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BNEF: cost of new renewables rises as inflation starts to bite

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The cost of new-build onshore wind has risen 7% year on year, and fixed-axis solar has jumped 14%, according to the latest analysis by research company BloombergNEF (BNEF). The global benchmark levelized cost of electricity, or LCOE, has retreated to where it was in 2019. The latter cost at $74 and $81 per MWh, respectively.

Cost Of 210
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EIA expects significant increases in US wholesale electricity prices this summer

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EIA forecasts wholesale prices for one price hub in each STEO electricity supply region. Various factors determine wholesale electricity prices, but the cost of fuel for fossil-fuel generators is an important driver. The natural gas price at the Henry Hub averaged $8.14 MMBtu in May 2021. MMBtu this summer, up from $3.93/MMBtu

Price 476
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IEA: governments must act to ensure sufficient supply of critical minerals to meet net-zero goals

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Demand outlooks and supply vulnerabilities vary widely by mineral, but the energy sector’s overall needs for critical minerals could increase by as much as six times by 2040, depending on how rapidly governments act to reduce emissions. Ensure adequate investment in diversified sources of new supply. Source: IEA. Source: IEA.

Supplies 248
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Electra raises $85M to advance Low-Temperature Iron process; electrochemical refining at 60?C

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Electra’s process emits zero carbon dioxide emissions and carries zero green premium, meaning it will cost the same or less than existing production methods powered by fossil fuels. The “Iron Ore Challenge”: Commercial iron ores with iron content of 62% or higher are projected to be in short supply by the early 2030s.

Coal 360
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Utility solar dethrones coal as the cheapest power source in Asia

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Photo: China News Service Renewable energy costs in Asia last year were 13% cheaper than coal and are expected to be 32% cheaper by 2030, according to a new study. This is significant because it marks a shift toward making renewables increasingly competitive with coal, a mainstay in APAC’s energy mix.

Asia 52
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IEA: global CO2 emissions rebounded to their highest level in history in 2021; largely driven by China

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billion tonnes, their highest ever level, as the world economy rebounded strongly from the COVID-19 crisis and relied heavily on coal to power that growth, according to new IEA analysis. Coal accounted for over 40% of the overall growth in global CO 2 emissions in 2021, reaching an all-time high of 15.3 billion tonnes.

Emissions 370
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EPRI assesses status of 8 key power generation technologies for US; estimates of capital cost and levelized cost of electricity

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Comparative levelized cost of electricity in 2025 ($/MWh) at different CO 2 prices. Representative costs are reported in constant December 2010 US dollars. LCOE calculations are based on assumptions regarding future unit operations, operating costs, fuel prices, financing terms, and inflation. Source: EPRI. Click to enlarge.

EPRI 239