Global Scans · Energy · Weekly Summary

• In combination with other sources of clean energy, SMRs will play a role in achieving the clean energy transition and boosting energy security in Europe in the coming years by helping to decarbonise industry, produce low-carbon hydrogen and provide heat to industry and urban districts. Energy
• In the United States, oil production will grow and then remain at record levels to 2050, and gas is projected to continuously and significantly increase to 2050; whilst coal will drop by half. Resilience.org
• The International Energy Agency finds that stated national policies will result in oil and gas production in 2050 as high as 2020; with coal halved. Resilience.org
• Rio Tinto Group recently said it will drive development of Australia's largest solar power project near Gladstone, after agreeing to buy all electricity from the 1.1 GW1Upper Calliope Solar Farm to provide renewable power to Rio Tinto's Gladstone operations. The Globe and Mail
• Overall PCE inflation is projected to tick up in 2025 even as core PCE inflation declines because the factors that have tended to limit price increases for food and energy are expected to recede. Congressional Budget Office
• A Labour Government will capitalise Great British Energy with an initial £8.3bn (inclusive of the £3.3bn Local Power Plan) - over the first parliament, investing in partnership with the private sector. The Guardian
• Connecting Sicily with Sardinia and the Italian peninsula through a double submarine cable 970 kilometers long and 1,000 MW in capacity, Tyrrhenian Link will help foster the development of renewable energy sources, grid reliability and promote energy security in Italy. MarketScreener
• By connecting Sicily and Sardinia with the Italian mainland via a 970 km, 1000 MW double submarine cable, the Tyrrhenian Link will foster the development of renewable sources, grid reliability and promote energy security in Italy. European Investment Bank
• Widespread use of highly transparent solar applications, together with rooftop units, could nearly meet U.S. electricity demand and drastically reduce the use of fossil fuels. Troy Media
• The launch of ComEd's new EV rebates will make a big difference in helping low-income and environmental justice communities play a direct role in reducing greenhouse gas emissions. Yahoo Finance
• The world must nearly halve its greenhouse gas emissions this decade and reach zero net emissions by 2050 to keep global warming from spiraling to catastrophic levels. CNN
• In summary, the significance of hydrogen lies in its potential to address climate change, promote energy security, and drive innovation across various sectors, ultimately contributing to a more sustainable and resilient global energy system in achieving 2050 climate goals. MDPI
• If the substantial technical obstacles can be overcome then fusion could solve much of the world's energy woes, as it generates a huge amount of energy for very little fuel, requires no exploitation of finite natural resources and produces no greenhouse gas emissions. The Telegraph
• A very small amount of abated fossil fuels would continue to be used in the power sector in 2040, with gas-fired CCS plants making up 3% of electricity generation - down from the 36% share of fossil-fueled power in 2021. Carbon Brief
• Of the seven National Energy and Climate Plans that provided electricity demand forecasts for 2030, all show consumption increasing from 2020 levels, including increases of 13% for Italy and 17% for Spain. Ember
• Despite being one of Europe's clean energy champions, Portugal has still not moved past a peak in wind generation achieved in 2019 (14 TWh), even though the updated National Energy and Climate Plan assumes a swift doubling of the current wind capacity, from 5 GW in 2022 to 12 GW by 2030. Ember
• Energy companies in the United States are outpacing state policy because they are recognizing opportunities and receiving unprecedented federal funding to transition to clean energy. Yahoo News
• Europe will need to double down on renewable power to keep up with the projected rise in demand from the adoption of heat pumps and electric cars. Yale E360
• Renewables Overtaking Coal: Projections indicate renewables surpassing coal as the primary source of electricity generation by 2025, with wind and solar PV dominating by 2028. Blog
• Rapid expansion in green renewable energy capacity is underway, with BPCL's five solar projects and two wind projects, and plans to establish 5 GW of green renewable energy capacity by 2028. Energy Connects
• Demand for oil and natural gas in India is expected to increase by nearly 70% between 2022 and 2050, while oil demand is expected to increase from 223 MMT in 2022 levels to 300-330 MMT by 2030. Energy Connects
• Fossil fuel consumption falls by 80% in 2040 under the S3 scenario, with oil and gas continuing to play a minor role in the energy mix. Carbon Brief

Last updated: 11 February 2024