Tag Archives: Dominion Energy

US reducing power sector CO2 emissions while growing economy: study

At-a-Glance:

The US power industry has been making steady progress reducing greenhouse gas emissions, with power sector carbon dioxide emissions decreasing about 10% between 2019 and 2020 because of a mixture of pandemic impacts, energy efficiency and fuel switching away from coal, a July 20 report said. This year’s report, which has been prepared since 1997, highlighted several “dramatic shifts,” as the share of power produced by non-hydro renewables increased 20% from 2019 levels and the share from coal-fired generation decreased by roughly 17%, the statement said. To learn more, read “US reducing power sector CO2 emissions while growing economy: study.”

Key Takeaways:

  • An S&P Global Platts analysis earlier this year showed the US now has at least 20 states, plus the District of Columbia, with aggressive plans in the works for 100% renewable power, carbon-free power or net-zero emissions, roughly double the number from a year ago, while 12 states have not initiated any clean energy plans.
  • The 100 largest power producers in the US own nearly 3,500 power plants and account for more than 80% of the sector’s power generation and reported air emissions, according to the benchmarking report, which relies on data from state agencies, along with the US Environmental Protection Agency and US Energy Information Administration.
  • The top five producers of zero-carbon power in 2019 were Exelon, NextEra Energy, Duke Energy, Tennessee Valley Authority and Entergy.
  • The top five generators with the lowest CO2 emissions rates in 2019 were Exelon, Public Service Enterprise Group, NextEra Energy, Entergy, and Dominion Energy, according to the report.
  • Facilities in Texas produced 483 million MWh compared with just 42 million MWh in Wyoming, but only about 19% of the power produced in Texas comes from coal, compared with 83.9% in Wyoming, he added.

Path to 100% Perspective: 

State, provincial, municipal and in some cases national governments are declaring mandatory targets for 100% clean power. These regulatory targets are often considered renewable mandates as it is commonly understood that wind, solar, hydro and other renewable energy sources are needed to replace fossil-fuel power plants in a zero-carbon emissions future. According to the UCLA Luskin Center For Innovation November 2019 report of the Progress Toward 100% Clean Energy in Cities and States Across the U.S., a growing number of investor owned utilities are making 100% commitments, whether the states they supply energy to mandate the requirement or not. This private-public commitment to decarbonization is continuing to build momentum toward a renewable energy future. 

How Green Energy Will Transform the Ranks of the World’s Biggest Electric Generators

At-a-Glance:

The world’s energy sector has embarked on a transitional journey to a clean, green, low-carbon future powered by windmills and solar panels. It’s going to be a long trip. According to the International Energy Agency, we still derive an incredible 80% of our primary energy from fossil fuels—with oil contributing 32%, coal 27% and natural gas 23%. To learn more, read “How Green Energy Will Transform the Ranks of the World’s Biggest Electric Generators.” Reading this article may require a subscription from the news outlet.

Key Takeaways:

  • Electric industry analyst Hugh Wynne of research shop SSR says carbon dioxide will be regulated in one way or another, via a carbon tax, cap-and-trade or emissions allowances.
  • Analysts believe companies with stubbornly high emissions are going to have to pay to pollute — while those with low emissions will enjoy a profitability advantage.
  • Wynne found the “dirtiest” utilities are those with coal-fired fleets in China, Russia and India.
  • Meanwhile, some of the more progressively minded utility companies are keen to take advantage of new tools evolving out of advances in machine learning and artificial intelligence.
  • Forbes Global 2000 companies Southern Company, Exelon, and Dominion Energy are all customers of a startup called Urbint, which was founded by Forbes 30 Under 30 alum Corey Capasso and has raised more than $40 million in funding for its A.I.-driven infrastructure safety platform.

Path to 100% Perspective:

Artificial intelligence (AI) is a very broad field. Forecasts for price and power are generated by AI and represent the expected trajectory or probability distribution of that value. In the end, as a power trader, it is important to remember the historical data is not a picture of the future, but rather a statistical distribution that can be leveraged to inform the most probable outcome of the unknown future. AI is more capable at leveraging statistics than people will ever be. The benefit of using AI is more effective utilization of the existing infrastructure. There is quite a bit of under-utilized infrastructure in the power generation industry. However, with the use of greater intelligence on the edges of the network coupled with great intelligence at the points of central dispatch, under-utilized infrastructure can be maximized for a more reliable power system.