Commentary

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IEEFA Australia: Afraid of the dark and clutching at coal, ESB still beating the capacity mechanism drum

Energy Security Board claims Dunkelflaute is a key reason for a capacity mechanism – where is the evidence?

The Energy Security Board (ESB) has cited periods of scarce wind and solar resources as a key reason to implement the contested capacity mechanism, which will see payments from energy consumers to primarily conventional power generators for their capacity to generate electricity, rather than for actually generating electricity. The ESB has claimed the market is […]

IEEFA Australia: Ahead on solar, woefully behind on distributed energy resource standards

Making the right technical decisions about DER

Despite being ahead on rooftop solar installs, Australia is behind other jurisdictions (like Germany and California) in putting sensible governance arrangements in place for distributed energy resource (DER) technical standards. DER technical standards – covering smart devices including rooftop solar systems, air conditioners, electric vehicle (EV) chargers, pool pumps and the like – are designed […]

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IEEFA U.S.: Surging generation from solar, wind on track to push renewable market share to 30 percent by 2026

Constant growth in renewable generation will push out costly coal and gas power

Data for the first eight months of this year show that wind generation has risen more than 25 percent since 2019 (pushing its market share to almost 9 percent) while utility-scale solar generation has jumped 55 percent (pushing its market share to nearly 3 percent). Combined, wind and utility-scale solar generation has gone up by […]

IEEFA: Will CEO Jane Fraser clean up Citi’s climate record?

As a former Citi executive, I know the bank could change course and lead again

In September 2007, with a mortgage crisis clearly on the horizon, Citigroup’s CEO Charles Prince III gathered with his top executives to understand whether the bank—then the nation’s largest—faced any risk. The consensus was no. How wrong they were. In a year’s time, Lehman Brothers crashed, triggering a global financial collapse. Citigroup lost 90% of […]

October 4, 2021 Read More →

IEEFA U.S.: Five questions for a House committee about Puerto Rico energy security

LUMA service failures raise serious questions about future of Puerto Rico grid

On Wednesday, the U.S. House of Representatives Natural Resources Committee will hold an oversight hearing on Puerto Rico’s electrical system and the LUMA Energy grid privatization contract. Since LUMA Energy took over the island’s transmission and distribution system operations on June 1, electrical service in Puerto Rico has deteriorated even further—including unacceptably long outage repair […]

October 1, 2021 Read More →

IEEFA U.S.: Another big pipeline project bites the dust—and FERC should take notice

PennEast Pipeline cancellation boosts case for change in commission policy

Yet another unnecessary pipeline—the PennEast project—has been cancelled after the Federal Energy Regulatory Commission (FERC) issued a permit for it. The incident provides compelling new evidence for FERC to adopt strong protocols to ensure a proper analysis of the need for a proposed pipeline project. FERC could have prevented wasted expenses, legal fees and effort […]

September 29, 2021 Read More →

IEEFA: As fossil fuel prices skyrocket globally, renewables grow steadily cheaper

Stability of renewables an antidote to the volatility of gas and coal

While volatile energy commodity prices have been sharply increasing globally, renewable technologies have been steadily decreasing.  Over the last decade, the cost of electricity from utility-scale solar PV has fallen by 85 percent, concentrating solar power (CSP) by 68 percent, onshore wind by 56 percent and 48 percent for offshore wind, according to the International […]

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IEEFA Australia: ‘Race to replace’ – We need to tie new energy capacity with the exit of old generators

There are many options to manage the energy transition that don’t involve capacity payments

Uncertainty in the national electricity market is driving investment risk, due to high levels of uncertainty around coal exits, short term market contracting, early mover disadvantage in power technologies subject to deflation, and unpredictable government intervention, among other things. The Energy Security Board’s capacity mechanism has been proposed as a solution to these challenges. It […]

IEEFA U.S.: Harvard fossil fuel divestment can serve as model for other institutions nationally and globally

Harvard divestment raises issue of climate, ethics and investments by higher ed and philanthropies

The recent decision by Harvard to divest from fossil fuels is part of a trend and also a precedent-setting event.  Earlier this year, BlackRock informed the New York City pension funds that the divestment movement is no longer limited to small investment funds. Its report found that an increasing number of large institutional investors are […]

September 22, 2021 Read More →

IEEFA China: President Xi Jinping’s profound United Nations General Assembly speech

Already the world’s leading investor in zero emissions industries of the future, now China pledges it will end international funding of coal

President Xi Jinping of China has made a profoundly important announcement overnight at the United Nations General Assembly in a speech titled: ‘Building confidence and jointly overcoming difficulties to build a better world’. “China will step up support for other developing countries in developing green and low-carbon energy, and will not build new coal-fired power […]

September 22, 2021 Read More →