L1 Flashcards
How much has policy and technology shaved off warming since 2015
1oc
What is the stated policies scenario?
reflect current policy settings based on a sector and country assessment of policies and what has been announced around the world
i.e. no significant policy changes
What is the announced pledges scenario?
assumes all commitments around the world and long term net zero targets will be met in full and on time
what is the net zero emissions by 2050 scneario?
a scenario that sets out a pathways for the global energy sector to achiev net 0 emissions by 2050 - does not rely on emissions reduction from outside the energy sector to achieve its goals - universal access toe lectricity and clean cooking achieved by 2030
What accounts for 90% of the upward pressure on electricity costs?
high gas and coal prices
new form of risks - coupled with geopolitical events, natural gas low crisis have reached new lows and prices have reached new highs
What does clean tech offer in the macro environment?
creation of jobs and more energy independence - less reliant on Russian oil and gas
more than just environment - the idea of energy justice
Japan - green transformation programme and US- IRA = global acceptance and commitment to make a change and progress technology
potential substitution and transformation technology
What does a wind turbine create and how is the connected to the grid?
electricity through blades turning - connected to a generator
Wind risk considerations?
intermittency but battery storage can provide load balancing and behind the meter demand charge management
government action is highly instrumental - permitting and laws that restrict wind turbine construction - Germany = heavily regulated market
Who is the largest offshore wind market for cumulative capacity>
China
Can you talk about the costs of solar over the past decade?
85% cost decline
one of the most competitive energy sources in the market
What are some of the opportuntiies with solar?
Potential to go offshore - eg. the Maldives have floating SPVs
What are some of the key risks associated with solar
Like wind, it is geo-variable - it is intermittant but not unreliable
Solar intensity is not equal among al countries
Not confident that the floating SPVs or wind turbines will work - difficult to service and lack of practical experience of these floating technologies
How does hydrogen work?
Clean fuel that whe consumed in a fuel cell produces only water
can be used in fuel cells which convert the chemical energy of hydrogen and an oxidising agent into electricity through redox reactions
What are some of the opportunities associated with Hydrogen?
EU is leading with ambiious goals for 2030, as well as China, Japan and Australia
versatile - can be used in transport, industry, buildings and energy storage
big energy companies involved with hydrogen
What are some of the risks associated with Hydrogen?
most of the hydrogen is grey - least sustainable
there are several hurdles to generating green hydrogen
How does an EV work?
have a battery instead of traditional gasoline tank and electric motor instead of an internal combustion engine
or
can have a hydrbid vehicle with tanks, batteries, motor and combustion engines
What are some of the opportunities associated with EVs?
Increasingly accessible and widespread - eg. Tesla - continues to rise as policy pressures increase.
reduced cost of batteries from ~45% of total costs to around 35% of total cost due to subsidies and technological progression