By - Jim Vess

Massachusetts energy agency calls for another 1,600 MW of offshore wind, doubling state’s target

Energize Weekly, June 12, 2019 Massachusetts energy officials have proposed doubling the state’s offshore wind capacity by adding another 1,600 megawatts (MW) by 2030. The state has already awarded one 800-MW offshore project and is set to select another 800-MW project in the fall. After an economic analysis and a review with stakeholders, the Massachusetts Department of Energy Resources (DOER)

By - Jim Vess

Horizontal drilling is key to nearly all oil and gas production from tight formations in 2018

Energize Weekly, June 12, 2019 Horizontal wells accounted for 96 percent of the oil production from tight geological formations, such as shale, in 2018, up from 15 percent in 2004, according to data from the federal Energy Information Administration (EIA). The horizontal wells, with laterals that can run two miles or more underground, also accounted for 97 percent of natural

By - Jim Vess

U.S. energy storage installations set a record in the first quarter of 2019

Energize Weekly, June 12, 2019 U.S. energy storage installations hit a quarterly record in the first three months of 2019 with 148.8 megawatts (MW) of new capacity, according to a market report by Wood Mackenzie Power & Renewables and the Energy Storage Association (ESA). The first quarter of 2019 installations were 6 percent higher than the last quarter of 2018

By - Jim Vess

Mitsubishi Hitachi seeks to build world’s largest energy storage facility in Utah

Energize Weekly, June 12, 2019 Mitsubishi Hitachi Power Systems (MPHS) and Magnum Development announced a plan at the end of May to develop the world’s biggest clean energy storage facility – 1,000 megawatts – using a range of technologies and salt caverns in Utah. The aim is to provide energy storage for the Western power grid, but critics have already

By - Jim Vess

Many clean generating technologies lagging in their deployment rates, the IEA says

Energize Weekly, June 12, 2019 While the deployment of carbon-free electricity generation advanced in 2018, many key technologies are lagging in the pace needed to reach international goals, according to the International Energy Agency (IEA). “The world is currently not on track to meet the main energy-related components of the Sustainable Development Goals agreed on by 193 countries in 2015,”

By - Jim Vess

Global wind turbine orders set a new record in the first quarter of 2019

Energize Weekly, June 5, 2019 Global wind-turbine orders were up 7 percent year-on-year in the first quarter of 2019, an 875-megawatt (MW) increase—breaking the record set in the first quarter of 2018, according to Wood Mackenzie Power & Renewables. The Wood Mackenzie market report found that strong orders from China and the Americas more than offset a nearly 20 percent decrease from 2018

By - Jim Vess

Refiners to invest $570 billion as they face a host of global uncertainties

Energize Weekly, June 5, 2019 More than $570 billion in new global oil refining investments are set to be made by 2025, raising total capacity by 15 percent to 116 million barrels a day, according to Bloomberg New Energy Finance (BNEF). About 75 percent of the new capacity will be in the Asia-Pacific region and the Middle East, with two-thirds

By - Jim Vess

Shale drillers continue to “burn cash” in the Q1 of 2019 as they face negative cash flow

Energize Weekly, June 5, 2019 U.S. shale oil drillers continue to “burn cash” as they operate with negative cash flows, and while bankruptcies in the sector have cooled with the rebound in oil prices, risks still remain, according to industry analyses. An analysis of 40 shale companies by Oslo, Norway-based Rystad Energy, an independent energy consultant, found that in the

By - Jim Vess

Tri-State G&T rejects $500 million offer to replace coal-fired power plants with renewables

Energize Weekly, June 5, 2019 The Tri-State Generation and Transmission Association has rejected a multi-million dollar offer by Guzman Energy to buy three of Tri-State’s coal-fired plants, close them down and supply the association with electricity from a generation mix heavily tilted toward renewables. Guzman, a Miami-based energy contractor and consultant, contends that the deal—valued around $500 million—would allow Tri-State

By - Jim Vess

Global costs for renewables fell across the board in 2018, IRENA says

Energize Weekly, June 5, 2019 Global costs 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

By - Jim Vess

Small hydropower projects to add 330 MW of capacity in the next few years

Energize Weekly, May 29, 2019 Projects across the country are set to tap into the potential hydropower of dams not currently generating electricity with 32 dams in 12 states slated to add a total of 330 megawatts (MW) of generating capacity, according to the federal Energy Information Administration (EIA). There are more than 90,000 dams in the U.S., but only

By - Jim Vess

U.S. oil production seen as a moderating force in coping with oil market price volatility

Energize Weekly, May 29, 2019 As costs come down for producing oil from shale plays, U.S. production appears to be playing a larger role in anchoring long-term oil prices, according to a Federal Reserve Bank of Dallas analysis. The combination of shorter lead times between drilling and production and the falling break-even price—the price at which it is profitable to

By - Jim Vess

Global energy investment, after a three-year slide, stabilized in 2018, the IEA says

Energize Weekly, May 29, 2019 After a three-year slide, global energy investment stabilized in 2018 at just more than $1.8 trillion dollars—as spending on oil, natural gas and coal increased, the International Energy Agency (IEA) said. Investments in renewable generation and energy efficiency, however, stalled in 2018, according to the IEA’s World Energy Investment 2019 report. There was a 4

By - Jim Vess

Xcel Energy agrees to close three coal-fired units in Minnesota ahead of schedule

Energize Weekly, May 29, 2019 Xcel Energy reached a settlement with a group of clean energy and labor organizations to close two Minnesota coal-fired power plants and clear the way for it to buy a natural gas-fired plant. Under the agreement signed May 20, Xcel will shutter the 511-megawatt (MW) Allen S. King coal plant in Bayport, Minn., by 2028.

By - Jim Vess

U.S. solar PV market tops two million installations in 2019

Energize Weekly, May 22, 2019 Photovoltaic (PV) solar installation in the U.S. hit two million in 2019, according to data from the market analysis consultant Wood Mackenzie Power & Renewables and the Solar Energy Industries Association (SEIA). It took nearly 40 years to reach the one-million-installation mark in 2016 and just three years to double it. Wood Mackenzie forecasts the

By - Jim Vess

U.S. utility industry coal consumption set to fall to lowest level in 40 years in 2019

Energize Weekly, May 22, 2019 The U.S. power sector is forecast to consume about 555 million short tons of coal to produce electricity in 2019—the lowest amount since 1979, according to the federal Energy Information Administration (EIA). Coal will still be the second-largest source of generation in 2019, providing 996 million megawatt-hours (MWh) of electricity—24 percent of the total. Natural

By - Jim Vess

Retired coal-fired power plant site to be turned into $650 million transmission facility for offshore wind

Energize Weekly, May 22, 2019 The site of a former Massachusetts coal-fired power plant is slated to be turned into a $650 million relay for electricity produced offshore, according to energy developer Anbaric. The Anbaric Renewable Energy Center, built on the site of the old Brayton Point power plant in Somerset, will have a 1,200-megawatt (MW), high-voltage, direct-current (HDVC) converter

By - Jim Vess

Wind developers rush to get project in the pipeline before federal tax credits end in 2020

Energize Weekly, May 22, 2019 Wind farm projects are forecast to swell in 2019 as developers look to get their projects in the pipeline before federal tax credits vanish, according to the federal Energy Information Administration (EIA). The EIA is projecting that wind projects will double over 2017 to 12.7 gigawatts (GW) of capacity in 2018, making the second biggest

By - Jim Vess

Oil market hit by uncertainties and slow growth, LNG global market faces an imbalance

Energize Weekly, May 22, 2019 The oil market is being roiled by production cuts, political sanctions, slow economic growth and political uncertainty, leading to a market of “mixed signals,” according to the International Energy Agency (IEA). The global market for another key petroleum product, liquefied natural gas (LNG), also looks to be out of balance and subject to geopolitical uncertainties,

By - Jim Vess

Global renewable energy generation additions stalled in 2018 for the first time in 17 years

Energize Weekly, May 15, 2019 The nearly two-decade, year-on-year growth in global renewable energy generating capacity stalled in 2018, according to the International Energy Agency (IEA). The 180 gigawatts (GW) of generating capacity—in wind, photovoltaic (PV) solar, hydro, bioenergy and other renewable sources—added in 2018 was about the same as in 2017. It was the first time there wasn’t a

By - Jim Vess

Oil demand will see a shift with transportation using less and petrochemicals using more, Barclays says

Energize Weekly, May 15, 2019 Global oil demand—under current economic and energy development trends—is projected to peak between 2030 and 2035 and then plateau through 2050, according to a new analysis by the London-based investment bank, Barclays. That peak could come as early as 2025 if more aggressive energy policies highlighting renewable power and energy efficiency are implemented, the analysis

By - Jim Vess

Electricity demand to be down this summer, coal’s share expected to drop, EIA says

Energize Weekly, May 15, 2019 Summer electricity generation in 2019 is forecast to be down 2 percent from last summer to 1,168 million megawatt-hours (MWh) with a sharp drop in how much of that power is provided by coal-fired plants. The energy mix for the summer highlights the ongoing shift in the generating portfolio with coal dropping 3 percent since

By - Jim Vess

Global utility M&A lags in Q1 of 2019 with renewable energy deals a bright spot

Energize Weekly, May 15, 2019 Power and utility sector mergers and acquisitions worldwide dropped to their lowest level since 2012 in the first quarter of 2019, but industry executives remain positive about deals for the year, according to a survey by Ernst & Young (E&Y). The value of first-quarter deals was $20.6 billion, down 80 percent from the record $97

By - Jim Vess

Biodiesel fuels claiming a bigger share of U.S. soybean oil production

Energize Weekly, May 15, 2019 As the soybean market is roiled by trade disputes between the U.S. and China, the domestic biodiesel fuel industry is taking an increasing share of the country’s soybean oil production, according to federal Energy Information Administration (EIA) data. Biodiesel production absorbed 30 percent of domestic soybean oil, or 7.1 billion pounds, from Oct. 1, 2017,

By - Jim Vess

Renewable generation set to surpass coal-fired generation for April and May

Energize Weekly, May 8, 2019 Renewable energy generation in April and May will put more electricity on the gird than coal-fired power plants, according to the federal Energy Information Administration (EIA). It is the first time on record that renewable power sources—hydro, biomass, wind, solar and geothermal—have surpassed coal-fired generation, the Institute for Energy Economics and Financial Analysis (IEEFA) said.

By - Jim Vess

The crossover point when EVs are cheaper than ICE cars is getting closer, BNEF says

Energize Weekly, May 8, 2019 The “crossover point” when electric vehicles (EVs) are cheaper than their internal-combustion-engine (ICE) counterparts continues to get closer with falling battery costs, according to Bloomberg New Energy Finance (BNEF). In a 2017 BNEF analysis, the crossover point was forecast as 2026. In 2018, the crossover point had moved two years closer to 2024. In the

By - Jim Vess

Texas Renewable Energy Co-op gets wholesale bids at less than 3 cents a kilowatt-hour

Energize Weekly, May 8, 2019 The Texas Renewable Energy Co-op (TREC) has received wholesale electricity bids for less than 3 cents a kilowatt-hour on 12-year contracts for its public non-profit participants, such as municipal and state agencies. The bidding process was managed by the Texas Energy Aggregation (TEA), which was created in 2002 to improve market power for universities, cities,

By - Jim Vess

Montana legislative effort to prop up the coal-fired Colstrip power plant stalls

Energize Weekly, May 8, 2019 Last-minute efforts to bail out the Colstrip coal-fired power plant and keep it running stalled in the Montana legislature as the session ended April 26. The Colstrip bill was defeated in the Montana House of Representatives April 16 on a 60-to-37 vote. The Republican sponsors then tried to find a home for elements of the

By - Jim Vess

MidAmerican Energy sets one-day record for wind energy, covers all of retail demand

Energize Weekly, May 8, 2019 MidAmerican Energy hit a one-day record for wind generation in April, producing enough electricity to serve 100 percent of its retail customers’ needs with renewable energy. The Des Moines-based utility—which serves 783,000 electric customers in Iowa, South Dakota and Illinois—generated 11,500 megawatt-hours (MWh) on April 10, 8.5 percent better than its previous record for wind

By - Jim Vess

Massachusetts approves first offshore wind project south of Martha’s Vineyard

Energize Weekly, May 1, 2019 Massachusetts’s first offshore in project, two 400-megawatt (MW) installations in an area south of Martha’s Vineyard, has been given a green light by state regulators. The project by Vineyard Wind, which will sell its electricity to four distribution utilities, was approved by the Massachusetts Department of Public Utilities (DPU). The DPU found that the projects

By - Jim Vess

Coal plant closure moving west into areas with strong renewable energy resources, says BTU Analytics

Energize Weekly, May 1, 2019 The battle over coal-fired power plants and renewable energy is moving west, according to analyses by BTU Analytics, a Lakewood, Colo.-based energy consultant. About 81 gigawatts of coal-fired capacity has been closed at 696 units at 360 plants since 2008. In the early years, most of the closures were in the East. “Those retirements were

By - Jim Vess

Small, net-meter wind turbine capacity growth led by a tripling in the Northeast

Energize Weekly, May 1, 2019 Small wind turbines—at homes, farms and businesses—have increasingly been plugging into the grid and getting paid for the electricity they put on the wires—with the fastest growth in the Northeast. Net metering, which enables homeowners and commercial customers to be credited for electricity they put on the gird, has been one of the financial incentives

By - Jim Vess

U.S. ethanol exports set a record with Brazil and Canada as the two biggest markets

Energize Weekly, May 1, 2019 U.S. fuel ethanol exports rose 23 percent year-on-year to 112,000 barrels a day in 2018—an all-time record, according to the federal Energy Information Administration (EIA). At the same time, U.S. fuel ethanol imports were down 30 percent to less than 4,000 barrels a day in 2018, leaving the U.S. a net exporter for the ninth

By - Jim Vess

Western states move on clean energy and carbon emissions reductions

Energize Weekly, May 1, 2019 A push for clean electricity is sweeping western states with a burst of activity last week as Washington and Nevada adopted new standards and Colorado moved closer to approving a 100 percent net-zero-carbon target for 2050. California last September set a net-zero-carbon target by 2045. In March, New Mexico Gov. Michelle Lujan Grisham signed a

By - Jim Vess

U.S. wind installations up in 4Q of 2018 with total capacity for the year at 96,488 MW

Energize Weekly, April 24, 2019 A total of 5,944 megawatts (MW) of wind turbines were installed in the U.S. in the fourth quarter of 2018, the third highest quarter on record, bringing total installed capacity for the year to 96,488 MW, according to the American Wind Energy Association (AWEA). A big driver was corporate and non-utility wind procurement, which set

By - Jim Vess

2019 summer retail gasoline prices slated to be lower than last summer’s, EIA says

Energize Weekly, April 24, 2019 The average summer retail price for regular-grade gasoline in the U.S. will be about 3 percent lower in 2019 than in 2018 at $2.76 a gallon, according to the federal Energy Information Administration (EIA) Summer Fuels Outlook. The cost of gasoline is primarily driven by the cost of crude oil since distribution expenses and taxes

By - Jim Vess

Vermont’s Green Mountain Power sets a goal of 100 percent renewable energy by 2030

Energize Weekly, April 24, 2019 Vermont’s largest utility, Green Mountain Power, has set a goal of reaching 100 percent carbon-free generation by 2025 and 100 percent renewable energy by 2030. Green Mountain, which serves 264,000 customers or about 40 percent of the state, is already 90 percent carbon-free, getting the bulk of its electricity from hydropower and a power purchase

By - Jim Vess

U.S. hit a record for energy consumption in 2018 led by increases in oil and natural gas

Energize Weekly, April 24, 2019 The United States hit a record high 101.3 quadrillion British thermal units (Btu) for primary energy consumption in 2018—surpassing by three-tenths of a percent the previous high in 2007, according to the federal Energy Information Administration (EIA). Energy consumption was up 4 percent from 2017. It was the largest annual increase in terms of percentage

By - Jim Vess

Climate-driven weather events pose a risk to municipal bonds, commercial real estate and utilities, BlackRock says

Energize Weekly, April 24, 2019 Among the economic threats posed by climate change are risks to municipal bonds, commercial real estate investments and the utility sector, according to an analysis by BlackRock and the Rhodium Group. “Our work with Rhodium Group shows a rising share of U.S. metropolitan statistical areas (MSAs) will likely be hit by climate change in the coming decades,”

By - Jim Vess

Solar PV capacity continues to grow in urban America led by California cities

Energize Weekly, April 17, 2019 American cities are continuing to be a beacon for solar generation as the number of large municipalities with more than 50 megawatts (MW) installed has tripled to 23, while 45 cities have doubled their photovoltaic (PV) solar capacity. Those were among the findings in the sixth annual survey of solar in large cities by the

By - Jim Vess

Combined-cycle natural gas generation overtook coal in total capacity in early 2019

Energize Weekly, April 17, 2019 Natural gas-fired combined-cycle generating capacity in the U.S. overtook coal-fired generation as the country’s largest single source of electricity generation in early 2019, according to the federal Energy Information Administration (EIA). In January 2019, there were 264 gigawatts (GW) of combined-cycle gas-fired plant capacity and 243 GW of coal-fired plant capacity. In 2002, there were

By - Jim Vess

Energy storage had a record year in 2018, and growth is projected through 2024

Energize Weekly, April 17, 2019 The global energy storage market posted a record 120 percent year-on-year growth, with 6 gigawatt-hours (GWh) installed. The future looks strong with capacity growing thirteenfold by 2024, according to a Wood Mackenzie Power & Renewables study. “From 2013 to 2018, we saw fledgling market growth” with a total of 12 GWh installed, Ravi Manghani, Wood

By - Jim Vess

New Jersey sets up online registry to promote offshore wind projects, attract investment

Energize Weekly, April 17, 2019 New Jersey has created an online supply chain registry to help develop 1,100 megawatts (MW) of new offshore wind projects—a priority for the administration of Gov. Phil Murphy. The registry will the enable companies “to publicly indicate their interest and ability to supply components and services,” according to the New Jersey Economic Development Authority (NJEDA),

By - Jim Vess

U.S crude production hits record 11 million barrels/day led by Texas and Gulf output

Energize Weekly, April 17, 2019 U.S. crude oil production—driven by Texas output—hit a record average 10.96 million barrels a day in 2018, a 17 percent year-over-year increase, according to the federal Energy Information Administration (EIA). In December 2018, crude oil production reached 11.96 million barrels a day—the highest monthly level of crude production in U.S. history. “U.S. crude oil production

By - Jim Vess

Global renewable generation rises in 2018 led by solar and wind

Energize Weekly, April 10, 2019 Global renewable electric generating capacity rose 7.9 percent in 2018, adding 171 gigawatts (GW), with wind and solar installations accounting for 84 percent of the new generation, according to the International Renewable Energy Agency (IRENA). The majority of new renewable installations, 61 percent or 105 GW, were in Asia, giving the region 11.4 percent year-on-year

By - Jim Vess

Brazilian LNG-to-power project gets $288 million loan from International Finance Corp.

Energize Weekly, April 10, 2019 A Brazilian liquefied natural gas (LNG) power plant project, developed by an international joint venture, has received a $288 million loan from the International Finance Corporation (IFC), a sister organization to the World Bank. The 15-year loan will cover development and operation of the plant in the state of Rio de Janeiro by Geração de

By - Jim Vess

Duke Energy proposes a $76 million EV charging station program in North Carolina

Energize Weekly, April 10, 2019 Duke Energy has filed a plan with North Carolina regulators for a three-year, $76 million pilot plan to add electric vehicle (EV) charging stations and promote the growth of the vehicles in the state. “North Carolina’s current pace of EV infrastructure availability cannot support the current and future pace of EV growth, and as EV

By - Jim Vess

Dynamic pricing for EVs could lead to $2.6 billion in benefits for Illinois consumers, study says

Energize Weekly, April 10, 2019 A well-designed electric vehicle (EV) program in Illinois could create $2.6 billion in consumer benefits, according to the Citizens Utility Board (CUB), a consumer watchdog group. The key to those benefits is simultaneously promoting the adoption of EVs and creating a rate structure that optimizes the charging of those vehicles at off-peak hours, particularly late

By - Jim Vess

Colo legislature passes oil and gas bill giving local governments more control over drilling

Energize Weekly, April 10, 2019 The Colorado legislature has passed a sweeping oil and gas bill aimed at giving local government more control over drilling, but only after adding a few industry-friendly amendments. Gov. Jared Polis has indicated he will sign the bill. The legislation, Senate Bill 181, came in response to protests from residents and officials in suburban municipalities

By - Jim Vess

Maryland once again wrestling with a push to raise the state’s renewable energy standard

Energize Weekly, April 3, 2019 The Maryland legislature is taking a second stab at raising the state’s standard for renewable electricity generation to 50 percent by 2030 from the current target of 25 percent in 2020. Last year, a similar effort stalled as a key committee—the House of Delegates’ Economic Committee—rejected the legislation. The 25 percent renewable portfolio standard (RPS)

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