Singapore to Introduce Carbon Tax to Curb Emissions

21.02.2017

Singapore is set to introduce South East Asia’s first carbon tax in 2019 under plans revealed by Finance Minister Heng Swee Keat yesterday.

The scheme, which would see more than 30 of the nation’s largest polluters forced to pay tax on their emissions, would initially price a tonne of greenhouse gas emissions at between S$10 (US$7) and S$20 (US$14).

Although the Singapore government admitted the initiative would likely push up energy prices by between two and four per cent, Swee Keat said the tax is the fairest and most efficient way to bring down emissions.

“The most economically efficient and fair way to reduce greenhouse gas emissions is to set a carbon tax, so that emitters will take the necessary actions,” he said during his 2017 budget speech. “Singapore is vulnerable to rises in sea level due to climate change. Together with the international community, we have to play our part to protect our living environment.

Under the Paris Agreement, Singapore has promised to reduce its emissions intensity by 36 per cent by 2030, against 2005 levels, and peak overall emissions by around 2030.

The tax would be imposed on carbon dioxide emissions alongside five other greenhouse gases including methane and hydrofluorocarbons. Revenues will be used to help fund industry emission reduction measures.

An industry consultation has already been launched on the proposal, which Swee Keat said has the potential to “spur the creation of new opportunities in green growth industries such as clean energy”. A final decision is expected in the coming months.

The move comes as China is preparing to launch what is expected to be the world’s largest carbon market. The country has been testing regional pilots, and intends to launch a nationwide scheme by the end of the year.

Source: businessgreen.com

Siemens Tops Clean 200 as Chinese Firms Dominate Rankings

21.02.2017

German tech giant Siemens has topped the latest Clean 200 list of publicly traded corporations which make significant revenue from green energy, while Chinese companies continue to dominate the rankings.

Revealed today, the Clean 200 list ranks firms according to green revenues, and features major, established clean tech names such as France’s Schneider Electric SE, US EV company Tesla, Spanish energy firm Gamesa and Danish firms Vestas Wind Systems and DONG Energy within the top 20.

Other major corporations such as Panasonic, Philips Lighting, Bombardier Inc. and Emerson Electric also feature highly in the list, which was last year topped by Japanese car company Toyota – now in second place – in the inaugural Clean 200.

However, while the highest-ranked Chinese firm in the list – Xinjiang Goldwind Science & Technology Co Ltd – sits only at number 15, there are as many as 71 companies from China in the latest quarterly rankings, which is almost double the 41 companies featured from the USA.

Meanwhile, only two UK companies again feature in the latest rankings – energy utility firm SSE Plc at number nine and Dialogue Semiconductor at 161.

Compiled by non-profit organisation As You Sow and market research firm Corporate Knights, the list ranks the largest publicly quoted companies worldwide by their total clean energy revenues, as rated by Bloomberg New Energy Finance.

To qualify, companies must have a market value of at least $1bn and generate 10 per cent of their revenues from clean sources.

Overall, according to Corporate Knights, since the first Clean 200 rankings last August, companies in today’s list only slightly underperformed those in the S&P Global 1200 indices by 1.3 per cent, despite a “tumultuous” period for global stock markets that included President Trump’s surprise US election win in November.

Commenting on today’s rankings, Corporate Knights’ CEO Toby Heaps said the domination of Chinese companies in the Clean 200 was particularly impressive given that China’s stock market is less than half the size of the USA’s.

A number of recent analyses have suggested China could be set to take the lead in the global green economy with the country announcing billions of dollars of investment into renewables and clean technology worldwide in recent months. Meanwhile, President Trump – known to harbour a distaste for wind farms – has indicated he favours greater support for USA’s fossil fuel industries.

“The clean energy ‘space-race’ is on and China is in pole position,” said Heaps. “Whether or not the US can climb out of second place will depend in no small measure on the new administration’s ability to make America green again.”

Updated quarterly, the Clean 200 list excludes all oil and gas companies as well as utilities which generate less than 50 per cent of their power from renewable sources. Also excluded are companies which engage in “negative climate lobbying” or profit from tropical deforestation, weapons manufacturing and the use of child and/or forced labour.

The list serves as a parallel listing to the ‘Carbon Underground 200’ ranking of fossil fuel companies being targeted for divestment.

Source: businessgreen.com

World Bank Scores Sustainable Energy Policies in 111 Countries

21.02.2017

An increasing number of developing countries – Mexico, China, Turkey, India, Vietnam, Brazil, and South Africa – are emerging as leaders in sustainable energy, with robust policies to support energy access, renewables and energy efficiency, according to a new World Bank Report.

But there is huge room for improvement across every region in the world and particularly in Sub-Saharan Africa, says the report, entitled RISE (Regulatory Indicators for Sustainable Energy).

RISE is the first global policy scorecard of its kind, grading 111 countries in three areas: energy access, energy efficiency and renewable energy. The report is aimed at helping governments assess if they have a policy and regulatory framework in place to drive progress on sustainable energy and pinpoints where more can be done to attract private investments. RISE also enables countries to measure their performance against others, and will allow them to track progress over time.

“RISE will be an invaluable tool for policymakers, helping them to identify and bolster policies and regulations that spur the kind of investments needed to extend access to modern, affordable and reliable energy for all,” said Riccardo Puliti, Senior Director and Head of Energy and Extractives at the World Bank.

While many of the countries surveyed in RISE have embraced the sustainable energy agenda, the report identifies important policy gaps across all regions, and highlights opportunities for rapid progress. SubSaharan Africa is the world’s least electrified continent, where 600 million people still live without electricity. As many as 40 percent of Sub-Saharan African countries surveyed by RISE have barely taken any of the policy measures needed to accelerate energy access, compared to less than 10 percent of Asian countries. Exceptions include Kenya, Tanzania, and Uganda which have strong policy frameworks.

RISE assesses where additional efforts are most needed – both developed and developing countries need to pull their weight. Among the top 10 high-impact countries for renewable energy and energy efficiency, all have relatively robust policy frameworks in place. The same cannot be said for the top 10 high-impact countries for access – both Nigeria and Ethiopia still need to make much progress in policies and regulations. The report notes that in order to improve electricity access, there must be a better balance between making power both affordable for customers without undermining the financial viability of the utilities that need to invest to provide service.

With the plummeting costs of solar panels, there is now an opportunity to bring electricity to customers beyond the reach of utility networks. But many countries, have done little to create a regulatory environment favorable to accelerate the diffusion of solar home systems.

RISE finds that measures to promote renewable energy – such as targets, incentives and institutions – are widespread. The challenge is no longer how to build renewable power plants, but how to ensuRISE data is freely available on an online platform that enables users to customize the information they need on each country’s power sector and policy framework an online platform that enables users to customize the information they need on each country’s power sector and policy framework. The report has 27 indicators and 80 subindicators and examines over 3,000 laws, regulations and policy documents.

Source: World Bank

Saudis Kick-Start RE Plan

21.02.2017

Saudi Arabia has launched the first two tenders of its much-awaited 9.5GW renewable energy program.

Under Round 1, the country has opened requests for qualifications for the 400MW Midyan wind farm in Al Jouf province and the 300MW Sakaka solar park in Tabuk province.

Its Renewable Energy Project Development Office is seeking companies to build, own and operate the projects. Both sites have undergone full predevelopment work, according to the ministry.

The office will accept submissions until 20 March and will seek requests for proposals from 17 April.

The wind project will be backed by a 20-year power purchase agreement and the photovoltaic plant with a 25-year deal.

Saudi Arabia’s National Renewable Energy Programme aims to drive the installation of 9.5GW of clean power capacity by 2023, with an interim target of 3.45GW by 2020.

Source: renews.biz

Eco-Industrial Parks: Creating Shared Prosperity and Safeguarding the Environment

21.02.2017

Eco-Industrial Parks (EIP) foster economic and social progress and help to protect the environment. This future-oriented eco-industrial development concept integrates industry and nature to offer businesses prospects for growth, improve eco-systems and foster innovation. UNIDO’s eco-industrial park approach is an inclusive and sustainable development strategy seeking to meet the Sustainable Development Goals (SDGs). It rejects the trade-off between economic growth and the environment.

Stephan Sicars is the Director of the Department of Environment at UNIDO, whose team implements the Organization’s eco-industrial park programme. He explains why there is little time left for shifting to the eco-industrial model:

“If the current business-as-usual practices are sustained, scientists estimate that by 2050 three planet Earths will be needed. Eco-industrial parks promote the circular economy, water resource conservation, recycling and the sound management of waste, as well as the utilization of industrial synergies.”

UNIDO promotes the development of national programmes on eco-industrial parks. These programmes link the existing local projects into a network of national stakeholders and help countries in a comprehensive and coordinated strategic planning of EIPs.

“Eco-industrial parks better integrate industries in the cities through the creation of shared economic opportunities, improved ecosystems and innovative avenues for responsible businesses. EIPs help to achieve the triple bottom-line benefits: economic, environment and social”, says Smail Alhilali, Industrial Development Officer at UNIDO.

In China, one of the most successful EIPs, the Shenyang Development Area (SDA), established a circular economy promotion fund (with a total value of US$4.8m) to support key industrial symbiosis projects. The bulk of investment is being dedicated to supporting public infrastructure at SDA for water pipelines, a natural gas pipeline and heat pumps. This led to increased competitiveness of companies, reduced resource costs, lessened dependence on coal, and increased sales due to “green” and niche marketing.

Modern eco-industrial parks drastically reduce negative environmental impacts caused by industrial operations through environmental management and pollution prevention systems. For example, in 2010, Vietnam Singapore Industrial Park I (VSIP I) was given the Award for Green Technology by the Vietnam Environmental Protection Association for its contribution to environmental conservation. A number of companies in the VSIP I, such as Procter & Gamble Indochina, Uchiyama, Yakult, Esquel Garment, MHE Demag Vietnam, Takako and Estec, have ISO 14001 certification. As a result, these companies are continuously seeking to improve their environmental and social performance through cleaner production and resource efficiency solutions.

Source: unido.org

EnBW Hohe See 500 MW Offshore Wind Farm To Proceed With Siemens & Enbridge

21.02.2017

The 497 megawatt EnBW Hohe See offshore wind farm off the coast of Germany is set to proceed following Canadian energy infrastructure company Enbridge’s decision to invest in the project, and German engineering company Siemens committing for the first time to provide complete construction work.

German public utility company EnBW made a final construction and investment decision back at the end of 2016, and appointed Siemens to provide not just the wind turbines, but full construction work, including providing the foundations. This week, the project received its last green light, with Canadian energy infrastructure company Enbridge acquiring 49.9% of the shares in the Hohe See project.

The EnBW Hohe See offshore wind project is set to be constructed in the “exclusive economic zone” in the North Sea, off the coast of Germany. It will cover an area of approximately 42 square kilometers, and upon completion will have a total capacity of 497 megawatts (MW) thanks to 71 Siemens 7 MW wind turbines. The project is estimated to be able to provide electricity for around 560,000 average households.

“With Enbridge at our side, we can realise our largest offshore wind farm to date and at the same time generate financial scope through this participation for the development of new projects,” said EnBW CEO Frank Mastiaux. “This is now the third successful participation model with which we are sharing the risk and represents another major step in the implementation of our EnBW 2020 strategy.”

“With an investment volume of around 1.8 billion euro, we have not only taken one of the largest investment decisions in the history of our company but despite the currently difficult economic conditions, we are continuing to rigorously invest in the implementation of our strategy and through EnBW Hohe See we are developing another cornerstone for safeguarding the future of EnBW. Following its commissioning in 2019, the wind farm will make a substantial contribution to our Group operating result.”

Siemens will begin manufacturing the 71 SWT-7.0-154 wind turbines from its new nacelle plant in Cuxhaven beginning in the middle 2018, with delivery expected for early 2019. Siemens will also provide the large monopile foundations, measuring up to 80 meters and with a weight of 1,500 tonnes.

“We are happy to apply our full scope of engineering services at EnBW Hohe See offshore wind project,” said Michael Hannibal, Offshore CEO at Siemens Wind Power. “The extended scope makes this 497-megawatt wind power plant one of the largest projects that we have ever executed. Our customer thereby benefits from the proven experience of a multinational company along the entire value chain of large offshore wind projects.”

Source: cleantechnica.com

Arena to Give EnergyAustralia Grant to Investigate Pumped Hydro Storage Project

21.02.2017

The Australian Renewable Energy Agency (Arena) has approved a $450,000 grant to EnergyAustralia to investigate a pumped hydro energy storage project off South Australia as the state’s energy mix continues to cause a political storm.

The grant will cover a feasibility study into a Spencer Gulf project that the company says has a capacity to produce about 100 megawatts (MW) of electricity with six-to-eight hours of storage.

EnergyAustralia says the storage is the equivalent of installing 60,000 home battery storage systems at one third of the cost.

In a statement, Turnbull described pumped hydro energy storage as a “mature and cost-effective storage technology” that could address the need for security and stability in the electricity grid.

As federal cabinet met in Sydney on Tuesday, EnergyAustralia’s managing director, Catherine Tanna, briefed the cabinet’s energy committee on the project and other options to stabilise the system.

The decision comes after Turnbull wrote to Arena and the Clean Energy Finance Corporation to direct the two agencies to prioritise pumped hydro and storage before his first major speech this year.

It follows a $54m grant from the Clean Energy Finance Corporation last week for a solar development at Genex Power’s Kidston renewable energy hub, 270km north-west of Townsville.

Energy policy continues to provide the flashpoint for federal politics, as South Australia suffers from blackouts. The Coalition has used the blackouts to blame the state Labor governments renewable energy targets and the intermittent nature of wind power.

On Monday, a Senate committee heard that SA Power Networks knew a software glitch caused an additional 60,000 houses in South Australia to be out of power during load shedding this month. However, the state’s network operator stayed quiet for a week and a half while the Turnbull government continued to criticise the South Australian government’s use of renewables.

Labor’s shadow energy and environment spokesman, Mark Butler, said the good work being done by Arena was a result of Labor’s legacy, given the Coalition had tried and failed to abolish it and the Clean Energy Finance Corporation.

“Only a few months ago the government again tried to abolish Arena,” Butler said. “They have no plan. The good work being done is thanks to Labor’s legacy and is happening in spite of, not because of, the government. The industry will continue to take advantage of the latest technologies, like storage, pumped hydro and community renewables.”

Pumped hydro storage works by pumping from a lower reservoir into a higher reservoir when energy is cheap and then dropping the water downhill through a turbine to create electricity when energy is expensive and in high demand.

EnergyAustralia confirmed that, if the Spencer Gulf project goes ahead, a two-year construction would see the power provided to the grid by 2020/21.

The project has developed from an assessment by the Melbourne Energy Institute and engineering and design firm Arup into the adoption of pumped hydro technology using seawater for Australia’s dry conditions. If it goes ahead, it would be the largest seawater pumped hydro project in the world. There is currently only one other plant using seawater for pumped hydro storage.

Source: theguardian.com

Argentina in the G20 Troika: the Boost to Sustainable Financing

21.02.2017

The Ministry of Treasury recently hosted the UN Environment Mission as part of the country’s commitment to boosting sustainable financing.

In its first steps as part of the G20 troika, a set of three countries working to ensure the continuity of the G20 agenda. The Chief of Cabinet of the Ministry of Treasury Ariel Sigal expressed the country’s commitment to the G20 and in this context received today UN Environment, which with its vision will contribute to the development and sustainable financing challenges of Argentina.

Subsequently, the Ministry of Finance held a public event headed by Simon Zadek, co-director of the UN Environment Inquiry, where the design of a sustainable financial system was discussed.

The UN Environment delegation – Simon Zadek, senior advisor Mark Halle, members of the Inquiry team and representatives of UN Environment’s Finance Initiative – arrived in Buenos Aires last Monday with the aim of launching the development of a strategic roadmap on sustainable finance in Argentina, and therefore contributing with the country to the study and analysis of the sector.

Zadek also presented the report “The Financial System We Need: From Momentum to Transformation”, launched at the International Monetary Fund/World Bank annual meetings last October. The report discusses the effectiveness of the financial system in mobilizing capital towards a green and inclusive economy, as presented in the sustainable development goals (SDGs) and the Paris Agreement on climate change.

“A sustainable financial system is essential for Argentina to achieve its development priorities and, in turn, consolidates international cooperation in this area” explained Zadek.

The strategic plan presented today by Zadek shows the commitment of UN Environment to continue working to identify measures and policies that promote the development of a green and inclusive economy. For its part, Argentina will continue to advance in the study and analysis of these high-priority topics, such as sustainable financing, which are discussed in international fora, and the desire to draw on global experiences that make a positive contribution to the local economic policy decisions.

Troika

The troika is formed each year by the country that holds the presidency of the G20, together with its immediate predecessor and successor. In 2017, it is made up of China, Germany and Argentina.

Source: unep.org

Nord Stream 2 to Play Crucial Role in EU’s Energy Security

21.02.2017

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, took place in St. Petersburg yesterday.

The meeting addressed Russian gas supplies to Austria. In 2016, Gazprom exported 6.1 billion cubic meters of gas to Austria, which was 37.9 per cent higher than in 2015. The upward trend in gas demand continues in early 2017, as gas deliveries added 109.8 per cent in January and the first half of February 2017 compared to the same period of 2016.

Particular attention was paid to the Nord Stream 2 project. The parties noted that the gas pipeline would ensure reliable supplies of Russian gas to the European market, playing a crucial role in the European Union’s energy security.

The meeting also touched upon the issues related to the asset swap between Gazprom and OMV.

Source: gazprom.com

EDF Faces £1m a Day Bill to Keep French Nuclear Reactor Offline

21.02.2017

The prolonged closure of a major French atomic reactor after an explosion this month probably costs EDF at least £1m a day, according to experts.

The nuclear plant operator, which will spend £18bn building the UK’s first new nuclear power station in a generation, shut unit 1 at its Flamanville plant after a fire broke out in the turbine hall.

The company initially estimated it would switch on the reactor within a week, but later pushed the date to the end of March. Work begins this week on replacing damaged equipment.

The unexpectedly long closure adds to the financial pressure on EDF, which last week reported a 6.7% decline in core earnings to €16.4bn (£14bn) in 2016. Closures of its French nuclear plants last year, partly for safety checks, have already cost the 85% state-owned company an estimated €1.3bn.

Prof Neil C Hyatt, head of nuclear materials chemistry at the University of Sheffield, said the lost revenue from the reactor closure in Normandy could be £1m per day.

“Bringing a nuclear power plant back online after an unscheduled outage is a complex task and EDF will want to ensure that all parts of the system are working safely and effectively. A short delay to complete the necessary checks is to be expected, given that the outage was unplanned,” he said.

Another expert said the cost of closure could be up to £1.8m per day, depending on energy market prices, and questioned why there was a delay.

“It took operator EDF almost a week to progressively correct the original outage estimate from one day to 50 days. EDF has provided no information as to why the outage time went from a few days to seven weeks,” said Mycle Schneider, a nuclear energy consultant based in Paris.

The 1.3GW reactor at Flamanville is one of a dozen of EDF’s French nuclear fleet currently offline, which the company said was usual for this time of the year.

It did not say why the restart date for the reactor had been revised four times, or why it had jumped from a few days to more than six weeks.

John Large, a nuclear consultant who has advised the UK government, said initial reports that the fire was in a ventilator suggested the offline reactor would be back online within a week or two. Replacing such parts should be relatively straightforward, he said.

He added that the plant’s continued closure would also add to headaches at the French grid operator RTE, which warned of power cuts at the start of winter due to nuclear outages. “The continuing impact on the grid is likely to be significant, especially if a cold snap develops,” Large said.

A second reactor at the plant is still supplying electricity to the French grid. EDF said: “Work on recommissioning the affected equipment has started this week and should last several weeks, with reconnection to the grid planned for the end of March.”

Source: theguardian.com

London is Charging Old, Polluting Vehicles a £10 Fine to Drive in the City

20.02.2017

london, pollution, zagađenje, — Photo: Pixabay

A new law will charge old, polluting cars a £10 fee to drive in central London. London’s mayor Sadiq Khan said that the “T-charge” will help quell the massive amounts of pollution in the central city. The fee targets vehicles that don’t meet Euro 4 standards, and it is expected to affect about 10,000 vehicles every week.

“It’s staggering that we live in a city where the air is so toxic that many of our children are growing up with lung problems,” Khan told The Guardian. “If we don’t make drastic changes now we won’t be protecting the health of our families in the future. That is why today, on the 14th anniversary of the start of the congestion charge, I’ve confirmed we are pressing ahead with the toughest emission standard of any major city, coming to our streets from 23 October.”

Most of the vehicles affected by the T-charge are petroleum-fueled cars and trucks made before 2006. The new law will kick into action on October 23, 2017 and the city is launching an online service that will tell Londoners if their vehicle is affected. The fee will be in addition to London’s Congestion Charge, and a £11.50 daily charge for driving any vehicle within a certain area of the city during specified times on weekdays. That means a potential cost of £21.50 to some drivers who want to bring their vehicles into the city.

If this seems extreme, keep in mind that the Lambeth’s Brixton Road area broke annual air pollution limits over the course of just five days in January of 2017. Diesel vehicles are seen as the single biggest source of the city’s air pollution.

Source: inhabitat.com

Government ‘Clean Coal’ Push Would Be Likely to Make Australia’s Emissions Worse

20.02.2017

The government has indicated it will act to allow the Clean Energy Finance Corporation to finance new coal-fired power plants on the basis that these coal plants have lower emissions than existing coal power plants.

While such power plants may have lower emissions than Australia’s ageing and extremely inefficient existing coal plants, they would most likely increase Australia’s emissions rather than decrease them. And this is in a context where Australia’s electricity supply is the second most polluting in the developed world (beaten only by Estonia).

The new coal power plants the government is promoting as clean emit around 700kg to 750kg of CO2 for every megawatt-hour of electricity they produce. Is that really worthy of the term “clean” and would it help reduce our emissions?

To help you judge, the chart below shows how such a power plant compares to the emissions intensity of not just Australia’s existing coal plants and also Australia’s overall grid’s emissions intensity in 2016 (taking into account the power it also gets from gas, hydro, wind and solar). On that basis the plant looks somewhat cleaner. But is that the right benchmark?

With the closure of the Hazelwood coal-fired power station shortly, there will be a significant improvement in Australia’s electricity supply emission intensity. In addition, by 2022, which is probably the earliest point a new coal power plant could be built, Australia will have added a significant amount of new zero-emission power plant capacity from wind and solar to meet the renewable energy target.

Using the government’s own analysis of future emissions based on existing policies, our grid’s emissions will be lower than these so-called clean coal power plants.

As some added context the chart also shows the emissions intensity of a new baseload gas power plant and also the grid emissions intensity of electricity globally and in North America and Europe.

So the government’s plan for the Clean Energy Finance Corporation to fund new coal plants would most likely make Australia’s emissions worse. And by international benchmarks it looks appallingly emissions intensive.

Source: theguardian.com

Global Heat Melts Arctic and Antarctic Sea Ice to Record Lows – UN agency

20.02.2017

17 February 2017 – It should be winter on the Arctic pole – the northern most point in the world – but the equivalent of heatwaves have passed over the region this season melting the sea ice volume to a record low in January, the United Nations meteorological agency said.

“Temperatures in the Arctic are quite remarkable and very alarming,” said David Carlson, Director of the World Climate Research Programme which is co-sponsored by the UN World Meteorological Organization (WMO), the UN Educational, Scientific and Cultural Organization (UNESCO) and the International Council for Science.

Sea ice extent was the lowest on the 38-year-old satellite record for the month of January, both at the Arctic and Antarctic, according to data cited WMO from both the US National Snow and Ice Data Center (NSIDC) and Germany’s Sea ice Portal operated by the Alfred-Wegener-Institut.

The Arctic sea ice extent averaged 13.38 million square kilometres in January, according to NSIDC. This is 260,000 square kilometers below the level in January 2016 – an area bigger than the size of the United Kingdom.

“The recovery period for Arctic sea ice is normally in the winter, when it gains both in volume and extent. The recovery this winter has been fragile, at best, and there were some days in January when temperatures were actually above melting point,” said Mr. Carlson.

“This will have serious implications for Arctic sea ice extent in summer as well as for the global climate system. What happens at the Poles does not stay at the Poles.”

In addition, the ice levels at the Antarctic are also at record lows, even thinner than expected for the summer season there.

Source: un.org

SunPower Shines in France

20.02.2017

SunPower is to supply E-Series solar panels totalling 64.4MW for seven photovoltaic plants to be developed by La Compagnie du Vent in France.

A large portion of the panels will be manufactured at SunPower’s facilities in France, the company said.

La Compagnie du Vent is a subsidiary of Engie.

SunPower executive vice president Eduardo Medina said: “Since 2012, La Compagnie du Vent has been a valued SunPower partner, and we are pleased to supply an additional 64.4MW of solar panels that will deliver emission-free power for homes and businesses in France.”

Source: renews.biz

Solar Growth Skyrockets as Nuclear Power Fails to Compete

20.02.2017

Last year’s solar deployment numbers just came in and they are, in a word, phenomenal. Utilities bought more new solar capacity than they did natural gas capacity: an astounding 22 states added more than 100 MW of solar each.

At the same time, there is grim news about delays in construction and associated cost over-runs for nuclear plant construction projects in Georgia and South Carolina. SCANA—owner of South Carolina Electric & Gas and sponsor of the VC Summer Nuclear Project—has just reported new delays in the in-service dates of its new reactors to 2020. Construction started more than 7 years ago, with energy deliveries promised to begin in 2016.

Past hopes for a “renaissance” in nuclear power in the U.S., with four to eight new nuclear plant facilities projected to come on line in America between 2016 and 2018, have been overwhelmed by competition. Union of Concerned Scientists predicted this trend in costs many times.

Meanwhile, there is much to say about the solar boom. Just ask one of your 1,300,000 neighbors who have solar on their property.

To put these achievements in perspective, let’s talk about solar jobs and productivity. The solar industry employs more than 260,000 people in the U.S. The continuous improvement in know-how in construction techniques and in manufacturing drives down solar deployment costs every three months. The pricing for new solar projects is coming in the range of 4 cents (Texas) to 5 cents (California) per kilowatthour.

In comparison with nuclear, the amount of solar power built in 2016, taking into account how many hours each can operate each day, is the equivalent of more than three new nuclear plants.

To dive in a little deeper: let’s use a 25 percent capacity factor for new solar, making the 14,626 MW installed equivalent to 3,650 MW of theoretically perfectly running nuclear plants. The Westinghouse AP 1000 units under construction for the last seven to 10 years produce about 1,100 MW. So, in one year, solar additions were equal to what takes more than seven years to build. The difference in speed of deployment is why Union of Concerned Scientists is clear that nuclear power isn’t a near-term climate solution.

In the energy business, nuclear is fading fast. Struggles to keep existing plants open in competitive markets are roiling the electricity markets. But the recent news about the very few manufacturing firms supplying nuclear construction illustrates how very different the nuclear industry is from solar.

Cost over-runs in the U.S. plants are so large that when state regulators finally put a cap on what South Carolina and Georgia consumers would pay, manufacturer Toshiba (owner of Westinghouse) found itself with $6 billion in losses and the likely end of its business in nuclear power plant construction.

The concentration of nuclear component manufacturing in so few companies has shown how a problem with quality led to a “single point of failure” plaguing the fleet of French nuclear plants. Policy in the U.S. has been to shield the utility companies from the risks of their business decisions to construct nuclear plants, continuing with the Vogtle plant in Georgia.

Source: ecowatch.com

End Fossil Fuel Subsidies by 2020, Insurers and Investors Tell G20

15.02.2017

A coalition of 16 leading investors and insurers, including Aviva Investors, Aegon Asset Management and Legal & General, have today urged G20 nations to halt all subsidies for fossil fuels by the end of the decade, warning ongoing government support risks destabilising the financial sector and jeopardising the Paris Agreement climate goals.

The group, which combined represents more than $2.8tr assets under management, issued a joint statement urging the G20 to set out a firm plan to halt fossil fuel subsidies by 2020 at its summit in Hamburg, Germany, in July.

“Subsidies and public finance supporting the production and consumption of fossil fuels are a key concern to the finance sector,” the statement reads. “They increase the risk of stranded fossil fuel assets, decrease the competitiveness of key industries, including low‐carbon businesses, and negate the carbon price signals many of us have been calling for.”

In May 2017 G7 nations committed to phasing out fossil fuel subsidies by 2025, although a G20 summit two months later failed to deliver a wider commitment from all G20 nations, despite appeals from more than 200 non-governmental organisations.

“In line with the commitments already made by G20 governments, we need to see a clear plan to phase out subsides to fossil fuels,” said Meryam Omi, head of sustainability and responsible investment strategy at Legal and General. “The current level of inefficient subsidies and lack of transparency are jeopardising the global goal of meeting the Paris climate targets and of ensuring a secure, healthy and reliable energy system.”

She added investors are looking for clear signals from governments to help them funnel money into the low-carbon transition.

“As investors, we are faced with a tremendous opportunity to finance the low carbon transition and, as such, we look for the governments to set a clear timeline and a plan for phasing out fossil fuel subsidies to enable an orderly transition,” she said.

Research from the Overseas Development Institute (ODI) and Oil Change International suggests G20 governments spend $444bn each year supporting fossil fuel production.

Howver, there is some controversy over the definition of a subsidy and some countries, including the UK, claim not to subsidise fossil fuel production at all, arguing hefty tax breaks for the industry and other supportive policies do not constitute subsidies.

According to the ODI and the Global Subsidies Initiative, ending fossil fuel subsidies would be lead to reductions in greenhouse gas emissions equivalent to the global aviation sector.

Shelagh Whitley, head of the ODI’s climate and energy research programme, said fossil fuel subsidies are “bad economic policies” and urged ministers to take note of the calls from investors.

“G20 ministers must heed investor voices, and ensure that the leaders of their countries commit to a firm deadline to end fossil fuel subsidies at the G20 Summit in Hamburg later this year,” she said in a statement.

In related news, Austrian pension fund VBV-Pensionskasse announced today it has cut 100,000 tonnes of carbon dioxide per year from its portfolio by switching its core investment – the VBV Passive World Equities Fund – to a low carbon approach at the beginning of the year.

The move cut the carbon intensity of VBV-Pensionskasse’s portfolio by 55 per cent – equivalent to the average annual consumption of around 40,000 diesel cars.

“As market leader, we believe that the carbon footprint of investments and appropriate decarbonisation strategies for capital investments are landmark issues that reach far beyond the pension fund sector,” head of investments Guenther Schiendl said in a statement. “In the interest of our customers and with our responsibility for the location in mind, we have decided to send out a signal and hope there will be a knock-on effect among the companies we share the market with.”

Source: businessgreen.com

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