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Coal-To-Liquids, Climate Change, and Energy Security

Posted on November 18, 2019 by admin

first_img On May 2nd, the Senate Energy and Natural Resources Committee marked up the first major energy bill of the new 110th Congress. As of May 13th the bill includes incentives for biofuels, energy efficiency, and carbon capture and sequestration (CCS). At one point the Committee considered–but ultimately rejected–a mandate for coal-to-liquids (CTL) fuels. Nonetheless, the provision will likely be reintroduced when the bill comes up on the Senate floor, so it’s worth examining the implications that CTL might have for both energy security and climate change policy.CTL is a technology that converts coal from a solid to liquid fuel. It is gaining attention in the U.S. as an option to offset the need to import oil. The final product, often referred to as synthetic diesel, has no sulfur and burns more cleanly than traditional petroleum diesel. The South African company Sasol has commercialized the technology over decades of strong government backing. A similar package of long-term incentives would likely be needed for CTL to play a significant role in improving U.S. energy insecurity.The CTL provision in the Senate markup would have created a mandate of 21 billion gallons of CTL fuels by 20221. For comparison, the existing federal mandate for ethanol requires the use of 7.5 billion gallons by 2012. To address concerns that CTL is a step backward on global warming, another provision stated that the greenhouse gas emissions levels of CTL fuels should not exceed that of conventional gasoline.U.S. coal supplies are abundant. In theory, CTL could help to offset some of the negative impacts of oil import dependency including supply uncertainty, wealth transfer to unstable or hostile regimes, and larger geopolitical maneuvering. There are, however, significant trade-offs in promoting its use as a substitute for petroleum. Consider that:CTL results in greater CO2 emissions than petroleum, even if CCS is used. Lifecycle greenhouse gas emissions from CTLs, which include all emissions from “coal mine” to “vehicle wheel,” are nearly twice as high as petroleum alternatives. The proposed legislative standard that “greenhouse gas (GHG) emissions of CTL fuels shall not exceed those of conventional gasoline” refers only to the “tank to wheel” portion of emissions. The “mine to wheel” portion is not addressed in the standard. Carbon capture and sequestration can mitigate most of the “mine to wheel” emissions, but the final GHG profile is still higher than “business as usual” petroleum. CTL is expensive. Construction of CTL facilities requires multi-billion dollar investments for large plants. Due to technology risk, and uncertainty over global oil prices that serve as a benchmark for CTL competitiveness, investments are not likely to flow without significant government subsidy and guarantees. CTL plants risk becoming stranded assets if global crude prices fall. This happened in the late 1970s and early 1980s with shale oil and other energy security investments. CTL uses water unsustainably. In addition to the usual social and environmental problems associated with coal mining and transport, CTL production requires large quantities of water. Approximately 10 gallons of water are used for every gallon of CTL product. Sourcing the additional 210 billion gallons of water needed annually to meet provisions called for in the bill would be challenging. There are already serious water supply problems in Western states such as Montana and Wyoming where most of our cheap coal supplies are located. Investors in China have also begun to show a new skepticism for CTL because of water supply concerns in its coal heartland.Coal-To-Liquid AlternativesThere are alternatives to CTL that are already available, and achieve the same objectives as CTL without the adverse environmental impacts.Vehicle Efficiency. Improving vehicle efficiency can cost-effectively reduce the need to import oil and simultaneously slash GHG emissions. The U.S. corporate average fuel efficiency program (CAFE) cut this country’s oil demand by nearly 3 million barrels a day between 1978 and 1985. No significant changes have been made in the requirements since then, however. CAFE and other vehicle efficiency measures offer the greatest opportunity to serve U.S. public interests holistically, yet a lack of political leadership has left these options largely unused. Biofuels. Non-grain based ethanol and biodiesel are other options that can simultaneously improve energy security and global warming concerns, provided that adequate environmental safeguards are applied. Cellulosic ethanol is particularly promising, and policy measures enacted today can ensure a more certain future.If CTL technology is to have a role in meeting future U.S. energy needs, we will need to address the high greenhouse gas emissions, costs, and water use. Otherwise, this option involves trade-offs that don’t serve the nation’s larger public interests.1 Using a reference of 2 barrels of CTL product per ton of feedstock coal, this provision would require about 250 million tons of incremental coal use per year. This is roughly 20 percent more than today’s consumption. last_img read more

The Real Story Behind Falling Renewable Energy Investments

Posted on November 17, 2019 by admin

first_img Investors worldwide spent less on renewable energy and related technologies—such as smart meters, electric vehicles, and storage—last year than in previous years. Global investments in renewable energy fell to $214 billion, down 14 percent from 2012. Venture capital investments in U.S.-based clean-tech companies fell 25 percent in 2013, according to Clean Edge’s latest report. And for the first time in a decade, China saw a decline in clean energy investment in 2013.These isolated numbers make it appear as if the clean tech sector is on the decline. But take a deeper dive and it’s clear that there’s a much more complex story at play. In reality, renewable energy is on a strong growth path—and tools are emerging to push the sector even further.Falling Renewable Energy Investments Actually Signal ProgressThe recent fall in clean tech investments is partly driven by the fact that renewable energy has become much cheaper in the past few years. You can buy more energy output for less cash than you could have two or four years ago. At the 2014 Future of Energy Summit earlier this month, Michael Liebreich, founder of Bloomberg New Energy Finance (BNEF), said that roughly 80 percent of the reduced investment in clean energy over the last two years is due to these price reductions. Solar module prices, for example, have declined by about 80 percent since 2008. Increased competition among wind energy suppliers has also reduced prices. Research from the International Renewable Energy Agency (IRENA) finds that wind energy prices could drop from 10-30 percent further in the medium to long-term.With the costs dropping substantially, growth in clean energy capacity remains at record highs. This is in spite of economic and policy turbulence in many countries. The United States, China, and Japan in particular have been moving aggressively with solar photovoltaic (PV) installations. China installed a whopping 12 gigawatts (GW) of solar capacity—nearly triple the 4.5 GW deployed the year before. And the world’s total installed wind energy capacity grew by about 19 percent in 2012, followed by another 12.4 percent increase in 2013.In short, the renewable energy industry is maturing—and investors are starting to take notice. Investors like Citigroup are becoming more optimistic in the industry, claiming that the “age of renewables” has begun. “Green bonds”—which direct investment towards environmentally friendly projects—are becoming more and more popular. Energy-smart technology firms, including Opower, are marching into the stock market. These are all indicators that renewables are stepping onto the mainstream financial scene.A Coalition of Renewable Energy InterpretersThe scale and impacts of declining renewable energy costs is not widely understood. This is an example of how real industry trends can be hidden by the headlines. Admittedly, the rapidly changing renewable energy industry can be difficult to keep up with. Decision-makers need both insightful analysis and proactive communication channels to help them understand what’s really going on with renewable energy development—and push this sector further faster.Several organizations are starting to realize the importance of making sure that facts about renewable energy are fully examined, explained, and widely shared. For example, WRI recently joined with IRENA, IEA-RETP, Greenpeace, ACORE, WWF International and 36 leading renewable energy players to establish a “Coalition for Action to Bolster Public Support for Renewable Energy.” This Coalition, which includes think tanks, environmental NGOs, and leading renewable energy companies, will provide fact-based information to address questions and concerns about renewable energy technologies and help support the growth of the industry worldwide. The Coalition will host a knowledge platform to share the latest news, information, lessons, and training opportunities in the renewable energy sector.As part of the coalition, WRI is producing evidence-based research, fact sheets, and tools on renewable energy through its Charge initiative. For example, our 10 Questions to Ask about Scaling On-Grid Renewable Energy paper raises the key questions decision makers need to answer in order to create a stable policy environment that will support the growth of grid-based renewable energy. Our Above and Beyond paper explores how utilities can use “green tariffs” to provide cost-competitive renewable energy to corporate customers. And forthcoming factsheets will help decision makers makes sense of the electricity cost data they encounter.The Charge initiative at WRI and the IRENA Coalition can start to clear up some of the confusion surrounding renewable energy costs. However, truly moving toward a world where all communities have access to affordable, clean energy will require a greater effort. Decision-makers from government, business, and the electricity sector will need to use all tools at their disposal to look past the headlines and capitalize on the emerging opportunities presented by a rapidly changing renewable sector.LEARN MORE: Check out our portfolio of 40 publications and learn how WRI helps power development through affordable, sustainable electricity. last_img read more