Category Archive : Energy

The reasons why investors should opt for renewable energy

The humanitarian crisis of the COVID-19 epidemic has worsened, leading to a national blowout recession. Likewise, the global recession has never been devastating since the Great Depression worldwide constraint. Different governments have instigated measures that could stop the transmission of the virus. Additionally, the criteria include quarantine orders, company closures, and travel regulations. The pandemic has currently had an unforgettable effect on the energy industry. Also, throughout 2020, global energy consumption is forecast to drop by 6 percent. The impact has not excluded the clean energy sector.

Wood Mackenzie recently projected a decline of almost 20 percent in comparison to pre-COVID-19, with renewable wind and solar plants forecast to plunge to 4.9 GW in 2020. The drop in energy consumption for renewable is tabulated as 6 percent relative to pre-COVID-19 forecasts. The downturn and power production assessment of the solar energy plants triggered 106,000 work losses. Consequently, in the US, around March, relative to 51,000 job losses occurred in exploration or manufacturing during the same span. Research reveals that 15 percent of the country’s overall renewable energy employees could have lost approximately half a million workers during the next months.

Currently, it is important than anything else for alternative energy sources as well as several low-carbon industries to become more successful, increase employment, and boost the economic systems after COVID-19.

Fossil fuels are also the most affected by the coronavirus outbreak, with depletion estimates of 45 percent in overall market share for significant gas, chemical, and oil firms. The market has recently observed a rapid fall in oil consumption from the beginning of the year- a drop never observed since the past century. During the first period in decades, natural oil markets in the United States have been negative. Although lock-up regulations have alleviated the obstacles of the fossil-fuel economy, the whole structural crash has been going on for an extended period.

Currently, around 11 million workers operate in the clean energy field worldwide, while 3.3 million workers are operating in the power conservation business in the United States and Europe. Energy-efficient employment is generated in small and medium-sized enterprises as per the International Energy Agency (IEA).

The choices global leaders take now will impact the planet after the coronavirus epidemic fades. The world leaders are confronted with a preference: Revive industries fuelled by the collapsing fossil fuel of the history, or jump-start the journeys toward a safe, stable, and sustainable economy. Governments that promote clean energies and energies conservation will not only pump cash into their state but also secure their citizens’ safety and well-being in a safe, healthy, and robust environment. 

State of China’s Electric Car Industry amid COVID-19 Storm

China is globally known for its pursuit of technological and manufacturing prowess, and the Beijing government has made the electric vehicle industry a top priority. But with the coronavirus pandemic hitting China hard with lockdown and partially closed economy, the state of the electric vehicle industry in china hangs on a balance. Tesla, a dominant electric car giant in the world and also in China, plays a crucial role in the Chinese electric car industry. Having built a two billion dollars factory in shanghai back in 2018, Tesla has announced that it plans to up production by 4,000 a week of its Model 3 sedans, following stiff competition from the china-made Model Y compact SUV.

Although Tesla is a global electric car giant, it is not the only electric car industry in China. The Chinese market has an estimate of 450 manufacturers of electric cars, also known as new energy vehicles. They include the likes of Geely and Saic at a state-owned enterprise. Renowned automakers such as General Motors, Audi, Ford, and Volkswagen are also partnering with Chinese counterparts to manufacture electric cars. The rise in interest can be attributed to the Chinese massive potential market, as some cities are shifting to electric buses for their transit system. Many taxi fleets are adapting to electric cars and also the government’s commitment to improving the quality of air and conserving the environment in the country.

According to projections on the current market, china expects to have sold a total unit of 7 million electric vehicles by 2025. These figures have motivated the Beijing administration into further developing the industry and have pumped into the industry nearly 60 billion dollars. With this, the government aims at becoming a global technology leader in the automobile sector and also reduces oil importation. To further its support for the industry, the government has provided significant tax cuts and subsidies to manufactures and buyers of electric cars in the past while also funding research and development for the industry.

However, in the recent past, the New Energy Vehicle market has not been that promising, especially in the wake of COVID-19. Auto sales have continuously declined due to economic slowdown as a result of the coronavirus pandemic and lockdown, as well as design issues of the cars such as battery reliability. The promising market has also been struck by a reduction in subsidies for the program by the government, citing concerns such as cost reduction, economies of scale, and open, equal market. These new developments have significantly influenced consumer preference as the price for electric vehicles is higher than similar conventional cars, leading to more supply than demand. 

Renault Shifting production to China

While the world is reeling in the aftermath of a global pandemic, Renault is looking to the future. The French-based automaker recently announced a move to halt its petrol car production in China. The move comes after Renault realizing China as the world’s most expansive market for cars. 

Amid speculation, Renault China released it’s the newest model, the KZE, which is primarily Renault’s first all-electric city car. The KZE is a brainchild of a partnership between Renault, and tech-based automotive company eGT New Energy Automotive Co. Renault has a 25% bid on the partnership 

The French automaker will focus on producing a range of 4 new EVs in collaboration with Jiangxi Jiangling Group Electric Vehicle. According to the agreement, Renault will gain a 49% stake in the joint agreement with automaking company Brilliance. The venture aims to produce all-electric, light consumer-based vehicles 

According to Chinas Renault Chairman Francois Provost, the firm looks to establish itself in the electric vehicle business and light commercial vehicles. Francois further iterates that there is hope for the electrical division in Renault as electric vehicle sales are on the rise. 

The Renault KZE comes as the latest electric car to hit the market segment. Though its inclusion seems rather recent, it’s a concept that has been in the works since 2019. Yet it features top of the range specifications like a massive 26.8kWh battery pack coming at a reasonably priced $9000. Born out of the innovative city in Shiyan Hubei, the City KZE is mostly available in China. This move will, however, spread as the company sets to heaven a new version start production in Europe 

The latest addition is the European styled KZE that will be called the Dacia Spring. According to speculation, the newly introduced Dacia will come with significant improvements, including a more extended range and better safety capability. This urban vehicle comes to hit the market in 2021. Renault has its targets set on European markets with the Dacia Spring 

Renault is in the process of converting its China-based firm. The firm will nil longer produce petrol-driven cars but will shift production sorely to electric vehicles. Renault administration figures that the company brill benefit much to move all production of its electric cars division to China and have the production have its source from there. 

Should the plan go as planned, Renault will see to an entire Chinese produced EV production line. All other markets will have access to the EVs by importing. 

Equis Development campaigns to investing over $4 billion in the projects of renewable energy

The website of Equis By Deviana Chuo March 31, 2020, headquartered in Singapore of renewable energy and leftover infrastructure inventor Equis Development campaigns to investing over $4 billion in the projects of renewable energy athwart the Asia Pacific in the coming two years, the top executive told Deal Street Asia (DSA). Moreover, to renewable energy, Equis will similarly invest about $2 billion in reprocessing infrastructure, said the managing director Russell David. To achieve these needs, the firm may increase bank financing based on dealing with one project one by one. The target markets of the firm comprise advanced Asia Pacific souks such as South Korea, Australia, Taiwan and Japan. The strategies of Equis are to develop projects of 225MW biomass in Japan rating at $1.4 billion as well as complex fusion micro-grids to upkeep communities and remote mining operations in Australia. 

The firm announced on Monday the completion of its attainment of South Korea’s Jara one, the project of the Solar prized at $50 million. Equis will finance the achievement through the blend of core accruals of bank financing (80 per cent of the capital) and (the remaining 20 per cent of the money), and Russell said. It is in Sinan Town, the province of South Jeolla; Jara includes a solar generation project of 22MW and battery storage system having about 70MWh. 

The construction work of the project events projected to begin next month. Equis has already started working on expanding the capacity of Jara solar to 80MW and the battery storage system of Jara solar to 260MWh, laterally with the novel 400MW substation. The value of the project pegs at about $250 million. “This promise trails our former, fruitful investment into a 207MWh storage system of the battery in August 2019, the largest of Korea,” Sung Woo Yang said, South Korea-based handling director of Equis. South Korea, the fourth largest in the economy of Asia, targets to produce 35 per cent of its power from renewables by 2040. Temporarily, Equis, incorporation with the municipality of Sinan, is also locating up the endowment that will allow the local civic to invest in schemes. 

The attainment of Jara is the 19th project that is protected and funded by Equis succeeding its restructuring. The energy of Equis was g to the United States, which is headquartering of (GIP) Global Infrastructure Partners in January 2018. Following the attainment, Equis has efficient its total asset and capital organization model and has brought its cohorts and staff less than one corporate entity, Development of Equis.

Germany newly founded power storage factory saves power using the lithium-ion technology

Battery storage offers a stable, efficient, and reliable sources of power. Consequently, power storage in batteries incorporates lithium-ion that stores a more extensive capacity of power, and other cells use cobalt. Therefore, if a state experiences a power shortage due to higher electricity demand, the energy sector can channel the battery power into the grid system and supply energy in the country. Several countries have established state-owned firms to store electricity in batteries in either gig watts or megawatts. Germany has joined in the wave, and its newly founded power storage factory currently saves power using the lithium-ion technology.

Tesvolt is currently the company that produces storage batteries that vary in different capacities from 9.6KWh to the MWh. The company is estimated to yield a daily power capacity of 1MWh and 255MWh yearly. German has encountered an increase in energy demand tripling 2019 energy demand. The company is thus necessitated to boost the power grade to meet the high energy demands in the state. Likewise, like top-rated companies, Tesvolt has committed to providing health care to its employees during the COVID-19 pandemic that has affected numerous organizations and companies.

Despite the coronavirus, Daniel Hannemann notes that the company has attained significant turnover numbers in the opening quarter of the season. He further added that the health of their employees is the company’s top priority, and the firm will take care of its employees during the pandemic. However, Daniel revealed uncertainties of how the coronavirus will affect the power demand. He states that the company will operate more closely with its clients to aid and overcome the current challenges through innovation, elasticity, and ingenuity.

The company has placed measures to ensure that all employees are safeguarded against coronavirus while the production process is ongoing. First, the company has initiated platforms by which employees can work from home. The tactic will ensure that their workers avoid public places when boarding to work hence minimize the risks. The company isolates the employee needful in the company such that every staff works in isolation from the other. Simon Schandert, the engineering manager, stated that the company is pleased that the production process is still ongoing, and the employees’ safety is considered to minimize and control the spread of the virus.

Additionally, the company’s battery production occurs in two stages. First, the batteries are charges then discharged in an automated procedure, and defects are checked. Likewise, factors like the voltage, temperature, and resistance should comply with the standards. Lastly, full automation is conducted that involves a selection of high qualities batteries to the next level and removal of low-quality cells.

Carbon neutral will turn into a compulsory thing for banks

Climatic change has turned into an issue of concern for almost every financial institution alongside the drive for environmental sustainability. Be it out of a catalyst such as extreme weather or a mere 2020 resolution; there has been a notable change on this issue by financial institutions. Many have stepped up to publicize their concern for environmental change and degradation.

Such complaints came up into the attention of the public when 631 institutions under a union entrusted with over $37 trillion assets worth of value presented the united nations climate conference with a joint statement. The joint statement was a call to governments to wake up and tackle the environmental change to realize the Paris agreements objectives. While different players in the financial sector clamor for a position just to be heard, the problem is growing huge.

One of the biggest problems that have hit this action is the absence of action. Politicians are presenting an image of something that is underway while there is little or no action being taken. All that is being presented is accretive PR and clever accounting with literally no action on the ground. This raises an essential question on the motive behind financial institutions raising the issue of climatic and environmental crises.

Many like global environmental executive Alex Liftman agree that tackling the problem of climatic change goes beyond usual business. It needs a shift in operation strategy and shifting to use of innovative and working strategy to handle environmental and climatic crisis that has gripped the world. There are, however, banks that have managed to achieve this objective, such as the bank of America, which achieved its set objectives and focuses on achieving more by 2030.

The key to tackling climatic change is understanding how it will affect the world and the global systems and then building solutions from the same.  Failure to embrace this cause is likely to bring in a financial crisis that will see the closure or clashing of many financial institutions when the levels get to extreme. These financial institutions will need to focus on considerable investments in this area to curtail the extent of climatic and environmental change.

Carbon neutral status is a mark that every organization in the finance field needs to have in the coming years. It will be a lead on the compliance with the goals or governments, public nongovernmental organizations, among other groups that they serve. This status will be an indicator of commitment to delivering not only for the profits but also for the good of the entire world.

The globe transforms to using 100 percent renewable energy

This article major on the transformation of the whole world into using renewable energy entirely. Michael Barnard, a Chief Strategist of TFIE Strategy Inc. and Mark Z. Jacobson Professor at Stanford and co-founder of The Solutions Project University, discussed developing energy roadmaps for 143 states where this represents 99.7 percent of all anthropogenic orangery gas productions. The idea of Mark was to talk about universal warming, pollution of air, and energy production. The two specialists discussed the ways that energy could be saved on a global gauge. There was also the idea of using electrification as it reduces social expenditures related to the current production of energy.  

Mark says that by use of electrification, the universe can save energy, whether it focuses on how electric heat pumps consume less energy or the preference of electric car over fuel or diesel-driven vehicles. Mark aims to achieve the electrification mission by the end of 2050. He states that by making everything use electricity, there will be a power demand reduction of 57 percent. 

Mark notes that lots of people rush to support the 100 percent renewable energy transition even before they consider anthropogenic climate change as a factor here. The two professionals protracted the discussion to talk about the impending renewable energy carriers for the safety of global energy by providing benefits like unconventionality of energy and constant energy costs despite global disagreement.  

They embarked on Mark’s research on electrification, which he carried out in 2015 and 2017. In 2017’s study, it entailed an analysis of 139 states and 20 sections of the world. He linked the power demand-supply by using three different approaches and explored varied methods towards the demand of power conveyance and storage. They researched the differences between the two studies and the methods used by Mark and his team on the provision of heating materials and techniques for digging out the heat.  

The transition of 100 percent reusable energy in a given state is classically a puzzling aim to achieve as opposed to carbon impartiality. The latter is extenuating climatic changes whose accomplishment is through the delivery of balance to the whole track of carbon emanation in given nations. 

In the last six years, sources of reusable energy like wind, geothermal, sun, biomass, and burnt waste products conveyed 19 percent of sum energy used globally, having approximately half of it originating from the customary use of biomass. Renewable energy is a center of focus since reusable materials present in the U.S can provide huge portions of electricity as compared to the existing anticipated domestic demand.