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Wind turbines in Brandenburg, Germany.
Patrick Pleul | picture alliance | Getty Images

So-called “green” hydrogen production using onshore wind turbines could achieve price parity with fossil-based hydrogen by the year 2030, according to a white paper from Siemens Gamesa Renewable Energy.

In a statement on Wednesday the firm — a major player in wind turbines — also said that green hydrogen produced using wind from the offshore sector could achieve price parity by 2035.

The above scenarios were dependent on having “appropriate policy frameworks and market mechanisms in place,” the statement said. 

Siemens Gamesa’s white paper outlines four key areas to help drive costs down: increasing renewable energy capacity; creating “a cost-effective demand-side market for green hydrogen”; the development of a supply chain; and support for infrastructure.

“It took three decades for wind and solar to reach grid parity with fossil fuels, and we cannot afford to wait that long for green hydrogen to reach price parity with fossil-based hydrogen,” Andreas Nauen, the company’s CEO, said.

Described by the International Energy Agency as a “versatile energy carrier,” hydrogen has a diverse range of applications and can be deployed in sectors such as industry and transport.

It can be produced in a number of ways. One method includes using electrolysis, with an electric current splitting water into oxygen and hydrogen.

If the electricity used in the process comes from a renewable source, such as wind or solar, then some call it “green” or “renewable” hydrogen.

Currently, however, the vast majority of hydrogen generation is based on fossil fuels, and green hydrogen is expensive to produce.

In recent times, a number of major industrial firms have announced plans to integrate green hydrogen into their operations.

In addition, major economies such as the European Union have laid out plans to install at least 40 gigawatts of renewable hydrogen electrolyzers by 2030.

Efforts are also being made to drive costs down. On Monday the U.S. Department of Energy launched its Energy Earthshots Initiative and said the first of these would focus on cutting the cost of “clean” hydrogen to $1 per kilogram (2.2 lbs) in a decade.

According to the DOE, hydrogen from renewables is priced at around $5 a kilogram today. “Clean hydrogen is a game-changer,” U.S. Energy Secretary Jennifer M. Granholm said Monday, adding that it would help to “decarbonize high-polluting heavy-duty and industrial sectors.”

On Wednesday Ben Gallagher, who is lead analyst for emerging technologies at research group Wood Mackenzie, sought to highlight how the environment surrounding green hydrogen appeared to be changing.

“An increasingly dynamic low-carbon hydrogen market has seen a deluge of government support, corporate commitments, announced projects and even bystander intrigue over the past 18 months,” he said.

“We believe this activity amounts to a paradigm shift which will see green hydrogen — hydrogen created from the electrolysis of water using renewable energy — emerge as a key element of the energy transition,” he added.

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IEA downgrades oil demand growth forecast as prices heat up on elevated Middle East tensions

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IEA downgrades oil demand growth forecast as prices heat up on elevated Middle East tensions

An oil pumpjack is shown near the Callon Petroleum vicinity on March 27, 2024 in Monahans, Texas. 

Brandon Bell | Getty Images

The International Energy Agency on Friday downgraded its forecast for 2024 oil demand growth, citing “exceptionally weak” OECD deliveries, a largely complete post-Covid-19 rebound and an expanding electric vehicle fleet.

In its latest monthly oil market report, the IEA said it had revised down its 2024 oil demand growth forecast by around 100,000 barrels per day (bpd) to 1.2 million bpd.

The global energy watchdog said that it expected the pace of expansion to decelerate even further to 1.1 million bpd next year “as the post-Covid 19 rebound has run its course.”

The IEA’s report comes amid a rebound in oil prices on elevated Middle East tensions, with energy market participants closely monitoring the prospect of supply disruptions from the oil-producing region.

Iran, which is a member of the Organization of the Petroleum Exporting Countries, has vowed to retaliate after it accused Israel of bombing its embassy in the Syrian capital of Damascus earlier this month.

The attack has ratcheted up tensions in a region already grappling with the ongoing Israel-Hamas war. Israel has not claimed responsibility for the attack.

International benchmark Brent crude futures with June delivery traded 0.8% higher at $90.45 per barrel on Friday at 9:30 a.m. in London, while U.S. West Texas Intermediate futures with May delivery rose nearly 1% to trade at $85.84 per barrel.

“We’re seeing the surge in [electric vehicle] sales, especially in China and also in Europe, really taking into gasoline demand, but also in the United States,” Toril Bosoni, head of oil industry and markets division at the IEA, told CNBC’s “Street Signs Europe” on Friday.

“There has been a lot of talk about sales not increasing as much as maybe was expected, but EV sales and increased fuel efficiencies in the car fleet is lowering gasoline demand, at least in advanced economies and particularly in China.”

Asked about some of the main concerns relating to oil supply security, Bosoni replied, “We are watching, obviously, the Middle East very closely. The continued tanker attacks in the Red Sea is of key concern, but also escalating tensions between Iran and Israel, and then we’re seeing tensions between Russia and Ukraine continue, with attacks on Russian refineries.”

“So, there are several tension points in the oil market today that we’re watching very closely that could have major impacts … if there would be any significant outages,” she added.

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Tesla unveils new Sport Seats to absorb Model S Plaid’s insane power

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Tesla unveils new Sport Seats to absorb Model S Plaid's insane power

Tesla has unveiled new Sport Seats for the Model S Plaid to absorb the electric supercar’s insane power better.

While it’s in the form of a family sedan, the Model S Plaid could easily pass as an electric supercar with its 1.99-second 0 to 60 mph acceleration.

That’s more power than anyone would need, but it is fun.

Some Model S Plaid owners even like to take the fun to the racetrack. When cornering, you can really feel the Gs on the racetrack.

Tesla’s Model S seats are comfortable, but they are not designed for super-spirited driving, which the rest of the vehicle enables.

Today, Tesla decided to address the issue with the release of new Sports Seats:

They obviously feature much more pronounced side support. Here are the main features of the seats:

  • Increased lateral support
  • Modular seat architecture for comfort & support, plus same 12-way power adjust, heating & ventilation
  • High performance suede for increased grip & reduced weight

Here’s another look at the new seats:

The seats are now standard for the $90,000 Model S Plaid and included on all cars built since the beginning of the month.

Electrek’s Take

We had known new sports seats were coming to the new Model 3 Performance, which is expected to be unveiled any day, but it makes sense that the Model S Plaid would get them first.

The vehicle’s level of performance deserves sports seats.

I am surprised that Tesla is making it standard rather than a paid option, but we’ll take it.

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Daily EV Recap: China looks to export EVs by the hundreds of thousands

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Listen to a recap of the top stories of the day from Electrek. Quick Charge is now available on Apple PodcastsSpotifyTuneIn and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded Monday through Thursday and again on Saturday. Subscribe to our podcast in Apple Podcast or your favorite podcast player to guarantee new episodes are delivered as soon as they’re available.

Stories we discuss in this episode (with links):

Formula E again delays debut of 600kW mid-race charging

This lamppost EV charger just went commercial in the US

Tesla releases more details on Powerwall 3, confirms cheaper stack coming

Electric cars are saving Americans billions — even people who don’t drive them

China is exporting so many EVs that it needs more ships – a lot more

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