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Energy Sector And Economy In Mexico Set For Boost Following Energy Reforms

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Energy Sector And Economy In Mexico Set For Boost Following Energy Reforms

According to an IEA report Mexico’s energy reform is set to revitalise an ailing sector and boost the economy.

Mexico’s wide-ranging energy reform, which began in 2013, is expected to reverse the country’s declining oil production, increase the share of renewables in the power sector, and slow the growth in carbon emissions, providing a solid foundation for robust economic growth in the coming decades, according to the International Energy Agency.

Mexico’s energy sector is being completely recast by the Reforma Energética. The reform ends the longstanding dominance of Petróleos Mexicanos (PEMEX) in oil and gas, and of the Comisión Federal de Electricidad (CFE) in the electricity sector, opening up key parts of the energy sector to new players, investment and technology.

As a result of this major effort, Mexico’s total oil production, which has been on a sharp decline in recent years, is projected to turn a corner around 2020 and then rise to 3.4 mb/d by 2040, up almost 1 mb/d from today. The increase comes in large part from new offshore developments, including deepwater drilling, and helps restore Mexico’s position as a major global oil producer and exporter.

These findings are in the Mexico Energy Outlook, part of the IEA’s World Energy Outlook (WEO) series, which examines the long-term impact of the Reforma Energética on the energy sector as well as its economic and environmental consequences.

The report also finds that Mexico’s innovative auction system provides a substantial boost to Mexico’s clean energy efforts in the power sector. More than half of the country’s new power generation capacity installed between now and 2040 is renewables-based, tapping Mexico’s large wind and solar resources. New investment in electricity is essential to meet rapid growth in electricity demand, and allows Mexico to reach its target of producing 35% of electricity from clean sources by 2024.

“This is not a reform, it’s a revolution on an unprecedented scale,” said Dr Fatih Birol, the executive director of the IEA. “This transformation touches every sector of the Mexican energy industry and goes well beyond. However, let’s not underestimate the task ahead. It is a huge undertaking and there will be challenges but the reform has made remarkable progress. The government’s path forward is the right one and the IEA stands ready to assist.”

The report comes a year after Mexico took the first steps in November 2015 to join the IEA. The accession of Mexico would be a major step forward for the IEA’s new “open door” policy and allows deeper cooperation in coming years.

The challenge for Mexico is to turn into reality the positive predictions presented by the IEA.

 

“The Mexico Energy Outlook motivates us to continue in the path traced by the Energy Reform and to double our efforts,” said Pedro Joaquín Coldwell, Mexico’s Secretary of Energy. “The challenge for Mexico is to turn into reality the positive predictions presented by the IEA. The report includes some very convincing findings on what Mexico would have faced if the reform had never been enacted.”

Without these energy reforms, the report finds that oil production would be 1 mb/d lower in 2040, electricity costs would be higher, and household spending would be hit. Also, the cost to the economy would be substantial, reducing the size of Mexico’s GDP by 4% in 2040, resulting in a total economic loss of $1 trillion over the period of the outlook.

 

Economy

A Good Look At How Homes Will Become More Energy Efficient Soon

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energy efficient homes

Everyone always talks about ways they can save energy at home, but the tactics are old school. They’re only tweaking the way they do things at the moment. Sealing holes in your home isn’t exactly the next scientific breakthrough we’ve been waiting for.

There is some good news because technology is progressing quickly. Some tactics might not be brand new, but they’re becoming more popular. Here are a few things you should expect to see in homes all around the country within a few years.

1. The Rise Of Smart Windows

When you look at a window right now it’s just a pane of glass. In the future they’ll be controlled by microprocessors and sensors. They’ll change depending on the specific weather conditions directly outside.

If the sun disappears the shade will automatically adjust to let in more light. The exact opposite will happen when it’s sunny. These energy efficient windows will save everyone a huge amount of money.

2. A Better Way To Cool Roofs

If you wanted to cool a roof down today you would coat it with a material full of specialized pigments. This would allow roofs to deflect the sun and they’d absorb less heat in the process too.

Soon we’ll see the same thing being done, but it will be four times more effective. Roofs will never get too hot again. Anyone with a large roof is going to see a sharp decrease in their energy bills.

3. Low-E Windows Taking Over

It’s a mystery why these aren’t already extremely popular, but things are starting to change. Read low-E window replacement reviews and you’ll see everyone loves them because they’re extremely effective.

They’ll keep heat outside in summer or inside in winter. People don’t even have to buy new windows to enjoy the technology. All they’ll need is a low-E film to place over their current ones.

4. Magnets Will Cool Fridges

Refrigerators haven’t changed much in a very long time. They’re still using a vapor compression process that wastes energy while harming the environment. It won’t be long until they’ll be cooled using magnets instead.

The magnetocaloric effect is going to revolutionize cold food storage. The fluid these fridges are going to use will be water-based, which means the environment can rest easy and energy bills will drop.

5. Improving Our Current LEDs

Everyone who spent a lot of money on energy must have been very happy when LEDs became mainstream. Incandescent light bulbs belong in museums today because the new tech cut costs by up to 85 percent.

That doesn’t mean someone isn’t always trying to improve on an already great invention. The amount of lumens LEDs produce per watt isn’t great, but we’ve already found a way to increase it by 25 percent.

Maybe Homes Will Look Different Too

Do you think we’ll come up with new styles of homes that will take off? Surely it’s not out of the question. Everything inside homes seems to be changing for the better with each passing year. It’s going to continue doing so thanks to amazing inventors.

ShutterStock – Stock photo ID: 613912244

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Economy

IEMA Urge Government’s Industrial Strategy Skills Overhaul To Adopt A “Long View Approach”

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IEMA, in response to the launch of the Government’s Industrial Strategy Green Paper, have welcomed the focus on technical skills and education to boost “competence and capability” of tomorrow’s workforce.

Policy experts at the world’s leading professional association of Environment and Sustainability professionals has today welcomed Prime Minister Teresa May’s confirmation that an overhaul of technical education and skills will form a central part of the Plan for Britain – but warns the strategy must be one for the long term.

Martin Baxter, Chief Policy Advisor at IEMA said this morning that the approach and predicted investment in building a stronger technical skills portfolio to boost the UK’s productivity and economic resilience is positive, and presents an opportunity to drive the UK’s skills profile and commitment to sustainability outside of the EU.

Commenting on the launch of the Government’s Industrial Strategy Green Paper, Baxter said today:

“Government must use the Industrial Strategy as an opportunity to accelerate the UK’s transition to a low-carbon, resource efficient economy – one that is flexible and agile and which gives a progressive outlook for the UK’s future outside the EU.

We welcome the focus on skills and education, as it is vital that tomorrow’s workforce has the competence and capability to innovate and compete globally in high-value manufacturing and leading technology.

There is a real opportunity with the Industrial Strategy, and forthcoming 25 year Environment Plan and Carbon Emissions Reduction Plan, to set long-term economic and environmental outcomes which set the conditions to unlock investment, enhance natural capital and provide employment and export opportunities for UK business.

We will ensure that the Environment and Sustainability profession makes a positive contribution in responding to the Green Paper.”

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