EIA and IEA are out with projections for emissions and fossil gas consumption. They usually don’t look good.
On our present coverage trajectory, there isn’t any peak in sight, based on EIA By 2050, we are going to doubtless see a 50% enhance in power consumption. And although renewables would be the fastest-growing new supply of power, hydrocarbon liquid fuels will meet nearly all of demand.
Meaning emissions may rise via 2050, absent huge adjustments to coverage.
In July, the Worldwide Power Company issued the same evaluation displaying that carbon emissions will hit report ranges within the coming years. And that spending packages around the globe — even at historic ranges — are nonetheless not sufficient.
How can we make sense of this sobering evaluation?
Plus, Wooden Mackenzie is out with a brand new evaluation of world power storage developments, displaying that storage deployments are set to triple this yr. Most of that progress is coming from America and China, which account for 70% of installations. What are the functions, applied sciences and markets that can dominate this progress?
Lastly, Europe is in a disaster headed into winter. Pure gasoline is the second-most confused gas in Europe — and costs are 6 occasions greater than they had been within the spring.
A confluence of things — quickly rising demand unexpectedly, decrease manufacturing than anticipated from Russia, low storage in Europe, lower-than-expected hydro and wind manufacturing — are contributing to the issue.
What may alleviate the disaster? And does this put pressure on Europe’s local weather ambitions headed into COP26?
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