Taxes on polluting fuels too low to encourage shift to low-carbon alternatives – OECD report

About 70% of energy-related CO2 emissions from advanced and emerging economies are entirely untaxed, offering little incentive to move to cleaner energy, according to a new report by the Organisation for Economic Co-operation and Development (OECD). As world leaders gather for a UN climate change summit amid mounting public pressure for action, a preview of Taxing […]

Renewables September 20, 2019

Energy Vault – energy storage made of concrete blocks and cranes

Concrete blocks and cranes that is all that you need to store electricity. How? Simple. The crane uses excess energy from renewables to lift concrete blocks, and when the power is required, the crane lifts blocks, and the generator produces it. The process is similar to a pumped-storage hydropower plant (HPP), with water substituted with […]

Electricity September 12, 2019

July 2019 was hottest month on record for the planet

July 2019 was the hottest month on record for the planet, the U.S. National Oceanic and Atmospheric Administration (NOAA) has said in a press release. The record warmth also shrank Arctic and Antarctic sea ice to historic lows. The average global temperature in July was 1.71°F (0.95°C) above the 20th-century average of 60.4°F (15.8°C), making […]

EIB to ditch fossil fuel projects from 2021

The European Investment Bank intends to stop funding fossil fuel projects from 2021, according to the draft of the EU bank’s new energy lending policy. In the document, titled EIB energy lending policy – Supporting the energy transformation, the bank said that its activities would shift away from fossil fuel projects and focus on four […]