Switched On

It’s a good news, bad news situation for solar right now. On the one hand, annual installations are continuing to break records, with China set to build almost as much solar this year as the entire world rolled out in 2022. But on the other hand, the industry is suffering from a supply glut, weighing on the prices and margins of module makers. What is driving China’s boom and will the global momentum continue? Are there any underestimated threats to growth beyond grid bottlenecks?

On today’s show, Dana sits down with Jenny Chase, lead solar analyst at BloombergNEF. Together, they discuss the latest outlook for solar, the onshoring of US production and whether its modules can be competitive against cheaper foreign producers, and the role solar can play in ambitions to triple global renewables capacity by the end of the decade.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

Global PV Market Outlook, 4Q 2023 - https://www.bnef.com/insights/32793

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Large power transformers, or LPTs for short, are integral for the functioning of the energy grid. But with BloombergNEF forecasting that the US will need to nearly double its units by 2030, will the country manage to meet the demand, or could it be facing further bottlenecks?

On today’s show, Dana sits down with Eva Gonzalez Isla from BNEF’s modeling team. Together, they discuss what large power transformers are and what they do, US government policy and whether it has been aiding or hampering production, and the countries that are making up for a shortfall in the US’s transformer production capacity. Today’s episode draws from the BNEF research note US Risks Power Transformer Supply Gap Becoming a Chasm.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

US Risks Power Transformer Supply Gap Becoming a Chasm - https://www.bnef.com/insights/32571

See omnystudio.com/listener for privacy information.

Investment in carbon capture and storage is skyrocketing. Last year, the technology attracted some $6.4 billion globally, more than double the year before. But why are industries now looking to Carbon Capture and Storage (CCS) to cut down on their carbon emissions, rather than other, better-established methods?

On today’s show, Dana sits down with Allen Tom Abraham and Anastasia Tomasidou from BNEF’s Sustainable Materials team. Together, they take a look at the various sectors that are utilizing CCS technology, methods of carbon capture and storage and potential bottlenecks in the existing system, and the role that policy plays in the expansion of CCS across the globe.

Today’s episode draws from the BNEF research note CCUS Market Outlook 2023.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

CCUS Market Outlook 2023 - https://www.bnef.com/insights/32621

See omnystudio.com/listener for privacy information.

Oil and gas majors have long stated their intention to diversify away from fossil fuels and move toward clean energy production. However, in the last few years, many have wound back these plans, shooting for less ambitious targets or returning to their traditional business models. Against this backdrop, can climate-conscious investors hold major fossil-fuel companies to account? 

On today’s show, BNEF Sustainable Finance analyst Ryan Loughead hosts a conversation on oil and gas investment with panelists Annika Brouwer, Sustainability Specialist at Ninety One Asset Management; Ronan Hodge, Technical Lead from the Glasgow Financial Alliance for Net Zero (GFANZ); Thina Saltvedt, Chief Analyst in Sustainable Finance at Nordea Bank; and Peter Taylor, Corporate Engagement Programme Director for the Institutional Investors Group on Climate Change (IIGCC). Together they discuss the different approaches of asset managers who keep oil and gas investments on their books, the challenges around divesting from fossil-fuel holdings, and the varying strategies of oil and gas majors themselves.

Today’s episode was recorded live at BNEF Summit London. To learn more about BNEF’s Summits and to listen to more interviews, please visit https://about.bnef.com/summit/.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

See omnystudio.com/listener for privacy information.

Climate change and the transition to a net-zero economy presents both opportunities and risks to companies and assets. But how might an investor assess this exposure?

On today’s show, Dana sits down with Tifenn Brandily and Mike Daly from BNEF’s Transition Risk team to take a look at two proprietary models, the Clean Energy Exposure Ratings and the Transition Risk Assessment Company Tool. Delving into the methodology behind these, Tifenn and Mike explain how they analyze revenues generated by less-transparent industries, and which sectors are most exposed to the transition’s risks and rewards.

Links to research notes from this episode:

Transition Risk Assessment Company Tool (TRACT) - https://www.bnef.com/insights/28081

Clean Energy Exposure Portfolio Tool (CEEPT) - https://www.bnef.com/insights/31449

BNEF Clean Energy Exposure Ratings 2023 - https://www.bnef.com/insights/31451

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Energy security has come into sharp focus over the past two years, as the shifting geopolitical landscape shakes up power markets around the world. To help customers, numerous governments have introduced regulatory mechanisms to tackle inflation and strengthen domestic energy requirements. But in some instances, these policies have undermined climate goals and even had knock-on effects to the stability of utilities companies themselves. So just how damaging have the last few years been, and are we still on track to meet our net-zero goals?

On today’s show, BNEF’s Deputy CEO, Albert Cheung, hosts a conversation on energy security with panelists Greg Jackson, CEO of Octopus Energy; Georgios Stassis, CEO and Chair of Public Power Corporation; and Rui Teixeira, CFO of EDP. Together they discuss the energy ‘trilemma’ of sustainability, affordability and security, including what’s required to increase the pace of clean energy deployment and the compatibility of ever-increasing fossil-fuel investments with a net-zero future.

Today’s episode was recorded live at BNEF Summit London. To learn more about BNEF’s Summits and to listen to more interviews, please visit https://about.bnef.com/summit/.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

See omnystudio.com/listener for privacy information.

Removing carbon directly from the air might seem like a technology of the distant future, but ‘direct air capture’ is increasingly becoming a reality, especially as companies try to figure out how they’re going to meet their net-zero targets. How does DAC actually work, and how seriously should we take it compared to other means of carbon removal?

On today’s show, Dana sits down with Sharon Mustri and Brenna Casey from BNEF’s Sustainable Materials team. Together they take a look at the companies that are investing in DAC, the cost of this technology as well as its rival carbon removal methods, and how one can go about storing all that carbon once it’s been filtered and captured.

Today’s episode draws from the BNEF research note Direct Air Capture: Market and Cost Outlook, which assesses the DAC market through 2050.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

Direct Air Capture: Market and Cost Outlook - https://www.bnef.com/insights/32021

Amazon, Microsoft Boost Demand for Carbon Removal Tech - https://www.bnef.com/shorts/s16pkct0g1kw01

Occidental’s Big Buy May Alter Path of $150 Billion Market - https://www.bnef.com/insights/32055

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Japan has pledged to achieve net-zero emissions by 2050, yet the pathways to this target are complicated by the country’s recent history. In the aftermath of the 2011 Fukushima meltdown, Japan suspended all of its nuclear reactors, which at the time supplied one third of the nation’s energy. Today, the majority of these reactors still lie dormant, and fossil fuels are filling the energy void.

So how can Japan achieve its climate goals? On today’s show, Dana sits down with Isshu Kikuma, an associate from BNEF’s Tokyo office. Together they talk about the clean energy technologies Japan is using to replace its fossil fuel outlay, the country’s still-complex relationship with nuclear energy, and the surprising group that’s currently blocking the nation’s geothermal energy potential.

Today’s episode draws upon themes found in BNEF’s New Energy Outlook: Japan. The regional New Energy Outlook reports analyze local technology pathways to reach net zero and the policy recommendations BNEF identifies as key for a successful transition.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

NEO Japan - https://www.bnef.com/insights/31823/view

Geothermal in Japan: A Tale of Hot Springs Vs Net Zero - https://www.bnef.com/insights/30857

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It’s been a volatile year for natural gas. Last winter, global gas prices spiked in the aftermath of Russia’s invasion of Ukraine and European nations rushed to replace sanctioned Russian pipeline supply. North America increased LNG exports with most of these volumes going to Europe to meet higher demand for seaborne cargoes. Prices have since normalized thanks to a relatively mild winter, helping the spot demand recovery in Asia. But now, as cold weather returns, European and North Asian demand, and global gas supplies are once again in the spotlight.

On today’s show, Dana speaks to Iryna Sereda, BNEF’s Head of European Gas, and Abhishek Rohatgi, the Head of Global LNG and APAC Gas, about their newly published Winter Gas Outlook. Together they discuss European gas inventories, Asian markets, where new supply is coming online, and how demand dynamics are shifting around the world. They also talk about how climate events from El Niño to global warming are complicating gas market forecasts and why they remain cautiously optimistic for the year ahead.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

Global LNG Winter Gas Outlook 2023-24 - https://about.bnef.com/blog/global-lng-winter-outlook-2023-24/

See omnystudio.com/listener for privacy information.

Lithium is integral to the majority of electric vehicle battery chemistries, making it one of the world’s most sought-after metals. Once it’s out of ground, who controls the supply of lithium and its refining? With the majority of major diversified miners not actively taking part in lithium extraction, who are the companies involved in this space?

On today’s show, Dana speaks with Ellie Gomes-Callus from BNEF’s metals and mining team, and Dr. Andy Leach from the energy storage team. Together, they discuss the different methods of lithium mining and their varying ecological impacts, why the major diversified miners are largely avoiding the extraction of this metal, and the relationship between lithium and different battery chemistries. They also consider whether sodium-ion technology poses a threat to lithium’s current dominance.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

1H 2023 Battery Metals Outlook: Shift In Demand Dynamics

Energy Transition Metals Production Scores: Australia Top

Sodium-ion Batteries Target China’s Mini EVs to Cut Costs

Rio Tinto Doubles Down on Lithium Mining With Rwanda Deal

Battery Metals Monthly - August 2023

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