Energy storage megashift ahead, battery costs set to fall 60% by 2020

Batteries undergoing testing (Photo: UCL Mathematical and Physical Sciences)

The key role energy storage will play in the electricity grids of the future – and the vital importance of investing in and testing the various emerging battery storage technologies – has been highlighted in a major report published by the Australian Renewable Energy Agency (ARENA). The report predicts a 40-60 per cent price plunge for certain battery technologies by 2020. Sophie Vorrath of Reneweconomy has the story. … [Read more...]

Caught out by double dip: why the oil glut may lead to a new world of energy 

Offshore drilling rigs on the Cromarty Firth, Scotland (photo Michael Elleray)

Market watchers were caught out by the recent second slump in oil prices. They thought the bottom had been reached earlier this year. Could we be a witnessing a fundamental shift in the energy industry, wonders energy expert and author Michael T. Klare? "Investment in 'unconventional' projects like Canadian tar sands, ultra-deep Atlantic fields and Arctic oil will largely disappear." … [Read more...]

Saudis could face open revolt at next OPEC meeting

(Photo: Tribes of the world)

Market watchers assume that Saudi Arabia will not change its oil policy any time soon, which means that oil prices will continue to be in the doldrum for quite some time. However, Dalan McEndree of Oilprice.com points out that the Saudis may well face an open revolt from fellow OPEC members at the next OPEC meeting. They will then be faced with the choice to cut production - or see OPEC fall apart. … [Read more...]

Global coal boom? It ends as China and world wake up to reality of carbon pollution

"End coal" action in South Africa in 2013 (photo Greenpeace SA)

The idea that the world is experiencing a coal renaissance, as is sometimes assumed or proclaimed by observers, is mistaken, writes Joseph Romm, editor of the weblog Climate Progress. According to Romm, the coal boom of the first decade of the 21st Century has stalled. And there is every reason to expect that it is over for good. … [Read more...]

The Eurasian Big Bang: how China and Russia are carving out their own world order

Salavat Yulaev monument, Ufa, Bashkortosan, Russia (photo William Veerbeek)

While politicians in the United States are outdoing each other condemning the Iran nuclear agreement, the rest of the world is moving on, writes Asia Times correspondent Pepe Escobar. Virtually unreported by western media, China, Russia, India, Iran and other nations are establishing financial, economic, political and energy infrastructure partnerships that are changing global relations irrevocably. The EU meanwhile is mostly ignored. … [Read more...]

Interview Taner Yildiz, Energy Minister Turkey: “We will ensure security of supply through the market”

ENERJI VE TABII KAYNAKLAR BAKANI TANER YILDIZ

Turkey, faced with strong demand growth and high import dependency, is undertaking ambitious projects in new nuclear power, coal power and renewables. In an exclusive interview, Taner Yildiz, Minister of Energy and Natural Resources, explains how the Turkish government is shaping the country's energy strategy, but notes that the private sector will have to make the investments. “Having put in place a transparent, competitive market structure, I … [Read more...]

How cheap can solar get? Very cheap indeed

Walmart roof (photo Walmart)

If current rates of improvement hold, solar power will be incredibly cheap by the time it’s a substantial fraction of the world’s electricity supply, writes famous author and thinker Ramez Naam. According to Naam, electricity cost is from now on coupled to the ever-decreasing price of technology. That is profoundly deflationary and disruptive. … [Read more...]