Connect with us

Published

on

In this article

A commercial plane takes off after sunset from Geneva Airport, Switzerland.
FABRICE COFFRINI | AFP | Getty Images

From the Wright brothers’ historic flight in 1903 to the development of supersonic aircraft, the history of aviation has been driven by technology and ambition.

Now, as the 21st century progresses, the sector continues to show its appetite for innovation and radical design.

Last September, for instance, a hydrogen fuel-cell plane capable of carrying passengers took to the skies over England for its maiden flight.

The same month also saw Airbus release details of three hydrogen-fueled concept planes, with the European aerospace giant claiming they could enter service by the year 2035.

More recently, United Airlines announced it had signed a commercial agreement to purchase aircraft from a firm called Boom Supersonic.

In a statement, United said the Overture aircraft — which is yet to be built — was set to be “optimized to run on 100% sustainable aviation fuel.”

All of the above are linked by a focus on technologies designed to reduce aviation’s environmental footprint. This represents a major task, even if the number of flights last year slumped due to the coronavirus pandemic.

According to the International Energy Agency, carbon dioxide emissions from aviation “have risen rapidly over the past two decades,” hitting almost 1 gigatonne in 2019. This, it notes, equates to “about 2.8% of global CO2 emissions from fossil fuel combustion.”

Elsewhere, the World Wildlife Fund describes aviation as “one of the fastest-growing sources of the greenhouse gas emissions driving global climate change.” It adds that air travel is “currently the most carbon intensive activity an individual can make.”

A variety of solutions

Iain Gray is director of aerospace at the U.K.’s Cranfield University. In a phone interview with CNBC, he described zero carbon as “the top priority” for the industry and sought to emphasize the importance of developing a range of solutions to tackle the challenge.

“The really big technology driver is around the propulsion system,” he explained, “but that doesn’t take away from the importance of new technologies around … new lightweight materials, enhanced carbon composite materials, and the systems itself.”

Expanding on his point, Gray provided an example of why the innovations on planes flying above our heads should not be viewed in isolation. 

“There’s a lot of effort goes into reducing the weight on an aeroplane for it only to spend half an hour circling an airport,” he said.

“So the whole interaction of air traffic management with the aircraft itself is a … very important development and new technologies on airspace management are emerging all the time.”

The power of propulsion

Alongside the development of hydrogen fuel-cell planes there’s also been a lot of discussion around electric propulsion in recent years, with firms such as Volocopter and Lilium developing eVTOL, or electric vertical take-off and landing aircraft.

The key with technologies such as these is the types of journeys to which they can be applied.

“If you look at hydrogen fuel cells and you look at batteries, that really is very much aimed at the smaller aircraft, that’s the sub 1,000 kilometer range,” Cranfield’s Iain Gray said.

“You have to do that in a zero carbon way, there’s no question,” he added. “Is that going to make a big difference to the overall CO2 contributions that aviation makes? No.”

“We need to focus on the longer range flights, flights greater than 1,000 kilometers, flights greater than 3,000 kilometers in particular.”

Fueling change

This focus on long-haul trips will be important in the years ahead, even though they make up a small proportion of flights.  

According to a sustainability briefing from Eurocontrol published earlier this year, “some 6% of flights from European airports were long-haul” in 2020, measuring over 4,000 kilometers (around 2,485 miles) in length.

The intergovernmental organization went on to state that “more than half of European aviation’s CO2 emissions were from this tiny proportion of the overall number of flights.”

This viewpoint was echoed by Jo Dardenne, aviation manager at Transport & Environment, a campaign group headquartered in Brussels.

“We shouldn’t forget that the biggest chunk of aviation emissions are linked to long haul flights because you fly longer, you fly higher,” she told CNBC.

“So all in all you’re producing more CO2 … those long haul flights can only be decarbonized by replacing the kerosene that they’re using.”

It’s on these longer journeys that sustainable aviation fuel could have a significant role to play in the future.

Although the European Union Aviation Safety Agency says there’s “not a single internationally agreed definition” of sustainable aviation fuel, the overarching idea is that it can be used to reduce an aircraft’s emissions.

For its part, Airbus describes SAF as being “made from renewable raw material.” It adds that the most common feedstocks are based on crops or used cooking oil and animal fat.

“Currently, the big challenges of sustainable aviation fuel are producing it in the right volumes that are required, and at the right cost point,” Cranfield’s Gray said.

The provenance of feedstocks used for SAF is also important, he explained. “If what you’re doing … to produce sustainable aviation fuel is transporting fuel right across the world using feedstocks from the other side of the planet, then is it really sustainable?”

“The big effort at the moment is looking at how you can produce sustainable aviation fuels in a …  green way.” This could be fuel from waste or local resources, Gray added.

One type of fuel generating interest is e-kerosene, which also goes by the name of synthetic kerosene. According to a briefing from T&E published in February, e-kerosene is produced by combining carbon dioxide and hydrogen.

“What’s great about it is that it can be dropped into these jets without any modification of the engine and of the technology of the plane,” Dardenne said.  

“It’s a carbon neutral fuel, it’s something that can be easily dropped in,” she added. “The only problem is that it’s very expensive.”

Driving cost down will indeed be key in the years ahead, but organizations like T&E are keen to emphasize the potential environmental benefits of using it.

If the CO2 is “captured from the atmosphere” and hydrogen produced using renewables, T&E says “the combustion of e-kerosene will, apart from some residual emissions, be close to CO2 neutral.”

The future

While technology may be developing, the world also needs to come up with rules and regulations focused on the environmental footprint of air travel. 

Examples of these efforts include the Carbon Offsetting and Reduction Scheme for International Aviation and the European Union including carbon dioxide emissions from aviation in its emissions trading system since the year 2012.

In her interview with CNBC, T&E’s Dardenne stressed the importance of “proper regulation.”

She said: “If you price emissions and pollution effectively, then mandate the use of clean technologies, you send the right signals to investors, private and public, to invest in them.” 

“The clearer the regulatory framework the more certainty you can provide to the market that these technologies will have a future,” she added.

“And that will actually bring added value, financial added value, as well as environmental added value.”

Looking at the bigger picture, she went on to state that “proper regulation” would come via effective carbon pricing and fuel mandates, describing the latter as an obligation to use clean fuels. These were, she argued, “the cornerstone of effective aviation decarbonization strategy.”

Continue Reading

Environment

A 350-mile electricity transmission line in Nevada is now approved

Published

on

By

A 350-mile electricity transmission line in Nevada is now approved

The massive Greenlink West Transmission Project in Nevada got the final green light this week by the US Department of the Interior.

The project will create a new 525 kV transmission line that will stretch 350 miles from Las Vegas to Yerington, southwest of Reno, and greatly increase Nevada’s grid capacity. It will cross federal, state, Tribal, and private lands in seven counties.

Once completed, utility NV Energy’s Greenlink West will be able to carry up to 4,000 megawatts (MW) of clean energy – enough to power over 4.8 million homes. Greenlink West is a critical part of Nevada’s push to ramp up renewable energy production and modernize its aging power grid.

Construction is expected to begin early next year, and the goal is to bring it online by May 2027.

Currently, a lot of the solar, geothermal, and wind energy generated in rural parts of the state can’t be efficiently sent to cities like Las Vegas and Reno, where demand is high. Greenlink West will fix that by connecting clean energy sources to urban centers.

Along with the 210-mile-long, 525 kV Greenlink North, which will span from Ely to Yerington and is still under environmental review, the two lines will tie into the existing One Nevada Transmission Line. The entire $4.24 billion transmission project, which is expected to generate $690 million in economic activity and create nearly 4,000 good-paying jobs, will result in a continuous triangle of high-voltage transmission lines in the state, as per the video below:

The project will also include three 345 kV lines from Yerington to the Reno area.

Greenlink North is expected to be in service by December 2028.

Read more: US electricity demand is about to surge – here’s what needs to happen


To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

MicroStrategy stock pops 8% after company ups bitcoin holdings to $14.6 billion

Published

on

By

MicroStrategy stock pops 8% after company ups bitcoin holdings to .6 billion

MicroStrategy founder Michael Saylor speaks at the Bitcoin 2021 Conference in Miami on June 4, 2021.

CFOTO | Nurphoto | Getty Images

MicroStrategy shares jumped more than 8% on Friday after founder Michael Saylor said the company purchased another $1.1 billion worth of bitcoin.

The stock jumped 24% for the week and is now up 124% this year.

Saylor said in a post on social media platform X that MicroStrategy’s average purchase price in the four years it has been buying bitcoin is $38,585 per coin. Bitcoin is currently trading at close to $60,000.

MicroStrategy’s stash of 244,800 bitcoins is worth $14.6 billion.

Founded in 1989, MicroStategy has a business in enterprise software and cloud-based services, but its value is now almost entirely tied to its bitcoin ownership, effectively making the company a proxy for the world’s biggest cryptocurrency. It is the biggest corporate holder of the asset, according to Bitcoin Treasuries.

Read more about tech and crypto from CNBC Pro

In Saylor’s Friday post, he added that the “BTC yield,” a metric introduced by MicroStrategy, is 17% for the year. The number suggests that the company has created 17% more value for shareholders by selling stock to buy bitcoin.

“We’re basically giving people different types of bitcoin exposure,” Saylor told CNBC in an interview this week. “MicroStrategy’s mission is to securitize bitcoin and serve as the institutional bridge between traditional, mainstream investors and bitcoin.”

Even after this week’s rally, MicroStrategy shares are about 26% off their March high. The stock closed Friday at $141.47.

But MicroStrategy is far outperforming bitcoin, which is up 35% for the year. Saylor said owning MicroStrategy is a way to invest in bitcoin but with a variety of attributes, such as increased leverage or downside protection.

“A lot of people, they don’t want to own or they can’t own bitcoin,” Saylor said. Some would say, “Give me the volatility of the S&P and half of the performance of bitcoin, and I’d be totally happy,” he said.

Don’t miss these insights from CNBC PRO

MicroStrategy's Michael Saylor predicts bitcoin could hit $13 million by 2045: CNBC Crypto World

Continue Reading

Environment

Here are the EVs you can lease for under $300 a month this September [Updated]

Published

on

By

Here are the EVs you can lease for under $300 a month this September [Updated]

With more options than ever, driving an electric vehicle has never been more affordable. As new EVs hit the market, the lease deals are heating up. Here are all the EVs you can lease for under $300 a month this September.

A record 330,463 electric vehicles were sold in the US in the second quarter. According to Kelley Blue Book, EVs accounted for 8% of total new vehicle sales in Q2, up from 7.1% in the first three months of 2024.

The growth was driven by the influx of new models, massive discounts, and higher leasing rates. A big factor behind leasing is the ability to pass on the $7,500 federal tax credit to lessees.

Most automakers are slapping the $7,500 on top of additional incentives like lease bonus cash, conquest, and loyalty offers. In total, the savings amount to over $10,000 in many cases.

According to Motor Intelligence, Kia’s new three-row EV9 SUV sold with an average discount of over $19,700 in July. The Honda Prologue and Volkswagen sold with an average discount of $7,035 and $13,015, respectively.

EVs-lease-September
Kia EV9 GT-Line (Source: Kia)

EVs you can lease for under $300 a month in September

As the discounts continue to pile up, several EVs are available to lease for under $300, even $200 a month this September. According to an analysis from online auto research firm CarsDirect, here are some of the best electric vehicle lease deals this month (find deals in your area at the bottom).

For smaller (subcompact) SUVs, the 2024 Kia Niro Wind EV is listed at $169 for 24 months. With $3,999 due at signing, it has an effective cost of $336 per month.

EVs-lease-September
Kia Niro EV (Source: Kia)

Although that may sound intriguing, other electric models are available at even more affordable monthly rates.

For example, the 2024 Honda Prologue EX at $269 for 36 months. With only $1,999 due at signing, Honda’s electric SUV can be leased for an effective rate of $325 a month.

EVs-lease-September
2024 Honda Prologue Elite (Source: Honda)

The Prologue EX also has a range of up to 296 miles, compared to the Niro EV, which has an EPA-estimated 253-mile driving range. Despite the Prologue’s higher starting price ($47,400 vs $39,600), Honda offers more incentives, including a loyalty (or conquest) bonus.

Volkswagen’s ID.4 is available for $219 for 36 months. With $3,499 due at signing, the 2024 Volkswagen ID.4 Standard has an effective cost of $316 per month.

Electric Vehicle Monthly Rate Term
(months)
Due at Signing
2024 Kia Niro Wind EV $169 24 $3,999
2024 VinFast VF 8 $199 36 $894
2024 Kia EV6 $209 24 $3,999
2024 Hyundai IONIQ 5 $209 33 $3,999
2024 Volkswagen ID.4 $219 36 $3,499
2024 Honda Prologue $269 36 $1,999
2024 Hyundai IONIQ 6 $299 33 $3,999
EVs for lease under $300 per month in September 2024

After unveiling the updated US-built 2025 model, Hyundai’s IONIQ 5 is one of the best EVs to lease in September.

The 2024 Hyundai IONIQ 5 SEL RWD is listed at $209 for 33 months. With $3,999 due upfront, you can drive off in a new IONIQ 5 for $330 a month.

EVs-lease-September
2024 Hyundai IONIQ 5 (Source: Hyundai)

Hyundai’s electric fastback, the IONIQ 6, is listed at $299 for 33 months. The 2024 IONIQ 6 SEL RWD, with $3,999 due at signing, has an effective cost of $420 per month.

Its third EV, the Kona Electric, is slightly more expensive at $362 for 24 months. That’s for the 2025 Kona SEL EV with up to 261 miles range. With $1,991 due upfront, the Kona EV costs $445 a month.

EVs-lease-September
2024 Kia EV6 (Source: Kia)

Kia’s EV6 is another top EV lease option this month. The 2024 Kia EV6 Light Long Range RWD is listed at just $209 for 24 months. Kia states that $3,999 is due at signing, amounting to a $376 monthly rate.

After Kia introduced a new Tesla Conquest Cash discount, Tesla drivers (buyers and lessees) can score an extra $1,500 off the EV9 and $1,000 off the EV6.

With the discount, Kia’s EV6 is even cheaper to lease than a Soul at just $179 per month ($346 effective rate) despite costing more than double.

Although not on the list, the Subaru Solterra is also a steal in September. The 2024 Subaru Solterra Premium starts at $329 per month (36 months) with no money down.

Ready to save big? We can help you get started. Check out our links below to find deals on EVs in your area.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending