CNBC Siemens has revealed more details of the spin-off its energy business later this month, as it aims to create a firm which CEO Joe Kaeser has previously described as encompassing “the entire scope of the energy market like no other company.” At its capital market day Tuesday, Siemens Energy CEO Christian Bruch outlined plans for the spin-off, which will
Forbes How much are you willing to spend to save the earth? How about an extra 89 cents per gallon? That’s about how much a nationwide carbon tax would cost every time you stop for a gasoline fill up. Whether or not you think that’s affordable could very well presage how well you’ll adjust to a hypothetical Biden administration. Joe
CNBC A vast offshore wind project planned for waters off the coast of Virginia Beach looks set to use Siemens Gamesa Renewable Energy’s latest wind turbines, it was announced Tuesday. The European company said that the 2.64 gigawatt (GW) Dominion Energy Coastal Virginia Offshore Wind commercial project will utilize its SG 14-222 DD turbine. Dominion Energy has previously described the scheme as the
CNBC The International Energy Agency said Thursday it expects global energy demand to plunge this year in what the Paris-based agency called the biggest drop since World War II. With roughly 4.2 billion people around the world subject to some form of lockdown in an effort to slow the spread of the coronavirus, the IEA is forecasting a 6% decline
EIA Oil & Gas 360 Publishers Note: Very interesting data provided by the EIA. If the U.S. energy production exceeded consumption in 2019 with no Covid 19 Virus, what in the world is going to happen this year? In 2019, for the first time since 1957, energy production exceeded energy consumption in the United States on an annual basis, according
EIA Oil & Gas Publishers Note: Interesting news from the EIA regarding wind surpassing hydroelectric, but is this a time to celebrate? We are looking at the statistics on renewable energy and the CO2 impact to the environment. The impact on renewable energy does impact the CO2 pollution at a much higher volume than fossil fuels. So the real question
CNBC Shell Australia is set to construct and operate a solar farm made up of around 400,000 photovoltaic panels in the state of Queensland. In an announcement Friday, Shell Australia described the facility as its “first large-scale solar farm” and said it would have a capacity of 120 megawatts. Work on the project is set to finish in 2021, with
EIA By 2050, coal-fired generation comprises only 5% of the region’s generation mix. According to the U.S. Energy Information Administration’s (EIA) International Energy Outlook 2019 (IEO2019), global electric power generation from renewable sources will increase more than 20% throughout the projection period (2018–2050), providing almost half of the world’s electricity generation in 2050. In that same period, global coal-fired generation will decrease
CNBC The cost of producing electricity from solar energy has in the last two years been lower than that of fossil fuels — and that “permanent change” will limit how high oil prices can climb, according to Citi. That shift is coming at a time when global oil supply is running ahead of demand, which is already weighing down on energy
EIA EIA expects 42 gigawatts (GW) of new capacity additions to start commercial operation in 2020. Solar and wind represent almost 32 GW, or 76%, of these additions. According to the U.S. Energy Information Administration’s (EIA) latest inventory of electric generators, EIA expects 42 gigawatts (GW) of new capacity additions to start commercial operation in 2020. Solar and wind represent almost
CNBC The first turbine at the Northwester 2 offshore wind farm in the North Sea has started sending electricity to the Belgian grid. Construction on the 219 megawatt (MW) project is still ongoing, although it is slated to be fully up and running before summer. Belgian wind energy firm Parkwind has a 70% share of the project, while Japan’s Sumitomo
Houston Chronicle UPDATE: Tax credits for biodiesel and wind energy were extended under a deal struck by Republicans and Democrats late Monday night, according to sources close to the discussions. With the House expected to vote on the spending plan late Tuesday, time for additional measures was running out. According to draft legislation circulating Tuesday morning, the tax credit for biodiesel,
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