Energy Tech

• [New] Massachusetts lawmakers on Monday passed sweeping climate legislation that sets a statewide net zero limit on greenhouse gas emissions by 2050, includes new renewable energy targets and efficiency standards, and codifies environmental justice provisions into state law.
• [New] Green hydrogen will fulfill a fifth of the global's energy needs with an $11 trillion capital expenditure in development and storage worldwide by 2050 and much more electricity than the globe consumes today.
• [New] The World Bank (2020), for example, finds that under a 2-degree scenario, production of graphite, lithium, and cobalt will need to be ramped up by more than 450% by 2050-from 2018 levels - to meet demand from energy storage technologies (particularly for EVs).
• Energy Demand: UK misses clean growth strategy target to improve business and industry energy efficiency by 20% by 2030.
• To produce 10 million tons of green hydrocarbon, the European Commission plans to invest in 40 gigawatts (GW) of electrolyzers by 2030, which requires an additional 80 GW-120GW of renewable generation capacity.
• ESSs are expected to develop considerably in the coming years since both wind and PV are intermittent sources, and battery storage and pumped hydro energy are emerging as the most implemented solutions for adjusting the profiles of energy generation and energy demand.
• The deployment of 100 GW of energy storage by 2030 would create at least 200,000 jobs, without accounting for a surge in U.S. technology innovation or expansion of domestic manufacturing.
• Power sector efficiency can be increased by shutting down small and inefficient plants, thereby increasing the fraction of China's large power units (with capacity larger than 600 MW) to 80% in 2030.
• Starbucks is entering into a combined VPPA and Virtual Storage Agreement that once online in 2021, will provide renewable energy for more than 550 stores in California with solar energy and utility-scale batteries.
• The deployment of low carbon technologies needed by 2050 to meet net zero will require a significantly increased use of energy storage technologies across all vectors and durations.
• Industrial manufacturing, energy production (including mining, oil and gas, and logistics) alone will generate private network revenues of US$ 32.38 billion by 2030, representing half of the US$ 64 Billion overall private network revenues.
• Over 2021 or so, we expect to see homeowners embrace solar as part of a total solution for clean energy homes, encompassing battery storage, energy efficiency upgrades, and electric vehicles.
• Energy efficiency progress is the weakest in a decade, threatening international climate goals and intensifying the need for urgent action.
• Industrial manufacturing, energy production (including mining, oil and gas, and logistics) alone will generate private network revenues of $32.38 billion by 2030, representing half of the $64 Billion overall private network revenues.
• By Wartsila Energy's calculations, the UK could invest in adding 7GW of flexible energy capacity through utility-scale battery storage, advanced flexible gas plants and technologies like vehicle-to-grid by 2030, if it scrapped plans for Sizewell C nuclear power station.
• Recommended investments include a Retrofit Fund for England, with £5.3bn per year through to 2030, before £3.5bn a year to 2050, on heat pumps combined with high energy efficiency standards.
• Maintaining a strong pace of emissions reductions post-2030 requires a relentless focus on energy and material efficiency, electrification, and a strong role for low-carbon liquids and gases.
• The launch of a £180 million Emerging Energy Technologies Fund, that, over the next 5 years, will support the development of Scottish hydrogen and Carbon Capture and Storage (CCS) industries, and support the development of Negative Emissions Technologies.
• India's cooling action plan has goals to reduce cooling demand across sectors by 20% to 25% by year 2037-2038.
• By developing a low-carbon pathway - accelerating renewable energy deployment, shifting away from coal, and implementing energy efficiency measures - India can reduce its emissions by at least 0.6 billion tons per year in 2030.
• By developing a low-carbon pathway-accelerating renewable energy deployment, shifting away from coal, and implementing energy efficiency measures-India can reduce its emissions by at least 0.6 billion tons per year in 2030.
• Spain, peak demand of 40 GW in 2018, plans to develop an additional 6 GW of storage capacity by 2030, broken down between 2.5 GW of batteries and 3.5 GW of PSH.
• Italy, which peak demand reached in 58 GW 2018, estimates that its power system will require 10 GW of new storage capacity by 2030, including 4 GW of distributed storage facilities (e.g. batteries), and 6 GW of PSH and centralized electrochemical production (e.g. hydrogen).

Last updated: 17 January 2021