EGEB: Natural gas growth slows, green energy grows in 2020
In today’s Electrek Green Energy Brief (EGEB):
- Natural gas growth is expected to slow in 2020, while green energy is expected to grow.
- Investment giant BlackRock is pulling out of financing thermal coal.
- Indonesia gets its first floating solar system.
The Electrek Green Energy Brief (EGEB): A daily technical, financial and political review / analysis of key news about green energy.
Natural gas is slowing down, green energy is growing
The US Energy Information Administration (EIA) today predicts that natural gas generation in the electricity sector will increase 1.3% by 2020 – the slowest growth rate since 2017. Also, coal-fired power plants are forecast to decline 13% in 2020. Both natural gas as well as coal are fossil fuels.
According to the EIA, green energy – sun and wind – is expected to grow by 20%. Especially in Texas, which leads the US in the wind, a strong jump in wind and sun is expected.
For the year 2021 it says in the EIA:
The EIA assumes that these trends will continue through 2021. The EIA predicts that U.S. non-hydropower renewable generation will grow 17% over the next year as the power sector continues to expand solar and wind capacity. This increase in renewable energies, together with the projected increase in the cost of natural gas fuels, contributes to the EIA forecast that natural gas-fired generation will decrease by 2.3% in 2021. U.S. coal production in 2021 is projected to decrease 3.2%.
BlackRock gives up coal
BlackRock, the world’s largest investment manager, announced that it will no longer invest in thermal coal. It also said it will drop directors of the company who don’t respond to financial risks posed by climate change.
As a result, the US investment firm will reduce investments in thermal coal by around $ 500 million.
According to the Guardian, BlackRock has announced several new changes to its investment approach, including:
Make sustainability an integral part of portfolio construction and risk management;
Exit investments that pose a high sustainability risk, such as B. Thermal Coal Producers;
Launch of new investment products for fossil fuel screening;
Reinforce our commitment to sustainability and transparency in our investment management activities.
BlackRock has joined Climate Action 100+, a group of asset managers that pressures the biggest polluters to cut their emissions in order to respond to the climate crisis.
Floating sun for Indonesia
Indonesia gets its first floating solar project. Construction will begin immediately and is expected to be operational in 2022. It is expected to be the largest floating solar project in Southeast Asia.
The 145 MW project will be built on a 2.25 square kilometer plot of the 62 square kilometer Cirata Reservoir in West Java.
The Abu Dhabi Future Energy Company (Masdar) and the Indonesian electricity company Perusahaan Listrik Negara (PLN) will develop the project.
The United Arab Emirates’ Minister of State and Masdar Chairman Sultan Ahmed Al Jaber said [via Construction Week]::
Leveraging innovative solutions like this floating solar PV project will be critical [Indonesia] Achieving its renewable goals and supporting its sustainable growth.
Indonesia is ideal for floating solar energy. It consists of more than 17,000 islands, 521 natural lakes and more than 100 reservoirs.
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