Remove 2018 Remove Coal Remove Gas Remove Installation
article thumbnail

BloombergNEF: clean energy investment in developing nations slumps as financing in China slows; coal burn surges to record high

Green Car Congress

New investment in wind, solar, and other clean energy projects in developing nations dropped sharply in 2018, largely due to a slowdown in China. This is due to wind and solar projects generating only when natural resources are available while oil, coal, and gas plants can potentially produce around the clock. thousand in 2017.

Coal 243
article thumbnail

Panda Power finances conversion of retired coal plant to natural gas; one of largest power conversion projects in US

Green Car Congress

Panda Power Funds has financed the 1,124 megawatt Panda “Hummel Station” power plant—one of the largest coal-to-natural gas power conversion projects in the United States. The plant will be located at the site of the retired Sunbury coal-fired power plant near Shamokin Dam in Snyder County, Pennsylvania.

Coal 150
article thumbnail

Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

Green Car Congress

We see $548 billion being invested in battery capacity by 2050, two thirds of that at the grid level and one third installed behind-the-meter by households and businesses. The result will be renewables eating up more and more of the existing market for coal, gas and nuclear. NEO 2018 sees $11.5

Wind 220
article thumbnail

ArcelorMittal Europe to produce “green steel” starting in 2020

Green Car Congress

By installing an electrolyzer, hydrogen can be produced and injected in large volumes into the blast furnace tuyeres. The project will reduce the volumes of coal needed in the iron ore reduction process, thereby cutting CO2 emissions. Customers will be able to buy green steel, based on verified emissions compared with a 2018 baseline.

Europe 382
article thumbnail

3 Oil Majors That Bet Big On Renewables

Green Car Congress

An analysis of near-term spending plans on renewables by the biggest oil and gas companies shows that real investments in renewable energy will continue to pale in comparison to capex plans for greenfield fossil fuel projects. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects.

Oil 418
article thumbnail

BloombergNEF: solar, wind, batteries to attract $10T to 2050; curbing emissions long-term will require other technologies

Green Car Congress

Electricity demand is set to increase 62%, resulting in global generating capacity almost tripling between 2018 and 2050. The results show coal’s role in the global power mix falling from 37% today to 12% by 2050 while oil as a power-generating source is virtually eliminated. This will attract $13.3 trillion in new investment.

Wind 207
article thumbnail

UCSD study: under current policies, home energy storage would often increase carbon emissions

Green Car Congress

Conventional wisdom may suggest that these storage systems—essentially household batteries such as the Tesla Powerwall—could be instrumental in weaning ourselves off greenhouse gas-emitting energy sources. Would greenhouse gas emissions from the electric power system go down, and at what economic cost? 8b03834.