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As Trump Dismisses Renewables, Energy Sector Doubles Down

as trump dismisses renewables, energy sector doubles down

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Solar energy panel photovoltaic cell and wind turbine farm power generator in nature landscape for … [+] production of renewable green energy is friendly industry. Clean sustainable development concept.

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Though the biggest energy headline coming out of last week’s U.S. presidential debate was whether a President Biden would end fracking, President Trump’s critical portrayal of renewable energy warrants more attention than it has gotten – and a closer look at the reality of growth in the sector.
During the debate, Trump argued that renewable energy is too expensive, wouldn’t power up America’s “beautiful factories”, and is bad for birds. In addition to being seriously outdated, this view flies in the face of capital flows in the energy sector. Renewables-rich electric utilities are on the ascendency at the same time that oil and gas company valuations are in serious decline. This is happening in the United States and across the world as technological, market, and policy forces, amplified by a global pandemic, collide to shift the balance of power in energy.
Utilities Awake From Their Slumber
Electric utilities, once derided for their risk aversion and lack of innovation, are now seizing prominence in the global energy sector that …

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BUSINESS MAVERICK 168 ANALYSIS: Renewable energy: REIPing the whirlwind

business maverick 168 analysis: renewable energy: reiping the whirlwind

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One of the most complex issues in economic development is the extent to which a government should intervene in the free market. Politicians are typically under pressure to be seen to be ‘doing something’ to generate jobs or achieve other political goals. The result is often a mess that results in unintended consequences. But the demand for local manufacture to create jobs is a siren call politicians can’t resist.

First published in Daily Maverick 168
The ANC’s economic policy has been fiercely suspicious of the market, with successive ministers of trade and industry supporting legislation that interferes in the free market to boost BEE and local manufacture. The incumbent minister, Ebrahim Patel, is a staunch proponent of market intervention. So how has this worked out?
There is one specific area where we can clearly see the effects of intervention: the Renewable Energy Independent Power Producer Procurement Programme (REI4P). It has generally been regarded as a success, and there have been five bid windows since 2011 that have together generated 6,300MW of electricity across 92 projects. The total invested in the effort was about R80-billion.
Coal-fired disaster
Then in 2014, after management changes at Eskom, the windows were suddenly …

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As South Australia now knows, local jobs must be a priority in the clean energy transition | Tom Morton

as south australia now knows, local jobs must be a priority in the clean energy transition | tom morton

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Future historians will no doubt remember 2020 as the year of Covid-19. But according to veteran climate campaigner Bill McKibben, they may also view it as a turning point, the year the world moved decisively towards “the transition everyone knew we needed to make”.McKibben told the recent Global Smart Energy Summit 2020 has been a year of “extraordinary convergence”, from the images of Australia’s bushfires, seen around the world on New Year’s Day – “like something out of Hieronymus Bosch” – to unprecedented developments such as China’s commitment to achieve net zero emissions by 2060, the EU’s pledge to make its Green Deal and Є100bn Just Transition Fund the centrepiece of post-Covid recovery, and the US $15tn divested from fossil fuels.The Upper Spencer Gulf has become a social laboratory for Australia’s energy transitionCloser to home, there’s extraordinary convergence between business and state governments on the need to speed up Australia’s energy transition.Tim Reed, president of the Business Council of Australia, wants a “national, bipartisan commitment to net zero emissions by 2050”. Most states have already made this commitment, and South Australia is leading the pack.The state’s energy and mining minister, Dan van Holst Pellekaan, …

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3 Renewable Energy Stocks to Buy Ahead of the Election @themotleyfool #stocks $NEE $AY $HASI

3 renewable energy stocks to buy ahead of the election @themotleyfool #stocks $nee $ay $hasi

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Elections shouldn’t drive our investing decisions overall, but elections do have consequences for some industries. In the case of renewable energy stocks, the election of Donald Trump four years ago brought with it higher costs through tariffs, less favorable policies by electricity regulators, and help for competing energy sources like coal. That didn’t stop renewable energy from growing over the last four years, but it certainly didn’t help. 
As we look ahead to the upcoming election, there could be some big changes in store for renewable energy no matter who wins. Our picks to get investors ready for the election and potential upside from changes in renewable energy policy are Hannon Armstrong (NYSE:HASI), NextEra Energy (NYSE:NEE), and Atlantica Sustainable Infrastructure (NASDAQ:AY). 

Image source: Getty Images.

Flexibility in renewable energy
Travis Hoium (Hannon Armstrong Sustainable Infrastructure Capital): Like any company that invests in renewable energy projects, Hannon Armstrong is in the business of generating a yield from its investments. They just happen to be renewable energy investments rather than owning real estate or pipelines or corporate bonds. 
What makes Hannon Armstrong different is the flexibility with which it can invest funds. The company can take equity or debt …

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Opinion | Israel must aim for 40% of electricity generated by renewable energy

opinion | israel must aim for 40% of electricity generated by renewable energy

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Download App© Haaretz Daily Newspaper Ltd. All Rights ReservedNews and PartnershipsLife and CultureColumnists and OpinionHaaretz Heb and TheMarkerHaaretz.com, the online edition of Haaretz Newspaper in Israel, and analysis from Israel and the Middle East© Haaretz Daily Newspaper Ltd. All Rights Reserved

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The Bright Future of Renewable Energy in the Middle East – BORGEN

the bright future of renewable energy in the middle east – borgen

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SEATTLE, Washington — Thousands of oil rigs and refineries dot the Middle East’s desert landscape, each promising prosperity. Yet poverty and violence have long plagued the region. Surprisingly, these issues are primarily a result of the Middle East’s extensive natural resources. However, as the global push for sustainability mounts, the prospect of renewable energy in the Middle East offers a green solution to the region’s development challenges.The Resource Curse: The Dark Side of Black GoldOne of the most baffling paradoxes of the modern world is the “resource curse.” Countries with large natural resource deposits do not benefit from their supply of natural resources. Instead, resource-rich countries are primarily underdeveloped. Rather than fueling economic growth and public welfare, the presence of oil tends to cripple a country’s development by:Increasing Poverty: Resource-rich countries tend to be heavily dependent on energy exports, leaving their economies alarmingly undiversified. Moreover, these countries are vulnerable to fluctuations in the international oil market. Even minor downturns can send the Middle East into a severe recession.Widening Inequality: Natural resource industries enrich few and exploit many. Aside from a small elite class, most citizens never reap the rewards of the sector, contributing to …

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Energy Down After Biden Pledges Gradual Shift To Renewable Energy — Energy Roundup

energy down after biden pledges gradual shift to renewable energy — energy roundup

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Shares of energy companies fell after presidential candidate Joe Biden said he would gradually shift the U.S. away from fossil fuels, doubling down on a commitment to renewable energy.
Shares of major oil companies such as Exxon Mobil were down sharply. Rep. Xochitl Torres Small of oil-rich New Mexico, a Democrat, pushed back on Mr. Biden’s pledge, saying the candidate was “out of touch” with reality.

Some oil companies have already pivoted, under pressure from activist investors concerned about their role in carbon emissions.

“Here’s the thing about big oil, big oil itself is increasingly moving in a clean direction, as more and more endowments from universities and even the Rockefeller family are moving away from fossil fuel [investment],” said Quincy Krosby, chief market strategist at Prudential Financial.

Oil futures erased early gains to fall 1.3% to $40.12 a barrel on worries of a global oversupply after Libya’s National Oil lifted a force majeure on its largest oil terminal, Es Sider, allowing it to restore production to a total of 1 million barrels of oil per day within four weeks.

The number of rigs drilling for oil in the U.S. rose by six in the latest week to 211, the highest level …

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Energy Deals Shift to Renewables and U.S. Shale Bargains

energy deals shift to renewables and u.s. shale bargains

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At a time when deal activity in the energy and natural resources sector has slowed dramatically—down 26.2% globally year-on-year—one development in particular may define the industry’s near-term future.

In mid-May 2020, French oil major Total opted not to pursue a deal, announced in 2019, to purchase the African assets of Anadarko Petroleum, a U.S. producer that was being acquired by Occidental Petroleum. Two weeks after it withdrew its $8.8 billion proposal for offshore oil and gas properties in Ghana, Total announced it would spend about $3.8 billion for a majority stake in a renewable energy project in the British North Sea. Total’s decision to move away from traditional oil and gas investments could be an indicator of what lies ahead for the industry.

The oil and gas sector was already on the brink of radical change before the COVID-19 pandemic crushed global demand for energy. Facing a capital shortage as the shale revolution foundered, and a lagging stock performance, fossil fuel producers are under mounting investor pressure for cleaner energy in an effort to combat climate change. Traditional oil and gas producers are rethinking their long-term strategies, and increasingly, they are diversifying outside of the traditional oil and gas space.

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UC system to build biomethane plant, solar array for renewable energy

uc system to build biomethane plant, solar array for renewable energy

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The UC system has partnered with two energy companies to construct a biomethane plant and solar array to help bring it closer to its carbon neutrality goal by 2025.
Archaea Energy, LLC and Clearway Energy Group are building the biomethane facility and solar project, respectively, which are expected to reduce the UC system’s emissions by approximately 5%, according to UC Office of the President, or UCOP, spokesperson Stett Holbrook. The output from the solar project will be used to augment energy usage on UC campuses, and the biomethane will power UC utility plants, a UCOP press release states.
“UC is leading the state’s transition to carbon neutrality with these long-term investments in renewable electricity and biogas,” said David Phillips, associate vice president of the UC department of energy and sustainability, in the press release. “We started this journey 11 years ago and we are well down the road to achieving our goals, goals that will benefit all of California.”
The solar facility will be located in Kern County and will generate 134,000 megawatt hours per year of electricity for UC campuses, the press release states. Surplus electricity unused by campuses will be sold.
The biomethane plant, which harvests methane from decomposing organic …

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Fukuchiyama Castle to be beacon of city’s renewable energy drive

fukuchiyama castle to be beacon of city’s renewable energy drive

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Fukuchiyama City in Kyoto Prefecture will from this month switch to renewable energy for all of the electricity used in Fukuchiyama Castle.
The move is designed to help disseminate the United Nations’ Sustainable Development Goals (SDGs), aiming to expand the use of renewable energy in the city and promote local production of energy for local consumption.
The electricity consumption of Fukuchiyama Castle is 50,000 kilowatts per year, according to the city.
Renewable energy has not previously been used but it will be from this month following the purchase of electricity from the new regional electric power company Tantan Energy.

The city estimates that electricity charges from April to August in 2021 will drop by about 30,000 yen compared with the same period this year.Fukuchiyama Castle is said to be the first castle in Japan to have a castle tower that uses 100% renewable energy full time.
The city is gradually switching to renewable energy for electricity for use in public facilities. It has been in place at 32 facilities such as the city hall and elementary and junior high schools since April, and will be introduced at a total of seven facilities, including Fukuchiyama Castle and Sato Taisei Memorial Art Museum from October.
Even …

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