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SMRs: a new horizon in Nuclear Power.
This week on The Interchange: Recharged, David is joined by Ted Nordhaus, Executive Director at the Breakthrough Institute, an environmental research centre in Berkley, California. They focus on finding technological solutions to environmental problems.
Achieving a net-zero emission grid by 2050, they claim, with a significant nuclear component would not only be feasible but also cost-effective compared to over-reliance on variable renewable energy sources. This approach requires substantial investment, estimated between US$150 to US$220 billion by 2035, escalating to over a trillion dollars by 2050. Together Ted and David discuss the likelihood that the private sector will drive this investment, provided that nuclear technologies are economically viable and regulatory uncertainties are addressed. They look at the Build Nuclear Now campaign, which aims to rally public support for nuclear energy and drive towards grassroots pro-nuclear advocacy. Is this a sign that public sentiment is changing?
The main challenges hindering the adoption of nuclear energy include regulatory hurdles, financial barriers and ongoing concerns surrounding nuclear safety. Ted explains that regulatory reform and public sector commitment could overcome these obstacles. The Nuclear Energy Innovation and Modernization Act are examples of a policy aimed at modernising the regulatory environment, to facilitate the licensing of advanced nuclear reactors.
So, are SMRs the solution to everything nuclear? They’re designed to produce between 50 to 300 MW of electricity per module, which is about one-third of the generation capacity of traditional nuclear power reactors. NuScale's design (listen back to our episode from April last year for more on this) for instance, is for a 77 MW module, with plans to deploy modules in groups that can generate up to 924 MW. The U.S. Department of Energy (DOE) has been actively supporting SMR development, investing over US$600 million in the past decade to assist in the design, licensing and siting of new SMR technologies in the U.S. The technology seems to be there, as does the baseline investment.
What’s next for the nuclear industry? Listen to find out.
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New battery technology could get EV prices down and drive mass adoption
In this week’s episode of Wood Mackenzie’s The Interchange Recharged, host David Banmiller looks at the rapidly evolving landscape of EVs and the battery technology that powers them. Market sentiment in the US is up and down; despite a 40% sales increase from the last quarter of 2022 to the same period in 2023, the industry is struggling with competition from China amid a price war. Batteries have a critical role to play in accelerating mass EV adoption and so their dramatic cost reduction - nearly 90% over the past 14 years – has potentially sparked an EV revolution.
Joining David is Haresh Kamath, an expert in energy storage and clean tech from the Electric Power Research Institute (EPRI). Together, they explore the nuances of battery economics, the potential of cutting-edge technologies like solid-state batteries and the imperative of developing efficient recycling methods to sustain this green momentum.
They examine the challenges of scaling EV infrastructure and supply chains, looking forward at the technologies that will continue to drive down costs and extend EV ranges.
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Saknas det avsnitt?
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A breakthrough way of producing hydrocarbons, crucial to the aviation industry, could reduce costs and accelerate decarbonisation.
Sustainable aviation fuel (SAF) is a key component in the aviation industry's path to decarbonization, which contributes to only 2% of global carbon emissions but is actively seeking cleaner solutions. Airbus and other aerospace companies are leading the charge, with Airbus integrating over 11 million litres of SAF in its operations in 2023, reducing carbon emissions significantly. The industry aims to increase SAF production to 17.5 billion litres by 2030, supported by initiatives like the IRA.
On this episode of Wood Mackenzie's The Interchange Recharged, David Banmiller speaks with Andrew Symes, founder and CEO of OXCCU. They’re developing a more efficient way of converting CO2 and hydrogen into hydrocarbons, potentially a monumental step towards more scalable and environmentally-friendly fuels.
Despite technological advancements, challenges in financing, regulatory support, and talent acquisition persist. SAF's integration with existing aviation infrastructure without the need for modifications is one key benefit; it could create a smoother transition to greener aviation, with expectations for SAF to achieve cost parity with Jet A fuel (the current standard) as technology and scale improve. The SAF industry enjoys broad support from airlines, governments, and regulatory initiatives, who are pushing for increased SAF adoption towards a net-zero future by 2050. The technology behind SAF, and as Andrew explains, the science behind OXCCU, not only promises to revolutionize aviation but also has applications in producing chemicals and plastics, signalling a broader impact on sustainability across various sectors and the goal of a circular economy.
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Half of the energy workforce is employed in clean energy technologies. By 2030, over 10 million new jobs will need to be filled as the energy transition continues. China, for example, employs 3 million workers in clean energy manufacturing – accounting for 80% of solar PV and EV battery manufacturing jobs globally. Skill shortages are as significant a bottleneck as lack of investment or supply chain constraints, so how can the industry ensure there’s enough people to build, maintain and design clean energy infrastructure?
On the show today, David Banmiller is joined by Caleigh Andrews, Energy Analyst and Modeller at the International Energy Agency. The IEA emphasises the need for clear policies that drive demand for clean technologies, in order to attract and retain skilled labor. Reskilling and attracting new people to the energy workforce require a combination of market incentives and political will, so what are these incentives? And what can governments do to incentivise reskilling?
AI can play a role in easing the skilling burden and establishing standardised credentials, but with manufacturing and maintenance a large part of it, are the use cases for AI limited?
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Recent legislation in the US promises to be a boon for geothermal energy production.
In January, the US House Energy and Commerce Committee passed a bipartisan bill that could have a big impact on the geothermal sector. Effectively putting geothermal on the same footing as oil and gas - by excluding geothermal development from strict NEPA rules – the bill could cut the red tape and boost production in the sector.
Geothermal has a lot of potential. The DOE estimates it could contribute almost 10% of US energy capacity by 2050. New geothermal technology, which uses horizontal drilling to drill multiple wells into geothermal reservoirs from a single location, is a promising start, but more innovation is needed to become cost competitive.
Joining David to discuss the legislation, and the technology that underpins the geothermal sector, are Dr Joseph Moore - Research Professor at the University of Utah and Managing Principal Investigator at Utah FORGE, a geothermal research facility managed by the Energy & Geoscience Institute at the University of Utah, and sponsored by the DOE – and Lauren Boyd, Director of the EERE’s Geothermal Technologies Office, which is sponsoring the Utah FORGE laboratory.
Together they examine the cost, operation and scope for geothermal energy in the US.
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The traditional process of battery development is slow, expensive, and capital-intensive. AI can help overcome the challenges of predicting battery performance, exploring the vast design space, and conducting time-consuming cycle life testing. David Banmiller is joined by Alán Aspuru-Guzik, a professor at the University of Toronto specializing in Chemistry and Computer Science, and Jason Koeller, the CTO and Co-founder of Chemix, to examine the role of machine learning in EV battery development.
Chemix is exploring new ways of developing batteries for electric vehicles (EVs) by utilizing AI, aiming to make it faster and more efficient compared to the traditional, slower, and costlier methods. AI not only speeds up the development process by predicting performance and exploring design options, but also – as Professor Aspuru-Guzik explains - leads to innovative battery compositions that improve performance. The machines can do calculations in timeframes inconceivable for a human.
There are wide-ranging applications for AI in areas beyond battery development, including grid optimization and materials design. Professor Aspuru-Guzik shares insights into the work of the Acceleration Consortium, which aims to be a leading hub for AI-driven scientific advancements in various sectors. Jason addresses some of the practical challenges in the EV industry, such as the need for adaptable battery solutions and the hurdles in introducing new manufacturing technologies. Technological advancement in battery technology and charging infrastructure are progressing together, enabling growth in the EV market.
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What’s the outlook for low-carbon hydrogen in 2024?
Green hydrogen energy, by now well-regarded as a critical component in the energy transition, is still faced with significant challenges. It’s anticipated to significantly contribute to energy needs, with projections suggesting it could supply up to 35% of the UK's energy by 2050, and there's a push in the US to dramatically reduce hydrogen production costs. The sector is experiencing rapid growth with many projects in development but reaching the Final Investment Decision (FID) stage is a key hurdle, especially in the current economic climate of high interest rates and inflation. The sector is trying to manage high initial costs and a tendency for investments to favour blue hydrogen, which is currently more cost-effective.
To discuss the hydrogen market, and the policy and financial decisions to be made to accelerate the rollout, David Banmiller is joined by Murray Douglas and Vicky Paley. Murray is responsible for Wood Mackenzie’s global hydrogen and ammonia research, while Vicky heads up project delivery at Protium Green Solutions.
Together they look at the updates in legislation, permits and overall government policy we’ve seen in the last 6 months and can expect this year. The US, for example, has set definitive treasury rules to give a bit more clarity to the industry.
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The impact of Artificial Intelligence in energy management.
We're at a crossroads in the world of energy. The landscape is shifting with the increasing role of renewables, growing demand and the need for resilience against extreme weather. How do we manage power effectively to keep the grid stable and efficient? Using AI to manage demand is one possibility. The role of artificial intelligence in energy management is an exciting development. It's set to transform how we predict, price, trade and use power, all while boosting efficiency and reliability.
Managing the grid is like solving a complex puzzle in real-time. The old grid, built for predictable loads, now grapples with erratic consumption and the fickleness of renewables like solar and wind. AI steps in here, using data and machine learning to improve efficiency and strengthen the grid. AI outperforms traditional models in forecasting. While these conventional models are valuable, they often miss the finer details which can lead to forecast errors. AI, on the other hand, adapts rapidly to real-time changes, enhancing the predictability of supply and demand at a detailed level.
For the first Interchange episode of the year, David Banmiller welcomes David Miller from Gridmatic to discuss the ever-evolving use of AI in grid management.
Together they explore how AI is transforming strategic forecasting, risk management and optimisation in energy infrastructure. What are the current challenges for the grid and how could AI help? What investment is required in infrastructure to optimise the grid? And what are the regulatory measures in place that are helping and hindering the rollout of smart grids?
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Bridging the gap and overcoming barriers in CCS expansion
It's no secret that achieving net-zero emissions requires a significant reduction in the use of fossil fuels. As the world looks to alternative energy sources to combat climate change, carbon capture and storage (CCS) emerges as a key technology enabling industries to decarbonize. By capturing carbon dioxide (CO2) emissions at their source and storing them underground, CCS can significantly mitigate the environmental impact of industries that are otherwise hard to green, such as cement production and power generation.
The International Energy Agency (IEA) has set an ambitious goal for CCS, expecting it to capture around 6 billion tons of CO2 by 2051 with notable advancements within the coming years. Innovations in CCS technology aim to address concerns of scalability and cost, making it more accessible and financially feasible for industries to adopt.
Aker Carbon Capture is a provider with some major projects underway, and they’ve signed an MoU with Microsoft to pursue joint innovation in the space. David Banmiller sits down with Microsoft’s Ole Henrik Ree, and Aker Carbon Capture’s Hanne Rolen, and David Phillips, to discuss the crucial role played by CCS in achieving a more sustainable future.
We conclude with a discussion about the 'Carbon Capture as a Service' (CCaaS) model, a shift aimed at enhancing accessibility and practicality, and the journey towards achieving net-zero emissions.
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Tackling the global textile waste challenge.
The fashion and textile industries are at a pivotal point, urgently needing to incorporate sustainable practices, particularly in textile recycling. With the industry's shift towards synthetic materials like polyester, there's a significant challenge in handling the large quantity of textile waste, estimated at 92 million tons globally every year. Emerging chemical textile recycling technologies, especially those focusing on common polyester-cotton blends, are key to reducing waste and decreasing reliance on new raw materials.
This has major implications for the circular economy; if you can reduce textile waste to zero then the techniques could theoretically be used across other manufacturing sectors. To discuss this, David Banmiller is joined by Toby Moss and Erik Koep from Worn Again. Worn-Again focuses on recycling polycotton blends, which make up 80% of all textiles.
Erik and Toby explain how they navigate the intricacies of recycling materials in a world where the average garment contains multiple fabric blends, often with less than 1% of unknown materials. What strategies are they employing to expand their technology's reach, considering the scale of this global challenge?
The use of polyester in textiles is almost as widespread as the use of plastic bottles in Europe. Effective recycling methods for these widely used materials are essential in reducing environmental impact, marking an important stride in changing the industry's waste management and sustainability strategies.
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COP28 gets underway next week. 7 years on from the Paris Agreement, and a global stocktake of decarbonization efforts lies ahead. Collective action is crucial, as is an exponential increase in these efforts; current policy is not enough to limit warming to 1.5 degrees C.
David Banmiller is joined by Angela Wilkinson, CEO of the World Energy Council, to discuss the actions and pledges the world needs to see from the summit. She highlights the need for optimism in tackling the climate crisis. Geopolitical complexities across the world add to the challenge, creating what’s known as the energy trilemma (a term coined by the WEC nearly 20 years ago). Joining David and Angela to explore the issues of energy security created by geopolitical tension is Elena Belletti, Head of Carbon Research at Wood Mackenzie.
Together they look at the accountability of government and corporations with high emissions profiles, changing societal and even economic norms, and the technology (like CCS) which could form most of the debate.
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Recycling plastic into feedstock is a crucial piece of the energy transition puzzle. We use a lot of plastic – 380 million tons of it is produced every year. Reducing the amount of fossil fuels used in its production, and minimizing waste going into landfill is crucial as we accelerate towards net zero.
Plastic Energy is a plastic producer who are leading this charge. In this week’s Interchange: Recharged, David Banmiller sits down with Adela Putinelu, Head of Policy and Sustainability at Plastic Energy.
They talk about the technology used to turn end-of-life plastic into feedstock for the production of new plastic products.
How can we create a circular economy with recycling? What part will it play in the energy transition, and where is the demand for 100% recycled plastics?
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New forecasts for weather patterns could help the solar and wind industries make better investment decisions in the long term.
Climate trends are accelerating rapidly. Global temperatures hovered consistently at around 1.5 degrees above pre-industrial levels from January to August. Then in September, they shot up to 1.8 degrees. Dr Zeke Hausfather, research scientist at Berkeley Earth, opined in a recent NYT piece that global warming has actually accelerated in the last 15 years, rather than continuing at a gradual pace.
The effects of climate change are no longer something for the next generation to worry about; they’re being felt here, and now. As a result, it’s crucial to deploy renewables as quickly and efficiently as possible. This involves continuing to invest in the two largest sectors – wind and solar.
There’s a strong correlation between the effectiveness of these energy sources and the weather predictions we make to inform our long-term planning and investment decisions.
Anticipating and planning for variability in supply and demand comes from analyzing historical weather and climate data.
On the Interchange Recharged today, David Banmiller is joined by Rob Cirincione, founder and CEO of Sunairio. They have a model which they say can make better predictions for solar and wind demand and supply, helping the industry to make better investment decisions and deploy more quickly.
Traditionally, historical data has been the primary tool for making predictions about future weather events and their possible impact on supply-demand imbalances. Historical data has its limits and does not always provide an accurate representation of future weather events. With climate change accelerating faster than we thought, and with a limited amount of historical data available, there’s a need for modeled projections to fill this gap.
For instance, in the solar industry, historical average models like the typical meteorological year (TMY) are used to predict future performance and returns. However, the assumption that the climate is the same as it was when the model was developed is flawed. Therefore, it's essential to continually measure and observe the impact of climate trends on irradiance and thus, the performance and returns of solar projects.
Rob explores with David the tools used to predict weather-driven variability in energy, what the solar industry currently uses to predict long-term performance, how to apply the predictive model Sunairio is developing to make better investment decisions, and how progress with decarbonization efforts could impact future forecasts.
Subscribe to the show on your podcast platform of choice and visit woodmac.com/podcasts to listen back to previous episodes. Join in the conversation on X – we’re @interchangeshow
00:00:00: Introduction to the show
00:00:01: Rob's career and the start of Sunairio
00:00:06: The weather's impact on energy supply and demand
00:00:37: Tools used to predict weather-driven variability in energy
00:01:01: The limitations of using historical weather data
00:01:47: The reason for creating Sunairio
00:02:02: Sunairio's role in the industry
00:03:18: Investment analysis and planning in regards to weather events
00:03:32: Current practices in solar industry
00:04:38: Flaws in using historical data for future predictions
00:07:18: The impact of changing climate trends on the solar performance
00:09:02: The importance of this analysis for investors and project managers
00:09:30: The risk of production underperformance in renewable projects
00:10:49: Sunairio's use of statistical climate model for predictions
00:11:16: Discussion on weather forecasting and its impact on energy production
00:12:20: Using statistical approach in climate modeling for energy production
00:12:42: Applying the predictive model in decision-making
00:14:27: The forecasted production gap and how it affects renewable energy goals
00:16:13: Coverage and capabilities of the modeling system
00:17:49: Expansion and future expectations for the renewable energy markets.
00:20:01: Geographical challenges and solutions in energy production
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Carbon capture, utilization and storage is evolving rapidly from a niche market to a mainstream investment theme. To explore the technology, financing and science behind this key piece of the energy transition puzzle, industry leaders and analysts met in Houston for Wood Mackenzie’s CCUS Conference.
The Interchange Recharged was there, capturing the best conversations and debate from a packed day of discussion. There was so much to unpack, we couldn’t fit it all into one podcast, so here’s part two of our special broadcast from the conference.
There is push in the industry for collaboration between emitters and sequestration, but also between government and policy with permitting. It’s a complex task, but vital for developing CCUS infrastructure in as efficiently as possible.
First to join David in the studio was Melany Vargas – VP, Head of Hydrogen Consulting at Wood Mac. There are mutual implications between hydrogen and CCUS; hydrogen, as a clean energy alternative will replace existing energy sources. CCUS allows for the continued use of these, while theoretically removing the harmful emissions. Blue hydrogen in particular has a value: you’re producing a product with commercial value. That creates the impetus for the application of CCS – you need to justify investment in those harder-to-abate other sectors.
Following the examination of hydrogen, David sat down with Brandon Bromberek, Vice-President of oil and gas measurement solutions at Emerson Automated Solutions. Brandon looks at the impact of the IRA, with fiscal momentum helping to make projects more economic, and the shifting in political direction to stand behind carbon capture as a whole.
Together David and Brandon explore the regulation around the world – Canada seem to be further ahead than anyone else. Why?
Carl Fortin is Global Business Manager, carbon capture and storage at ExxonMobil Low Carbon Solutions. He sat down for a Fireside chat during the day, focused on developing a robust CCUS portfolio. He joins David on the podcast today to explain more about it. We’re behind as a society in trying to get to the pace necessary to meet our ambitions for decarbonization, says Carl. How can we improve value chains to accelerate decarbonization?
Finally, Tom Nelson from Compact Membrane Systems joins us to explore the biggest challenges in the industry, and how partnerships between engineers and energy producers needs to improve to speed up the rollout of CCUS projects.
Don’t forget to subscribe to the show and check out part one of our special live broadcast from the conference in Houston, with insight from Lazard, Chevron New Energies and Endress+Hauser.
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We’re facing a triple crisis: energy security, deadline for decarbonization and a fragile global economy. We’re at a pivotal moment where sustainable commitments can become a reality, now that technology has aligned with intention. We’ve seen extreme weather across the globe in the past few months, and it’s only going to increase in frequency. Mitigating these risks, strengthening the grid and reducing emissions to limit the warming are all vital.
On the Interchange: Recharged today, David Banmiller is joined by Bala Vinayagam, Senior Vice President of Microgrids at Schneider Electric, and Jana Gerber, North American Microgrid President, also at Schneider.
Electricity 4.0 is the foundation of a digitized, modern and electrified grid. It’s a principle that transforms how we source, transmit and consume energy. Bala and Jana explain to David the importance of Electricity 4.0, and the ways it uses existing technology to implement ever-evolving solutions to climate change. Electricity 4.0 focuses on four key pillars, detailed in today’s show.
Decarbonisation
Centering on reducing greenhouse gas emissions and creating a decarbonized economy, strategies for this include electrifying more sectors of the economy and employing renewable energy sources to generate electricity.
Digitization
The second aspect, digitization, revolves around the deployment of digital technologies to better monitor energy usage. The goal is to leverage data collected through artificial intelligence, big data, and the Internet of Things to improve the efficiency and resilience of existing infrastructure. The untapped efficiency of the current infrastructure can be harnessed through comprehensive digitization, offering potentially transformative benefits.
Decentralization
Electricity 4.0 emphasizes decentralization. Currently, the electrical infrastructure relies heavily on bulk generation and large transmission infrastructure. Decentralization ensures more distributed generation and storage behind the meter, which simultaneously improves the resilience of the grid and generates a greener infrastructure.
Democratization
This is all about empowering consumers to play a more active role in the energy system itself. The aim is for consumers to participate through demand response programs, energy efficiency measures, and deploying distributed generation and green infrastructure behind the meter. This concept transforms energy consumers into "prosumers", actively participating in energy production alongside consumption. Jana explores the concept of a prosumer – it’s a term David has heard thrown about a lot in recent weeks.
The future of sustainability depends on electrifying and digitizing our energy grid. Through digital twin interfaces, online exchanges and marketplaces, Schneider is constantly innovating to empower all to make the most of our energy and resources
Learn more about Electricity 4.0 and microgrids here: www.se.com/us/microgrid
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Carbon Capture, Utilization and Storage is evolving rapidly from a niche market to a mainstream investment theme. To explore the technology, financing and science behind this key piece of the energy transition puzzle, industry leaders and analysts met in Houston for Wood Mackenzie’s CCUS Conference.
The Interchange: Recharged was there, capturing the best conversations and debate from a packed day of discussion. Across two full episodes, David Banmiller brings you the thoughts and insights from industry experts, as they examine the potential for CCUS to solve some of our biggest challenges in decarbonizing. Will it be the key to decarbonizing hard-to-abate sectors? How much more development does the technology need? And where does the carbon actually go once it’s captured or sequestered?
David kicks things off with the opening remarks from Wood Mac’s head of CCUS research: Mhairidh Evans. She explores the current state of the market and highlights some of the existing CCUS infrastructure and projects around the world that are leading the way.
George Bilicic, Vice Chairman of Investment Banking, Global Head of Power, Energy & Infrastructure at Lazard is joined by Ed Crooks, Vice-Chair Americas at Wood Mackenzie, as they look at the regulatory environment for CCUS activities, and the complex route of finalizing financial decisions (FID) for projects.
Tim Duncan from Talos Energy, and Chris Powers from Chevron New Energies are next to join David in the podcast studio, fresh from a panel discussion on stage in which they looked at the opportunities for corporates in the CCUS space. What are the challenges for operators? What are the key needs to scale a CCUS business?
There’s an interesting link between green hydrogen and CCUS; this partnership is explored in depth by David’s next guest Mercy Renteria, National Business Development Manager of Hydrogen and CCS at Endress+Hauser. Mercy’s background in oil and gas, and transition to green technology operation, is indicative of the wider shift across the industry. She stresses the need for collaboration in reaching net zero: as David says often on the show, the energy transition will need a multitude of technologies, working in tandem to achieve net zero.
Don’t forget to subscribe to the show, and check out part two of our special live broadcast from the conference in Houston, with insight from Exxon Mobil, Wood Mackenzie, Emerson and Compact Membrane Systems.
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Alight is a company riding the solar-coaster and enjoying the heights.
In November 2021, David Banmiller sat down with Harald Overholm, co-founder and CEO of Alight.
The focus of that discussion was on the emergence in popularity of Power-Purchase Agreements, in the solar sector. Alight, as one of the biggest providers in the Nordics, was looking to continue expansion throughout Europe. Since then, there’s been exponential growth and evolution in solar, and the way businesses and homes source that energy.
In November 2022, Alight raised about €150 million to expand their operations. This was a major milestone for the relatively small company at the time. Managing to secure equity in the market, they worked with various partners, ultimately partnering with an infrastructure fund, DIF.
DIF, being one of the leading mid-market infra funds specializing in renewables, was instrumental in driving the company to expand its team and strategically take control of certain projects.
Alight's key play was transitioning their role from being developers to becoming an independent power producer. As a PPA, Alight gained the ability to select which projects to develop, devise strategies to monetize them, and ultimately derive profit. This significant shift has been a cornerstone of their recent progress.
The solar industry, as it expands quickly, provides opportunities, but it also presents potential obstacles. A primary concern, as Harald explores with David, is the heavy reliance on China for polysilicon production, a foundational component of solar cells. This poses potential supply chain risk, fuelling the argument for diversifying polysilicon production.
While challenges might lie ahead, the surge of interest from investors, the potential of new enhancing technologies, and the increasingly favourable view of solar power are a key part of the energy transition that keeps the industry optimistic.
The key to sustained success lies in the ability of companies like Alight to ride the high times and the low times. With the right balance of financial backing, strategy, and a focused vision, solar energy companies are poised to illuminate the path towards a greener future.
For more on this topic, check out the recent episode of the Energy Gang, our sister podcast which you can find here: https://www.woodmac.com/podcasts/the-energy-gang/riding-the-solar-coaster/
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A new linear generator could be the answer to the risks of extreme weather.
The prospect of an extended blackout during a heat wave is not only alarming, but a potential public health emergency. According to a recent report in the New York Times, 800,000 residents would require hospitalization if a major heatwave coincided with an extended blackout. The study, conducted by the Journal of Environmental Science and Technology, made clear the need for reliable energy storage.
Advancements in technology are helping to mitigate the risk, with modern batteries improving their lifespans from two to four hours to a more robust eight to ten hours. Experts even predict reaching a milestone of 100-hour battery life in the near future. However, nature doesn’t keep time like we do, and extreme weather can cause outages that outlast even these improved capabilities. So how can we protect our cities and ensure sustained power during these disruptions? The answer lies in developing technologies that transition long-duration storage capacities from hours to days and beyond. The Mainspring Linear Generator, developed by Mainspring Energy, a Silicon Valley-based startup, could be one of the answers to the storage challenge.
David Banmiller is joined by Mainspring CEO Dr. Shannon Miller, a Stanford alumna with a PhD in mechanical engineering.
The Mainspring Linear Generator has raised over $530 million in funding from cleantech investors and demonstrates the potential of innovative solutions in accelerating the shift towards a net-zero carbon grid. Shannon explains how it uses different types of fuel - including conventional types like natural gas - and clean fuels such as hydrogen and ammonia.
To explore the wider trends and challenges around long-duration storage, Dr Melissa Lott also joins us on the Interchange this week. Melissa is Director of the Center on Global Energy Policy at Columbia University, and she talks about the risks of gaps in power access, energy cost spikes and reliability issues. One of the key changes seen in the storage market is the separation of storage and generation solutions. As fossil fuel-based generators wind down, finding reliable and sustainable alternatives to provide reliable power becomes increasingly important.
Incentives and regulatory frameworks are integral to fostering the energy transition. Currently, however, specific types of storage, like electrochemical or thermal storage, are often prescribed in state mandates instead of leaving room for innovative alternatives. Therefore, there's a growing need for technology-neutral policies that accommodate various kinds of storage, including clean fuels.
If you haven’t already, check out our sister podcast, "The Energy Gang," which offers biweekly insights into the latest and biggest energy stories. Subscribe to the Interchange Recharged so you don’t miss an episode, out every second Friday at 7am ET.
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280 million EV’s worth of battery material is sitting on the ocean floor, but do we need to mine it?
The end is nigh for the internal combustion engine. Electric vehicles will be phased in across the next decade, with two-thirds of vehicles sold in the US by 2032 mandated to be electric. In California, 100% of cars will need to be electric by 2035. As a result, demand for the critical metals that are needed for EVs is forecast to increase significantly.
Every solution creates its own challenges. Electrification is one of the answers to the net zero question, but it’s created an issue in itself – where are we going to get the minerals?
On this episode, host David Banmiller is joined by Gerard Barron, CEO of The Metals Company. They estimate that there are quantities of metals equivalent to 280 million EVs (comparable to the total US fleet today), sitting on the seabed. Deep see mining is a new frontier – but do we need to start scouring the ocean floor when there’s an abundance of metals on the surface? How ecological is the practice?
Also joining the discussion to answer these questions is Robbie Diamond, Founder, President and CEO of SAFE. SAFE is an advocacy group for US energy security and economic resiliency by reducing dependency on overseas energy supply. They work to ensure that the US and allies secure key aspects of the technology supply chain.
Deep sea mining represents a significant opportunity to alleviate supply chain constraints. The mining, done in international waters, presents a few advantages: minimal impact on ecology (though this is debated, and addressed on the show today), avoidance of issues related to cross-continental delivery and rapid utilisation of resources due to lack of infrastructural hurdles.
Despite the potential of deep sea mining to diversify supply chains, there has been some resistance from NGOs and other conservation groups who are hesitant about the potential environmental impacts. Understanding the benefits of deep sea mining and, as we do on the show, confronting its potential drawbacks is crucial.
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The energy transition can’t be solved simply by focusing on infrastructure, digital solutions or investment alone. These three parts of the puzzle need to fit together.
The federal government recognises this; at the end of June the Environmental Protection Agency, funded by the IRA, dedicated $7 billion to community solar projects. These projects will focus on supplying solar to lower-income neighbourhoods. This paradigm shift to the community and individual consumer level is welcome news to Michael Pinto, CEO of CleanWatts.
They’re a cleantech company focused on the local energy market – utilising the power of solar farms and AI to provide clean energy to communities. Based in Portugal, they’ve seen a significant increase in community-based renewable energy initiatives. What lessons have they learned in Europe that can be replicated in the US?
Host David Banmiller guides us through a conversation to answer exactly that. Michael explores some of the major stumbling blocks and hurdles facing communities trying to access solar power, and how CleanWatts and others are overcoming them.
In addition to looking for ways to improve energy efficiency, CleanWatts also perceives AI as an essential tool in managing and predicting future energy needs. These digital innovations enable a higher level of control, providing a more stable and resilient grid system in the face of the huge changes the energy transition places on the existing infrastructure.
Two significant challenges that the industry faces are regulatory frameworks and supply chain dependencies. Speedy regulatory approvals for local energy generation constructs are critical to accelerating the energy transition. The latest announcement of funding from the US government could be a significant step on this path.
Coupled with mass-scale infrastructure solutions, local demand-side activation needs to grow rapidly.
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- Visa fler
