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The chairman of the Energy Transitions Commission has highlighted the role both companies and governments can play when it comes to reducing emissions, emphasizing the importance of the upcoming COP26 summit on climate change.

In a wide-ranging interview with CNBC’s “Squawk Box Europe” at the end of last week, Adair Turner was asked if meaningful action was actually taking place when it comes to corporate announcements related to ESG — a term which stands for environmental, social and governance — or if these lacked substance.

“A lot of meaningful action is taking place,” Turner said. “The problem is that it’s five to ten years later than it should have occurred – but it’s still good news.”

He went on to note that companies and countries across the world were “now making clear commitments and taking clear actions” to cut their emissions.

“Almost everybody has now agreed that we’ve got to get the global economy to about zero emissions by 2050,” Turner, who chaired the U.K.’s Financial Services Authority between 2008 and 2013, said.

“The other bit of good news is that the technologies to do that — the technologies of renewables, of batteries, of electrolyzing hydrogen — have ended up being far cheaper and easier to apply than we dared hope 10 years ago,” he said.

According to the foreword of a recent report from the International Renewable Energy Agency, the cost of electricity from utility scale solar photovoltaics dropped by 85% in the period 2010 to 2020. For onshore wind, costs fell by 56%, while offshore wind saw a decline of 48%.

The report from IRENA also states that, in the U.S., the price of utility scale battery storage decreased by 71% between 2015 and 2018.
 
The production of hydrogen using renewables and electrolysis — sometimes called ‘green’ hydrogen — remains expensive, but efforts are also being made to lower costs.

In June, 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.

COP26

Looking at the bigger picture, Turner acknowledged that while the technologies were there and a lot of companies were taking action, even stronger commitments would be needed at COP26, which will be held in the Scottish city of Glasgow from October 31 to November 12.

“In particular, we now need to focus not just on how do we get to zero emissions by 2050, but how do we get really serious emission reductions in methane as well as CO2 — I want to stress that point — in the 2020s,” he said. “We’ve really got to get the action in place now.”

A lot is riding on COP26, which was due to take place last year but postponed because of the coronavirus pandemic. The U.K.’s official website for the summit says it will “bring parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change.”

Described by the United Nations as a legally binding international treaty on climate change, the Paris Agreement, adopted in late 2015, aims to “limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.”

Much of the discussions at Glasgow will be centered around nationally determined contributions, or NDCs. In simple terms, NDCs refer to individual countries’ targets for cutting emissions and adapting to the effects of climate change.

In his interview with CNBC Turner noted how the NDCs presented at COP26 would, when added up, be “nothing like the scale of emission reductions that we need.”

“We are going to have to think about additional action on top of that,” he said. “And that will require further tightening of NDCs in future years but also, maybe, some cross-cutting initiatives at COP26 on methane, on deforestation, on accelerating the drive towards electric vehicles, which can be agreed across all countries.”

Governmental role

When it came to getting results, Turner stressed the important role national governments could play.

“You need not only corporates to be committed and to make voluntary commitments because they want to do the right thing,” he said, but strict government ”regulations and taxes and other instruments as well.”

He explained how establishing a framework to create the conditions in which businesses could then deliver was key.

One example of how governments are attempting to generate change is in the automotive industry. The U.K., for instance, wants to stop the sale of new diesel and petrol cars and vans by 2030 and require, from 2035, all new cars and vans to have zero tailpipe emissions.

“The automotive industry is pivoting towards EVs at an amazing pace,” Turner said. “But we need to make that even faster by just telling them you can’t sell an internal combustion engine car beyond 2035. So yes, you need strong action from government — sometimes the best action is regulation, sometimes it’s a carbon price, sometimes it’s a subsidy or support.”

When it comes to climate change and action, topics related to increased government regulation and carbon pricing have generated a significant amount of debate in recent times.

In a separate interview with CNBC’s Steve Sedgwick over the weekend, former U.S. Energy Secretary Ernest Moniz touched upon these subjects.

Moniz said he thought the energy transition to net zero was “a $100 trillion-plus affair.” He was, he said, encouraged at how financial institutions were “demanding things like disclosure from … companies … in order to be able to shape their own investment portfolios.”

“But we know that most areas of the clean energy transition right now do not have, let’s say, the returns that an investor would like without government coming in and reshaping policy and regulation,” Moniz said. “So that I think is a key step now that needs further attention.”

He was then asked if a carbon tax would level the playing field and make renewables more attractive when compared with hydrocarbons.

“First of all, I like to say clean energy and not renewable because we need the entire space, including carbon capture and hydrogen and nuclear.”

“But yes, a carbon pricing mechanism, I think, would be the most straightforward way of doing two things. One, to shape the playing field – assuming the price, frankly, is high enough. But secondly, what carbon pricing would do is create a pool of resources that I would strongly urge be used in a progressive way.”

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YMX Logistics deploys 20 new Orange EV electric yard trucks

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YMX Logistics deploys 20 new Orange EV electric yard trucks

Leading yard operation 3PL YMX Logistics has announced plans to deploy fully twenty (20) of Orange EV’s fully electric Class 8 terminal trucks at a number of distribution and manufacturing sites across North America.

As the shipping and logistics industries increasingly move to embrace electrification, yard operations have proven to be an almost ideal use case for EVs, enabling companies like Orange EV, which specialize in yard hostlers or terminal tractors, to drive real, impactful change. To that end, companies like YMX are partnering with Orange EV.

“This relationship between YMX and Orange EV is a significant step forward in transforming yard operations across North America,” said Matt Yearling, CEO of YMX Logistics. “Besides the initial benefits of reduction in emissions and carbon footprint, our customers are also seeing improvements in the overall operational efficiency and seeking to expand. Our team members have also been sharing positive feedback about their new equipment and highlighting the positive impact on their health and day-to-day activities.”

This Orange looks good in blue

YMX Logistics electric yard trucks; by Orange EV.

One of the most interesting aspects of this story – beyond the Orange EV HUSK-e XP’s almost unbelievable 180,000 lb. GCWR spec. – is that this isn’t a story about California’s ports, which mandate EVs. Instead, YMX is truly deploying these trucks throughout the country, with at least four currently in Chicago (and more on the way).

“Our collaboration with YMX Logistics represents a powerful stride in delivering sustainable yard solutions at scale for enterprise customers,” explains Wayne Mathisen, CEO of Orange EV. “With rising demand for electric yard trucks, our joint efforts ensure that more companies can access the environmental, financial, and operational benefits of electrification … this is a win for the planet, the workforce, and the bottom line of these organizations.”

We interviewed Orange EV founder Kurt Neutgens on The Heavy Equipment Podcast a few months back, but if you’re not familiar with these purpose-built trucks, it’s worth a listen.

HEP-isode 26

SOURCE | IMAGES: YMX Logistics.

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Hyundai IONIQ 9 debut, new NACS Kia, solid state batteries from Honda

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Hyundai IONIQ 9 debut, new NACS Kia, solid state batteries from Honda

On today’s thrilling episode of Quick Charge, we’ve got the all-new Hyundai IONIQ 9 and its “a “rolling living room” pivoting captain’s chairs, Kia gets a go-fast 7 passenger SUV and an updated EV6, while Honda announces plans to start producing solid-state batteries at its new facility in just a few weeks.

We’ve also got big news for American workers – a Minnesota power company is ditching coal for solar while ExxonMobil and LG Chem get to work extracting thousands of tons of lithium out of Tennessee’s soil.

Today’s episode is sponsored by BLUETTI, a leading provider of portable power stations, solar generators, and energy storage systems. For a limited time, save up to 52% during BLUETTI’s exclusive Black Friday sale, now through November 28, and be sure to use promo code BLUETTI5OFF for 5% off all power stations sitewide. Learn more by clicking here.

You can watch the episode, below.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show!

Read more: Farm-fegnugen? Volkswagen rolls out an electric tractor.

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One of the US’s first solar peaker plants – with Tesla Megapacks – just came online

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One of the US’s first solar peaker plants – with Tesla Megapacks – just came online

Arevon Energy has kicked off operations at Vikings Solar-plus-Storage – one of the US’s first utility-scale solar peaker plants.

The $529 million project in Imperial County, California, near Holtville, features 157 megawatts of solar power paired with 150 megawatts/600 megawatt hours of battery storage.

Vikings Solar-plus-Storage is designed to take cheap daytime solar power and store it for use during more expensive peak demand times, like late afternoons and evenings. The battery storage system can quickly respond to changes in demand, helping tackle critical grid needs.

Vikings leverages provisions in the Inflation Reduction Act that support affordable clean energy, strengthen grid resilience, boost US manufacturing, and create good jobs.

The Vikings project has already brought significant benefits to the local area. It employed over 170 people during construction, many local workers, and boosted nearby businesses like restaurants, hotels, and stores. On top of that, Vikings will pay out more than $17 million to local governments over its lifespan.

“Vikings’ advanced design sets the standard for safe and reliable solar-plus-storage configurations,” said Arevon CEO Kevin Smith. “The project incorporates solar panels, trackers, and batteries that showcase the growing strength of US renewable energy manufacturing.”

The project includes Tesla Megapack battery systems made in California, First Solar’s thin-film solar panels, and smart solar trackers from Nextracker. San Diego-based SOLV Energy handled the engineering, procurement, and construction work.

San Diego Community Power (SDCP) will buy the energy from the Vikings project under a long-term deal, helping power nearly 1 million customer accounts. SDCP and Arevon have also signed an agreement for the 200 MW Avocet Energy Storage Project in Carson, California, which will start construction in early 2025.

Vikings is named after the Holtville High School mascot, and Arevon is giving back to the local community by funding scholarships for deserving Holtville High students.

Arevon is a major renewable energy developer across the US and a key player in California, with nearly 2,500 MW in operation and more than 1,250 MW under construction.

Read more: Minnesota’s largest coal plant goes solar: Sherco Solar comes online


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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*

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