article thumbnail

EIA projects increases in global energy consumption and emissions through 2050

Green Car Congress

In its International Energy Outlook 2021 (IEO2021), EIA projects that strong economic growth, particularly with developing economies in Asia, will drive global increases in energy consumption despite pandemic-related declines and long-term improvements in energy efficiency. —EIA Acting Administrator Stephen Nalley.

Global 259
article thumbnail

IEA: COVID-19 crisis causing the biggest fall in global energy investment in history

Green Car Congress

The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report.

Global 344
article thumbnail

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

Green Car Congress

While the number of new clean power-generating plants completed stayed flat year-to-year, the volume of power derived from coal surged to a new high, according to Climatescope , an annual survey of 104 emerging markets conducted by research firm BloombergNEF (BNEF). thousand terawatt-hours in 2018, up from 6.4 thousand in 2017.

Coal 243
article thumbnail

Rivian to turn coal mine to solar energy center in Kentucky

Teslarati

The Starfire Mine, Kentucky, was once one of the largest coal mines in the United States. billion vehicles in the global fleet,” said Rivian Founder and CEO RJ Scaringe. billion vehicles in the global fleet,” said Rivian Founder and CEO RJ Scaringe. The conversion is estimated to be a $1 billion solar project.

article thumbnail

Siemens Energy, FFI and GeoPura developing prototype ammonia cracker to produce hydrogen

Green Car Congress

We have just 13 years to deliver a net-zero electricity grid for the UK. It can be used for storing large amounts of hydrogen in a liquid form that builds on existing global supply chain infrastructure. The traditional process of producing ammonia has used “grey” or “black” hydrogen from either natural gas or coal.

Hydrogen 488
article thumbnail

BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

Green Car Congress

After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the COVID-19 pandemic reduces energy consumption across the global economies. The report shows that medium-term growth will come from increasing cost-competitiveness and increased global access to gas. Low-carbon gas.

Gas 243
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. Coal emerges as the biggest loser in the long run.

Wind 220