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IEA: Renewables Will Lead Global Generation in 2025

November 11, 2020

The post IEA: Renewables Will Lead Global Generation in 2025 appeared first on POWER Magazine.

The world’s power generation is about to become even more green, according to a new publication from the International Energy Agency (IEA).

The group on Nov. 10 published its “Renewables 2020″ report, and highlighted how generation capacity from both wind and solar will double across the next five years and surpass global generation from both coal and natural gas. The IEA said renewable energy this year is growing at its fastest annual pace in the past six years, despite the COVID-19 pandemic. The agency said the pandemic has in fact hastened the closure of older thermal power generation infrastructure; as an example, American Electric Power this week announced it would shut down nearly half its entire fleet of U.S. coal-fired power plants.

The IEA in the report said “the COVID-19 crisis is hurting—but not halting—global renewable energy growth,” noting that “renewable markets, especially electricity-generating technologies, have already shown their resilience to the crisis.”…

Nuclear Fuel Working Group Outlines How U.S. Could Regain Global Leadership

April 24, 2020

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The post Nuclear Fuel Working Group Outlines How U.S. Could Regain Global Leadership appeared first on POWER Magazine.

The U.S. will attempt to regain its international standing as a world leader in nuclear energy through a three-pronged strategy that will essentially seek to strengthen the full domestic nuclear fuel cycle, possibly deny imports of nuclear fuel fabricated in Russia or China, and promote advanced reactor technologies.

The strategy is outlined in the White House’s Nuclear Fuel Working Group’s (NFWG’s) long-awaited findings released on April 23 in its report, “Restoring America’s Competitive Nuclear Advantage: A Strategy to Assure U.S. National Security.” President Trump convened the group, which includes representatives from various executive branch agencies, in July 2019 after the Department of Commerce in May 2019 found that uranium imports posed a threat to national security. The NFWG was tasked with examining domestic nuclear fuel production and options to revive the entire nuclear fuel supply chain.

Strong Emphasis on the Front-End of the Nuclear Cycle

The NFWG report, which Energy Secretary Dan Brouillette described as a “roadmap” in a call with reporters on Thursday, sets out three key priorities.…

EIA: Renewables Will Account for Half of Global Power Generation by 2050

October 2, 2019

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The post EIA: Renewables Will Account for Half of Global Power Generation by 2050 appeared first on POWER Magazine.

Solar power is expected to take a larger share of global power generation across the next 30 years, according to the U.S. Energy Information Administration (EIA), as renewable energy continues to be adopted worldwide.

The EIA’s International Energy Outlook 2019 (IEO2019), released Oct. 2, shows 28% of the world’s power came from renewables in 2018, nearly all of that from wind, solar, and hydropower. The EIA forecasts that renewables will account for almost half—49%—of global electricity output by 2050, with solar generation showing the most growth, while hydro grows more slowly.

Source: U.S. Energy Information Administration, International Energy Outlook 2019

Solar and other renewables’ growth is not limited to utilities or government efforts to expand the sector. Several companies are using renewables to power their commercial and industrial operations. Exxon Mobil, the oil giant which recently reported $ 20.8 billion in earnings in 2018, signed a 12-year deal with Danish energy company Ørsted late last year to purchase solar and wind power in West Texas.…

Report: Global Renewable Investment Down, Capacity Grows

April 11, 2017

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Global new renewable power capacity grew in 2016 even as global new investment in renewables dropped, according to a report commissioned by the United Nations Environment Program out April 6.

The Global Trends in Renewable Energy Investment 2017 report found that global investment in renewables—excluding large hydro—fell in 2016 by 23% to $ 241.6 billion. That total represented the lowest global investment since 2013.

Global renewable power capacity grew 8% in 2016. “Wind, solar, biomass and waste-to-energy, geothermal, small hydro and marine sources between them added 138.5GW, up from 127.5GW in the previous year,” according to the report.

The reason for the drop in investment is twofold, the report says. “One was lower costs, with average dollar capital expenditure per MW down by more than 10% for solar photovoltaics, onshore wind and offshore wind, improving the competitiveness of those technologies,” according to the report. “The other was not so positive – there was a marked slowdown in financings in China, Japan and some emerging markets during the course of the year.…

Global Nuclear Fuel Update

January 26, 2017

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Uranium oxide, the basic fuel for nuclear power plants, has recently sold at prices not seen in the past 13 years. In fact, the price is less than the cost of production in many cases. That could be a problem, because little is being done to increase the fuel supply, even though the world is adding new and larger reactors.

Late last year, the Organisation for Economic Co-operation and Development’s Nuclear Energy Agency and the International Atomic Energy Agency released a joint 550-page report titled Uranium 2016: Resources, Production and Demand. It was the 26th edition of the now-biennial report, commonly referred to as the Red Book,with data current as of January 1, 2015.

One potentially concerning revelation was that total identified uranium resources had only increased by 0.1% since the previous report had been issued. A reason cited for the minuscule uptick was that very little investment had been made in exploration due to depressed uranium market conditions.

Indeed, the price for uranium oxide (U3O8) has been in a death spiral (Figure 1).…

Global Developments Giving CHP a Much-Needed Boost

January 18, 2017

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According to the International Energy Agency (IEA), global power production from combined-heat-and-power (CHP) technologies has stagnated since 2000, lagging far behind growth in conventional power technologies and commercial heat generation. Despite having an average efficiency of 59%, CHP’s share of global generation in 2013 stood at just 9% (Figure 1), the bulk of it at industrial sites in the chemicals, metal, oil refining, pulp and paper, and food processing sectors (see this issue’s cover stories).

1. Co-generation trends. Source: International Energy Agency (2016), Tracking Clean Energy Progress 2016, OECD/IEA, Paris

That may be poised to change, however: Along with the Paris agreement and a renewed drive for increased energy efficiency, a number of countries have of late implemented policy initiatives that could spur growth for CHP.

U.S. In the U.S., where CHP has a long history in the industrial sector, several market drivers are emerging, the Department of Energy noted in an April 2016 report. These include lower energy operating costs, environmental regulations, resiliency initiatives, utility support, and project replicability (for more, see “CHP Update: Policies, Partnerships, and Challenges” in POWER’s February 2016 issue).…