Global Scans · Energy · Weekly Summary

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] SMRs could potentially form part of Australia's future low-carbon energy mix, utilising existing transmission infrastructure and contributing to baseload power, or providing dispatchable power in a high-renewables grid. ATSE
• [New] Companies with a clear strategy and concrete steps to align their business models with a world that will eventually demand clean energy and fewer fossil fuels will be rewarded. FFI Solutions
• [New] Over the intermediate and long-term, global pressure to reduce emissions and improving product economics will create significant demand for clean energy over fossil fuels. FFI Solutions
• [New] As more and more energy is derived from renewable sources, it is clear that energy storage, and in particular LDES, will be a key new pillar to enable Europe's energy system to meet future energy needs and to fulfil its energy and climate goals. Corre Energy
• [New] Citizens group Northern Colorado Partners for Clean Energy wants PRPA to collaborate with leaders in sustainable energy to find a solution that allows it to achieve its 2030 goal. Yahoo News
• [New] Great British Energy will be owned by the British people, for the British people, creating jobs and building supply chains across the UK, and working with industry and trade unions to deliver clean power. iNews
• [New] While renewable energy sources such as wind, solar and tidal will have their place in meeting the UK's future demand, the nuclear sector appears to have won the argument that the 24/7 power it provides must be in the mix in order to reduce carbon emissions to net zero by 2050. iNews
• [New] Australian mining and energy giant Fortescue announced last week that its ambitious green energy goal - to produce 15 million tonnes of renewable hydrogen annually by 2030 - will be placed on hold. pv magazine Australia
• [New] The Colorado Energy Office will receive more than $129 million to establish a decarbonization accelerator to reduce climate-warming methane emissions from landfills, coal mines and other sources. Colorado Public Radio
• [New] The Colorado Energy Office expects its programs to cut 4.2 million metric tons of carbon dioxide by 2030 and 25 million metric tons of carbon dioxide by 2050. The Denver Post
• [New] Using clean energy: Instead of using resources like oil and gas, organizations are switching to energy sources that will not harm the planet, such as wind and solar power. Environmental Services
• [New] Combining compressed hydrogen - CH with other storage technologies like battery storage and grid hydrogen storage - GHS could help power the world with 100% clean, renewable energy. Transport Advancement
• [New] Growing Energy Needs: India's energy needs are projected to grow 2 to 2.5 times by 2047, with significant progress in renewable energy and emissions reduction. Vajiram & Ravi
• [New] India aims to achieve about 50% of cumulative electric power installed capacity from nonfossil fuel energy sources by 2030 in line with its global commitments to reduce carbon emissions. Asian Development Bank
• [New] Global energy demand from data centers could double by 2026, as generative AI spreads widely (a ChatGPT query uses some 10 times more electricity than a Google search). UNDP
• [New] The shift towards renewable energy could heighten geopolitical tensions through soaring demands for critical minerals, expected to quadruple by 2040, and disrupt fragile economies dependent on fossil fuels through traumatic decarbonization. UNDP
• [New] Renewable energy has the potential to meet the world's growing electricity demands and offer a sustainable future. UNDP
• [New] Global battery costs are declining faster than expected, and experts say that if costs continue to plummet, energy storage systems can better compete with both coal and clean energy sources like hydropower and nuclear energy that can also control their supply to meet demand. AP News
• [New] Sunrise Wind will be the largest wind farm off New York, producing enough clean energy to power about 600,000 New York homes. Hart Energy
• [New] As the new mine owners set up shop in Africa, there is an opportunity to implement better planning, optimise energy use and resources and manage equipment and transport capacity more effectively. Cyprus Shipping News
• [New] Michigan, along with 21 other states, has official clean energy goals that could allow it to continue cutting emissions, advancing its own climate plan and targets for decarbonizing the energy sector. Planet Detroit
• [New] The Bill will set up Great British Energy - a new, publicly-owned energy production company (headquartered in Scotland) - which will develop, own and operate clean power projects, investing in partnership with the private sector. Passle
• [New] Regarding Weather risks, 47% of business decision makers in and the UK are prioritizing decarbonization and clean energy, compared with only a third in the U.S. Aon plc Global Media Relations

Last updated: 26 July 2024