Connect with us

Published

on

Hydrogen storage tanks photographed in Spain on May 19, 2022. Hydrogen has a diverse range of applications and can be deployed in a wide range of industries.

Angel Garcia | Bloomberg | Getty Images

The United States’ Inflation Reduction Act represents a “turning point” when it comes to the economics of technologies such as renewables and hydrogen, according to Goldman Sachs.

During an interview with CNBC’s Steve Sedgwick on Tuesday, Michele DellaVigna — who is Goldman’s commodity equity business unit leader for the EMEA region — touched upon a number of issues related to the energy sector, noting that a shift could be underway.

“All of the progress in clean-tech technology, economics, that we’ve seen for the last two, three years, had been driven by higher oil, gas and coal prices,” he said. “That is what makes, comparatively, renewables and hydrogen more profitable.”

“The exception — and I think this is where there could be green shoot[s] — is the Inflation Reduction Act in the U.S.,” he added. He went on to describe the IRA as “really a turning point on the economics of a lot of these technologies, with really generous incentives.”

The IRA was signed into law by President Joe Biden in August. According to the Department of Energy, the IRA “represents a historic, $369 billion investment in the modernization of the American energy system.” Among other things, the broad bill includes a hydrogen production tax credit.

Read more about energy from CNBC Pro

DellaVigna — who was speaking to CNBC on the sidelines of Goldman Sachs’ Carbonomics conference in London — said the IRA was “a great template.”

“It finally makes technologies like green hydrogen, local green battery production [and] carbon capture, profitable in large scale,” he added.

The use of hydrogen in the shift to a more sustainable future has become a big talking point in recent years.

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

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

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

The vast majority of hydrogen generation is still based on fossil fuels, but there is a huge amount of interest in the role green hydrogen could play going forward.

Read more about electric vehicles from CNBC Pro

Another attendee at the Carbonomics event was Elizabeth Gaines, the ex-CEO of Fortescue Metals Group, which is listed on the Australian Stock Exchange and produces iron ore.

Gaines, who is now a non-executive director at Fortescue, told CNBC there was a “genuine acceptance that green hydrogen will have a significant role to play in the green energy transition.”

Fortescue is making moves in the sector via its subsidiary, Fortescue Future Industries, which is focusing on the generation of renewable electricity and green hydrogen, among other things.

Gaines argued that Australia was well-placed to make a mark in the years ahead. “Australia is in a fantastic position to be part of the energy transition,” she said.

“In the same way that iron ore has been a significant export market for Australia, green hydrogen [and] renewable energy can play a similar role in the future — the jobs, the skills that come with that.”

Hopes for hydrogen, but hurdles remain

Over the past few years, major economies and businesses have looked to tap into the emerging green hydrogen industry in a bid to decarbonize the way sectors integral to modern life operate.

During a roundtable discussion at the COP27 climate change summit in November, German Chancellor Olaf Scholz described green hydrogen as “one of the most important technologies for a climate-neutral world.”

“Green hydrogen is the key to decarbonizing our economies, especially for hard-to-electrify sectors such as steel production, the chemical industry, heavy shipping and aviation,” Scholz added, before acknowledging that a significant amount of work was needed for the sector to mature.

“Of course, green hydrogen is still an infant industry, its production is currently too cost-intensive compared to fossil fuels,” he said.

“There’s also a ‘chicken and egg’ dilemma of supply and demand where market actors block each other, waiting for the other to move.”

Continue Reading

Environment

Elon Musk claims that Tesla’s always ‘coming next year’ Roadster can fly

Published

on

By

Elon Musk claims that Tesla's always 'coming next year' Roadster can fly

Elon Musk is again claiming that Tesla’s always “coming next year” Roadster will be able to fly.

The prototype for the next-generation Tesla Roadster was first unveiled in 2017, and it was supposed to come into production in 2020, but it has been delayed every year since then.

It has become a sort of running joke, and there are doubts that it will ever come to market despite Tesla’s promise of dozens of free new Roadsters to Tesla owners who participated in its referral program years ago.

But earlier this year, CEO Elon Musk made some rare new comments about the next-gen Tesla Roadster, reviving hope that the vehicle will finally happen.

Musk said that Tesla will unveil a much-needed updated version of the next-gen Roadster since the design of the yet-to-be-revealed vehicle is already 7 years old, and he said that vehicle would come to market in 2025.

We haven’t heard anything bout the vehicle since and it wasn’t in Tesla’s shareholders meeting presentation.

Now, Musk has again made a rare new comment about the new Tesla Roadster – saying that it “can fly”:

The CEO had previously talked about an updated version of the new Tesla Roadster with something called ‘SpaceX package’, which would include cold air thrusters that could theoretically make the vehicle “fly”, or rather jump and possibly hover, for short distances.

Electrek’s Take

It’s pretty funny that Elon is responding to a guy using the classic technology complaint that “we were promised flying cars, but they are never coming” with a vehicle that Tesla has been promising every year for the past 4 years.

At this point, the Roadster, like FSD, is something that entered the “put up, or shut up” phase.

Bring it or stop talking about it, especially the flying part. The Roadster was supposed to be the “halo effect” for electric cars. I’m not sure how the cold air trusters play into this.

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

Continue Reading

Environment

Tesla Cybertruck deliveries halted amid problem with giant windshield wiper

Published

on

By

Tesla Cybertruck deliveries halted amid problem with giant windshield wiper

Tesla has reportedly halted Cybertruck deliveries amid a problem with the motor of its giant windshield wiper.

The Cybertruck is equipped with the biggest wiper put on a consumer vehicle.

It’s the result of Tesla’s design, which aimed to have a straight line from the front-end all the way to the apex of the roof – resulting in nowhere to hide wipers between the hood and the windshield.

Instead, Tesla opted to have a single giant exposed wiper with a vertical resting position for aerodynamic reasons.

In my review of the Cybertruck, I noted that we had some problems with it, like starting on its own for no reason and staying down as a resting position rather than up. However, I chalked this up as being due to Tesla’s notoriously bad auto windshield wiper system, which is common on all Tesla vehicles – not just the Cybertruck.

Now, many Cybertruck buyers are reporting that Tesla has delayed their deliveries, indicating a roughly week-long halt on deliveries, and some were told by Tesla that it had to do with the windshield wiper motor (via Cybertruck Owners Club).

Some buyers were told that Tesla would have to replace the windshield wiper motor on all Cybertruck, but this has yet to be confirmed.

No recall notice has been released yet.

Electrek’s Take

As I previously reported, we had some issues with ours last month when reviewing the Cybertruck.

I chalked it up to the terrible Tesla auto wiper, but now that I think about it, it’s possible that it wasn’t that.

Tesla’s auto wipers are known to start when they shouldn’t and don’t start when they should. The Cybertruck’s wipers were doing that, but they were also starting and stopping at the bottom rather than at the top position and just staying there.

I’m not sure if it has to do with this or if it’s completely unrelated. I expect that we will learn more in the next few days.

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

Continue Reading

Environment

E-quipment highlight: Bobcat pitches electric telehandler concept

Published

on

By

E-quipment highlight: Bobcat pitches electric telehandler concept

Bobcat unveiled the all-new TL25.60e electric telehandler concept at Intermat last month, with a 2.5 ton rated capacity, three electric motors, and the promise of unmatched energy efficiency and performance that’s objectively superior to diesel.

The Bobcat TL26.60e gets its energy efficient edge from its “actively cooled” li-ion batteries, which are designed to deliver consistent performance in any weather and help fleet operators maintain low running costs while maximizing efficiency and, as a consequence, savings.

Those batteries send power to three separate electric motors, one each to power drive, the rotating superstructure/cab, and the boom/attachments. Bobcat says the arrangement helps its electric telehandler concept consume energy only when it’s needed, and claims that the setup provides immediate responsiveness for all the machine’s movements. That kind of quiet, vibration-free precision control should make the TL26.60e’s operator cab a great place to work from.

Speaking of the cab, it’s the same one found in Bobcat’s larger TLS models, despite the TL26.60e’s smaller footprint. The compact nature of the the machine’s electric components means there’s room for stuff like that – and, as a consequence, more room for operators.

“At Bobcat, we are committed to innovative design that prioritizes both cutting-edge technology and operator wellbeing,” says Vijay Nerva, Innovation Lead, Bobcat EMEA. “Our integration of ergonomics and digitization, exemplified by the transparent T-OLED screen, allows us to introduce customizable, interactive features without compromising the comfort and spacious design of our cabs.”

The TL26.60e features a top speed of 25 km/h, a 6 meter lifting height, and a 2.5 ton lifting capacity. The liquid-cooled battery has a 30 kWh capacity, which should be good for a full shift at most low-speed job sites.

Electrek’s Take

Bobcat’s electric telehandler concept is still just that, but as more and more construction companies come up agains no-drip job sites, low emissions zones, tightening noise regulations, and the ESG goals of both corporate and government clients, it seems like only a matter of time before machines like this become more the rule than the exception.

SOURCES | IMAGES: Bobcat, via Heavy Equipment Guide, Canada.

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

Continue Reading

Trending