article thumbnail

3 Oil Majors That Bet Big On Renewables

Green Car Congress

Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com. 2 Total SA.

Oil 418
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). But like trying to turn a massive oil tanker, it takes time.

Coal 243
article thumbnail

Tesla Megapack battery turns on to replace Hawaii’s last coal plant

Baua Electric

A Tesla Megapack battery system has officially turned on to replace Hawaii’s very last coal power plant. In early 2022, we reported that Tesla is deploying Megapacks at a new energy storage project that will replace Hawaii’s last remaining coal plant. It will enable better use of the state’s increasing renewable energy.

Coal 52
article thumbnail

EIA projects increases in global energy consumption and emissions through 2050

Green Car Congress

Renewables will be the primary source for new electricity generation, but natural gas, coal, and increasingly batteries will be used to help meet load and support grid reliability. Oil and natural gas production will continue to grow, mainly to support increasing energy consumption in developing Asian economies.

Global 259
article thumbnail

Energy Vault to provide 1.6 GWh of gravity energy storage to support DG Fuels SAF projects

Green Car Congress

Energy Vault, a company developing grid-scale gravity energy storage solutions, has entered into an energy storage system agreement with DG Fuels, a developer of renewable hydrogen and biogenic-based, synthetic sustainable aviation fuel (SAF) and diesel fuel. Under the terms of the agreement, Energy Vault agreed to provide 1.6

article thumbnail

BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

Green Car Congress

The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. While diesel and oil-based power is still uneconomic at $60/barrel, the pressure to switch is reduced.

article thumbnail

UC Riverside opening Sustainable Integrated Grid Initiative; integration of solar energy, battery storage and electric and hybrid vehicles

Green Car Congress

Schematic of the “New Grid Testbed” components, including renewable energy generation, energy storage, smart distribution and electric transportation Click to enlarge. Energy monitoring, management and control tools developed by UC Riverside engineering students to ensure energy grid stability, reliability and efficiency.

Grid 287