal that seeks to fund renewable companies in the U.K., thus advance in the renewable sector. The SSE CEO, Alistair Phillips, noted that the prime minister’s plan would provide a smooth transition from carbon fuel to renewables, promoting a greener England. 

According to SSE’s report, the company recorded £115m in profit from January to September. Moreover, the profit fell by 26% this year due to the effects of Covid-19 pandemic. However, Philip Davis stated that the company recovery plans are ongoing, and better results are yet to come as the company increases the investment on the wind farm. Additionally, Philip stated that the organization would minimize carbon emissions, stimulate the economy, and minimize the unemployment rate. 

The prime minister stated that the state would invest £12bn in renewables, including private and public sectors. The plan aims at investing in electric vehicles, nuclear power, and carbon capture. Consequently, several renewable sectors pledged to invest in the U.K. power industry like the Equinor, Denmark’s Orsted, and Scottish power. 

Categories
All News Energy

The world is going to experience the most versatile types of renewable energy

In most cases, renewable energy resources are installable far from the places that people live. For instance, wind resources in the United States exist in Texas and Oklahoma’s outskirts and the less populated regions of Central Midwest. Solar resources, on the other hand, can be developed in desert regions with scarce habitations. The U.S. National Renewable Energy Laboratory (NREL) revealed that the establishment of renewable energy facilities to extract electricity would demand more transmission cables to minimize the national grids’ pressure in different regions.

Interests have been growing over the connection of renewable energy resources with populated areas through transmission lines, but the costs have halted further action. The infrastructure development projects require high capital, but they need the energy regulators and landowners to authenticate these projects’ implementation. The latest multibillion project tagged Australia–ASEAN Power Link is the most rigorous that the stakeholders are keenly observing. This project will bring together the biggest solar farm, the mega battery developer, and the most extended undersea electricity connection lines. Sun Cable will be supplying the connection cable in this $16 billion proposal.

The project will be running through 30000 acres of Australia’s Northern Territory and generate over 10 GW of solar energy. This electricity quantity is equal to that which would be evolving from over eight million rooftop PV panels. The battery company will be instrumental in developing the battery storage facility that can host 30 GWh to facilitate the disbursement of renewable energy 24/7. The storage facility will be over 100 times bigger than the Hornsdale Power Reserve that hosts 193.5 MWh worth of electricity. This facility will also exceed the Japan Buzen Substation, which provides 300 MWh of electricity.

The project estimates to utilize over 800 km of power line carrying 3 GW and supplying it all over the Northern Territory of Australia. The undersea lines which will be transmitting the power from there will run about 3700 km with 2.2 GW all the way to Singapore. These transmissions will become more extended than the 720 km high voltage, direct current (HVDC) coming from Norway to Britain, and will be in action come next year.

Hopefully, this mega project will begin the supply of electricity before 2028. The project will develop over 1500 employment opportunities in the initiation phase and an additional 350 jobs when operations take shape. 

Since these projects are growing interest among energy developers, it is crucial to understand the expenses that come with transmitting renewables through long distances. The capacity to transmit electricity from renewables for long distances through areas like the Sahara Desert will help electrify remote areas. In conclusion, although the project is mega and will bring significant advantages, more challenges will come with it. Successfully overcoming these challenges will help in the transmission of electricity to the remote areas and minimize the outbreak of bushfires due to overdependence on the national grid. 

Categories
All News Energy

The United States Find Biogas a Potential Renewable Energy Replacement

Biogas use in the U.S. is getting more popular in households over the last decade. This improvement is linked to the increased adoption of biogas production. Biogas production sites are increasingly becoming rampant in rural areas—their cost-effective processing and ease of production factor in as causes for quick integration in renewable energy prospects. Additionally, biogas plants help reduce environmental pollution and clean up biodegradable wastes from plants and animals.

 These prospects offer the most cost-effective means of energy production, providing alternatives to Electricity generation as well as a possible replacement for carbon-based fuels. The world is continuously shifting from its dependence on non-renewable fuel sources, and this discovery offers an excellent opportunity to integrate biogas as an alternative energy source. 

 Conventional energy sources like crude oil are depleting significantly fast. However, through the introduction of large-scale systems that take advantage of renewable sources of energy, the planet has a chance to recover from the adverse effects of climate change.  The need to develop new sources of renewable energy has necessitated the growth of the biogas markets to be at par with other product categories in the renewable energy market

Biogas has the potential to reduce emissions significantly.  According to estimation, full integration of biogas systems leads to Substantial savings in gas emissions comparable to 11 million passenger vehicles. Likewise, research shows anaerobic digestion of biodegradable waste is essential for the environment and local economies. 

 Additionally, the venture can provide construction jobs for 335000 vacancies temporarily with 23000 permanent jobs.  Likewise, biogas is getting a reputation, and scientists look into its integration in the transportation sector. Last year so the integration of conventional biofuels in the transportation industry that leads to a 4% market stake in renewable energy transportation

Biodegradable energy sources are increasingly gaining popularity worldwide, especially in India, Ireland, and China. These are countries primarily dependent on petroleum sources of energy, shifting to biodegradable energy sources like ethanol and biodiesel. 

Likewise, an increasing number of biogas integration examples take advantage of bio-degradable waste utilization in the United States. The United States currently produces a considerable amount of methane from landfills. The methane is a waste product of anaerobic bacteria digesting organic material from dumpsites. With this in mind, the vast availability provides local authorities a mandate to establish biofuel extraction infrastructure and increase the renewable energy generation capacity.