Why do I say that? Because #smartmeters and #smarttariffs give #energy customers the ability to control their own destiny by enabling them to switch off and on devices depending on how expensive #powerprices are.
#smartmeters and #Smarttariffs is better than the whole array of government initiatives from direct customer subsidies, to price caps to generation taxes to talks about power market reform all of which are pushing investors away from the Europen #powermarket.
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Earlier today, #EU agreed on a badly needed reform of the EU Emissions Trading System (#EUETS) which is the system of cap-and-trade of #carbonemissions allowances for #energyintensive industries and the #powergeneration sector. The most critical points are:
1. Agreement to make it compulsory for #EU members to dedicate all their auctioning revenues to #climateaction#investments
Picture of the Week: Speed of change around #energytransition is accelerating. Last year the @IEA projected that #renewableenergy installations would be 1800GW over the next five years. Now they are saying that it will be 2,400GW which is the installed capacity of #China.
Why is the #energytransition accelerating: 2. Opportunity - #EVs, #batteries, #heatpumps and #Solar are multi-billion dollar markets growing at circa 40% per annum and are attracting the best entrepreneurs and businesses across the world
There is a lot of talk about bringing back #solar production to #Europe and the #US. What is needed is an @Airbus type response with cross-border and industry co-operation a must otherwise all attempts will be a failure. Let me explain why?
1. It is the size of the #solar industry and the capital ($50bn) and resources needed to scale and be competitive. This year the #solar market will be around 300GW, up from 180GW last year. The #solar industry will use as much glass in the next 12 months as #Europe produces.
2. The scale of the Fab4: LONGi Solar, JA Solar, Jinko Solar Co., Ltd. and Trina Solar basically control the world market for #solar modules. By the of this year, the four of them will have production capabilities of circa 275GW with the plans to add 140GW next year.
There is a lot of #china bashers out there particularly with regards #energy. The bottom line though is that #China is not only the biggest producers of #solarpanels, #inverters#windturbines and #batteries in the world but also the biggest market for all these products.
This year #china will install circa 100GW of #solarpanels. If you add the 50GW from last year the country has installed over the last 18 months more than the total installed base of the #Unitedstates.
#china will install over 50GW of #wind in 2022 which is more than 50% of all global wind turbines installed this year.
I am firmly convinced that we are in the middle of a revolution in the #energy world. One of the crucial points is around #digitalisation which enables #energyefficiency but at that same time depends on #electricity.
This spiral of digitalisation leading to electrification is one of the primary reasons why we are electrifying our energy systems. I can do without coal but I cannot do anything in this modern #digital world without electricity.
I have never been as positive about our #energy#future as I am these days. Not alone do we have the #technologies and the knowhow to #decarbonise but we have massive retooling taking place in #China and the #US around key future energy technologies
What we do need to change is the negativity around #climatechange. It was thus great to read this article from @greendig criticising the god father of #energyhistory Vaclav Smil