Posted in Energy

Global Geothermal Power Market is Expected to Grow at 11.6% CAGR

geothermal powerThe global geothermal power market was estimated at $3,233.5 million in 2015, and it is expected to grow at a CAGR of 11.6% during 2016 – 2022.

The factors driving the growth of the global market include increased government support for geothermal power projects and stringent environment regulations, high capacity factor, and increasing need for energy independence and geopolitical energy security.

Asia-Pacific dominated the global geothermal power market in 2015, and it is anticipated to retain its dominance during the forecast period.

The geothermal power market in Asia-Pacific is expected to grow, due to high energy demands in the region and high growth in the geothermal power industry.

Moreover, the rapid depletion of fossil fuel and massive unexplored geothermal power market in the region are creating abundant growth opportunities for the Asia-Pacific geothermal power market. In addition, the increasing job opportunities due to the development of geothermal power plant, is the key trend witnessed in Asia-Pacific geothermal power market.

The information and data in the publication “Global Geothermal Power Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. An amalgamation of top-down and bottom-up approach has been used to calculate the market size.

P&S Market Research analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research. To read more click here.

A cleaner era in energy appears to be digging in

Environmental impacts are business as usual in mining and other extractives. Yet amid an uptick in the demand for metals, minerals, fuels and rare earths that feed everything from cars to construction to clean energy technologies, the mining industry — squeezed by ever greater forces — is slowly shifting, and even cleaning up its act.

There’s no question that the mining industry finds itself in a hole, reputationally speaking. Activists long have targeted mining titans over working conditions, most recently in electronics and jewelry supply chains. Then there’s outrage over ecological degradation.

Yet more potent than lawsuits or sanctions is the market — the slow unraveling of the fossil fuel-based economy. As the price of commodities skyrocketed during the Great Recession, mining spiked, too. That “supercycle” is dead, but real “structural change” is also underfoot. Coal is no longer king; even its reigning companies are suffering steep drops in stock prices, and dozens of coal companies have filed for bankruptcy.

The industry is also getting shafted by the fossil-fuel divestment movement led by 350.org, which counts $3.4 trillion divested and includes 499 institutions, including major banks and the Rockefeller Brothers Fund. Tools abound, such as the Institutional Investors Group on Climate Change guide, to help investors nudge mining company boards toward resilience and sustainability.

A PwC report on shareholder activism (PDF) and trends in mining didn’t mince words, saying, “The gloves are off.” A CDP report asked if miners are “chasing fool’s gold” (PDF), noting, “Some companies have not set targets to reduce their emissions over time, despite the fact that several are using internal carbon prices of up to $50 per ton, which could potentially reduce their profits by $10 billion a year.” To read more excerpts from the GreenBiz State of Green Business Report 2016 click here.

Energy markets: the planet’s unlikely new ally in the emissions effort

energy market sustainabilityIn the aftermath of Paris climate talks, analysts lined up to point out why the celebrated agreement was simply not good enough as outlined by the Conversation.

Certainly, the scale of the climate crisis requires urgent emissions reductions, which Paris did not secure at anything like the necessary scale. Questions also remain over the agreement’s legal status, how future commitments will be made, and what enforcement mechanisms (if any) will be in place.

In Australia, fears that the post-Paris situation would simply return to business as usual seemed borne out by a RepuTex analysis that predicted Australia’s emissions would rise for the next decade and a half. The Turnbull government has announced no new policy to deepen or even meet its emissions targets, while the national science agency CSIRO is making severe cuts to its climate science workforce.

But for many analysts and advocates at the time, particularly those in Paris, the agreement had three important outcomes.

First, the Paris deal provides a foundation for international climate cooperation post-Kyoto. Second, it was an important moment in the politics of climate change, demonstrating the possibility of cooperation and action in response to civil society. And third, it has sent important signals to the market, promoting increased investment in renewables and driving down the profitability of fossil fuels.

The third of these was always the one with the best potential for immediate influence. And we’ve started to see it bite, here and abroad. To read more CLICK HERE.

Will wind energy have longevity?

wind energy australiaWind power is currently the cheapest source of large-scale renewable energy. It involves generating electricity from the naturally occurring power of the wind.

In a TriplePundit article published yesterday; Wind Energy is Top-Dog in the EU … But Will It Last? It refers to a report by the European Wind Energy Association and discusses whether or not it will remain top of the league board.

The article states, it’s a good time for wind energy, particularly in the European Union. The EU added more new wind-energy capacity than any other form of power last year, according to the EWEA report.

In the 28 EU member countries, wind accounted for 44 percent of all new power installations and connected 12.8 gigawatts to the grid, with nearly 10 GW in onshore wind and 3 GW in offshore wind. This amounted to a 6.3 percent increase in wind installations over 2014. Total wind capacity in the EU is now 142 GW and accounts for 11.4 percent of power needs.

Oliver Joy, spokesperson for the European Wind Energy Association, told TriplePundit wind power is no longer an alternative energy source. “Last year, Europe added more new wind capacity than coal, gas and nuclear. We no longer think of wind power as an alternative technology,” “It is mainstream and mature – not to mention onshore wind is the cheapest form of new power generation available to us. An energy transition is underway in Europe and wind power is at its heart.”

The more wind energy installed means less fossil fuel-based power — and that means reduced greenhouse gas emissions.

Naomi Klein says building new nuclear power plants ‘doesn’t make sense’

News.com.au, 1 September 2015.

BUILDING new nuclear power plants to create a carbon-free world “doesn’t make sense” and just serves as a distraction from the risks, Canadian author Naomi Klein says.

The activist and author of This Changes Everything, was asked what she thought about the possibility of building a nuclear power plant in South Australia, which a Royal Commission in the state is currently considering.

Backers of nuclear power often spruik it as an alternative to renewables because it does not produce greenhouse gases, unlike coal-fired power stations.

But Klein said building new nuclear plants did not make any sense to her.

“What’s exciting about this renewables revolution spreading around the world, is that it shows us that we can power our economies without the enormous risk that we have come to accept,” she told media on Thursday.

She said the latest research showed renewables could power 100 per cent of the world’s economies.

“We can do it without those huge risks and costs associated with nuclear so why wouldn’t we?” she said.

We can achieve a carbon-free world with renewables says Canadian author Naomi Klein. Picture: Cole Bennetts/Getty Images Source: Getty Images

We can achieve a carbon-free world with renewables says Canadian author Naomi Klein. Picture: Cole Bennetts/Getty Images Source: Getty Images

While there was still debate over the timing of when renewables should be introduced, and whether existing nuclear power plants should be taken offline first, Klein said it didn’t make sense to her to build new nuclear facilities.

“People are constantly holding this promise of next generation nuclear which supposedly doesn’t have the risk of our current generation nuclear but at this point it’s notional, that’s not what’s being constructed and I think in large part that serves as a distraction from the risk associated with actual nuclear power.”

Klein said Germany was already getting 30 per cent of its daily electricity from renewables. On sunny days renewables can make up to 80 per cent.

“They’ve created … 400,000 jobs in this transition, they’ve also deepened their democracy because they have taken back control of their energy grids in hundreds of cities and towns in Germany and are able to keep the profits of energy generation and use them to pay for services,” she said.

“So this is not just about flipping the switch from one energy model to another, it’s also about changing our economy to make it fairer.

“It is true that some of the most powerful actors in our current economic system … stand to lose a lot.”

View full article here.