A rebound in gas demand through 2024, following the pandemic-related plunge lasts year risks to undermine the world’s goal of reaching net zero emissions by 2050, the International Energy Agency (IEA) warned. Gas demand in 2021 is forecast to rise 3.6% as global economies recover from the coronavirus crisis.
Rolls-Royce Power Systems is investing in the Berlin-based start-up Kowry Energy. Focusing on Sub-Saharan Africa, the German engineers combine solar photovoltaic and battery storage into hybrid power units. As a young company, Kowry can “adapt to the realities” in Africa and the partnership with Rolls-Royce enhances its market positioning.
Investment in fossil generation will fall by one-fourth to below $54 billion, while spending on new wind and solar power units could double to $1.3 trillion over the current decade to 2030, Wood Mackenzie forecasts. Subsidy-free renewables, though, will not be competitive with coal power until 2025 or later.
German carmaker Audi will launch its last combustion engine car in 2026 and then focus exclusively on pure battery-electric cars. CEO Markus Duesmann told press the VW premium brand will sell only battery models from the start of the 2030s at the latest, in a move that will boost electricity use for transportation and could exacerbate peakload demand.
Australian LNG producers strive to lower their high carbon footprint as buyers announce Net Zero targets. However, most cargoes from Down Under incur more than the world’s average 0.56 ton of CO2e per ton of LNG produced. Carbon offsets an option, as are retrofitting liquefaction plants with CCS and replacing gas gensets with renewables and batteries.