Energy

U.S. developers added 11 gigawatts (GW) of new utility-scale clean power capacity in the second quarter, according to the American Clean Power Association’s (ACP) Clean Power Quarterly Market Report.

This record-breaking amount marks a 91 percent increase over the second quarter of 2023.

For the year, there has been 19 GW of installations, which is more than double the five-year average for installations in the first half of the year. With the second half of the year historically much stronger than the first half for clean power additions, the likelihood is high for a record-breaking year in 2024.

The global transition to clean electricity has reached important new milestones and is set to continue at the current pace. According to a pair of new reports by research provider BloombergNEF (BNEF), for the first time ever, zero-carbon sources made up over 40% of the electricity the world generated in 2023. Hydro power accounted for 14.7%, while wind and solar contributed almost as much at 13.9% – a new record high. Nuclear’s share was 9.4%.

These findings emerge from two reports published today by BNEF: Power Transition Trends 2024, and the 2H 2024 Renewable Energy Investment Tracker, which indicate that momentum towards clean power has also accelerated, with wind and solar representing nearly 91% of net new power capacity additions in 2023 – up from 83% the year before – while fossil fuels including coal and gas represented just 6% of net new build – the lowest level ever.

Storage capacity in the U.S. has grown enough in recent years to be able to power many millions of homes, according to S&P Global Market Intelligence. California and Texas dominate the industry, but projects are in the works in Nevada, Arizona and elsewhere to help meet growing power demand from artificial-intelligence data centers and manufacturing plants.

Private-equity firm Cerberus Capital Management recently agreed to a $315.5 million debt investment in Eos Energy Enterprises, a startup producing zinc batteries that could store energy for longer periods. A developer called rPlus Energies just raised over $1 billion for a big solar and storage project in Utah. 

With highly fractured, permeable ground, the Great Basin’s geology makes it one of the most geothermally rich areas in the world. Hot fluid rises easily toward the surface, ideal for driving power plants, and present-day…

Note: Here is a VC-backed company which is using solar power to pull CO2 and H20 out of the air and combine it into CH4 … better known as methane or natural gas!   Importantly, this tech looks like it might get cheap enough to scale up.  The video tour by the CEO explains the chemistry and economics.

Today, Terraform is announcing that it has commissioned a demonstrator plant and produced synthetic natural gas for the first time.
Roughly the size of two shipping containers, the Terraformer consists of three …

The Global Energy Outlook, an annual analysis from Resources for the Future (RFF), charts a wide range of pathways for the world’s energy outlook. What are the key findings? 

The report comes to several conclusions based on 16 scenarios. 1) Consumption of coal, oil, and natural gas is expected to peak before 2030 but remain at or near a plateau through 2050 in many scenarios. Achieving international climate targets will require a peak followed by a rapid decline. 2) Carbon dioxide removal technologies are …

A lithium processing plant that could help put 800,000 electric vehicles on the road per year has received a conditional commitment for a $2.26 billion loan guarantee from the U.S. Department of Energy. The plant would be in Humboldt County, on the Nevada-Oregon border, at Thacker Pass, where Lithium Americas Corp. and its Lithium Nevada Corp. subsidiary are developing a mine containing the largest proven lithium reserves in North America.

To decarbonize the electrical grid, companies are finding creative ways to store energy during periods of low demand. By Amos Zeeberg March 18, 2024 Central Sardinia is not generally considered a hotbed of innovation: Arid…

Enhanced geothermal technologies have been radically improving of late. In addition to the well-publicized project with Fervo Energy, perhaps the proof of concept project in central Nevada from the Chevron – Baseload Capital joint venture will prove current economic viability.