Miguel Lourenço’s Post

Renewable energy continues to showcase its competitiveness against fossil fuels, as highlighted in the latest report by the In International Renewable Energy Agency (IRENA) at the Global Renewables Summit. In 2023, a staggering 81% of newly commissioned #renewable projects boasted lower costs compared to their fossil fuel-fired counterparts, with #solar #PV leading the charge with costs plummeting to around four US cents per kilowatt hour. The cost decline in #solar and #wind #technologies, along with the socio-#economic and #environmental benefits of renewable energy, are undeniably compelling. Since 2000, global renewable power deployment has saved up to USD 409 billion in fuel costs, underlining the financial advantages of embracing renewables. IRENA's Director-General emphasized that renewable power's competitiveness is not just a trend but a long-term reality, driven by consistent policy support leading to technology advancements and cost reductions. https://lnkd.in/dyac-gvJ

Aiming to triple global #renewable #energy capacity by 2030 and reduce fossil fuel use is within reach, according to the International Energy Agency (IEA). Addressing challenges like permitting and #grid connections is crucial to achieving this ambitious #goal. Leaders from #government and #business are gathering at New York Climate Week to drive action against #climate change. At #COP28 in #Dubai last year, nearly 200 countries committed to achieving net zero emissions from the #energy sector by 2050 and tripling renewable energy capacity such as #wind and #solar. The International Energy Agency (IEA) highlights that while the renewable energy target is achievable due to favorable "economics and strong "policies, increasing renewable capacity will not automatically lower #fossil #fuel usage and #consumer #costs. For the tripling goal to realize its full potential, countries must focus on constructing and upgrading 25 million kilometers of electricity #grids by 2030. Additionally, the world will require 1,500 gigawatts (GW) of energy #storage capacity by the same year. Concerted efforts and significant #investments are essential to propel the transition toward a #sustainable energy #future. By Susanna Twidale for Thomson Reuters https://lnkd.in/dfsVgMbx

Who’s right about the #future of #work? An optimist believes in the potential of #technology to lead us into a post-scarcity age, enriching us and taking on menial tasks. On the other hand, a skeptic argues that advancements like #AI will boost productivity, creating new and improved #job opportunities. Meanwhile, a pessimist warns of the potential negative impact of #automation on #labor #costs and workers' conditions, advocating for degrowth over #economic expansion. The debate raises an essential question: who holds the key to the future of work - the optimist, the skeptic, or the pessimist? Which perspective resonates more with you? Join the conversation and share your thoughts on the evolving landscape of work in the age of technology. Great read by Nicky Dries, Joost Luyckx and Philip Rogiers for Harvard Business Review https://lnkd.in/dznN38dy

New report about the current status and perspectives on #energy, by McKinsey & Company. While progress has been made since the Paris Agreement, the global #energy transition faces new challenges. To achieve its #goals, urgent action is crucial, and the pace of #change must accelerate. Balancing #clean energy with #affordability and energy #security is key amid rising #costs and #complexity. The Global Energy Perspective 2024 provides essential #data for #stakeholders to meet #decarbonization goals and offers scenarios to address changing global conditions. The focus is on achieving net-zero goals and mitigating #climate change impacts by transforming the global energy system holistically. This transformation requires a range of proven and emerging #strategies beyond just #technology, considering factors like #capital deployment, #business cases, #regulation, and #political support. #EnergyTransition #ParisAgreement #ClimateChange #GlobalEnergyPerspective2024 https://lnkd.in/dTEs9hM8

#Greenhouse gases play a crucial role in trapping heat in the #atmosphere, with some being significantly more potent at warming the #planet than carbon dioxide. Despite often escaping in small amounts, gases like SF6 and other fluorinated gases add to the challenge of addressing #climate change. Stay informed with this quick cheat sheet by Casey Crownhart, for MIT Technology Review, on the most important greenhouse gases you need to know about. #ClimateChange #GreenhouseGases https://lnkd.in/dMJXppGE

Sometimes in #politics, surprises can lead to significant impacts. As #America commemorates the second anniversary of the Inflation Reduction Act (#IRA), it becomes evident that unexpected decisions can shape the future. The #IRA, introduced by President Joe Biden, focuses on reducing #carbon #emissions by offering substantial subsidies for #renewable #energy #technologies. While initially viewed as a move to please Democrats, it has emerged as a pivotal step towards a #greener #economy, despite its misleading name. The pushback from opponents, including Donald Trump's team, only underscores the #strategic value of this legislation. Interestingly, data reveals that a significant portion of the created #jobs and #investments from the IRA have benefited districts and states that opposed its implementation, showcasing the, let's say, nuanced outcomes of #political maneuvers. #Politics #RenewableEnergy #EconomicImpact Read more on the article by Gillian Tett for the Financial Times

The #energy transition is in its early stages, with about 10 percent of the required deployment of low-emissions #technologies by 2050 achieved in most areas. Creating a low-emissions system, even while expanding energy access globally, would require deploying millions of new #assets. Progress has occurred in some areas, but thus far has largely been in less difficult use cases. Read more about this in the Report "The hard stuff: Navigating the physical realities of the energy transition" by McKinsey Global Institute at the link below: https://lnkd.in/dXqHAMzr

German utility EnBW Energie Baden-Württemberg AG commits 1 billion #euros to build #pipelines for #clean #hydrogen transport, part of a nationwide #grid to be operational by 2032. #Germany leads the #EU's #green #energy shift, with a focus on green hydrogen as a fossil fuel alternative. The country's robust #industry and #economy drive this transition, pushing for competitive products with reduced carbon footprints. Amid energy supply challenges post-#Ukraine crisis, Germany's #research and #development efforts position it as a key player in hydrogen innovation. #Germany #CleanEnergy #HydrogenTransition 🇩🇪🌿 Read about this in this article (https://lnkd.in/e9W4YZXe) by Vera Eckert for Reuters.

#Emissions from fertilizers, a hard-to-abate industry, surpass emissions from aviation and shipping combined, according to ATOME #CEO Olivier Mussat. The University of Cambridge's 2023 study reveals 48% of the world's #crops rely on #synthetic #fertilizers. Addressing fertilizer emissions is crucial for achieving global net zero goals by 2050. #Green #fertilizer, produced using renewable energy sources, significantly reduces the carbon footprint compared to traditional methods. #FertilizerEmissions #NetZero2050 #GreenFertilizer Read more in this article by David Blackmon for Forbes https://lnkd.in/e8F_s3rz