COPA-DATA’s Post

Without #ElectricVehicles, solar, wind, and nuclear, the global rise in emissions in the last five years would have been three times larger, new International Energy Agency (IEA) analysis shows. Looking forward to the continued growth of #renewableenergy this decade. https://lnkd.in/gjENGqvW

'The IEA’s latest World Energy Outlook 2024 shows solar overtaking nuclear, wind, hydro, gas and, finally, coal, to become the world’s single-largest source of electricity by 2033. This solar surge will help kickstart the “age of electricity”, the agency says, where rapidly expanding clean electricity and “inherently” greater efficiency will push fossil fuels into decline. As a result, the world’s energy-related carbon dioxide (CO2) emissions will reach a peak “imminently”, the IEA says, with its data indicating a turning point in 2025.'

There are two bottlenecks to rolling out Advanced Nuclear at scale, which we will need lots of, alongside renewables, to fully decarbonize the energy supply to the global economy. The first is a permitting bottleneck - it is laborious and expensive to gain permits to deploy nuclear around the world. We addressed this at length at #CERAWeek this week and believe we can significantly enhance the speed and scale of the industry's permitting operations with targeted use of specialist Generative AI. Congratulations and well done to Henning Kilset, Neeraj Joshi, Darryl Willis and the whole team at #CERAWeek and behind the scenes to light up the impactful technology on show. The second bottleneck is the deadlock between the capital required to build mass-manufacturing capacity for SMRs and the need for a book of orders for SMRs which the manufacturing capacity would crank out. The announcement below is intended to go some way to removing this bottleneck - creating up front demand for Advanced Nuclear and other 24/7 Carbon Free energy sources so together we can push the cost boulder up and over the top of the mountain so it can begin rolling down the other side - achieving a virtuous cycle of lower costs, which stimulate higher demand, which increases economy of scale, which lower costs.. and so on. Similar to Solar's cost trajectory over the last 15 years. Congratulations to Taylor Leyden, Adrian Anderson and the team who worked on this, and to Terra Praxis, P. Todd Noe and others who have championed this direction of travel. COP28 in Dubai has been called the 'Nuclear COP' - the year the world woke up to the need and opportunity of new nuclear to meet the world's increasing energy demand with firm, clean power. I'm happy to say the same was true for #CERAWeek this year. There was a strong focus on nuclear throughout. It is clear that significant momentum is building around Advanced Nuclear. Let's get the bottlenecks cleared and realize the opportunity it is presenting us all. https://lnkd.in/eaEK72jT

Yes, what Conor Kelly said for the private sector. We also need our government leaders & regulators to modernize in kind. Imagine when the nuclear regulatory licensure pipelines are highly automated, inclusive of GenAI capabilities with humans in the proper loops for accuracy, safety and review. #Microsoft has done amazing work to bootstrap one element of automation with the NRC. We need more of this! Come on public sector, we need you to be part of the solution here, this is how you scale and partner to meet global demand.

Southeast Asia’s renewable energy potential is some of the greatest in the world. In bold pursuit of renewable energy, Vietnam is undertaking an unorthodox but promising green hydrogen strategy, Thailand’s Prime Minister has promised to explore the cutting edge of nuclear power, and the Philippines has received broad praise for its commitment to renewables and regional trend-setting. So, why is coal making a comeback in Southeast Asia, of all places? 🤔 https://lnkd.in/dhei3G6k

Battery storage becomes biggest source of supply in evening peak in California, the world’s fifth biggest economy and one of the world’s biggest grids. Pretty amazing that stationary storage overtook gas, hydro, nuclear and renewables as the biggest source of supply for a period of about two hours in the evening peak. About another 1.9 GW of battery storage capacity is in the process of commissioning, and the CEC estimates that the stage needs about 52 GW of battery storage to meet its 2045 goal of getting all of its power from carbon-free sources. The macro trend is unstoppable and critical metals will be essential to achieve the energy transition goals globally. #SouthStar #Graphite #Brazil #Alabama #CriticalMetals https://lnkd.in/ePsZVTga

Czechia, historically a strongly industrial country, has shaped its energy sector. The energy mix has significantly diversified, with the highest share still coming from fossil fuels. The integration of nuclear energy, following the construction of the first nuclear power plant in the 1980s, has led to a halving of CO2 emissions, a significant environmental achievement. Notably, there has been a substantial increase in energy generation from renewable sources, a commendable achievement for Czechia, with this value more than doubling in the past 15 years. Read more https://lnkd.in/dw2uwfrK #Statista

Some encouraging news outlining green energy’s ability to match growing demand for electricity in a recent report from the International Energy Agency (IEA), as outlined in this World Economic Forum article by Cristen Hemingway Jaynes.  “The power sector currently produces more CO2 emissions than any other in the world economy, so it’s encouraging that the rapid growth of renewables and a steady expansion of nuclear power are together on course to match all the increase in global electricity demand over the next three years,”- Fatih Birol, executive director of the IEA This growth in demand for electricity and energy storage will rely heavily on battery grade lithium production. Domestic and sustainable lithium refining capacity will help create energy security and unlock bottlenecks in the lithium supply chain. https://lnkd.in/dQFVMvEQ

SHORT TRAVELLED LOCAL ON-SITE STORAGE AND POWERSHARING REQUIRED: Renewable energy is attracting more investment WW. SIGNIFICANT BOTTLENECK has EMERGED: INADEQUATE POWER GRIDS. One estimate suggests that solar and wind facilities capable of generating electricity equivalent to 480 nuclear reactors remain unconnected to transmission networks in the U.S. and Europe. In Asia, the South Korean government rejected U.S. asset manager BlackRock's application to build an offshore wind farm in January, citing a lack of available grid capacity, according to local media. https://lnkd.in/dpApZjvt

The generation of clean electricity in Europe is setting records. In the 1st half of 2024, renewables made up more than 50% of all power generation in Europe while nuclear provided a stable share of 24%. Demand for power, however, remains low due to sluggish growth, deindustrialisation and mild weather.