China’s pledge to stop building new coal-fired power projects overseas could improve the reputation of its massive Belt and Road Initiative, said the president of the Asian Infrastructure Investment Bank.
Chinese President Xi Jinping made the pledge on coal on Tuesday at the United Nations General Assembly. He said China will support other developing countries to move toward to green and low-carbon energy, but did not provide further details.
“I think this is very much [an] important policy initiative taken by China,” Jin Liqun, president of AIIB, told CNBC’s “Squawk Box Asia” on Thursday.
“It could enhance the reputation of the Belt [and] Road Initiative,” he added.
Jin said Beijing has been grappling with how to balance demand from other countries for coal-fired power plants with its climate commitments. Xi said last year that China aims to become carbon neutral by 2060.
“Now, I think the decision is made,” he said. “The next step is for China to do its utmost to export renewable technology to these low-income countries.”
A coal fired power plant in Jiayuguan, Gansu province, China, on Thursday, April 1, 2021.
Qilai Shen | Bloomberg | Getty Images
The Belt and Road Initiative or BRI is an ambitious program to build physical and digital infrastructure connecting hundreds of countries from Asia to the Middle East, Africa and Europe. The U.S. and many countries have criticized the BRI for financing building projects — particularly those involving coal — that harm the environment.
Burning coal produces a large amount of carbon emissions, and countries such as Japan and South Korea have previously said they will stop funding overseas coal power projects.
Coal projects were a consistent feature of the BRI in the last few years. In 2015, coal accounted for 46% of China’s energy investments through the BRI, according to the International Institute for Green Finance, a Beijing-based think tank.
China has built nuclear power plants domestically, but it could focus on other other forms of clean energy for other countries, said Jin.
“The best way is to develop hydropower, and wind and solar,” he said. “With new technology, particularly in solar, I think cost effectiveness and efficiency would be greatly enhanced.”
In 2020, more than 57% of Chinese energy investments overseas through the BRI were in hydro as well as solar and wind projects, said International Institute for Green Finance. Coal made up 26.85% of those investments, said the think tank.
However, some countries may not be able to retire their coal plants on schedule, said Shirley Zhang, principal analyst at energy consultancy Wood Mackenzie.
“Due to the relatively young coal plant ages in developing Asia and the lack of new coal financing, countries may be forced to extend the life of their existing coal fleets to accommodate a less disruptive transition,” she said.
General Motors (GM), EVgo, and Pilot Co. just hit a milestone: their joint EV charging network can now be found at more than 200 locations across nearly 40 states. They’ve rolled out almost 850 new fast-charging stalls in just over two years.
Less than a year ago, it spanned 25 states; now it covers almost 40. Some of the newest additions include Colorado, South Carolina, Louisiana, Mississippi, North Dakota, South Dakota, and Wyoming, with big growth across Texas, Missouri, and Florida, including in rural counties, where EV chargers are still scarce.
The chargers are sited at Pilot and Flying J locations, which means drivers can access free Wi-Fi, restaurants, groceries, and convenience items while they charge. The EVgo stalls can deliver up to 350 kW, cutting charging times and quickly getting people back on the road. Many sites include overhead canopies for weather protection and pull-through stalls for trucks, trailers, and vans. Plug and Charge is also available for compatible EVs.
EVgo CEO Badar Khan said the goal is to make highway charging as flexible as the American road trip itself: “Our EVgo eXtend network, built in collaboration with Pilot and GM, is delivering reliable charging to communities large and small – ensuring freedom of fueling choice for every driver.”
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GM is adding more electric models across Chevrolet, GMC, and Cadillac, and it wants its customers to be able to take them wherever they want to go. Wade Sheffer, VP of GM Energy, said, “Through our collaboration with Pilot and EVgo, we’re committed to helping ensure that charging access doesn’t get in the way of your EV journey.”
The three companies announced their collaboration in 2022, with a goal of building up to 2,000 fast-charging stalls at up to 500 Pilot and Flying J locations across the US. They’re nearly halfway there: By the end of 2025, they expect to hit 1,000 stalls across 40 states.
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Harley-Davidson’s electric spin-off brand LiveWire may be gearing up to launch a new model under the name “S4 Honcho,” according to a recent trademark filing with the United States Patent and Trademark Office (USPTO).
The trademark was filed for use on “electric motorcycles and structural parts therefor.” That’s about as vague as it gets, but it’s enough to get the speculation wheels turning, especially since the name “Honcho” feels a little more wild west than LiveWire’s current city-slicker lineup.
LiveWire currently offers two motorcycle platforms: the flagship LiveWire One, and the more affordable S2 line (which just went on supersale), built on a more adaptable platform that currently serves the S2 Del Mar, S2 Mulholland, and S2 Alpinista. The company has already previewed two more models in the works, likely to become the new S3 platform, and so this “S4 Honcho” filing could be our first hint at an entirely new platform. Based on LiveWire’s naming system, an S4 designation would point to a larger, more premium electric motorcycle, potentially even one with touring or adventure capabilities. It also fits with previous indications from LiveWire that an S4 flagship platform could follow in the future.
That fits with the name “Honcho,” which carries an aggressive, take-the-lead kind of vibe. Could this be LiveWire’s entry into the ADV segment? Or perhaps a full-size electric cruiser to win over traditional Harley riders who haven’t yet gone electric? Is it meant to compete with heavier-weight gas motorcycles? Or could it be something else entirely? Such new directions could help expand LiveWire’s currently limited lineup into new categories, especially as more brands enter the commuter and urban e-moto space. But at the same time, LiveWire has struggled to move its already full-sized electric motorcycles, leading many to speculate that its best chance of short-term success could lie in the upcoming smaller format and more affordable S3 line.
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Of course, it’s worth noting that companies often file trademarks for names that never see the light of day, or that take many years to eventually work their way to production. Filing for trademarks early is a common industry tactic to secure intellectual property, even if a product isn’t finalized yet – or might not be built at all. Still, the fact that LiveWire has applied for the S4 Honcho trademark suggests this is more than a back-of-the-napkin idea.
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Eco Wave Power held a grand opening for the first onshore wave power station in the US today, at the Port of Los Angeles. The station is just a pilot so far, but Eco Wave Power has big aspirations.
The station is on the site of AltaSea, an “ocean technology hub” in a warehouse at the Port of LA.
The idea behind wave power is to use motion of waves in the ocean to generate electricity. Waves are relatively constant, and hold more power than wind, given that water is so much denser than air. They also add another dimension to renewable power generation, which can help reduce intermittency.
However, wave power has been considered for centuries and has been tried several times, with little evidence yet of its scalability. The industry, such as it is, is definitely still in the development stage. So this pilot program has a big hill to climb if it’s going to succeed as a demonstration.
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Eco Wave Power’s project is rather humble for now, consisting of seven blue painted buoys, which the company calls “floaters,” approximately in the shape of boats. The floaters are designed to lift and drop with the waves, driving a hydraulic ram to create pressure in a bank of storage tanks in a nearby shipping container (the “conversion unit”), which is then used to spin a turbine generator.
The project will run for two years, though it’s still primarily for demonstration and research purposes. Ocean environments are caustic and chaotic, so there are a lot of problems that could come up. But Eco Wave Power has tried to mitigate one of the potential problems by using biodegradeable hydraulic fluid, just in case there’s any sort of leak.
There could be potential terawatts of power generation available from wave power nationwide, but that would require deployment over much of the US coastline. Eco Wave Power says it could power 60,000 homes with a larger deployment, taking up around 8 miles of breakwater structures built around the Port of LA/Long Beach complex. The system is designed to be modular, so that more floaters and shipping containers could be added depending on the available area.
Alternately, the power could be used to help fuel the port itself. Ports tend to be dirty areas, and Long Beach/LA is no difference. Air quality in the area is quite poor, which is why the port is rushing to clean up pollution. Wave power could provide some onsite power for port operations, and perhaps help to run electrified port equipment.
And if the project were big enough to export power beyond the port, the benefit of being in a port is that there are always nearby electrical substations, so it’s not hard to find a grid connection.
But as of now, we’ve got 7 floaters to start.
Currently, the floaters are placed inside the breakwater, in the channel that is protected from ocean waves. Therefore, they’re not going to generate nearly as much power as if they were placed on the outside of the breakwater itself, where waves are larger, more consistent, and much more powerful. But this is a test project, after all.
At the opening event, minutes after the floaters were dropped into the water, we saw them turn the system on and generate… 1.6kW worth of power. It’s a pretty calm day, after all, and the system hadn’t really had time to build up any pressure.
Eco Wave Power says that a setup of this size could have a potential output of 100kW, though we did get some conflicting numbers on that, and we suspect the numbers change drastically based on positioning and water conditions. It has one grid-connected power station in Israel which has been operational for a few months now, but we asked how much energy it has produced, and the company said that it had not released that information yet.
The new LA station is actually the first onshore wave power station in the US, though there has previously been an offshore wave power pilot in Hawaii. There are benefits and downsides to each method, but onshore is cheaper to install and maintain, if you can get access to the shoreline needed – and port breakwaters are a good opportunity for that.
Eco Wave Power says it also has projects in Taiwan, India and Portugal coming soon. It formerly operated a pilot program in Gibraltar. Its projects so far have been in relatively protected areas (Israel and Gibraltar are both on the Mediterranean, and LA is inside the port), but it has future projects coming that will be exposed to the ocean, like in Taiwan and Portugal, which should offer a whole new set of challenges – and unlock much more power, if the company is able to harness the turbulence of the Pacific.
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