2020 US electricity generation data are in from the US Energy Information Administration. Crunching the numbers, renewable energy accounted for 20.6% of US electricity generation last year. That was led by wind power, which accounted for 8.3% of US electricity generation, followed by hydropower at 7.2% and solar power at 3.3%. As reported last month, 77–80% of new US power capacity came from solar and wind power in 2020.
Finnish technology group Wartsila has landed an engineering, procurement and construction contract to supply a barge-mounted energy storage system to Therma Marine for deployment offshore the Philippines. Therma Marine, a subsidiary of Aboitiz Power Corporation, will place Wartsila’s 54 megawatt/32 MWh barge next to its existing 100-MW thermal power barge in the municipality of Maco in the province of Davao de Oro to provide greater flexibility and meet reserve capacity agreements.
Around the world, governments and automakers are promoting electric vehicles as a key technology to curb oil use and fight climate change. General Motors has said it aims to stop selling new gasoline-powered cars and light trucks by 2035 and will pivot to battery-powered models. This week, Volvo said it would move even faster and introduce an all-electric lineup by 2030. But as electric cars and trucks go mainstream, they have faced a persistent question: Are they really as green as advertised?
Emerging Asia's clean energy projects are gradually crawling back to normalcy after delays caused by COVID-19-related lockdowns and movement restrictions, and as governments diverted their attention and spending towards economic relief measures and battling the virus. The pace of recovery is slow and COVID-19 has impacted both economic and energy demand growth, while many countries missed their renewable energy targets for 2020 and energy companies reassessed capital expenditure amid the turmoil.
Sunlight is looked upon as the cleanest source of energy, which can be easily harvested. So much so that Prime Minister Narendra Modi went to the extent of saying at the recently held World Solar Technology Summit that India can exceed its renewable energy (mainly solar and wind) targets, going beyond 175 GW to reach 220 GW capacity by 2022. The Prime Minister’s optimism is guided by the spurt in solar energy capacity built up over the years, which has given hope that we may finally wean away from coal-based energy – responsible for most of the world’s CO2 emissions.
Bradley Wilkinson is the owner of a 2017 Chevrolet Bolt, and the kind of electric-vehicle diehard who knows how to squeeze every last mile of range out of his vehicle. Even so, during his most recent road trip, from Tampa, Florida, back home to Fort Carson, Colorado, he spent about 58 hours on the road. In a gasoline-powered vehicle, on average, the 1,900-mile journey would take about 30. His relatively sluggish pace was due to his need to regularly power up the Bolt's battery at a "fast" charger -- so called because they're many times faster than typical home chargers.
President Joe Biden wants to change the way the U.S. uses energy by expanding renewables, but he will need to navigate a host of challenges — including the coronavirus pandemic and restoring hundreds of thousands of lost jobs — to get it done. The wind and solar industries have managed to grow despite a less-than-supportive Trump administration, which favored fossil fuels such as coal. They have a new ally in the White House in Biden, who has set a goal of 100% renewable energy in the power sector by 2035.
Should eco-conscious investors support a company that’s developing innovative solutions to climate change—even if that company is also a major polluter? The market’s answer to this question has been a resounding “no,” as evidenced by the investment policies that exclude traditional oil producers from most so-called sustainable funds. But this stance eliminates some of the most prolific and influential producers of green innovation, including Exxon Mobil, BP, and Chevron, according to recent research by Harvard Business School Professor Lauren Cohen.