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Historically, widespread uptake of renewable energy has been limited by relatively high costs as compared to traditional energy sources. A 2011 IEA report argued that “renewable energy … is becoming cost-competitive in an increasingly broad range of circumstances, in some cases providing investment opportunities without the need for specific economic support.” Several recent trends, and recently announced business ventures, seem to support the IEA’s finding that some renewable energy sources are approaching cost-competitiveness. Prices for distributed solar have plummeted recently – due largely to economies of scale, government support and policy-driven demand – leading in 2011 to a record 1,855… [more]
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A Citigroup analysis of North American oil production suggests that the continent could become the “new Middle East.” The report, ENERGY 2020: North America, the New Middle East?, projects increased oil production as having significant effects throughout North American economies, with an increase in the United States’ real GDP of 2.0 to 3.3% from new production, reduced consumption, and associated activity. The report points out that “the main obstacles to developing a North American oil surplus are political rather than geological or technological.” In response to the growth in shale development, state and federal governments are crafting regulations to address… [more]
View InsightA recent op-ed by noted academic Bjorn Lomborg questions the idea that renewable energy – wind, in particular – is up to the task of mitigating climate change. Renewables are not cost-competitive with traditional energy sources, he argues; and because renewables are intermittent and must be backed-up by base-load or peaker power plants, their true costs per kWh is often understated and their CO2 reduction potential overstated. Much of Lomborg’s argument focuses on the UK’s plan for a 20% reduction in CO2 by 2020 that, according to the op-ed, would require that wind account for 31% of the country’s electricity… [more]
View InsightA recent report from the Bipartisan Policy Center, Energy Innovation at the Department of Defense: Assessing the Opportunities, challenges the assumption that the DoD can function as a be-all-end-all driver of U.S. energy. From the report: “DoD’s historical record on energy innovation is extraordinary, and there is reason to hope that important advances might come from a renewed effort in this area. But there also appear at present to be significant limitations upon the scope and scale of DoD’s likely influence on technological advance that can contribute to the nation’s energy infrastructure as a whole, and particularly to the development… [more]
View InsightProfessor of Physics
City College of the City University of New York
For decades many have considered nuclear fusion to be the brass ring of energy technologies, believing that – were it to be successful and commercially viable – it would offer sustained electricity production with no CO2, particulate pollution, or radioactive waste. Research into safely and consistently harnessing fusion’s potential for civil use has been ongoing since the mid-Twentieth Century. Yet to date no viable commercial applications have been developed. Two prominent fusion research efforts – ITER and the National Ignition Facility (NIF) – are facing potential problems. ITER may be at risk of diminished U.S. funding due to tightening Congressional… [more]
View InsightA Senate bill that would have cut $24 billion in tax breaks to oil companies over 10 years was blocked by Republicans yesterday. The bill, endorsed by President Obama hours before the vote, would have used $11.7 billion of the $24 billion to extend renewable energy tax credits and fund clean energy initiatives. The remainder would have gone toward deficit reduction. Critics of the bill have said that it would do nothing to reduce gas prices. Would legislation like this impact gas prices in the short- to medium-term? Should the U.S. remove subsidies from one industry in order to subsidize… [more]
View InsightOn March 27, 2012 the Environmental Protection Agency, under the authority of the Clean Air Act, released proposed greenhouse gas standards for newly constructed power plants. The rules would require that “new fossil‐fuel‐fired power plants meet an output‐based standard of 1,000 pounds of CO2 per megawatt‐hour (lb CO2/MWh gross).” Combined-cycle natural gas plants should be able to meet this requirement, and coal- or petroleum coke-fired plants would be able to with emerging technologies such as carbon capture and storage. The proposed rules elicited varied response from advocacy groups, many of which were highlighted in this Los Angeles Times article. Environmental… [more]
View InsightAt the Methanol Policy Forum – held March 27, 2012 in Washington, DC – energy industry and policy experts convened to discuss the fuel’s potential as a transportation fuel. The Forum’s opening remarks were made by DOE Assistant Secretary David Sandalow, who offered that methanol offered advantages as a transportation fuel but also brings along some challenges. Among the advantages: “First, and perhaps most important, methanol is inexpensive to produce. At today’s low natural gas and high oil prices, methanol could help reduce fuel costs consumers pay at the pump. “Second, methanol is a liquid at room temperature. It doesn’t… [more]
View InsightIn a study of U.S. carbon capture and storage (CCS) potential published in the Proceedings of the National Academies of Science, researchers at the Massachusetts Institute of Technology found “that the United States can store enough CO2 to stabilize emissions at their current rate for over a hundred years. This result suggests that with a favorable political and economic framework, carbon capture and storage can be a viable climate change mitigation option in this country for the next century.” The video below explains their findings:
View InsightA study of successful cap-and-trade schemes published in the Proceedings of the National Academies of Science found that cap-and-trade policies – a widely favored tool in climate change mitigation – do not necessarily provide sufficient incentives for firms to innovative environmentally-preferable processes and technologies. This finding is significant, as a central argument in favor of cap-and-trade schemes is that they provide price signals that lead firms toward innovation. The study’s author, Margaret Taylor, a researcher at Lawrence Berkeley National Laboratory, notes that compliance costs are frequently overestimated by firms and policymakers during the cap-and-trade schemes’ formulation. Because of this, capped… [more]
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