Energy Update
Deployment of energy storage, especially batteries, will increase substantially in the next few years. Three underlying trends in the energy markets will drive the growth. They are favorable federal and state regulations on energy storage, falling costs for batteries due to advances in technologies, and an improved ability by energy storage owners to tap into multiple revenue streams.
(Thu, 11 Jan 2018) EIA's January <em>Short-Term Energy Outlook</em> forecasts Brent crude oil to average $60 per barrel (b) in 2018 and $61/b in 2019, slightly higher than the $54/b average in 2017. In both 2018 and 2019, EIA expects total global crude oil production to be slightly greater than global consumption, with U.S. crude oil production increasing more than any other country.
ADES International (ADES) said that it has extended two existing contracts for Admarine II, Admarine IV and renewed its lease for Admarine VI, all of which are in the Gulf of Suez area.
It is evident from industry events these days that shipping is often either way down the agenda or overlooked completely. Alex Younevitch, managing editor for EMEA freight markets at S&P Global Platts, elaborates.
SolarReserve’s 150-MW solar thermal power plant has been granted development approval by the South Australian Government, paving the way for construction to begin this year.
India, the largest importer of Chinese solar equipment, proposed a 70 percent safeguard duty on cells and modules shipped from China and Malaysia, citing “threat of serious injury” to the domestic industry.
Citing changes in the energy market, utility regulators in Maine have delayed a decision for a power contract that would allow development to move forward on a 12-MW floating wind farm in Maine waters.
(Wed, 10 Jan 2018) Once final data are in, EIA expects about 25 gigawatts (GW) of new utility-scale electric generating capacity to have been added to the power grid during 2017, nearly half of which use renewable technologies, especially wind and solar. Another 3.5 GW of small-scale solar net capacity additions are estimated to have come online in 2017.
The government of Victoria, Australia, recently completed an agreement that supports the development of a wind plus storage facility for a crop farm in Western Victoria.
Tesla Inc. has kicked off production of its long-awaited electricity-producing shingles that Elon Musk says will transform the rooftop solar industry.
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