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The transition to electric vehicles (EVs) continues to unfold globally. Europe has led the transition overall, with its policies, infrastructure, and incentives further supporting an electric future. In London, recent amendments to the city’s congestion pricing structure have provided a discount for drivers of electric vehicles.
This poor value performance is the result of compounded market effects on all-electric cars. New brands are also entering Europe , offering advanced all-electric vehicles with lower price tags. In 2025, %RVs are forecast to decrease, down 2.6% The Italian government decided not to renew EV incentives for 2025.
Despite the much-vaunted megatrend involving the global electrification drive and shift to renewable energy , the most ambitious pledges by Big Oil to pursue net-zero agendas remain weak at best. Indeed, much of Big Oil's reduction in greenhouse gas (GHG) emissions leans on the so-called natural gas bridge. 2 Total SA.
IBM has developed an advanced power and weather modeling technology that will help utilities increase the reliability of renewable energy resources. The solution combines weather prediction and big data analytics to forecast accurately the availability of wind power and solar energy.
In a new report , Deloitte forecasts that the clean hydrogen market will top the value of the liquid natural gas trade by 2030 and grow further to US$1.4 trillion per year by 2050. To achieve climate neutrality by 2050, the clean hydrogen market capacity can grow to 170 million tons (MtH 2 eq) in 2030 and to 600 MtH 2 eq in 2050.
The Front-Loading Net Zero report states that electricity production costs could be reduced by up to 50% by 2050 if countries and states adopt 100% renewable systems faster than currently planned. Utilities should keep repeating steps 1 - 3 until their systems run on 80 – 90% renewables.
Electricity is continuing to gain traction in previously thought to be hard-to-electrify sectors including heavy trucking and aviation. Electricity’s share in transport will grow from 1% today to 23% in 2050, according to DNV’s latest Transport in Transition report.
Japan’s New Energy and Industrial Technology Development Organization (NEDO), Toshiba Energy Systems & Solutions Corporation (Toshiba ESS), Tohoku Electric Power Co., Japan’s New Energy and Industrial Technology Development Organization (NEDO), Toshiba Energy Systems & Solutions Corporation (Toshiba ESS), Tohoku Electric Power Co.,
In a new piece of research, BloombergNEF (BNEF) finds that the levelized cost of hydrogen (LCOH 2 ) made from renewableelectricity is set to fall faster than it previously estimated. These costs are 13% lower than BNEF’s previous 2030 forecast and 17% lower than its old 2050 forecast.
US distillate fuel inventories average 17% below the five-year average in the forecast for 2023. Other key takeaways from the November 2022 STEO forecast include: EIA forecastsrenewable energy sources will provide 24% of US electricity generation in 2023, up from an estimated 22% in 2022. “We
Concept of the service and mobile app for renewable charging. OnStar and Google are working together to demonstrate a new OnStar service for managing the charging of Chevrolet Volts with renewable energy, using the 17 Chevrolet Volts in Google’s “Gfleet” based at the company’s headquarters in Mountain View, Calif. Click to enlarge.
Energy storage installations around the world are projected to reach a cumulative 411 GW (or 1,194 GWh) by the end of 2030, according to the latest forecast from research company BloombergNEF (BNEF). Record electricity prices are forcing consumers to consider new forms of energy supply, driving the residential storage market in the near term.
The US Energy Information Administration’s (EIA’s) Annual Energy Outlook 2022 (AEO2022) Reference case forecasts that US energy consumption will grow through 2050, primarily driven by population and economic growth. In the industrial sector, the most growth in demand for petroleum is for hydrocarbon gas liquids (HGL) used as a feedstock.
In its new report Energy Storage on the Grid (ESG), Pike Research forecasts that global spending in the ESG market will reach a little over $22 billion over the next 10 years. This is a downward revision from the $35B the firm forecast for ESG spending through 2020 in a report published last August. 2010 vs 2011 forecasts.
This year’s outlook is the first to highlight the significant impact that falling battery costs will have on the electricity mix over the coming decades. BNEF predicts that lithium-ion battery prices, already down by nearly 80% per megawatt-hour since 2010, will continue to tumble as electric vehicle manufacturing builds up through the 2020s.
Interrelationship between EV energy economy (y-axis) and and the electricity grid emissions intensity (x-axis) in determining full fuel cycle greenhouse gas emissions. The source of the electricity used to power electric vehicles is a key issue in Victoria. —“Environmental Impacts”. Source: “Environmental Impacts”.
Solid-oxide-fuel-cell manufacturer Bloom Energy is entering the commercial hydrogen market by introducing hydrogen-powered fuel cells and electrolyzers that produce renewable hydrogen. This expansion of our product offering enables zero-carbon electricity and transportation solutions. —Jason Ahn, CEO of SK E&C. —Jason Ahn.
The US Energy Information Administration (EIA) expects US electricity consumption this year to increase 2.4% According to the agency’s August 2022 Short-Term Energy Outlook (STEO), growth in renewable energy will meet most of the increased electricity demand this year. EIA expects US residential electricity prices will be 6.1%
Navigant Research forecasts that the transportation segment, with hydrogen demand as a catalyst, will jump-start power-to-gas (P2G) demand and further drive down electrolyzer and other infrastructure costs. Navigant notes that P2G offers benefits to the electric grid through the integration of renewable energy sources.
A new Energy Department study conducted by the National Renewable Energy Laboratory (NREL) indicates that by 2025 wind and solar power electricity generation could become cost-competitive without federal subsidies, if new renewable energy development occurs in the most productive locations. mmBtu and $8.43/mmBtu.
Audi A3 TCNG for e-gas project. Starting in 2013, Audi will begin series production of TCNG models whose engines—derived from TFSI units—will be powered by e-gas: synthetic methane produced via the methanation of hydrogen produced by electrolysis using renewableelectricity. Click to enlarge.
Arun Raju, director of the Center for Renewable Natural Gas at UC Riverside, recently received a $146,000 grant from Southern California Gas Co. SoCalGas) to examine the proposed 100% Renewable Portfolio Standard (RPS) and explore options that can help achieve emission reduction goals more efficiently and at lower costs.
Neste, the world’s leading producer of renewable diesel and sustainable aviation fuel (SAF), is beginning the final phase of testing of a renewable gasoline for drop-in commercial use in the existing fleet. The EU recently increased its target for the reduction of the greenhouse gas emissions by at least 55% by 2030.
This edition of the annual Outlook marks the first extension of the long-term energy forecast to 2040. Globally, ExxonMobil expects to see growth in plug-in hybrids and electric vehicles, along with compressed natural gas (CNG) and liquefied petroleum gas (LPG) powered vehicles. L/100 km) by 2040.
IHS Markit forecasts that annual global investments in green hydrogen—hydrogen production powered by renewable sources—will exceed US$1 billion by 2023. The increasing interest has been driven by falling electrolysis and renewable power costs and by increasing government focus on green hydrogen.
A coalition of major oil & gas, power, automotive, fuel cell, and hydrogen companies have developed and released the full new report, a “ Road Map to a US Hydrogen Economy. ” Analytical support was provided by McKinsey and scientific observations and technical input was provided by the Electric Power Research Institute.
Renewables are expanding quickly but not enough to satisfy a strong rebound in global electricity demand this year, resulting in a sharp rise in the use of coal power that risks pushing carbon dioxide emissions from the electricity sector to record levels next year, according to a new report from the International Energy Agency.
The California Energy Commission approved its first $10 million to fund Electric Program Investment Charge (EPIC) research and development (R&D) projects during its monthly business meeting today. Southern California Edison, and San Diego Gas & Electric Co. Southern California Edison, and San Diego Gas & Electric Co.
Between now and 2020, wind and solar generation will quadruple within the ISO transmission grid at the same time electric vehicle charging increases significantly. With these factors in mind, the ISO developed a new long range planning vehicle titled Reliable Power for a Renewable Future. and reliable electricity.
In addition to its regional and temporal scope, this study is distinct from earlier LCA literature in four key aspects: This study considers the lifetime average carbon intensity of the fuel and electricity mixes, including biofuels and biogas.
The US Energy Information Administration (EIA) expects US liquefied natural gas (LNG) exports to average 10.5 That amount is a 14% decrease in US LNG exports from EIA’s June forecast. With less LNG being exported in the second half of the year, more natural gas is likely to stay in the domestic market.
The US Energy Information Administration (EIA) forecasts that US energy-related carbon dioxide (CO 2 ) emissions will decline by 11% in 2020. In EIA’s latest Short-Term Energy Outlook , US energy-related CO 2 emissions are forecast to fall more than the 5% decline in gross domestic product (GDP) in 2020. Source: U.S. Source: U.S.
The results of the Life Cycle Assessment (LCA) of greenhouse gas emissions and primary energy demand of the cars tested by Green NCAP in 2022 show that the current and continuous trend towards larger and heavier cars, significantly increases the negative impact on climate and energy demand.
The world will need more than twenty times the amount of lithium than was mined last year to meet demand by mid-century, driven by growth in energy storage and electric vehicles, according to new analysis from Benchmark Mineral Intelligence. Annual production of 11.2 Near-term, a total of 2.9
Renewable energy and nuclear power are the world’s fastest-growing energy sources, each increasing 2.5% Natural gas is the fastest-growing fossil fuel, as global supplies of tight gas, shale gas, and coalbed methane increase. The use of liquids declines in the other end-use sectors and for electric power generation.
Each colored stacked bar represents credits generated via low carbon fuels; the red line represents the deficits from forecasted CARBOB and ultra low sulfur diesel (ULSD) consumption. Apart from biofuels, increasing natural gas supplies and lower fuel pricing than diesel have renewed interest in natural gas in the transportation sector.
Demand segments include hydrogen as a fuel for fuel cells, in both transport and stationary applications (the power-to-transport and power-to-power vectors, respectively) and for energy storage (the power-to-gas vector).
Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. —Dr Fatih Birol, IEA Executive Director.
US oil production is the largest source of production growth in the forecast, but that growth remains uncertain because of relatively low capital investment from oil producers, EIA noted. EIA forecasts that the European benchmark Brent crude oil price will average less than $80 per barrel in 2024, more than 20% lower than in 2022.
Ranges of global technical potentials of renewable energy sources derived from studies analyzed in SRREN report. The authors reviewed more than 160 existing scientific scenarios on the possible penetration of renewables by 2050, alongside environmental and social implications; and then reviewed with four of these in-depth.
Driven by increasing population, urbanization and rising living standards, the world will require some 35% more energy in 2040, according to ExxonMobil’s annual forecast report: Outlook for Energy: A View to 2040. The growth reflects an expected 90% increase in electricity use, led by developing countries where 1.3 Click to enlarge.
Decarbonizing the economy to reduce greenhouse gas (GHG) emissions is one of the company’s priorities. In addition to having access to Québec’s vast water resources to generate green, renewable power at competitive prices, Hydro-Québec has everything it needs to support the development of green hydrogen. Renewable natural gas.
Ultimately, it contradicts the very concept of electric vehicles being an environmentally-friendly and climate-change-favorable type of transport, Nornickel said. Nornickel revised its forecast for a nickel market surplus in 2023 from 110 kt to more than 200 kt, with the bulk of this coming from low-grade nickel.
The Asia/Pacific region is forecast to experience the most growth in spending with a five-year CAGR of 33.7%. For the purposes of the report, Worldwide Utility Smart Grid Spending Forecast, 2010-2015 , IDC Energy Insights identified 14 smart grid project types to identify top investment priorities across regions.
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