momentum

The Clean Energy Transition Is Accelerating | Earth Wise

December 2, 2022 By EarthWise Leave a Comment

The world’s economies including its energy markets have been in turmoil in recent times but despite the chaotic conditions, the shift to clean energy is gaining momentum. This year, for the first time, the world is investing more in wind and solar power than in oil and gas drilling. Investments in renewables are expected to reach $494 billion this year, more than the $446 billion directed towards oil and gas extraction. It is rather sobering to realize that the world is still spending nearly half a trillion dollars a year to dig up more oil and gas.

According to the International Energy Agency, there will be an estimated 340 gigawatts of new renewable power capacity installed in 2022. This is roughly equal to the total installed power capacity of Japan, which has the world’s third-largest economy. This year is also seeing tremendous growth in electric cars, which are projected to make up 13% of all light-duty vehicle sales across the globe.

According to analysis by Bloomberg Green, 87 countries are now getting at least 5% of their power from wind and solar. This number is considered to be a critical tipping point at which emerging technologies become more widely adopted. The United States reached that 5% threshold in 2011. Last year, our country surpassed 20% solar and wind power. If we follow trends set by pioneering countries like Denmark, Ireland, and others, wind and solar will supply at least half of our power within the next decade.

Despite the turbulence in global energy markets, the shift to clean power is ongoing. Estimates are that global spending on renewables will double over the next 10 years.

**********

Web Links

Despite Turmoil in Energy Markets, the Shift to Clean Energy Is Gaining Steam

Photo, posted June 12, 2013, courtesy of Activ Solar via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio

Is U.S. Offshore Wind Finally Happening? | Earth Wise

March 26, 2021 By EarthWise Leave a Comment

Offshore wind capacity has been growing rapidly in recent years, especially in Europe and China. Globally, there is now more than 30 GW of offshore wind and industry experts predict that there will be well over 200 GW of installed capacity by 2030.

Meanwhile, the U.S. has only two small pilot projects, one with five turbines off Rhode Island and another with two turbines off Virginia. But after many years of battles with determined opponents, false starts, regulatory struggles, and other hurdles, the U.S. offshore wind industry appears to be poised to take off.

A combination of significant commitments by power companies to purchase offshore wind power, strong support by the Biden administration, and billions of dollars in investments is creating the new-found momentum.

New York, New Jersey, Virginia, Massachusetts, Connecticut, Rhode Island, and Maryland have collectively committed to buying 30 GW of offshore electricity by 2035. (That’s enough to power roughly 20 million homes).

Among the first major offshore installations to be completed in the next few years in the U.S. will be Vineyard Wind, 15 miles off of Martha’s Vineyard, another wind farm 60 miles east of New York’s Montauk Point, a third fifteen miles off Atlantic City, New Jersey, and a fourth off the Virginia Coast.

Offshore wind projects will create nearly 40,000 jobs just in the New York-New Jersey area over the next ten years. There is still some opposition from elements of the commercial fishing industry and from some coastal residents. However, with state and federal governments committed to reducing carbon emissions and rapidly reducing regulatory barriers, and with the price of offshore wind continuing to get lower and lower, most observers agree that the U.S. offshore wind industry is finally on the verge of really getting going.

**********

Web Links

On U.S. East Coast, Has Offshore Wind’s Moment Finally Arrived?

Photo, posted August 9, 2016, courtesy of Lars Plougmann via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio.

Energy Trends For A New Year

January 15, 2019 By EarthWise Leave a Comment

With a new year upon us, there are several energy trends to watch out for.

The most important one is that the fundamental shift toward slow-carbon technologies is continuing. This shift is taking place despite diminishing government policy support and even active government efforts to thwart it. There is just too much momentum to stand in the way of low-carbon energy technologies.

Analysts at Bloomberg New Energy Finance estimate that over the next 30 years over 11 trillion dollars will be invested in energy power generation and power storage assets with 85% of it aimed at zero-carbon emission. Dramatic reductions in green energy costs have resulted in legitimate cost competition between zero carbon sources of energy and fossil fuel generation.

In the coming year, battery technology will continue to play a growing role both as a storage medium for energy generated by sun and wind and for powering vehicles.

Another trend is that the world’s wealthiest economies are learning to grow without growing the demand for electricity. This is important in the battle to reduce overall emissions.

Another key issue is addressing the energy needs of people who have no meaningful access to it and there are around 1.5 billion people in that category. Emerging technologies based on solar power, wind energy, microgrids and other innovations mean that traditional power grids that remain out of reach to these people are not necessary. There is the potential to address those needs without contributing to climate change.

The world is struggling to deal with the growing problem of the changing climate, but there are trends that provide at least some hope that we can move in the right direction.

**********

Web Links

Top 3 clean energy trends to watch out for in 2019

Photo, posted April 5, 2013, courtesy of Flickr.

Earth Wise is a production of WAMC Northeast Public Radio.

U.S. Offshore Wind Powering Up

February 26, 2018 By EarthWise Leave a Comment

After many years of false starts and delays, the offshore wind industry in the U.S. finally seems to be gaining momentum. According to the Department of Energy, more than 25 offshore wind projects with a generating capacity of 24 gigawatts are now being planned. Most of these are off of the Northeast and Mid-Atlantic coasts.

Green Tech In 2018

January 25, 2018 By EarthWise Leave a Comment

Clean power gathered unprecedented momentum in 2017. With climate problems on the rise, national and local governments are pushing for more renewable energy and the end of fossil-fueled cars. Corporations around the globe are making major commitments to green technology. Despite the Trump Administration’s open hostility toward clean power and its rejection of climate science, American states, municipalities and private companies are all getting with the program.

[Read more…] about Green Tech In 2018