Plus: Airlines commit to net zero; GM’s Ultium battery improved; Honda’s small EV; EU pushed to reduce emissions further
Hi Everyone,
It’s been 3 weeks since my last update, so you’ll see a healthy range of stories. If you only have time to read a little, start with my comments then scan the rest of the headlines. Dive deeper at your leisure.
New subscribers have come to a near stand-still. Please consider forwarding on to others you think would be interested and encourage them to subscribe. If you have comments, I welcome them!
Thanks and watch for the next update in two weeks,
Peter
Observations, Comments & Questions
- BP was all over my news feeds after releasing their 2020 Energy Outlook and it’s CEO declaring a strategic pivot from an ‘Integrated Oil Company’ to an ‘Integrated Energy Company’. The Energy Outlook contains a range of future scenarios out to 2050. These are not predictions. Rather, they help to understand the range of possible futures. Indeed the stories I post here offer signposts that indicate the speed and direction of any changes to the path we are on. One particular highlight picked up by media is the view that oil demand may have already peaked, due to the pandemic and other factors. The Outlook is available for viewing or download here, though consider at least reading the 11 key messages, with the last being that the world is on an unsustainable path.
- Green hydrogen is made by using electricity from renewable energy technologies to electrolyse water (H2O), separating the hydrogen atom within it from its molecular twin oxygen. This next development is hard to judge if it can be scaled up and profitable, so just a caution there. That said, if it does really work commercially, it would be an impressive breakthrough. Australian researchers have found a way to combine solar PV and water harvested from the air to produce low-cost green hydrogen, and are gearing up to put the zero-emissions fuel to the test in cars on Sydney roads. Green hydrogen breakthrough uses energy from the sun, water from the air
- Nikola, a company aiming to make hydrogen fuel cell electric trucks was in the news after General Motors announced it would invest $2B to take an 11% stake in the new company. Immediately following, it was accused of making false claims, including showing a truck that was not actually operational, which it rebutted. For its part GM said it did it’s due diligence. Telsa ran into the same trouble in the past. Time will tell. Investors beware.
Technology
Energy Storage
Tesla launches phase 3 of its virtual power plant, soon 4,000 homes with Powerwalls will be connected | Electrek
A virtual power plant consists of connecting several small distributed energy assets, like residential solar panel systems and home battery packs, and using them together to provide larger grid services.
As Residential Solar Deployments Fell, the US Home Battery Market Powered On | Greentech Media
Even as the coronavirus pandemic sent the U.S. economy into free fall this spring, the energy storage industry delivered its second-best quarter ever in terms of megawatts installed.
GM unveils its wireless battery management tech, will power next-gen EVs with Ultium batteries | Electrek
GM is unveiling today its new wireless battery management technology that will power its third-generation electric vehicles equipped with Ultium batteries.
[Australia] Big battery costs have reached a tipping point – and gas is struggling to compete | RenewEconomy
Batteries are usurping the role of gas in the power system. Grid scale battery usage is increasing rapidly, and battery cost deflation is faster than wind or solar.
Solid-state battery company Quantumscape to list on NYSE; $3.3B valuation | Green Car Congress
QuantumScape Corporation, a developer of next generation solid-state lithium-metal batteries for use in electric vehicles, and Kensington Capital Acquisition Corp., a special purpose acquisition company (SPAC), announced a definitive agreement for a business combination that would result in QuantumScape becoming a publicly listed company.
A Battery Giant Is Born: Total and Groupe PSA Launch New European Manufacturer | Greentech Media
Oil major Total and carmaker Groupe PSA have taken the next step in their lithium-ion battery manufacturing collaboration with the launch of a new joint venture company and the first management appointments.
Solar and Wind
How Google plans to use clean energy all day, every day | GreenBiz
Google set one of the most ambitious corporate clean energy commitments two years ago: powering all of its operations with renewables, 24/7. This week, the tech giant finally released its strategy detailing how it plans to achieve this ambitious goal by 2030.
Macquarie and Total to partner on world’s biggest floating wind projects in Korea | RenewEconomy
French oil and gas supermajor Total will partner with Australian banking giant Macquarie’s Green Investment Group in a 50/50 partnership to develop a portfolio of five large floating offshore wind projects in South Korea with a combined capacity of more than 2GW, the largest in the word.
World Added More Solar, Wind Than Anything Else Last Year | Financial Post
For the first time ever, solar and wind made up the majority of the world’s new power generation — marking a seismic shift in how nations get their electricity.
BP Joins Up With Equinor For $1.1B Offshore Wind Partnership | Yahoo Finance
BP PLC and Equinor today announced a strategic partnership to develop offshore wind projects in the US. As part of the deal, the UK oil and gas giant will buy a 50% interest in two of Equinor’s US wind assets – the Empire Wind and Beacon – for $1.1 billion
N.J. Betting Big on Orsted as Offshore Wind Poised to Boom | BNN Bloomberg
New Jersey awarded a contract to Denmark-based Orsted A/S to provide power from a wind farm it’s planning in the Atlantic Ocean as Northeast states push to jump-start an industry that’s languished in the U.S.
From cottage industry to $7bn powerhouse: How Australian solar grew 100-fold in a decade | RenewEconomy
Falling technology prices and high electricity costs helped Australia’s solar industry rise to new records in 2019, according to new analysis, capping off a decade which saw Australian solar capacity grow by almost 100-fold in just ten years.
“First of its kind” solar panel upcycling plant on cards after federal grant win | RenewEconomy
A Melbourne-based company has won a federal government grant to set up a first of its kind solar panel upcycling plant, to transform potentially hazardous solar panel waste into value-added materials.
Electric Vehicles
CN adding 50 Lion Electric tandem tractor trucks to its urban intermodal fleets | Electric Autonomy
Lion’s deal with Canadian National is the largest contract in the growing Quebec-based heavy-duty ZEV manufacturer’s history.
Honda goes small with first mass-produced all-electric car | Reuters
As many automakers bet on sedans and SUVs in the switch to electric vehicles (EV), Japan’s Honda Motor Co Ltd has decided smaller is better for its first-ever mass-produced all-battery car.
Ford to build electric F-150 at Michigan plant, add 300 jobs | The Globe and Mail
Ford says the new electric truck will go on sale in mid-2022. The company says it’s investing $700 million in its Rouge factory complex to make the new trucks. Ford also plans a plug-in gas-electric hybrid version.
“Wolf in sheep’s clothing”: What’s wrong with plug-in hybrid electric vehicles | The Driven
Plug-in hybrid vehicles (PHEVs) are touted as a transition drivetrain that can help drivers take that first step towards a zero emissions transport future. But according to Greenpeace, they are “the car industry’s wolf in sheep’s clothing”.
TTC becomes largest battery electric bus fleet in North America with rollout of third e-bus model | Electric Autonomy
The City of Toronto’s e-bus fleet now totals 60 vehicles, with models from BYD, Proterra and New Flyer, allowing head-to-head performance comparisons that will inform future purchases.
Policy
‘We can do it!’: EU chief announces 55% emissions reduction target for 2030 | Edie
European Commission President Ursula von der Leyen has confirmed plans to target a 55% cut in greenhouse gas emissions by 2030 as part of a broader European Green Deal programme aimed at reaching “climate neutrality” by mid-century.
Business and investor giants urge EU to raise 2030 emissions target | Edie
More than 150 businesses and a group of investors with €33trn in assets under management have today (15 September) called on the European Union (EU) to back the ambitions set out in its Green Deal by committing to reduce greenhouse gas emissions by at least 55% by 2030.
Scotland sets out £100 million Green Jobs Fund to helps support recovery | Current News
First Minister of Scotland Nicola Sturgeon set out the country’s Programme for 2020-21 this week, including the announcement of £100 million for a Green Jobs Fund.
This country is now giving interest-free government loans for used EVs | Electrek
Scotland’s government will extend the Low Carbon Transport Loan to cover used EVs for the first time, starting on September 28. The extension will now enable an individual or business to obtain a loan of up to £20,000, interest free, over five years.
Vattenfall Ready to Close Largest German Coal Plant [after only 5 years] | PowerMag
A German plan to provide coal-fired power plant operators with money to offset financial losses, part of the country’s plan to incentivize the closure of coal plants as part of Germany’s plan to exit the fuel, has led energy giant Vattenfall to say it could close its 1.6-GW Moorburg coal plant in Hamburg by the middle of next year.
Australia plans $1.4bn in low emission energy projects | Argus Media
The Australian government today unveiled an A$1.9bn ($1.38bn) plan for low emissions energy technology, with the funding largely channelled through state agencies the Clean Energy Finance Corporation (CEFC) and the Australia Renewable Energy Agency (Arena), which will be required to broaden its spending to projects such as carbon capture and storage for the oil and gas sector.
Consumers
Banking and finance giants issue support for circular economy investment | Edie
More than 30 chief executives from some of the world’s largest banks and asset managers, including BlackRock, Barclays, Lloyds, ING and the European Investment Bank, have backed new research from the Ellen MacArthur Foundation (EMF) highlighting how green finance can spur the circular economy.
13 major airlines commit to joint 2050 net-zero vision | Edie
Orchestrated by global aviation alliance oneworld, the commitment will see the airlines invest in more fuel-efficient aircraft, sustainable aviation fuels (SAF) and carbon offsetting to bring their net emissions footprint to zero by mid-century. Emissions from waste as well as from energy use will be accounted for, compelling oneworld members to distribute fewer single-use items and improve recycling and reuse processes.
‘It’s Not My Money’: CEO Fink Explains Why BlackRock Still Invests in Fossil Fuels | ThinkAdvisor
Don’t expect BlackRock, the world’s largest asset manager led by a CEO renowned for his warnings about climate change and a short-term investing approach to divest itself of fossil fuel stocks, gunmakers or private prison companies.
Uber commits to 100% EVs. Will it work? | E&E News
Uber Technologies Inc. yesterday pledged to use only electric vehicles by 2030 in the United States, Canada and Europe, and by 2040 in the rest of the world.