daily fusion informed us that electricity will rival crude oil as the major energy carrier this century. This is the projection of the International Energy Agency in its new report Energy Technology Perspectives 2014 – Harnessing Electricity’s Potential. The report focuses on the convergence of two trends: rapidly rising global electricity demand and the need for increased system integration. Electricity’s overall share of total energy demand has doubled over the last 40 years and it is expected to be the fastest growing energy source for the next half century.
“Electricity is going to play a defining role in the first half of this century as the energy carrier that increasingly powers economic growth and development.”
Zawya told us Kuwait wants 2 GW of renewable energy by 2030. The Middle East country recently announced a plan to produce 15% of its total energy requirements from renewable energy sources over the next decade and a half. The road map will include both solar and wind projects.
Digital Journal projected the global green energy market to be valued at over $800 billion in 2019. Market research firm ResearchMoz looks at the market for all renewables including wind, solar, hydro power, biofuels and geothermal which is expected grow at 8.3% per year from now until 2019. The growth in demand is being driven by renewable standards and regulations, environmental concerns, rising energy demand, fuel shortage/replacement, coal plant retirements and the need for a natural gas hedge. Among all green energy types, solar photovoltaic is expected to be the fastest growing segment spurred by the steep fall in prices for solar panels which has increased residential consumer interest in solar energy.
According to Deutsche Welle, Denmark is the world leader in the transition to renewable energy. By 2020, the small northern European country plans to meet 70% of its energy needs with renewables and hopes to raise this to 100% by 2050. The country currently gets 42% of its electricity this way, primarily through onshore and offshore wind. To limit the opposition to what many consider unsightly giant wind turbines, the Danish government requires that residents be compensated for any loses, such as to property values.
Residents are now directly compensated for any loss. If a house loses its value after one of the 150-meter high wind turbines pops up nearby, the operator must compensate homeowners for that loss. In addition, at least 20 percent of the shares in the project must be offered to local residents, giving them a direct stake in the investment. Finally, the community receives a direct allocation per megawatt of power generated…The Danes have also taken into account objections to increasing power lines, solving that problem with underground cables.
Since the biggest problem with renewable electricity is that it is transitory, the Danes are looking into using heat pumps for storage, so that when wind farms are generating excess capacity, the extra electricity can be stored in the form of heat and later be used to heat homes and businesses.
hydrogen Fuel NEWS looked at the global market for geothermal power. 76 countries have nearly 700 geothermal projects in place according to the Geothermal Energy Association. In 2013, the total new geothermal capacity was 530 megawatts worldwide. Over the next few years, this number is expected to grow as South American countries like Chile, Colombia, Argentina and Honduras consider potential geothermal sites. In addition, in East Africa, Ethiopia and Kenya are reportedly developing geothermal power plants.
The Guardian examined why wave power has been lagging as a potential source for electrical generation. Currently no commercial-scale wave power operations exist although there are a few small pilot projects. The problem is coming up with the right design of a wave generator.
…a central challenge has proven to be the complexity of harnessing wave power, which has led to a host of designs…Saltwater is a hostile environment for devices, and the waves themselves offer a challenge for energy harvesting as they not only roll past a device but also bob up and down or converge from all sides in confused seas. This provides enticing opportunities for energy capture, but a challenge for optimum design…In wave energy, you’ve not only got the height of the wave, but you’ve got the period of the wave, so it becomes a more complicated problem.
The Green Optimistic told us How to Build a Wind Turbine for Under $30.
The Telegraph posted Global solar dominance in sight as science trumps fossil fuels. In Asia photovoltaic solar energy is already so cheap that it competes with oil, diesel and liquefied natural gas without subsidies. In the US solar accounted for 29% of electricity capacity added last year as more solar has been installed in that country in the past 18 months than in the past 30 years. According to some, the solar trend is so powerful it going to have a major impact on fossil fuel countries as demand for their resources decline..
Solar will slowly squeeze the revenues of petro-rentier regimes in Russia, Venezuela and Saudi Arabia, among others. Many already need oil prices near $100 a barrel to cover their welfare budgets and military spending. They will have to find a new business model, or fade into decline.. Deutsche Bank say there are already 19 regional markets around the world that have achieved “grid parity”, meaning that PV solar panels can match or undercut local electricity prices without subsidy: California, Chile, Australia, Turkey, Israel, Germany, Japan, Italy, Spain and Greece, for residential power, as well as Mexico and China for industrial power. This will spread as battery storage costs – often a spin-off from electric car ventures – keep dropping.
From Business Insider we learned of 17 Emerging Energy Technologies That Will Change The World.