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WHAT'S NEXT?: By 2025 solar energy will be the cheapest energy option globally. In 2040, oil and natural gas are expected to make up nearly 60 percent of global supplies, while nuclear and renewables will be approaching 25 percent. Improvements in energy efficiency in lighting and home appliances are expected to continue to push residential electricity use lower. The burning of coal will fall out of favor. Transportation energy consumption will be rising in correlation to growth in automated vehicles in the coming years.

  • [New] Planned investments for new oil and gas to 2030 could fully finance the scale-up of wind and solar energy needed to align with 1.5 °C. International Institute for Sustainable Development
  • [New] With clear signs that the energy price shock of 2022 is increasingly behind us, the rise in business rates will more than offset the forecast reduction of energy costs by 2024. Lambert Smith Hampton
  • [New] A scenario that meets the goals of the Paris Agreement, would mean a quadrupling of mineral requirements for clean energy technologies by 2040. Eventbrite
  • [New] A major collaboration between universities and energy companies has made vital improvements to offshore wind turbines, which could help them generate more renewable energy and reduce the UK's reliance on fossil fuels. CleanTechnica
  • [New] SSE will invest £100m in the UK's first pumped hydro storage scheme in 40 years in a bid to support the UK's renewable energy transition. CityAM
  • [New] With EU-wide gas demand already falling and renewable sources of electricity projected to make up a larger and larger share of Europe's energy mix, actual LNG demand in 2030 could be as low as 150 bcm. Politico
  • [New] THE Department of Energy will auction off a total of 11,610 megawatts of renewable energy (RE) capacity across the country in June 2023. BusinessMirror
  • [New] In the short term, marine energy could serve U.S. coastal communities and provide local, clean power to rural and remote island communities, which often rely on expensive shipments of fossil fuels. Inside Climate News
  • [New] In the short term, existing Egyptian liquefied natural gas (LNG) export plants could make the greatest contribution, which can be maximized by measures to boost Egypt's energy efficiency and renewable capacity. Center on Global Energy Policy at Columbia University |
  • [New] The Department of Energy has approved a $700 million conditional loan to mining company Ioneer to build the Rhyolite Ridge Lithium-Boron Project, projected to produce enough lithium for 370,000 electric vehicles annually when it's running at full strength. Govtech
  • [New] The present context of the power sector of Bangladesh focuses on the low generation cost of power, but things will not be the same in 2041 when the world will have already moved to clean and green energy. The Business Standard
  • [New] With Russian supplies cut off, the European Commission has increased its targets for renewable energy to wean Europe Union countries off gas: it now aims to get 45% of EU energy from renewable sources by 2030, more than double the amount today. The Guardian
  • [New] The average UK energy bill is forecast to be about £2,500 a year in 2023, meaning retrofitting would save between £437.50 and £937.50, and help the environment by producing fewer of the planet-warming emissions generated by producing energy. iNews
  • [New] We see the Inflation Reduction Act in the U.S. creating significant opportunities for investors to allocate capital to the energy transition. BlackRock
  • [New] Almost 84% of energy generated in Europe will come from either solar, onshore wind, offshore wind or hydropower by 2050, compared to just below 50% in 2021. RealWire
  • [New] Alternergy Holdings Corp. plans to issue up to P 2.5-billion green bonds to partly finance its plan to build up to 350 megawatts of renewable energy (RE) projects in the next three years to five years. BusinessMirror
  • [New] Europe has responded, though not as forcefully as some would like, cutting its use of Russian oil and gas, investing in other energy sources and vowing to completely phase out Russian imports by 2027. Grid News
  • [New] The potential for energy prices to rise in Q4 due to Europe being unable to build their reserves, along with increased energy demands from China. Teneo
  • [New] The Department of Energy announced a funding opportunity last week for R&D projects related to lowering the costs of hydrogen production methods that produce zero or next-to-zero carbon emissions. AIP American Institute of Physics
  • [New] Offshore hydrogen production is paramount to meet the substantial increase expected in European hydrogen demand, and hydrogen is due to play a significant role as a low-carbon energy carrier, not only to decarbonise hard-to-abate sectors but also to boost the security of energy supply in Europe. Offshore Energy
  • [New] The Department for Energy Security and Net Zero today confirmed the next contracts for difference auction round will be backed by £205m, including £170m for established technologies such as offshore wind and £10m that will be ring-fenced for earlier stage tidal stream technologies. Business Green

Last updated: 24 March 2023