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,
Houston Chronicle Houston oilfield service and technology company Baker Hughes has entered into a deal to power all of its facilities in Texas from renewable sources such as wind and solar. In a Wednesday morning statement, Baker Hughes announced signing a 10-year power purchase agreement with the French-owned power company EDF Energy to get all of the electricity for its
Reuters LONDON – BP (BP.L) is increasing its stake in solar energy developer Lightsource BP to 50% from 43% and is aiming for rapid growth over the next few years, the two companies said on Thursday. European oil companies like BP have been stepping up investment in renewable power to diversify their businesses in the face of global moves toward
Houston Chronicle Lower costs and more capacity helped to drive growth in the renewable energy industry this year, according to a new study. The lifetime cost of operating utility-scale solar facilities declined by 18 percent and on-shore wind dipped by 10 percent during the first half of the year, according to the consulting firm Deloitte. The biggest decline in cost
Reuters Growth in global oil demand is expected to slow from 2025 as fuel efficiency improves and the use of electric vehicles increases, but consumption is unlikely to peak in the next two decades, the International Energy Agency said on Wednesday. The Paris-based IEA, which advises Western governments on energy policy, said in its annual World Energy Outlook for the
Source: Houston Chronicle WASHINGTON – Getting the power grid to net-zero carbon emissions by 2050 will be far less costly if nuclear power, along with wind and solar energy, can be expanded, according to scientists from the Massachusetts Institute of Technology. John Reilly, co-director of MIT’s Joint Program on Global Change, and other scientists warn the cost of powering the
