Energize Weekly, July 8, 2020 The novel coronavirus pandemic continues to torque and warp energy demand and markets in the U.S. from shifts in electricity demand to filling commercial oil storage to record levels. Electricity demand is projected by the U.S. Energy Information Administration (EIA) to be the lowest since 2009 – 998 billion kilowatt-hours – and 5 percent below
Energize Weekly, June 24, 2020 Energy jobs – from oil and gas rigs to rooftop solar installations – continue to plummet under the weight of low oil prices and the novel coronavirus pandemic. In May, 27,000 additional clean energy workers filed unemployment claims, bringing the total job loss in the sector to 621,000 since March, according to an analysis done
Energize Weekly, June 17, 2020 Renewable power’s continuing decline in prices is spurring near-term expansion, even in the face of the novel coronavirus pandemic and, according to a new report, could power 90 percent of the U.S. electric grid by 2035 while reducing wholesale electricity prices. The analysis by the University of California, Berkeley and GridLab, a non-profit promoting clean
Energize Weekly, June 10, 2020 Global prices for new renewable energy fell in 2018 for eight major types of electric generation, according to the International Renewable Energy Agency (IRENA). Costs between 2017 and 2018 dropped from as much as 26 percent for concentrating solar power (CSP) to 1 percent for geothermal and offshore wind. “Cost declines across the board in
Energize Weekly, June 3, 2020 Energy investment across the world has suffered an unparalleled 20 percent decline, equal to $400 billion, in 2020, as a result of the novel coronavirus pandemic, according to the International Energy Agency (IEA). The IEA had projected an increase of 2 percent in global energy investment for the year, which would have been the biggest
Energize Weekly, May 27, 2020 Electric vehicle (EV) sales are hitting a pandemic speed bump in 2020, but whether it’s a small bump, a big bump or a huge pothole depends on who is doing the forecasting. The projections for the year range from a modest 4.5 percent increase in sales over last year to a 43 percent drop in
Energize Weekly, May 20, 2020 Renewable electricity generation is set to surpass coal-fired generation in 2020, as coal continues to slide, having hit a 42-year low in 2019, according to the U.S. Energy Information Administration (EIA). The EIA is projecting a 25 percent drop in coal-fired generation in 2020 and an 11 percent increase in renewable generation, leading to renewables
Energize Weekly, May 13, 2020 A new front was opened last week in the battle between Tri-State Generation and Transmission Association and some of its electric cooperatives, as United Power, its largest member, filed a complaint in a Colorado district court charging subterfuge and breach of contract. Meanwhile on May 18, hearings will open at the Colorado Public Utilities Commission
Energize Weekly, May 6, 2020 In the face of the novel coronavirus pandemic, utilities and utility regulators are moving to postpone rate increases and guard against service shutdowns for customers as most states continue to impose stay-at-home orders for their residents. The moves are also creating some financial risk and uncertainties for utilities, according to industry analysts. Regulatory commissions in
Energize Weekly, April 29, 2020 Wind power led in electricity generation installations in 2019, and this year is showing signs of becoming a bigger source of energy, according to several studies. Still, uncertainty about the economy and supply chains as a result of the COVID-19 pandemic is making the sector’s future uncertain. In 2019, the electric power sector installed 23
Energize Weekly, April 22, 2020 Pandemic and recession are rippling through almost every corner of the energy sector from oil companies to wind, solar and energy storage manufacturers. “Over half the world’s population is now under lockdown, as demand for power drops and the risk of global recession grows,” according energy consultant Wood Mackenzie. “A ‘return to normal’ will be
Energize Weekly, April 15, 2020 The impact of the novel coronavirus pandemic on electricity demand in the U.S. and on the utility industry is becoming clearer with lower loads, changing peak demands, more emphasis on renewable generation and emerging financial risks. U.S. power usage is set to drop more steeply in 2020 than in any year at least over the
Energize Weekly, April 8, 2020 Faced with the risk of not being able to meet the rigorous staffing requirement for operating nuclear power plants during the ongoing pandemic, the Nuclear Regulatory Commission (NRC) said it is prepared to grant exemptions from work-hour controls. The NRC in a March 28 letter to the industry trade group, the Nuclear Energy Institute (NEI),
Energize Weekly, April 1, 2020 The closing of businesses and sheltering-in-place of millions of citizens to tamp down the novel coronavirus pandemic is dampening demand for electricity, even as utilities across the country put in place emergency plans to keep electrons flowing through the grid. Between March 14 and March 24, daily peak demand was down between 2.2 percent to
Energize Weekly, March 25, 2020 The solar industry has caught a case of the coronavirus with the symptoms being a supply chain slowdown and a drop in demand for solar projects. With China manufacturing 70 percent of the world’s solar panels, the emergence of the disease there and the aggressive steps to shut down social interactions including factory work was
Energize Weekly, March 4, 2020 Time-of-use electricity rates are increasingly being seen as a valuable tool in reducing peak demand and managing renewable energy generation – but concerns are being voiced over their impact on low-income and elderly customers. Xcel Energy is seeking to shift all of its 1.2 million Colorado residential customers to summer time-of-use rates and the move
Energize Weekly, February 26, 2020 The Virginia legislature, on a pair of razor-thin votes, has passed a sweeping energy bill that will bolster renewable generation, energy storage and efforts to set a carbon dioxide cap and trade program. While the Clean Economy Act was the most far-reaching and visible piece of energy legislation at the state legislature this session it
Energize Weekly, February 19, 2020 Global carbon emissions slowed in 2019 after two years of growth as increases in developing nations were offset by a sharp drop in power sector emissions in developed countries led by the U.S., according to the International Energy Agency (IEA). The worldwide emissions of carbon dioxide in 2019 were 33 gigatons, a 1.3 percent drop
Energize Weekly, February 12, 2020 New York State energy officials have filed a petition with state regulators to begin the process to develop 1 gigawatt (GW) to 2.5 GW of new offshore wind projects. This follows on the award in July 2019 of two contracts for 1.7 GW in offshore project – Equinor Wind’s 816-megawatt Empire Wind Project and the
Energize Weekly, February 12, 2020 New York City Mayor Bill de Blasio is taking aim at fossil fuels seeking to end the use of natural gas and oil in large buildings and banning the development of oil and gas infrastructure in the city. Other initiatives include switching the municipal feet to electric vehicles and increasing rooftop solar in the city.
Energize Weekly, February 12, 2020 Renewables are set to overtake both coal-fired and nuclear generation by 2021 and natural gas-fired generation by 2045, according to the U.S. Energy Information Administration (EIA). Wind and solar are leading the surge in renewable generation, which EIA says will account for 21 percent of the total electricity in 2021, while nuclear makes up 19
Energize Weekly, February 12, 2020 Evergy Inc., which serves Kansas and Missouri, has set a goal of reducing its carbon emissions by 80 percent from 2005 levels by 2050 and announced plans to add 660 megawatts (MW) of wind power. The company said that it will reach a 40 percent reduction in emissions from the 2005 benchmark by 2020 and
Energize Weekly, February 12, 2020 New York State’s last coal-fired power plant is set to close as early as mid-March and coal-fired power is headed in the same direction in New England, according to the U.S. Energy Information Administration (EIA). “As many of the coal-fired power plants in New England and New York have either retired or switched fuels, the
Energize Weekly, February 5, 2020 The U.S. wind industry finished 2019 in a flurry with the busiest fourth quarter on record as 5,476 megawatts (MW) of capacity were installed, according to the American Wind Energy Association (AWEA). The late push made 2019 the third busiest year for wind turbine installations – 9,143 MW. There were 35 projects in 16 states
Energize Weekly, February 5, 2020 Corporations purchased a record 19.5 gigawatts (GW) of clean energy contracts in 2019, a 40 percent increase over 2019, according to Bloomberg New Energy Finance (BNEF). Contracts, primarily power purchase agreements (PPAs), were signed by more than 100 companies in 23 different countries, marking a three-fold increase from 2017. “Corporations have purchased over 50 GW
Energize Weekly, February 5, 2020 The New York State Common Retirement Fund – the third largest public pension plan in the country – said it may divest from any of the 27 thermal coal companies in its portfolio which it deems are not taking steps to “transition to a sustainable business model.” “Investors who fail to face the risks and
Energize Weekly, February 5, 2020 U.S. coal-fired power plants – facing economic and operational pressures – are running with more shutdowns and startups, which are less economical and more wearing on equipment, according to a study by the National Association of Regulatory Utility Commissioners (NARUC). The study said increases in “cycling” of coal plants as well as faster changes in
Energize Weekly, January 29, 2020 India is moving to the top as an emerging-market destination for clean energy investment, followed by Chile and Brazil, while China, long the biggest market, slips to fourth, according to an analysis by Bloomberg New Energy Finance (BNEF). Bloomberg’s Climatescope evaluated countries based on market and policy fundamentals, experience with green investment and opportunities. India
Energize Weekly, January 29, 2020 From heat to humidity to severe storms investor-owned utilities across the U.S. will face particular regional climate change hazards, according to an analysis by Moody’s Investors Services. A utility in the Southeast, such as Duke Energy, could face risk from heavier storms, floods and storm surges that could threaten plant operations and coal ash piles.
Energize Weekly, January 29, 2020 The oil and gas industry needs to be major player in the global transition to cleaner energy, in part to maintain its social license to operate, but barely 1 percent of its capital investment is going to alternative technologies, according to the International Energy Agency (IEA). “The transformation of the energy sector can happen without
Energize Weekly, January 29, 2020 Annual investment in U.S. offshore wind – based on projects in the pipeline – could reach $15 billion by the mid-2020s, surpassing offshore oil and gas capital expenditures, according to Rystad Energy. Rystad Energy, an Oslo-based energy consultant, called the trend “a truly remarkable development.” There are 6.4 gigawatts (GW) of offshore wind projects that
Energize Weekly, January 22, 2020 U.S. renewable energy investment surged in 2019 to a record $55.5 billion, a 28 percent year-on-year increase, helping global renewable energy investment post a modest 1 percent rise to $282.2 billion, according to Bloomberg New Energy Finance (BNEF). Investment in China, the world’s largest renewable energy market, was down 8 percent to $83.4 billion, the
Energize Weekly, January 22, 2020 After robust growth in the last few years, natural gas-fired electricity generation and new natural gas-fired capacity growth will be modest in 2020, according to an Energy Information Administration (EIA) analysis. The EIA projects generation from natural gas-fired plants will grow by 1.3 percent in 2020, the slowest rate since 2017. At the same time,
Energize Weekly, January 22, 2020 Tri-State Generation and Transmission Association, the wholesale power provider for 43 Western electric cooperatives, said it will add 1 gigawatt (GW) of solar generation and open the way for its co-ops to add more of their own renewables. Under Tri-State’s “Responsible Energy Plan,” the association aims to reach 50 percent renewable energy generation by 2024,
Energize Weekly, January 22, 2020 The aging U.S. electrical grid is facing challenges from just-in-time natural gas plant fueling and a growing demand for renewable generation, which it will not be able to meet without new investment and policies, according to a study by business consultant ScottMadden Inc. “The grid is undergoing a shift in its generation mix,” the report,
Energize Weekly, January 15, 2020 In 2019, three European countries – Denmark, Germany and Spain –were all closing in on getting 50 percent of their electricity from renewable sources. Wind power provided more than 47 percent of the electricity in Denmark, and solar bumped the total from renewable sources to 50 percent, according to Energinet, the Danish national transmission system
Energize Weekly, January 15, 2020 Vestas, the world’s top wind turbine manufacturer, has set a target of becoming carbon neutral in its operations by 2030 and to push for carbon reduction across its supply chain. Aarhus, Denmark-based Vestas said that it will reduce its carbon footprint by 55 percent by 2025 and 100 percent by 2030. The company said that
Energize Weekly, January 15, 2020 Under pressure from market forces, dissatisfied members and environmental policies, the Tri-State Generation and Transmission Association announced it will close the last two coal-fired plants it operates and move to add more renewable energy. Tri-State said that it will close its Escalante Station, in Prewitt, N.M., by the end of 2020, and two units at
Energize Weekly, January 15, 2020 The burgeoning U.S. oil and gas and petrochemical sectors are set to add greenhouse gas emissions over the next five years – even as they decline for the power sector, according to two analysis of the country’s emissions. In 2019, U.S. greenhouse gas emissions fell 2.1 percent, a decline almost entirely due to a record
Energize Weekly, January 8, 2020 Global energy consumption is projected to grow 50 percent between 2018 and 2050, spurred by a rising demand for energy in Asia and a sharp growth in electricity as a key energy source, according to the U.S. Energy Information Administration (EIA). In its annual International Energy Outlook, the EIA projects energy consumption reaching more than
Energize Weekly, January 8, 2020 The Hartford Financial Services Group said it will no longer insure or invest in companies mining or using coal or developing tar sands oil over concerns about risks linked to climate change. The company, based in Hartford, Conn., said it would not deal with companies that get 25 percent of their revenue from mining thermal
Energize Weekly, January 8, 2020 Global coal demand in 2019 dropped, driven by coal-fired plant retirements in Europe and the U.S., but should be stable over the next five years due to growth in China and Asia, according to the International Energy Agency (IEA). The outlook for coal in the U.S. over the next five years is of continued reductions
Energize Weekly, December 18, 2019 Onshore wind generating capacity in the U.S. reached 100 gigawatts (GW) at the end of September 2019, according to the federal Energy Information Administration (EIA). More than half the capacity has been installed since 2012. The oldest wind turbines still operating in the U.S. date back to 1975. Forty-one states had at least one installed
Energize Weekly, December 18, 2019 NorthWestern Energy is set to file an application with the Montana Public Service Commission to purchase Puget Sound Energy’s share of the Colstrip power plant for $1. The deal helps Bellevue, Washington-based Puget Sound Energy meet a Washington state law requiring utilities to stop using coal-fired power by 2025, and it provides Sioux Fall, S.D.-based
Energize Weekly, December 11, 2019 The Trump administration’s tariffs on solar cells has blunted the growth in jobs, investment and generating capacity, according to a report by the Solar Energy Industries Association (SEIA). The analysis calculated that the industry has forgone 62,000 jobs, $19 billion in lost investment and missed building 10.5 gigawatts of new capacity. The SEIA report was
Energize Weekly, December 11,2019 NV Energy has received the go-ahead from Nevada state regulators for 1,190 megawatts (MW) of new solar renewable energy twinned with 590 MW of energy storage. The new capacity – solar and storage – will be in three projects located in southern Nevada and are set to be in operation by 2024, the company said. The
Energize Weekly, December 11, 2019 The U.S. has seen more than a fifth of its coal-fired generating capacity closed since 2011, and plants with higher operating costs were more vulnerable to closures, according to the federal Energy Information Administration (EIA). Between 2011 and the end of 2017, the total coal-fired generating capacity in the U.S. dropped to 257 gigwatts (GW)
Energize Weekly, December 11, 2019 Nearly 700 companies around the world are moving to adopt “science-based targets” for reducing their greenhouse gas emissions with 40 percent already having plans in place, according to the non-profit and governmental groups sponsoring the initiative. The Science Based Targets initiative (SBTi) – a collaboration among the charity CDP, the United Nations Global Compact, the
Energize Weekly, December 4, 2019 Clean energy investment in developing countries dropped by more than 20 percent in 2018 to $133 billion, while coal-fired generation surged, according to a Bloomberg New Energy Finance (BNEF) survey. “Both suggest that despite considerable recent progress, developing countries’ power sector CO2 emissions are rising rapidly,” BNEF’s annual Climatescope report said. A total of 107
Energize Weekly, December 4, 2019 In an effort to avoid a court condemnation proceeding, Boulder, Colo., which wants to create its own municipal utility, upped its offer for the purchase of Xcel Energy’s infrastructure to $94 million. It is the third offer the city has made to Xcel, which currently serves Boulder, and it is a 15 percent increase over
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