The Rethink Energy Podcast complements the Rethink Energy weekly strategy bulletin, as we dive deeper into the dynamic factors of the energy market. We discuss the week’s key issues, while providing insight into our own research and forecasts to give clearer direction of where momentum is building through the energy transition.
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The West has begun banning Russian oil and gas exports, new drilling technology will make geothermal power available almost anywhere in the world at higher temperatures, and digital security from the likes of Intertrust Technology will ease the integration of EVs, demand response and domestic solar onto the grid.
Western sanctions on Russia may even extend to its oil and gas exports: The US’ offshore leasing round has met with remarkable success: and EV maker Nikola has restored itself from its past fraud and the Hindenburg short-seller report, but has yet to see its share price recover.
Russia’s intervention in the Ukraine leaves Europe trying to ditch Russian gas – but how and when can that be achieved? Meanwhile SoCal’s 10 GW to 20 GW green hydrogen complex in California is menaced by the idea that Senator Manchin will insert blue hydrogen support into the Build Back Better bill.
California’s updated energy strategy completely ignores wind while pushing unprecedented solar and battery storage: C-Power has begun to commercialize wave energy using remote offshore operations: and Modern Electron is promising to foster decentralized “turquoise” hydrogen production.
Scatec’s 900 MW solar complex in India has had to be indefinitely delayed due to problems sourcing solar modules for the project; Mitsubishi has placed a $50 million electrolyzer order; and nuclear fusion has had a serious research breakthrough which makes it plausible that fusion will be part of the energy mix by 2070.
The polysilicon supply will continue to limit solar deployments until mid-2023, Elon Musk has found something that interests him more than EVs, Baofeng Energy has solidified China’s hydrogen lead with a 150 MW electrolyzer, and oil is back over $90 with foolhardy investments being made once more.
China’s wind industry deployed 17 GW offshore in 2021, far exceeding expectations; GM’s EV progress has encountered delays; Florida may cut Net Metering off at the knees; and Australia has exported hydrogen to Japan.
Rethink Energy’s Harry Morgan has released his hydrogen report – covering the world-changing growth of the sector in detail through to 2050. Other topics for this episode are Vietnam’s continued post-FiT wilderness for renewables with $7 billion in wind investments missing a subsidy deadline; the 15 GW of floating wind awarded in the UK; and CATL’s EV battery swapping initiative across ten Chinese cities.
CCUS will play a valuable role in the green future of cement production, unlike its failure to decarbonize coal plants; Kazakhstan will remain open for Western investment into renewables and green hydrogen after Russian intervention; and Vattenfall subsidiary Feenstra has debuted its home heat pump, which ought to be a no-brainer in the gas-dependent home heat markets of the UK and Netherlands as they try to decarbonize.
In this episode the Rethink Energy team discusses the Cummins-Sinopec electrolyzer gigafactory, China’s 105 GW UHV transmission expansion, the 300 days remaining for the Biden Administration to push through climate spending, and the attempt within the EU to classify natural gas built prior to 2030 as green power.