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Wärtsilä report finds accelerated adoption of renewables can reduce electricity production costs by up to 50%

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Once there is sufficient renewable output, battery storage and thermal balancing power plant capacity in the system, retire legacy inflexible plants, such as coal. coal and gas), significantly reducing the overall levelised cost of electricity. Utilities should keep repeating steps 1 - 3 until their systems run on 80 – 90% renewables.

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IEA: time to tap into hydrogen’s potential to play a key role in a clean, secure and affordable energy future

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In a major new report on hydrogen, the International Energy Agency says that the time is right to tap into hydrogen’s potential to play a key role in a clean, secure and affordable energy future. A wide variety of fuels are able to produce hydrogen, including renewables, nuclear, natural gas, coal and oil.

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Huge Tesla Megapack project breaks ground in Queensland

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Another Tesla Megapack project in Australia has broken ground, set to replace a former coal plant as part of a sustainable energy hub in Queensland. Now, we’ve started converting it into one of the state’s first Clean Energy Hubs,” said Mick de Brenni, Queensland Minister for Energy and Clean Economy Jobs.

Tesla 135
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BNEF: steel industry set to pivot to hydrogen in green push; additional $278B for clean capacity and retrofits

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Another 45% could come from recycled material, and the rest from a combination of older, coal-fired plants fitted with carbon capture systems and innovative processes using electricity to refine iron ore into iron and steel. The steel industry cannot afford to wait for the 2040s to start its transition.

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Obama climate plan calls for new fuel economy standards for heavy-duty vehicles post-2018; cleaner fuels and investment in advanced fossil energy

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Among the transportation-related elements of US President Barack Obama’s new climate action plan, which he is outlining today in a speech at Georgetown University, is the development of new fuel economy standards for heavy-duty vehicles post-2018. The Administration will also seek to expand bilateral cooperation with major emerging economies.

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IEF, IHS Markit: deepening underinvestment in hydrocarbons raises specter of continued price shocks and volatility

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Insufficient upstream investment could result in more price volatility and spur adverse economic consequences, such as wider energy poverty, more frequent scarcity and fuel switching to more polluting energy sources such as wood and coal, the report found. It would also complicate policy choices during the energy transition.

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EC presents action plan for critical raw materials

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The actions are intended to foster a transition towards a green and digital economy, and at the same time, bolster Europe’s resilience and open strategic autonomy in key technologies needed for such transition. A secure and sustainable supply of raw materials is a prerequisite for a resilient economy.

Europe 365