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The Isle of Man signs agreement to explore potential for offshore wind farm development

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The Isle of Man Department of Infrastructure has today signed a contract with DONG Energy aimed at further unlocking the Island’s potential to become a leader in offshore energy production, and work with the UK to meet its renewable energy targets.The Isle of Man is working with the UK in response to the global challenges that energy security and climate change present, and this represents a significant step forward.

The Agreement for Lease will allow DONG Energy, the UK’s largest operator of offshore wind farm developments, to explore the possibility of developing a wind farm in Manx waters off the north east coast of the Island.

The creation of an offshore energy hub is one of the core strategies of the Government’s long-term plans for economic growth. Leasing parts of the Isle of Man’s seabed for renewable energy generation is expected to make a significant contribution to public funds and local job creation, as well as lowering global carbon emissions.

DONG Energy is one of the leading energy groups in Northern Europe and recently announced plans to build the world’s biggest offshore wind farm in the Irish Sea off the coast of Cumbria. Walney Extension is expected to be fully commissioned in 2018, surpassing the scale of the London Array Offshore Wind Farm.

The agreement with the Department of Infrastructure will enable the company to carry out preliminary surveys to determine the practicality and commercial viability of siting wind turbines within the 12-mile limit of the Island’s territorial sea.

Today’s announcement reinforces the Isle of Man’s desire to harness its natural resources for offshore energy production. It follows the granting of a survey licence to assess the potential to develop a tidal array off the North of the Island at Point of Ayre.

Infrastructure Minister Phil Gawne MHK said: ‘The opportunities for renewable energy in Manx territorial waters are significant. The ambition of the industry is matched by a commitment from the Isle of Man Government to maximise the vast potential of the Irish Sea’s clean energy resources. DONG Energy is a world-renowned company with a strong track record of achievement in the development of offshore wind farms. We look forward to working with them to progress this exciting initiative.’

The Department of Infrastructure is working closely with the Department of Economic Development, the Department of Environment, Food and Agriculture and Treasury to develop the proposals.

Any wind farm development would be subject to approval under the relevant consenting regime and would also require the submission of a full environmental impact assessment, taking into account the need to protect transport links and fisheries.

Economic Development Minister Laurence Skelly MHK said: ‘The renewable energy sector has huge potential for the future and is a key part of our strategy to deliver Vision 2020 and grow the economy. As well as raising income through leasing parts of our seabed, there is the possibility of new jobs for Isle of Man workers, as offshore installations require onshore support to manage their operation and maintenance. If a wind farm in Manx waters is viable, all the infrastructure costs would be borne by the developer rather than the Isle of Man Government.’

He added: ‘DONG Energy is the global market leader in offshore wind farm developments and will bring a wealth of knowledge and experience to this project.’

Developments in renewable energy could open up an opportunity for the Isle of Man to position itself as a hub to coordinate offshore projects and enhance connections between countries in the Irish Sea region. There may also be a scope to secure future renewable electricity supplies for domestic use in the Isle of Man, as well as exporting power to the UK.

Benj Sykes, DONG Energy Vice President, UK Wind Power and Head of Asset Management, said: ‘We are pleased to sign this Agreement for Lease with the Isle of Man Government, which allows us to carry out the necessary investigations to check whether we can progress our plans to build an offshore wind farm off the east coast of the Isle of Man. We are still very much in the early stages, but this agreement means we can move forward with assessing vital factors, such as wind speeds and ground conditions, critical to determining the viability of the project.’

Energy

7 New Technologies That Could Radically Change Our Energy Consumption

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Energy Consumption
Shutterstock Licensed Photo - By Syda Productions | https://www.shutterstock.com/g/dolgachov

Most of our focus on technological development to lessen our environmental impact has been focused on cleaner, more efficient methods of generating electricity. The cost of solar energy production, for example, is slated to fall more than 75 percent between 2010 and 2020.

This is a massive step forward, and it’s good that engineers and researchers are working for even more advancements in this area. But what about technologies that reduce the amount of energy we demand in the first place?

Though it doesn’t get as much attention in the press, we’re making tremendous progress in this area, too.

New Technologies to Watch

These are some of the top emerging technologies that have the power to reduce our energy demands:

  1. Self-driving cars. Self-driving cars are still in development, but they’re already being hailed as potential ways to eliminate a number of problems on the road, including the epidemic of distracted driving ironically driven by other new technologies. However, even autonomous vehicle proponents often miss the tremendous energy savings that self-driving cars could have on the world. With a fleet of autonomous vehicles at our beck and call, consumers will spend less time driving themselves and more time carpooling, dramatically reducing overall fuel consumption once it’s fully adopted.
  2. Magnetocaloric tech. The magnetocaloric effect isn’t exactly new—it was actually discovered in 1881—but it’s only recently being studied and applied to commercial appliances. Essentially, this technology relies on changing magnetic fields to produce a cooling effect, which could be used in refrigerators and air conditioners to significantly reduce the amount of electricity required.
  3. New types of insulation. Insulation is the best asset we have to keep our homes thermoregulated; they keep cold or warm air in (depending on the season) and keep warm or cold air out (again, depending on the season). New insulation technology has the power to improve this efficiency many times over, decreasing our need for heating and cooling entirely. For example, some new automated sealing technologies can seal gaps between 0.5 inches wide and the width of a human hair.
  4. Better lights. Fluorescent bulbs were a dramatic improvement over incandescent bulbs, and LEDs were a dramatic improvement over fluorescent bulbs—but the improvements may not end there. Scientists are currently researching even better types of light bulbs, and more efficient applications of LEDs while they’re at it.
  5. Better heat pumps. Heat pumps are built to transfer heat from one location to another, and can be used to efficiently manage temperatures—keeping homes warm while requiring less energy expenditure. For example, some heat pumps are built for residential heating and cooling, while others are being used to make more efficient appliances, like dryers.
  6. The internet of things. The internet of things and “smart” devices is another development that can significantly reduce our energy demands. For example, “smart” windows may be able to respond dynamically to changing light conditions to heat or cool the house more efficiently, and “smart” refrigerators may be able to respond dynamically to new conditions. There are several reasons for this improvement. First, smart devices automate things, so it’s easier to control your energy consumption. Second, they track your consumption patterns, so it’s easier to conceptualize your impact. Third, they’re often designed with efficiency in mind from the beginning, reducing energy demands, even without the high-tech interfaces.
  7. Machine learning. Machine learning and artificial intelligence (AI) technologies have the power to improve almost every other item on this list. By studying consumer patterns and recommending new strategies, or automatically controlling certain features, machine learning algorithms have the power to fundamentally change how we use energy in our homes and businesses.

Making the Investment

All technologies need time, money, and consumer acceptance to be developed. Fortunately, a growing number of consumers are becoming enthusiastic about finding new ways to reduce their energy consumption and overall environmental impact. As long as we keep making the investment, our tools to create cleaner energy and demand less energy in the first place should have a massive positive effect on our environment—and even our daily lives.

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Energy

Responsible Energy Investments Could Solve Retirement Funding Crisis

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Energy Investments
Shutterstock / By Sergey Nivens | https://www.shutterstock.com/g/nivens

Retiring baby-boomers are facing a retirement cliff, at the same time as mother nature unleashes her fury with devastating storms tied to the impact of global warming. There could be a unique solution to the challenges associated with climate change – investments in clean energy from retirement funds.

Financial savings play a very important role in everyone’s life and one must start planning for it as soon as possible. It’s shocking how quickly seniors can burn through their nest egg – leaving many wondering, “How long your retirement savings will last?

Let’s take a closer look at how seniors can take baby steps on the path to retiring with dignity, while helping to clean up our environment.

Tip #1: Focus & Determination

Like in other work, it is very important to focus and be determined. If retirement is around the corner, then make sure to start putting some money away for retirement. No one can ever achieve anything without dedication and focus – whether it’s saving the planet, or saving for retirement.

Tip #2: Minimize Spending

One of the most important things that you need to do is to minimize your expenditures. Reducing consumption is good for the planet too!

Tip #3: Visualize Your Goal

You can achieve more if you have a clearly defined goal in life. This about how your money can be used to better the planet – imagine cleaner air, water and a healthier environment to leave to your grandchildren.

Investing in Clean Energy

One of the hottest and most popular industries for investment today is the energy market – the trading of energy commodities. Clean energy commodities are traded alongside dirty energy supplies. You might be surprised to learn that clean energy is becoming much more competitive.

With green biz becoming more popular, it is quickly becoming a powerful tool for diversified retirement investing.

The Future of Green Biz

As far as the future is concerned, energy businesses are going to continue getting bigger and better. There are many leading energy companies in the market that already have very high stock prices, yet people are continuing to investing in them.

Green initiatives are impacting every industry. Go Green campaigns are a PR staple of every modern brand. For the energy-sector in the US, solar energy investments are considered to be the most accessible form of clean energy investment. Though investing in any energy business comes with some risks, the demand for energy isn’t going anywhere.

In conclusion, if you want to start saving for your retirement, then clean energy stocks and commodity trading are some of the best options for wallets and the planet. Investing in clean energy products, like solar power, is a more long-term investment. It’s quite stable and comes with a significant profit margin. And it’s amazing for the planet!

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