The economic case for a coal phase-out is stronger than ever

According to several reports, coal power is losing its economic ground, and a lot of infrastructures may one day actually become stranded assesst totgether with recent, ongoing, and planned oil invest in pipelines, harbor faciliteis and refinereies etc.

As detailed analysis by Carbon Tracker analysis, 60% of the global coal capacity is uneconomic on a long-run marginal cost basis. Theis means that in the absence of changing circumstances (i.e., lower costs and/or higher revenues), coal power is, and will continue to be, inherently risky business.

 

Carbon Tracker reports: "The trend is more widespread in liberalized markets, such as those in Western Europe, as wind and solar, with their near-zero marginal costs, drive power prices below the operating cost of coal generation. For example, based on a recent Carbon Tracker report, 79% of operating hard coal and lignite capacity in the EU28 is uneconomic. This dire situation contrasts with coal generators in South Korea, where all operators are cash-flow positive due to market structures that effectively guarantee a rate of return regardless of cost.[ii] Irrespective of whether plants are in liberalized or regulated markets, low-cost wind and solar is a megatrend coursing through regions at varying levels. As detailed in Figure 2, this trend has accelerated in 2019, to the extent where we now believe over 50% of global coal capacity has a higher marginal cost than the levelised cost of either solar PV, onshore wind, or offshore wind. Even nations such as Japan, which is known to have limited renewable resources due to topographical and land-use constraints, low-cost wind and solar could soon eclipse the economics of incumbent coal as early as 2024."

 Source: Carbon Tracker analysis (2019)

Source: Carbon Tracker (LINK)

Spanish oil company Repsol has announced to become a net-zero emissions company by 2050

Carbon Tracker reports that Repsol has announced to become a net-zero emissions company by 2050. This is a step forward from their previous long-term ambition, which was to lower carbon intensity by 40% by 2040.

"This ambition entails directing all of its activities and investments to meet new and more stringent plans all in alignment with the energy transition and the effort to limit the planet’s temperature rise to well below 2 degrees Celsius according to the Paris Agreement’s climate goals."

Now Repsol is one of a handful of oil companies that have set ambitions to lower the lifecycle carbon emissions intensity of their products, alongside Total and Shell.

Repsol is increasing by 3,000 MW its target for low-carbon electricity generation capacity, to 7,500 MW by 2025, and will begin to expand into other markets to become a leading international player in renewable energies such as photovoltaic and wind power.

Source: Carbon Tracker (LINK), Repsol (LINK)

2nd double-digit-gigawatt scale renewable energy project start in China

PV Magazine reports (LINK) that Huanghe Hydropower Development has started work on of a renewable energy project featuring 10 GW of solar generation capacity, 5 GW of wind and 1 GW of concentrating solar power. Trina will supply 600 MW of modules to the first phase of the facility.

This facility is one of two double-digit-gigawatt scale projects being planned by the China State Power Investment Corporation. The other is a 16 GW facility that is being constructed in Hainan prefecture.

Photo credit: Huanghe Hydropower Development LINK

In addition, JA Solar will supply 485 MW,  Longi 470 MW, Eging 420 MW, Solargiga 407 MW, JinkoSolar 314 MW, CPI Solar Power Xi’An 288 MW, Jolywood 150 MW and GS-Solar 48 MW. All of these panels will be bifacial products with an output of more than 400 Wp.

The monocrystalline manufacturer Longi willsupply the project with 445 Wp modules employing its new M6, 166mm wafer and PERC cells.

Earlier this year the big news was that Zhonghuan Semiconductor unveiled a 12-inch super solar wafer (LINK). The manufacturer said that its 12 inch "Kwafoo" product would improve efficiency and, if used in the optimal p-type PERC type of panel, could boast a module output of 610 W.

 

Credit : Zhonghuan Semiconductor (LINK)

US Installed 2.6 GW New Solar In Q3/2019 - Up 45%

According to Taiyangnews citing the Solar Market Insight report (LINK), the US saw 712 MW of new residential solar installations in the third quarter of 2019 which is a record for this segment and helped take total PV installations in the reporting period to 2.6 GW, growing 45% over last year and 25% up from the previous quarter, according to the Q4 2019 US Solar Market Insight report. The cumulative solar PV capacity of the US market until the end of Q3/2019 has now reached 71.3 GW.

• In 2019, the report forecasts the US market to install 13 GW of total capacity, growing 23% annually
• Growing more than double over the next five years, annual installations are expected to reach 20.1 GW by 2021

Source: Taiyangnews US Installed 2.6 GW New Solar In Q3/2019

Shipping company CMA CGM commits to thousands of tons of Shell biofuel

Port Technology International reports that the french shipping company CMA CGM has selected Shell to supply what it describes as “tens of thousands of tons of marine biofuel” to its fleet. The fuel used is composed of 80% of Low Sulphur Fuel Oil and 20% of a biofuel made of used cooking oil. The biofuel used reduces greenhouse gas emissions by 80% and virtually eliminates sulphur oxides emissions.

 

Photo credit CMA CGM

Source: Port Technology International LINK

Wind energy to become Germany's most important energy source for the first time in 2019

[Press release, BWE, German, LINK] In 2019, wind energy will for the first time generate more electricity than all other energy sources in the German energy mix and lignite will therefore replace it as the number one electricity source in Germany. 

Although the expansion of wind energy in Germany is faltering, wind power generation is reaching record levels. Due to good wind conditions worldwide in 2019, the nearly 30,000 wind turbines installed in Germany generated 118 TWh of green electricity by mid-December. Never before has so much electricity been generated from wind energy in Germany. By the end of November 2019, the total electricity generation for 2018 had already been reached and exceeded.

The record year for wind energy is associated with an important milestone in the energy turnaround: Wind energy was the first single renewable energy source to become Germany's most important energy source. Since 2011, this top position has been occupied by lignite, which is harmful to the climate. In figures, German wind energy contributed 24%, lignite 20%, nuclear 14%, gas 11%, hard coal 10%, solar 9%, biomass 9% and hydropower 4% to net electricity generation in Germany in the current year. (Source: Fraunhofer Energy Charts, figures rounded)

 

Net electricity generation from power plants for public electricity supply. Data source: 50 Hertz, Amprion, Tennet, TransnetBW, Destatis, EEX last update: 13 Dec 2019 13:37
 

"Wind energy is Germany's most important energy source for the first time. That makes us proud. Our thanks go to the medium-sized sector, which has repeatedly demonstrated its innovative strength and entrepreneurial spirit over the past 20 years, and to the EEG, which provided the right investment incentives to develop wind energy in Germany into a worldwide cutting-edge technology. Together with its members, the BWE is working on developing wind energy into a reliable foundation for a CO2-neutral energy system and further expanding this year's record figures.

However, the current figures must not obscure the fact that the German wind energy industry is in a serious crisis in view of the collapse in new construction. Politicians now have to assume responsibility for the energy turnaround and the employees in the wind industry by bringing about rapid improvements in the approval process and in the provision of land and legal security for wind energy projects. It is also necessary to flank this with a courageous, legally defined timeframe and quantity structure for the expansion until at least 2030. This record year underlines the importance of the future-oriented wind energy industry for Germany as a business location," comments Hermann Albers, President of the German WindEnergy Association.

Translated with www.DeepL.com/Translator (free version)

EU solar boom: over 100% solar market increase in 2019

• Strongest growth year for solar since 2010
• More new solar capacity installed than any other power generation technology in 2019
• Spain is Europe’s largest solar market adding 4.7 GW

SolarPower Europe’s first EU Market Outlook for Solar Power shows that 2019 was one of the best solar years on record for the European Union, with 16.7 GW of installations added in the region, representing a 104% increase over the 8.2 GW added in 2018. This makes 2019 the strongest growth year for solar in the EU-28 since 2010.

EU-28 annual solar PV installed capacity 2000-2019 © SolarPower Europe 2019