Seeking Alpha - Renewable Energy Is Seizing Market Share During The Pandemic

Renewable energy has surged to capture a record share of global electricity generation, seizing more market share during the coronavirus downturn. The steep drop in electricity demand, down by more than a fifth in some parts of the world, has hit energy producers everywhere. But because renewable energy has zero variable costs – the sun and wind are free once solar and wind farms are constructed – coal and natural gas are often pushed out of the market first.

That has renewables holding up a bit better than oil, gas and coal. In fact, renewables in some places are seizing the opportunity, potentially accelerating the energy transition. For example, renewables accounted for 44 percent of power generation in the European Union in the second quarter, up sharply from 37.2 percent in the same period a year earlier, according to Reuters. “We are seeing figures we weren’t expecting to see for another 10 years,” Matti Rautkivi, director of strategy and business development at Finnish energy tech group Wartsila, told Reuters.

https://oilprice.com/Energy/Energy-General/The-Pandemic-Has-Been-A-Major-Boon-For-Renewable-Energy.html

World Oil - Biden says fracing “not on the chopping block” in his $2 trillion climate plan

WASHINGTON (Bloomberg) --Joe Biden on Tuesday will unveil clean-energy and infrastructure plans that seek to balance progressives’ demands for bold action on climate against protecting swing-state jobs in a coronavirus-altered economy.

Biden’s plan includes $2 trillion in spending over four years and sets the goal of a 100% clean-energy standard by 2035, people briefed on the proposals said. That’s more spending over a shorter period than the $1.7 trillion, 10-year plan that Biden had offered during the Democratic primary.

The proposal is another key element of Biden’s broader plan to pull the U.S. out of the recession touched off by the pandemic as he builds his argument into the November election against President Donald Trump. With the energy plan, the Democratic nominee will seek to both revive the economy and address deeper systemic problems that existed before the virus hit.

https://www.worldoil.com/news/2020/7/14/biden-says-fracing-not-on-the-chopping-block-in-his-2-trillion-climate-plan

BTU Analytic - Are Solar Developers the Next Frackers

The energy industry is always chasing the next hottest trend, whether it was wholesale power trading in the 1990s, shale gas in the 2000s or unconventional oil in the 2010s. Each of these eras was driven by new technology and plenty of capital. Each era also had a cast of companies that pushed the edge of development and exhibited their own hubris and swagger. As always, as one era ends, a new one begins. Currently, a COVID-driven global recession has curbed oil and gas production growth for the time being. Meanwhile in the US, many large consumer-facing companies such as Facebook, Google and AT&T have sought renewable energy power purchase agreements to further bolster their appeal to consumers. One result is the most aggressive power generation development across all fuel types is now solar. This begs the question, are solar developers the energy industries next frackers? Is the massive buildout of solar development in the US another commodity cycle race to the bottom? Shale gas E&Ps had a decade of easy access to capital as equity markets funded ‘growth at all costs’ strategies. Are solar developers in the same position now or is this time different? This Energy Market Insight will compare historical shale gas production growth rates by play to development of solar generation by ISO to see which development process is more aggressive.

https://btuanalytics.com/power-and-renewables/are-solar-developers-the-next-frackers/

EIA - U.S. renewable energy consumption surpasses coal for the first time in over 130 years

In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S. Energy Information Administration’s (EIA) Monthly Energy Review. This outcome mainly reflects the continued decline in the amount of coal used for electricity generation over the past decade as well as growth in renewable energy, mostly from wind and solar. Compared with 2018, coal consumption in the United States decreased nearly 15%, and total renewable energy consumption grew by 1%.

https://www.eia.gov/todayinenergy/detail.php?id=43895&src=email