Happy New Year, Awesome People!
Welcome to 2022!
The turning of the year provides the opportunity to stop, see where we are, remember the lessons of where we\u2019ve come from, and determine our intentions and goals for the future.
In the first AWESome EarthKind episode over a year ago, we interviewed Denis Hayes, the original organizer of Earth Day who then led the movement that made Earth Day the most widely celebrated secular holiday in the world, involving over 1 Billion human beings.
In that interview, Denis spoke about how there is Always Hope. He recounts several turning points in history where the future was dark and bleak \u2013 and yet, despite the odds, people held onto hope and snatched victory out of the jaws of impending defeat.
While today there is much to be rightly concerned about \u2013 there are also brilliant starbursts of light that ignite hope and show us a path forward.
Here are some excerpts from the Good News Network (https://www.goodnewsnetwork.org/) and various other sources:
Despite a few national governments continuing to keep their coal and oil projects afloat, market demand and private entrepreneurship is driving what can only be described as a revolution in renewable energy.
These latest achievements were basically unbelievable when global climate change was first being discussed as a serious threat. But today, each successive development of renewable energy generation, clean heating & cooling, and electric cars, makes new achievements cheaper and easier to scale.
Solar for the Developing World
A half-million people living in 3 of the Northern Congo cities are going to be supplied with reliable renewable energy by a trio of United Kingdom, French, and Spanish solar power companies.
Citizens from that region suffer from the lowest rates of reliable electricity in the world. The solar power plants with battery storage will now resolve this problem.
In West Africa, 2 Senegalese cities will find 60MW of solar power\xa0available to them in the coming months as a variety of institutions offer government financing for sustainable energy. Senegal is a heavy net energy-importer, placing enormous financial burdens on people for the importatino of coal and oil.
In Nigeria, one of Africa\u2019s largest economies, the\xa0Solar Power Naija program\xa0will equip 500,000 homes with solar panels, generating electricity for 25 million Nigerians.
Solar on Demand \u2013 the least expensive energy source on the planet
The United States National Renewable Energy Lab (NREL) reports that solar and storage costs have fallen dramatically over\xa0the past decade. The price of residential solar was reported down from $7.53/W in 2010 to $2.65/W in 2021,; utility-scale solar was $5.66/W a decade ago to $0.89/W today.
That was driven in large part by higher module efficiency and lower module cost.\xa0
The combination of low-cost solar farms and lithium-ion batteries has produced a dynamic new hybrid resource capable of providing energy from the sun after dark and reshaping America's power mix in the 2020s. The spread of these hybrid facilities has been fueled largely by plummeting solar-plus-storage prices, which have begun undercutting conventional fossil-fueled generation.
Levelized solar energy prices - Adjusted for inflation over the estimated 30-year lives of the projects - are in the 2 to 3 cents per kwh range, according to a recent report from\xa0Lawrence Berkeley National Laboratory.
Just a few years ago, solar-plus-storage prices were more than triple today's going rates.
Today, solar and battery storage provide the lowest cost energy on the planet. Last year, 3/4s of all new electric generation capacity in the world was built with solar.
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The windiest on record
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2021 was the single best year on record for wind turbine manufacturers with 93 new gigawatts (BILLION watts) being added\u2014a 53% increase since 2020.\xa0 The\xa02021 Global Wind Report summary states:
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\u201cThrough technology innovations and economies of scale, the global wind power market has nearly quadrupled in size over the past decade and established itself as one of the most cost-competitive and resilient power sources across the world.\u201d
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\u201cToday, there is now 743 GW of wind power capacity worldwide, helping to avoid over 1.1 billion tons of CO2 globally\u2014equivalent to the annual carbon emissions of South America.\u201d
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HOT ELECTRIC CARS
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Data assembled back in March from Germany\u2019s largest automotive industry review produced a startling statistic - 1 in 5 cars made in Germany can be plugged in.
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The Schmidt Automotive Research Center\xa0found\xa0that 74,000 of the 374,000 cars that left German assembly lines were either electric or hybrid electric vehicles.
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On the demand side, things are just as rosy. Germany is the fourth largest auto market in the world, and\xa0electric car registrations grew from a 4% national market share in December 2019, to a whopping 26% market share just 12 months later.\xa0
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This is just in the background of a global surge in EV purchasing\xa0that climbed 40%\xa0during 2020, when most markets were suffering from COVID-related issues.
Bloomberg New Energy Fund \u201cexpects that\xa0EVs\xa0will make up 20-30% of sales in the United States, European Union and China by 2025,\xa0based on "proposed and confirmed rules" in those markets. President Joe Biden has set a goal for\xa0half of new passenger vehicle sales\xa0in the United States to be electric vehicles by 2030. And New York and others have banned the sale of gas cars by 2035.
2021 is estimated to be "yet another record year for EV sales globally," with 5.6 million sold. That is 83% higher than 2020 and a 168% increase over 2019 sales.
And global momentum towards zero-emissions vehicles (ZEV)\xa0has "accelerated significantly," Bloomberg said. EVs will "capture a higher share of passenger vehicle sales, sooner than previously expected."
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The green new pension
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Since its green shoots 50 years ago, acceptance of ESG (environmental, social, and governance) considerations in institutional investing \u2013 especially at pension funds \u2013 has evolved with distinct shifts in investor preferences.
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As the holders of the largest state-controlled pension fund on Earth, the South Korean monetary authorities\xa0released a statement\xa0in May that the $771 billion National Pension Fund will cease all investments related to coal power both at home and abroad.
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The fund also announced that they would revamp guidelines for investment strategies to ensure a more sustainable pattern emerges in the future.
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Worldwide, ESG (Environmental Social & Governance) assets surpassed\xa0$35 trillion in\xa02020 - up from $30.6 trillion in 2018 and $22.8 trillion in 2016 reaching a third of current total global assets under management, according to the Global Sustainable Investment Association.
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ExxonMobil \u2013 long known for its anti-climate change positions - used to have bragging rights as the world's most valuable public company with $500 Billion of market valuation. Now, America's largest oil company is in steady decline. It\u2019s been kicked out of the Dow Jones Industrial Average and has less than half of its peak market value.
Adios, coal: Spain hits 50% renewable milestone
Back in mid-May, the Spanish legislature\xa0announced\xa0it would be phasing out all oil, coal, and gas production by 2042, and that all carbon-emitting vehicle sales would be banned by 2040.
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In the short term, the Spanish lawmakers want 74% of the national energy consumption to be entirely renewable by the end of the decade. They are quite close to that goal already, as the month of May saw\xa050% of the nation\u2019s energy\xa0demand fulfilled by green energy.
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Romania also joined the effort, alerting the EU that through its National Recovery and Resilience Plan the country would\xa0cease all coal production\xa0by 2032, at which time it plans to have installed 34% renewable electricity to take over the baton.
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G7, the world\u2019s seven largest developed economies,\xa0all agreed to stop\xa0coal financing by the end of the year. Now that Japan is also on board, that leaves the African, India, and China as the last remaining holdouts.
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In the US, 22 states now have carbon-free energy goals:
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Arizona
100% carbon-free electricity by 2070
Adopted by order of the Arizona Commerce Commission in May 2021, extending and expanding the existing state RPS. Docket number\xa0RU-00000A-18-0284.
California
100% carbon-free electricity by 2045
2018 legislation (SB 100) extended and expanded the existing state RPS. State agencies are required to submit implementation plans by January 1, 2021. Also in 2018, Gov. Jerry Brown\u2019s\xa0Executive Order B-55-18\xa0set a goal of statewide carbon neutrality by no later than 2045, with net negative GHG emissions thereafter.
Colorado
100% carbon-free electricity by 2050 for Xcel Energy
A 2019 law (SB 19-236) codified a pledge previously made by Xcel, whose service territory covers approximately 60% of the state\u2019s load. It is mandatory \u201cso long as it is technically and economically feasible.\u201d
Connecticut
100% carbon-free electricity by 2040
Governor Ned Lamont\u2019s 2019 Executive Order (Number 3) set a 2040 goal for carbon-free electricity and asked the Department of Energy and Environmental Protection to develop a decarbonization plan for the power sector, in line with previous legislation to cut economy-wide carbon emissions by 80% below 2001 levels by 2050.
District of Columbia
100% renewable energy by 2032 through the RPS
The Clean Energy DC Omnibus Amendment Act of 2018 (DC Act 22-583) amended the existing RPS to mandate 100% renewable electricity by the year 2032.
Hawaii
100% renewable energy by 2045 through the RPS
2015 legislation (HB623) made Hawaii the first state to set a 100% RPS for the electricity sector.
Illinois
100% clean energy by 2050
2021 legislation (SB2408) established a goal of 100% clean energy by 2050, with interim targets of 40% by 2030 and 50% by 2040.
Louisiana
Net zero greenhouse gas emissions by 2050
Governor John Bel Edwards\u2019 2020 Executive Order (JBE 2020-18) established a Climate Initiatives Task Force to develop a roadmap and make recommendations.
Maine
100% clean energy by 2050
2019 legislation (LD 1494) increased Maine\u2019s RPS to 80% by 2030, and set a goal of 100% by 2050. Also\xa0LD1679\xa0sets an economy-wide goal of 80% cuts to greenhouse gases by 2050.
Massachusetts
Net-zero greenhouse gas emissions by 2050
In 2020, the Secretary of Energy and Environmental Affairs set a 2050 net-zero GHG emissions goal under the authority of 2008 legislation. The same goal was then included in a March 2021 climate action law (Bill S.9). A decarbonization roadmap was released at the end of 2020.
Michigan
Economy-wide carbon neutrality by 2050
Governor Gretchen Whitmer\u2019s order in 2020 (Executive Directive 2020-10) set a goal \u201cto achieve economy-wide carbon neutrality no later than 2050.\u201d It directed the Department of Environment, Great Lakes, and Energy to develop a plan by the end of 2021.
Nebraska
Net-zero carbon emissions from generation resources by 2050 for Nebraska Public Power District and Omaha Public Power District; 2040 for Lincoln Electric System
Nebraska is the only state served solely by publicly owned utilities. As of December 2021, the three public utilities that serve the vast majority of customers have all adopted 100% clean energy goals.
Nevada
100% carbon-free electricity by 2050
2019 legislation (SB 358) raised the RPS to 50% by 2030, and set a goal of a net-zero emission power sector by 2050.
New Jersey
100% carbon-free electricity by 2050
Governor Phil Murphy\u2019s\xa0Executive Order 28\xa0in 2018 set a carbon free goal for the power sector and directed the BPU to develop an Energy Master Plan, which was released in 2020.
New Mexico
100% carbon-free electricity by 2045
2019 legislation (SB 489) requires a zero-carbon power supply by 2050, with at least 80% from renewables.
New York
100% carbon-free electricity by 2040
2019 legislation (S6599) requires zero-emissions electricity by 2040 and sets a goal of cutting all state GHGs 85% by 2050. A Climate Action Council will develop a plan.
North Carolina
Carbon neutrality in the electricity sector by 2050
2021 legislation (HB 951) requires the North Carolina Utilities Commission to \u201ctake all reasonable steps\u201d to achieve a 70% reduction in CO2 emissions from electric generating facilities in the state by 2030 and carbon neutrality by 2050.
Oregon
Greenhouse gas emissions reduced 100 percent below baseline emissions by 2040
2021 legislation (HB 2021) requires investor-owned utilities to reduce greenhouse gas emissions associated with the electricity they sell to 80 percent below baseline emissions levels by 2030, 90 percent below baseline emissions levels by 2035, and 100 percent below baseline emissions levels by 2040.
Puerto Rico
100% renewable energy for electricity by 2050
2019 legislation (SB1121), the Public Energy Policy Law of Puerto Rico, set a timeline for reaching 100% renewable electricity by the year 2050.
Rhode Island
100% renewable energy electricity by 2030
Governor Gina Raimondo\u2019s 2020 Executive Order (20-01) requires the Office of Energy Resources to \u201cconduct economic and energy market analysis and develop viable policy and programmatic pathways\u201d to meet 100% of statewide electricity deliveries with renewables by 2030.
Virginia
100% carbon-free electricity by 2045 for Dominion Energy and 2050 for Appalachian Power Company
The 2020 Virginia Clean Economy Act (House Bill 1526\xa0and\xa0Senate Bill 851) requires zero-carbon utilities by 2050 at the latest.
Washington
100% zero-emissions electricity by 2045
2019\u2019s Clean Energy Transformation Act (SB5116) applies to all utilities. The state Commerce Department started a rulemaking process in August 2019. Utilities must file implementation plans by January 2022.
Wisconsin
100% carbon-free electricity by 2050
Governor Tony Evers\u2019 Executive Order (EO38) in 2019 directed a new Office of Sustainability and Clean Energy to \u201cachieve a goal\u201d of all carbon-free power by 2050.
Natural Gas Moratoriums & Heat Pumps Dozens of cities, including San Francisco, Berkeley and San Jose in California; Cambridge, Mass.; and Seattle,\xa0Oregon have moved to ban natural gas hook ups\xa0in new buildings as a way to combat climate change. In Westchester NY, there has been a moratorium on new natural gas hookups since 2018.\xa0 And on December 15th, 2021 - New York City banned natural gas hookups for new buildings starting in 2027. Previously, Geothermal or ground source heat pumps were growing at a rate of\xa0 7% per year. Since geothermal is the most efficient form of heating and cooling \u2013 with 500% efficiencies from using the stored heat in the ground beneath our feet \u2013 it is expected that the growth in both air and ground source heat pumps will soon reach double digits.\xa0\xa0
Green oil
All is not business-as-usual in the boardrooms of some of the world\u2019s largest petroleum producers.
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In a landmark court decision, a judge in the Netherlands\xa0ordered Royal Dutch Shell\xa0to cut emissions by 45% after 17,000 people brought a lawsuit that Shell\u2019s large greenhouse gas footprint merits a significant investment in CO2-slashing as a debt to society.
Elsewhere in Europe, the Italian oil company Eni became the first European oil company to launch a corporate bond that is linked to sustainability.
The \u20ac1 billion 7-year bond is linked to two key performance indicators: \u201cIncreasing renewable installed capacity to 5GW by the end of 2025; and cutting the net carbon footprint of its upstream business by 50% by 2024,\u201d
Lastly, Engine No.1, a shareholder group of ExxonMobil, managed to get two of their candidates elected to the American company\u2019s board on the argument that the company\u2019s long-term business strategy didn\u2019t take into account all of the value loss potential from climate change, both from shareholders jumping ship, and potential damages from extreme weather events.
BlackRock, the world\u2019s largest asset manager with $8.6 trillion in private capital, ensured the Engine No.1 candidates got the positions by utilizing their vote as large shareholders.
100% Clean Energy
On April 29th, 2021 over 29 million people in California got 95% of their power from renewable energy\u2014 and were contributing virtually nothing towards climate change as far as their electricity needs were concerned.\xa0
California follows another major population center, South Australia,\xa0which recently fulfilled 100% demand with renewables.
\u201cIt sends chills down my spine. It\u2019s amazing,\u201d said Elliot Mainzer, president and CEO of the California Independent System Operator, which runs the state\u2019s main power grid. \u201cThese types of transitions aren\u2019t always pretty. But we\u2019re getting a lot of renewable generation online, making a real dent in the state\u2019s carbon emissions,\u201d\xa0
Mainzer recently urged the state to construct another 10,000 megawatts of renewables, an equivalent of one-eighth of the entire state baseload power, in order to cover the gaps in the grid.
Covering gaps in renewables is important for two reasons. The first is that electricity is the only resource that must be consumed as soon as it\u2019s produced. That means projections of demand must always be just about perfect.\xa0
The second reason is that renewables most often have no form of storage, and the electricity they generate goes into the grid immediately upon production.
To help navigate around these natural flaws in renewable energy, California has been a key leader in\xa0coordinating with other states\xa0in the west to share surplus power across state lines, creating a more robust grid, removing more need for fossil fuels, and taking advantage of other states\u2019 resources.
For example, California is much sunnier than Wyoming, but Wyoming has the most consistent wind power of any state. Utility companies in each place can exchange their baseload power with the strengths of the other and reduce fossil fuel input and increase grid stability.
This is the best method for protecting against blackouts and drops in supply due to changing weather until cost-effective and scalable storage technology become widely implemented.
A Clean Economy = Healthier Communities
Scientists at UC Berkeley are hailing the state\u2019s diesel engine standards for drastically dropping the amount of diesel particulate matter in the air, and reducing the cardiopulmonary deaths attributable to poor air quality.
If you never saw the pictures of the city of Los Angeles before the Clean Air Act, they look like something out of the movie\xa0Escape from L.A.\xa0But encouraging shifts away from high-sulfur fuels, and replacing diesel ships with electric ones, has gradually scaled the horror show back.
\u201cOur analysis of mobile source DPM (diesel particulate matter) emissions suggests that many California sector-based policies have been highly effective,\u201d write the authors of the paper published in Science.
They found that from 1990 to 2014, the amount of DPM in the California skies fell by 78%, while cardiopulmonary and cancer deaths linked to diesel pollution dropped by 82%.
These are just some of the many positive actions that have been happening around the country and globe.
Obviously, there still much to be concerned about.\xa0
As I record this podcast, I have one son in Boulder Colorado whose former home community was destroyed by the recent wildfires.\xa0 Only 1 mile away from his current home, 100 mph winds created a blast furnace of destruction for thousands of homes.
Thankfully, the massive snowfall has now contained that catastrophe. But my other son and his family were pummeled by 11 feet of snow on the way to their holiday vacation in Lake Tahoe.
Don\u2019t Look Up\xa0
If you haven\u2019t seen the new comedy film \u201cDon\u2019t Look Up\u201d \u2013 it\u2019s worth watching.\xa0 While the insanity of ignoring science is pretty funny \u2013 the reality is that we can\u2019t allow ourselves to continue to be distracted by day-to-day petty politics and our ridiculous obsession with social media.
We all need to join together, find a way to overcome our differences, and remember that our children\u2019s future is the one overriding priority that we all share.\xa0
Creating a sustainable planet is a huge task. But as the recently deceased Desmond Tutu once wisely said: \u201cthere is only one way to eat an elephant: one bite at a time.\u201d\xa0
Figure out how to take your bite \u2013 and let\u2019s all keep moving forward, one small bite at a time\u2026
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