EU plans subsidy war chest as industry faces ‘existential’ threat from US

Press play to listen to this article Voiced by artificial intelligence. The EU is in emergency mode and is readying a big subsidy push to prevent European industry from being wiped out by American rivals, two senior EU officials told POLITICO. Europe is facing a double hammer blow from the U.S. If it weren’t enough … Read more

The Onion’s Guide To Renewable Energy

Renewable energy is on the rise as it becomes cheaper to produce the necessary tools and systems for transitioning the planet to a greener future. The Onion presents a glossary to common terms in the renewable energy space. Wind Turbine: Electromechanical device that converts the wind’s kinetic energy into dead birds. Hydropower: It’s like when … Read more

The US-China climate deal was a rare bright spot in an otherwise thorny relationship. Should it be mended? | CNN

CNN  —  One of the biggest surprises at last year’s United Nations climate summit came in the form of a handshake. US climate envoy John Kerry and his China counterpart Xie Zhenhua did so at COP26 in Glasgow as they announced a commitment to cooperate on the climate crisis. The countries vowed to work together … Read more

As countries convene at climate summit in Egypt, reports show the world is wildly off track. Here’s what to watch at COP27 | CNN

CNN  —  As global leaders converge in Sharm el-Sheikh, Egypt, for the UN’s annual climate summit, researchers, advocates and the United Nations itself are warning the world is still wildly off-track on its goal to halt global warming and prevent the worst consequences of the climate crisis. Over the next two weeks, negotiators from nearly … Read more

South Africa gets $497m from World Bank for clean energy sourcing

Africa’s most industrialised economy is heavily dependent on coal, which generates 80 percent of its electricity. South Africa, one of the world’s largest greenhouse-gas emitters, has been granted financing of $497m to decommission one of its largest coal-fired power plants and convert it to renewable energy, the World Bank said. In a statement overnight on … Read more

Poland, South Korea sign outline accords on nuclear power project

South Korea and Poland to assess the viability of building four 1,400-megawatt nuclear reactors in Patnow. Seoul and Warsaw have signed outline agreements to develop nuclear power in Poland, according to ministries from both countries, as Poland strives to phase out coal and lower its carbon emissions and South Korea seeks to revive its nuclear … Read more

Emmanuel Macron calls for ‘Buy European Act’ to protect regional carmakers

PARIS — Emmanuel Macron called for a “Buy European Act” on Wednesday to protect carmakers on the Continent in the face of competition from China and in response to the United States’ own controversial scheme to incentivize domestic production. Speaking on TV channel France 2, the French president criticized the European Union as being “too … Read more

Global CO2 emissions from fossil fuels to rise by less than 1% this year as renewables and EVs take off | CNN Business

CNN  —  Finally, some good news in the battle against greenhouse gasses: Carbon dioxide (CO2) emissions from the burning of fossil fuels are on track to rise less than 1% this year. That’s despite widespread concerns of a rush back to coal, oil and gas amid a global energy crunch and Russia’s war in Ukraine. … Read more

EU produces record wind and solar energy as it shirks Russian gas | CNN Business

LondonCNN  —  Wind and solar power have made up a record 24% of the European Union’s electricity mix since Russia launched its war on Ukraine, a new report says, a boost that has also helped the bloc battle soaring inflation. The growth in renewable power capacity has saved the 27-nation bloc €99 billion ($97 billion) … Read more

Xcel Asking Public Utilities Commission to Raise Gas Rates. Here’s Why

Just as many Coloradans are turning on their heating systems, the Colorado Public Utilities Commission is about to rule on an Xcel Energy gas-rate case that would raise rates for consumers, as well as potentially approve a new Renewable Energy Plan, which wouldn’t. Xcel Energy, the electric and gas utility that covers the Denver area and … Read more