“Today [global investment in clean energy is] about 1.3 trillion U.S. dollars and it will go up to about 2 trillion U.S. dollars,” said Fatih Birol, Executive Director of the International Energy Agency. “[A]s a result, we are going to see clean energy, electric cars, solar, hydrogen, nuclear power, slowly but surely, replacing fossil fuels. And why do governments do that? Because of climate change, because of the greenness of the issues? Not at all. The main reason here is energy security… Energy security concerns, climate commitments … industrial policies — the three of them coming together is a very powerful combination.”
CLEAN ENERGY
Must Be Equitable
EVs are a money-saver for most, but low-income households could get left behind. Switching to an electric car offers economic benefits for roughly 90 percent of U.S. drivers, according to a new study from the University of Michigan — but the bottom 10 percent would still be burdened by high transportation costs. The challenges are especially acute in Midwestern states, where high electricity costs and fossil fuel-dominated grids reduce some of the cost and emissions savings from EV adoption. The researchers say more programs, especially at the regional level, to help low-income drivers switch to cleaner vehicles are critical to widespread EV adoption. (Grist)
CLEAN ENERGY
Is A Good Investment
IEA heralds a ‘new industrial age’ for clean energy. A new report from the International Energy Agency predicts the world is on the cusp of a revolution in clean energy development, forecasting $650 billion of investment every year in the clean energy sector through 2030. That’s more than three times today’s spending, and is expected to generate up to 14 million jobs this decade. The report notes these projections hinge on countries meeting clean energy and climate pledges, and on diversifying supply chains for clean energy technologies. (CNBC)
U.S. offshore wind had a strong 2022. The domestic offshore wind sector ramped up in the last quarter of 2022, with key port investments and the first-ever federal offshore wind lease sale on the West Coast. Lease sales on both coasts brought in over $5 billion in federal revenue last year, and federal officials are looking into another potential lease sale in the Gulf of Mexico. While analysts at the Business Network for Offshore Wind say the industry remains on solid footing, they warn that headwinds like inflation and supply chain constraints could create challenges. (The Hill)
CLEAN ENERGY
Is Replacing Fossil Fuels
1 in 10 cars sold last year was electric. EVs are continuing their rise in global auto markets as all-electric cars and trucks achieved double-digit market share for the first time in history last year. With especially strong sales in Europe and China, the EV sector has become an important area of growth as the wider auto market lags. Global EV sales in 2022 rose 68 percent from 2021, accounting for roughly 6 percent of car sales in the U.S., 11 percent in Europe, and 19 percent in China. (Wall Street Journal $)
For solar panels, more research = more efficiency. A study on photovoltaic efficiency concluded that the secret ingredient to better solar panels is effort. The analysis finds that the more research published about a particular material or type of solar cell, the greater the efficiency increases will be for those technologies. So while some solar cells that employ newer technologies may have lower efficiency at the moment, they could see significant improvement with more research support. (Inside Climate News)
Wind turbine recycling is scaling up. Wind energy is covering nearly 60 percent of Iowa’s energy needs — the largest share in the nation — and a startup is working to ensure those turbines don’t end up in landfills when they’re decommissioned. REGEN Fiber is building a recycling facility near Cedar Rapids that will turn old turbine blades into fiber for asphalt and other products. The company expects to begin commercial-scale operations later this year and recycle over 30,000 tons of shredded blades every year. (Des Moines Register)
CLEAN ENERGY
Is Challenging
U.S. trade policy hits solar industry. A U.S. crackdown on solar panels imported from China is creating waves across the domestic solar industry, as Customs and Border Protection officials have seized nearly $1.3 billion of solar technology imports since June. The policy is meant to withhold U.S. support for Chinese supply chains that could rely on forced labor in Xinjiang province, but has effectively halted large-scale solar projects within the U.S. Industry advocates say the trade policy is significantly raising prices on solar technologies and holding back U.S. solar deployments, but federal officials say they expect the number of seizures to begin dropping as the industry figures out what it can import without violating the policy. (Axios)
MULTIMEDIA
Map: U.S. Battery Supply Chain Investments Since Biden Took Office
