A new European phrase of world-leading collaborative development, research and demonstration (R&D) programme – the Offshore Wind Accelerator (OWA) was revealed by The Carbon Trust. This programme is designed to impact the levelised cost of energy (LCoE) from offshore wind and improve efficiency, availability and reduce costs of existing and future offshore wind farms.
Nine of the largest offshore wind developers in Europe: DONG Energy, EnBW, E.ON, Iberdrola, RWE, SSE, Statkraft, Statoil and Vattenfall have signed up to the programme. Over the next four years the developers will collectively invest at least £6.4 million, boosted by a further £1.5 million from the Scottish Government, to bring new innovations to market that will help to ensure that the typical cost of offshore wind is below £100 per MWh by 2020.
The success of the OWA over the past eight years has been based on an exemplary industry-led RD&D model where the priorities are set by developers to facilitate targeted and efficient commercialisation of new innovations. The projects undertaken by the OWA programme are selected to impact the LCoE by improving performance in offshore wind farm design, construction and operation.
The Scottish Government’s Minister for Business, Innovation and Energy, Paul Wheelhouse said:
“The Offshore Wind Accelerator (OWA) is a collaborative programme run by the Carbon Trust, which aims to reduce the cost of offshore wind through technological innovation.
“Previous Scottish Government support for the OWA has helped develop new ideas in key areas of importance to companies operating in Scottish waters and I have no doubt this new funding will help firms to continue this important work.
“Only last month, around 350 jobs were announced as a direct result of the construction of the Beatrice Offshore Windfarm, highlighting the massive opportunity offshore wind presents to Scotland and the Scottish economy.
“Innovation in renewables also continues to contribute to the excellent progress we are making on reducing greenhouse gas emissions after the recent announcement that Scotland has exceeded our 2020 target to reduce greenhouse gas emissions by 42% six years early.”
Tom Delay, Chief Executive Officer, the Carbon Trust commented:
Over the last five years the cost of energy from offshore wind has decreased significantly, largely driven by a combination of innovation, risk reduction and increased deployment rates.
“But we need to continue building on this success by getting the right solutions into market quickly to put offshore wind on the path to cost competitiveness by 2020. The Offshore Wind Accelerator has an impressive track record, providing an effective mechanism for public and private sector to work together to meet the cost reduction challenge head on. Its success lies in the sharing of the risks and rewards of innovation through industry-led collaborative research, development and deployment.
The Scottish Government’s £1.5m investment into the programme, alongside nine of the biggest developers in Europe, shows there is real confidence in the ability of the OWA to continue to deliver cost reductions. We hope this will enable us to leverage further public and private investment into the programme, so our cost reduction ambitions for this important sector can be surpassed.”
Dirk Güsewell, Senior Vice President Generation Portfolio Development of EnBW Energie Baden-Württemberg AG commented:
“Innovation and cost reduction are key for the future of offshore wind. EnBW believes that the OWA consortium is an excellent industry-driven vehicle to further assess which technologies will lead to these objectives.”
Jonathan Cole, Iberdrola Offshore Managing Director said:
“It is vital that the industry continues to work together in order to drive down costs in offshore renewables. The North Sea is the world’s leading offshore wind development area, and the collaboration between large international developers here is a welcome move towards securing and delivering affordable low carbon energy generation.”
The OWA programme, originally created in 2008, has been a driving force behind a range of new innovations such as; developing and demonstrating new foundations; the development and adoption of 66kV cabling; improving wind resource measurement and modelling, and new innovative access vessels. Over the last eight years the OWA has delivered over 125 projects, ranging from feasibility studies to multimillion-pound, full-scale technology demonstrations. Today, many of the innovations commercialised through the OWA are being deployed by developers building Round 2 and Round 3 wind farm sites, and are delivering direct cost reductions now.
Following a record year for installations in 2015 the European Wind Energy Association estimates that over 20GW of offshore wind will be deployed in Europe by 2020. In additional to benefits of creating a low carbon secure source of electricity, offshore wind also offers greater economic and employment opportunities. Estimates from the International Renewable Energy Agency show that jobs in the European offshore wind industry increased twelvefold between 2007 (6,370) to 2014 (75,000).
OWA partners including RWE, E.ON, Vattenfall and Statoil were among a group of companies who published an open letter earlier this month, outlining a pledge to cut the cost of offshore wind farms to make them a competitive source of electricity generation. The declaration set out an ambition to reach €80 per megawatt hour by 2025.
7 New Technologies That Could Radically Change Our Energy Consumption
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:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
Responsible Energy Investments Could Solve Retirement Funding Crisis
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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