Energy Update
Europe can potentially generate 100 times the current amount of energy generated, and produce enough power to power the world until 2050, if it were to maximize land use for onshore wind capacity.
Energy Vault, the creator of a new way to perform utility-scale energy storage, announced that SoftBank Vision Fund (Vision Fund) invested $110 million in its Series B funding round. Energy Vault will use the funds to accelerate global deployment of its technology, which enables renewables to deliver baseload power for less than the cost of fossil fuels 24 hours a day, said the company.
The renewable energy transition promises to reduce carbon emissions, but it’s happening at different speeds around the world. Read on for some key insights from BloombergNEF’s New Energy Outlook 2019, which provides a detailed road map to the future.
The Australian Renewable Energy Agency (ARENA), on behalf of the Australian government, has announced up to $40 million in funding towards the deployment of a pumped hydro energy storage (PHES) project in South Australia.
A new battery made from affordable and durable materials generates energy from places where salt and fresh waters mingle. The technology could make coastal wastewater treatment plants energy-independent and carbon neutral.
The UK’s North West Hydrogen Alliance (NWHA) is calling for government investment in hydrogen projects to meet ambitious carbon reductions targets in Britain.
When two U.K. power plants shut down almost simultaneously in London’s first major blackout for a decade, it triggered a storm of questions about how to avoid another failure.
The electric utility industry has been buffeted by two recent trends that threaten to upend the profitability, and in some cases the future viability of, those companies that are slow to adapt to a new, rapidly changing landscape. Specifically, in the past decade, the industry has had to grapple with both waning demand and the growth of distributed energy generation.
It may be time to start building power plants in Texas again.
Many of us are somewhat familiar with what an electric utility does. Our house receives electricity, and we get a bill in the mail each month for it. Here in North Carolina, that bill is likely coming from Duke Energy. In other parts of the country it may be PG&E or Dominion Power.
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