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EIA and IEA are out with projections for emissions and fossil gas consumption. And so they don’t look good.
On our present coverage trajectory, there isn’t any peak in sight, in keeping with EIA By 2050, we are going to seemingly see a 50% enhance in power consumption. And despite the fact that renewables would be the fastest-growing new supply of power, hydrocarbon liquid fuels will meet nearly all of demand.
Which means emissions may rise via 2050, absent huge adjustments to coverage.
In July, the Worldwide Power Company issued an identical evaluation displaying that carbon emissions will hit file ranges within the coming years. And that spending packages around the globe — even at historic ranges — are nonetheless not sufficient.
How can we make sense of this sobering evaluation?
Plus, Wooden Mackenzie is out with a brand new evaluation of world power storage traits, displaying that storage deployments are set to triple this yr. Most of that progress is coming from America and China, which account for 70% of installations. What are the purposes, applied sciences and markets that can dominate this progress?
Lastly, Europe is in a disaster headed into winter. Pure fuel is the second-most confused gas in Europe — and costs are 6 occasions increased than they have been within the spring.
A confluence of things — quickly rising demand suddenly, decrease manufacturing than anticipated from Russia, low storage in Europe, lower-than-expected hydro and wind manufacturing — are contributing to the issue.
What may alleviate the disaster? And does this put pressure on Europe’s local weather ambitions headed into COP26?
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