Wind turbines are getting bigger as developers seek greater efficiency.
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Demand for electric cars is soaring — including for pre-owned models — but inventory remains low.
Quote of the Week:
“I’m kind of surprised and encouraged that the solutions to the long-duration energy-storage problem could be the caveman stuff,” said Jason Craig, COO of the energy storage startup Quidnet. “[T]he solutions may be picking up heavy stuff with cranes, picking up the earth with a hydraulic jack… Like, Fred Flintstone would be comfortable with most of this stuff. It could be the way.”
CLEAN ENERGY
Must Be Equitable
Salton Sea lithium rush raises equity questions. California’s Salton Sea has become a prime target for new lithium production as demand for clean energy minerals rises. Communities surrounding the Salton Sea are in need of new investment and, while some local leaders see the lithium boom as a much-needed economic boost, others are concerned that few benefits will actually flow to their community. The newly-authorized Lithium Valley Commission is gathering information about lithium extraction and how it could affect the region, though public engagement has been limited and is not a required part of the process.(Capital & Main)
CLEAN ENERGY
Is Replacing Fossil Fuels
Cornucopia of clean energy storage solutions under development. Energy storage has taken on new importance as the world accelerates the transition to clean energy, and a new generation of energy storage technologies are currently under development as the industry looks beyond conventional lithium batteries. From new variations on traditional storage solutions like pumped hydropower to novel methods like thermal storage, gravity storage, liquid-air, and flow batteries, a variety of energy storage startups are gathering major private investment and state support as they work to scale up and commercialize their technologies. Developers hope that their products could provide higher volume, longer-lasting, and cheaper storage solutions, and help ensure long-term grid stability.(The New Yorker $)
California could sell only EVs by 2035. Under a new proposal from California’s clean air regulator, zero-emissions cars would make up 35 percent of new passenger vehicle sales by 2026, 68 percent by 2030, and 100 percent by 2035. The plan would bring the state in line with Governor Newsom’s 2020 executive order calling for the state to only sell zero-emissions vehicles by 2035. California’s electric car and truck market leads the country, where electric models represented 12.4 percent of all vehicle sales in 2021. The proposal is significant for state and national climate targets, since transportation represents 40 percent of California’s climate pollution. (CNBC)
California ran on nearly 100 percent clean energy, as the U.S. plans to expand renewable energy. California set a new record for renewable energy on April 3rd, with its grid running on more than 97 percent renewable electricity — up from a previous record of 96.4 percent at the end of March. While the record highs were brief because of the variability of wind and solar power, they demonstrate the viability of renewable energy sources as grid inputs. Meanwhile, the majority of new planned U.S. power generation capacity will be tied to renewable energy sources, according to analysis from S&P Global. Of nearly 88 gigawatts of new generation and storage capacity planned for this year, about 41 gigawatts will come from solar power while nearly 20 gigawatts will come from wind projects. (Bloomberg $, S&P Global)
CLEAN ENERGY
Is a Good Investment
As demand for wind energy grows, so do the size of turbines. The taller the turbine, the more energy it is expected to produce since winds generally increase at higher altitudes, and larger rotors and blades can capture more wind. Bigger blades can also improve efficiency, but face logistical and infrastructure challenges related to installation and maintenance.Turbines larger than 8 megawatts were just 3 percent of global installations between 2010 and 2021, but are expected to jump to 53 percent of wind installations by 2030. (CNBC)
Secondhand EV market heats up amid soaring demand. High gas prices and a global chip shortage are pushing demand for electric cars and trucks to record highs — but supply remains limited. Ford stopped taking reservations for it’s electric Mach-E, and pre-owned electric models are selling for more than their original sticker prices because of the overwhelming demand. Global EV sales jumped 120 percent in the first quarter of 2021, and used car seller Carvana reports that 90 percent of its electric cars are in the process of being purchased — up from just 45 percent a month ago. (WIRED, Reuters)
CLEAN ENERGY
Is Challenging
Clean energy struggles to attract investment. While clean energy developers are desperate for new funding streams, investors have been busy pouring money into Web3: in 2021, venture capitalists invested $11.9 billion in renewable energy globally, compared with $30.1 billion in cryptocurrency and blockchain. Many clean energy startups secured early investment to kickstart their technologies, but funding needs to scale up as technologies get closer to commercialization. Investors have been reluctant to provide that funding, and are instead looking instead to less capital-intensive investments promising quicker returns.(New York Times $)
