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Wood Mackenzie: Battery storage will turn Europe’s gas peakers into stranded assets by 2030

first_imgWood Mackenzie: Battery storage will turn Europe’s gas peakers into stranded assets by 2030 FacebookTwitterLinkedInEmailPrint分享Greentech Media:Europe’s power system will look very different in 2030, with energy storage supporting the “dominance” of wind and solar generation, according to new research from Wood Mackenzie.The big five European markets—Germany, the U.K., France, Italy and Spain—will get the majority of their power from wind, solar and other variable renewable energy sources as early as 2023, WoodMac says. By 2040, Europe is expected to add another 169 gigawatts of wind and 172 gigawatts of solar.As that variable output surges, Europe has four options for balancing out its grid: pumped hydro, gas peakers, energy storage and interconnectors. Only the final three of the quartet are likely to be the focus of new investment.For now, “gas peakers are more essential than ever,” said Rory McCarthy, Wood Mackenzie principal analyst. “They can ramp up to full output from warm in a couple of minutes for modern systems, have increasing efficiency levels at part loading and boast unlimited duration, assuming a reliable gas supply.”But by the end of the decade, battery storage will be the cheapest option for balancing Europe’s grid, overtaking gas peakers, according to a new long-term energy storage outlook. Europe’s energy storage capacity across all segments is expected to grow from 3 gigawatts today (excluding pumped hydro) to 26 gigawatts in 2030—and 89 gigawatts by 2040.“By 2030 energy storage will beat gas peakers on cost across all our target markets, resulting in a cloudy outlook for any new future peaking turbines,” McCarthy said. “Fuel and carbon prices are on the up, technology costs are not set for any major decreases and net-zero policies will eventually target the decarbonization of all power market services.”[John Parnell]More: WoodMac: Wind, solar and storage to dominate Europe’s power grid by 2030last_img read more

Williams: ‘Innovation drives growth’

first_imgAuthor, innovator gives CU leaders tips on how to embrace innovation in the workplaceTurn on the television and chances are you’ll find a cooking show exploring how to take ingredients from the cupboard and combine them into a tasty dish.Innovation is no different.While the final product isn’t a delectable dish, the ideas that are created from innovative thinkers can lead to growth, Luke Williams said during an Executive Series session breakfast Tuesday, at the America’s Credit Union/World Council of Credit Unions Conference in Denver.“Innovation is taking the ingredients we have and looking for a different arrangement,” said Williams, the executive director at the NYU Stern School of Business, a fellow at the innovation company frog, and author of “Disrupt.”Leadership is about leading an organization through innovation, Williams said. While some may be hesitant to embrace change and new ideas, Williams said everyone should. continue reading » 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Hercules looks strong as profits soar

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LD returns 8.7% in 2014 on Danish equities, US investment growth

first_imgDenmark’s LD pension fund reported an investment return of 8.7% for 2014, and said strong returns on Danish shares and US investments in general had pushed profits higher.The return compares with 8.8% for the previous year.LD director Dorrit Vanglo said: “This is a really good result that we are very pleased with — seen both in the light of modest growth in the economy and the very low level of inflation.”While rising prices on the Danish equities market helped drive overall investment returns higher, the fall in interest rates over the year had increased profits on both general bonds and corporate bonds, LD said. “We have had positive returns in all funds, and when we look outside the country’s borders, it was particularly investments in the US that gave good results,” said Vanglo.She predicted that it would be the US that pulled the world economy forward in 2015 as well.At the same time, the stronger dollar meant goods produced in Europe would be relatively cheaper, thus making European business more competitive, she said.Assets under management rose by DKK1.2bn (€161m) in 2014 to end the year at DKK54.6bn, after payments made to members of DKK2.5bn.LD is a non-contributory pension scheme based on cost-of-living allowances granted to workers in 1980, and as such it receives no new contribution inflows.Vanglo said LD’s costs were being kept to an absolute minimum.“There are just 15 staff at LD and we have tight control over our suppliers, under which costs fall when overall assets and the number of members fall,” she said.For more on LD’s investment startegy, see investment editor Martin Steward’s interview with Dorrit Vanglolast_img read more

LA Clippers’ rebounding being put to the test

first_imgPLAYA VISTA >> The first month of the NBA schedule isn’t particularly kind to the Clippers. They play four sets of back-to-backs. They travel to Portland, to Memphis, to San Antonio, to Oklahoma City, to Minnesota, to Sacramento, to Dallas, to Detroit, to Indiana and to Brooklyn. The schedule allows for less than a handful of practices.But, in a calendar packed with 19 games in 34 days, coach Doc Rivers might actually have gotten a little lucky. The NBA’s schedule-makers gave him the perfect chance to reinforce the thing the Clippers have spoken about since their very first team meeting in training camp.The Clippers better rebound. If they don’t, their opponents absolutely will.Their first four opponents — Portland, Utah, who they play Sunday, Phoenix and Oklahoma City — all finished in the top seven in offensive rebounding percentage last season. The Clippers were the third-worst defensive rebounding team a year ago. Last year, the Clippers grabbed 15 or more offensive rebounds only four times. “That is not a focus,” Rivers said. “I want to be a better offensive rebounding team, don’t get me wrong. I’d rather not give up points the other way. That statistically is a fact. We know that to be true. “… If they’re under the basket, we want you to go after it. But if you don’t get it, you got to get back.”Bench steps upThe Clippers’ second unit continued to receive praise for its performance in the win at Portland. “I think our second unit really played well defensively the other night,” Jordan said. “They’re guarding Chris Paul, J.J. Redick and Blake Griffin every day, so it’s definitely going to be a challenge. But I think they did a great job defensively finishing off possessions and limiting those guys to one shot the other night.”Jamal Crawford said the bench played “agenda-free” basketball after his team won in Portland, and Saturday before practice, he continued to speak highly of their play. “Guys who understand their role I think is really, really key for us, because everybody has the right attitude and the right mindset,” Crawford said. “I feel like we’re one of the better second units in the league, even though we haven’t been together that long. If we can just keep getting better and better and keep getting more defined in our roles, I think we’ll be great.”Quick hitsBrice Johnson (back) and Paul Pierce (ankle) are both listed as “Out” on the Clippers’ injury report. … Alan Anderson (ankle) was healthy enough to play Thursday in Portland, but he, along with Brandon Bass and rookie Diamond Stone, didn’t see action. Thursday, they passed the first test, keeping Portland from winning the rebounding battles (the teams tied). But, Rivers said, they should’ve been better. “The ones that we can get, we have to get. I think we had six of them — we do our own count — that we should have got that we didn’t in the Portland game. That’s a lot actually,” Rivers said. “…Those are the ones we still have to get. And we watch film on rebounding now and that’s important.”The Clippers don’t need to see Utah on tape to know what’s in store for them Sunday afternoon in their home opener at Staples Center. They just need to look across the court at 7-foot-1 Rudy Gobert.“I mean, they got damn near one of the tallest guys in the league in Rudy, and he crashes the glass hard,” DeAndre Jordan said. “Now that (Derrick) Favors is back, he’s going to do the same thing…Whenever we can force those guys to one shot, don’t let them get a second one.”The Clippers have even discussed offensive rebounding, never part of Rivers’ coaching foundation. And while, he said it’s still not a priority, his team still managed to grab 15 offensive rebounds in its season-opening win at Portland. center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more