Plus: California mandates doubling of clean energy; Total invests in floating wind
Hi everyone,
I hope this email finds you well. It’s a simple hope, but a sincere one in this time of COVID-19.
I know our attention spans are short, so I’ll keep this brief. Make time to read the first post by Micheal Liebreich, founder of Bloomberg New Energy Finance. The rest is there in case you find something else of interest.
Watch for the next update on April 12. Continue to forward on to others you think would be interested and encourage them to subscribe.
Thanks and stay healthy!
Peter
Liebreich: Covid-19 – The Low-Carbon Crisis | BNEF
Excerpt: Michael Liebreich, senior contributor for BloombergNEF, discusses the wide-ranging implications of the coronavirus crisis for the energy transition and global emissions.
California Sets Goal to Double Clean Energy by 2030 | Reuters
Excerpt: California electricity providers will need to develop nearly 25 gigawatts of renewable energy and battery storage to achieve the goal, nearly double the amount the state has currently, CPUC Commissioner Liane Randolph said in a statement. The agency anticipates 8,900 MW of energy storage will be included in that total, or about eight times more than existed in the entire United States at the end of 2018.
In oil markets, it’s back to 1998 crisis pricing | Reuters
Comment: Within a year of moving Calgary I witnessed many colleagues getting laid off as a result of the noted crude price drop at the time. This article provides a good overview of what is going on with oil markets.
To give a better sense of the price drop and potential impact on Alberta’s oil sands: Canadian heavy oil cheaper than a pint of beer as North American demand for fuel plummets.
The question on the minds of many is will these low prices result in increases in demand, by making it more affordable to run gas guzzlers vehicles. See the first post for Liebreich’s take.
U.S. wind, solar industries plead for tax credit ‘tweaks’ to keep projects alive during virus outbreak | Reuters
Comment: The first aid package issued by the US government omitted support for renewables, a sector also expected to be hard hit by COVID-19. The US solar industry is expected to be hit hard.
Total Becomes Latest Oil Major to Enter Floating Wind Market | Greentech Media
Excerpt: Total this week bought an 80 percent share of the 96-megawatt Erebus floating wind project in the Celtic Sea from developer Simply Blue Energy. Then on Friday, the company confirmed its Total Quadran subsidiary had acquired developer Global Wind Power (GWP) France from its Danish parent, adding a 1-gigawatt portfolio of wind projects in France. Fellow European oil majors Shell and BP have built-up gigawatt-scale renewables portfolios, but the pace of Total’s recent activity could see it outshine them both. Total has 3 gigawatts of renewables within its 7-gigawatt portfolio of low-carbon projects. By 2040, the company aims to derive 15 to 20 percent of its revenue from its low-carbon business.
A coronavirus first? Check out this e-bike share’s self-cleaning handlebars | Electrek
Comment: While this could be an interesting innovation, I expect use of shared scooters and bikes to plummet during COVID-19. Time will tell.
Other headlines of interest…
Energy Storage
- Avalon and RedT Finally Ready to Merge in Rare Flow Battery Confluence | Greentech Media
- Nevada becomes sixth US state to adopt energy storage target | Energy Storage News
- New York State announces nearly 1.3GW of low-cost new renewables, storage | RenewEconomy
Hydrogen
- Mining giants BHP, Anglo and Fortescue join forces for “green hydrogen” | RenewEconomy
- Road Map to a US Hydrogen Economy | Fuel Cell and Hydrogen Energy Association
Solar (& Battery)
- The US Built 13.3GW of Solar Last Year as the Residential Market Regained Its Stride | Greentech Media
- Tesla achieves solar roof production of 1,000 per week, but can they install them? | Electrek
Wind (& Battery)
- France oil giant Total enters floating offshore wind sector with UK acquisition | RenewEconomy
Transport
- How China bent over backward to help Tesla when virus hit | BNN Bloomberg
- Nissan to offer electric versions of all models from mid-2020 | The Driven
- UN tightens carbon offsetting rules for aviation sector | edie
Transition
- California Sets Goal to Double Clean Energy by 2030 | Reuters
- Large online retailers produce less emissions, report says | BNN Bloomberg
- Shareholders hit roadblocks on climate issues | S&P Global
Circular Economy
- The Infinitely Recyclable Ball Aluminum Cup | Ball