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Germany was first described with that moniker in 1998 as the country navigated the costly challenges of a post-reunification economy. The issues weighing on Germany's economy can be separated into "two very separate battles," Stefan Kooths, research director for business cycles and growth at the Kiel Institute for World Economy, told CNBC. "It is a different sickness [compared to] 20 years ago," Brzeski told CNBC. Energy obstaclesLike most of Europe, Germany's energy prices have been volatile following Russia's full-scale invasion of Ukraine. "Many Germany-headquartered businesses are doing well globally, but they are struggling with operations in their own country," Siegfried Russwurm, head of the German Industry Federation, told CNBC in June.
Persons: DANIEL ROLAND, aren't, it's, Holger Schmieding, Schmieding, Jasmin Groeschl, Stefan Kooths, Carsten Brzeski, China's, Brzeski, Groeschl, Joerg Kraemer, Kooths, Siegfried Russwurm Organizations: Frankfurt Cathedral, AFP, Getty, International Monetary Fund, Berenberg, CNBC, Europe, Allianz, Kiel Institute, World, ING Research, German Industry Federation Locations: Frankfurt, Germany, Europe, France, China, Kiel, Ukraine
The message from the world's leading climate scientists in April last year was that a substantial reduction in fossil fuel use will be necessary to curb global heating. The burning of fossil fuels such as coal, oil and gas is the chief driver of the crisis. Indeed, the IPCC said that current fossil fuel use was already more than the planet could handle and additional projects were destined to lock in even greater emissions with devastating consequences. The U.N. climate panel also estimated that fossil fuel investors could be at risk of losing between $1 trillion and $4 trillion if governments act to limit global temperature rise. Despite this, some of the world's richest nations, such as the U.S. and China, have cited energy security as a reason for investing in additional fossil fuel projects.
Persons: Jim Skea, Fabrice Coffrini, Skea, We've, Fethi Belaid, Hoesung Lee, Rishi Sunak's, Danny Lawson, Biden, Mario Tama Organizations: Afp, Getty, CNBC, South, Imperial College London, Greenpeace, United Arab, Social, Trans, Trans Alaska Pipeline System, National Petroleum Reserve Locations: Algeria, Europe, North Africa, East, Asia, staving, China, Ukraine, Paris, Richmond , North Yorkshire, United Arab Emirates, Trans Alaska, Alaska, Delta Junction
Why nuclear fusion is so important for global energy needsWe see the colossal power of nuclear fusion in action every day — the sun. Meaning that unlike fossil fuels, nuclear fusion doesn't contribute to greenhouse gases in the atmosphere that are driving climate change. It was a major breakthrough and the first time a fusion experiment had ever generated an energy surplus. Why nuclear fusion beats nuclear fissionCurrent nuclear power plants use fission to make energy. While fission creates a chain reaction, nuclear fusion reactors of the future would not, avoiding the risk of a meltdown.
Persons: Energy Jennifer Granholm, Lawrence, Jason Laurea, Paul Rhien, J, Robert Oppenheimer, Arjun Makhijani, Daniel Jassby, Jassby Organizations: Service, International Energy Agency, Department of Energy, Energy, Ignition, Lawrence Livermore National Laboratory, Financial Times, Manhattan, International Atomic Energy Agency, Scientists, Institute for Energy, Environmental Research, Princeton Plasma Physics Locations: Wall, Silicon, Lawrence Livermore, That's
Some states are in good shape to handle whatever the climate throws at them, but these are the states most at risk. 2023 Infrastructure score: 228 out of 390 points (Top States grade: B) Climate Extremes Index: 21.16% Properties at risk: 45.2% Renewable energy: 10.6%9. 2023 Infrastructure score: 165 out of 390 points (Top States grade: D) Climate Extremes Index: 8.7% Properties at risk: 2.8% Renewable energy: 12%8. Connecticut is home to the nation's first "green bank," which uses public dollars to leverage private investment in renewable energy. 2023 Infrastructure score: 227 out of 390 points (Top States grade: B) Climate Extremes Index: 21.16% Properties at risk: 61% Renewable energy: 12.5%1.
Persons: Jeremy Porter, York Snow, Joed Viera, Kelly Giddens, Daniel Hinton, Jessica Mcgowan, wades, Tim Boyle, Tony Evers, Scott Olson, Josh Edelson, Gavin Newsom, , Marcellus, Tom Wolf, Josh Shapiro, Ida, Brendan McDermid, Hurricane Ida, Richard Bunting, Alex Hamilton, Hurricane Irene, Mark Wilson, Joe Biden's, Ted Shaffrey, Hurricane Nicole, Paul Hennessy, Marco Bello Organizations: Street Foundation, CNBC, Business, First, Oceanic, Atmospheric Administration, NOAA, U.S, Department of Energy, Afp, Getty, National Weather Service, Micron Technology, Alabama, University of Alabama, Illinois —, Badger State, Gov, Carolina, Carolinas, AFP, EQT Corp, Bloomberg, Reuters, Garden, State, Anadolu Agency, Sunshine State, Farmers Insurance, AAA Locations: States, York, Buffalo , New York, Empire, New York, Syracuse, Alabama TUSCALOOSA, AL, Cedar, Tuscaloosa , Alabama, Texas, Oklahoma, Alabama, Gulf, Wisconsin, Prairie du Chien , WI, Hurricane, Charleston , South Carolina, Florida, Georgetown , South Carolina, South Carolina, California, Oroville, Oroville , California, , California, Pennsylvania, Washington Township , Pennsylvania, U.S, Jersey, Oakwood, Elizabeth , New Jersey, Garden State , New Jersey, New Jersey, Delaware, Lewes , Delaware, Rhode, Connecticut, New Haven , Connecticut, Wilbur, , Florida, Louisiana, Kenner , Louisiana
While the answer isn't simple, Ford is introducing solutions to turn this grid anxiety into grid confidence. The power of V2GWe are working on turning every Ford EV into a virtual power plant that can be part of a collective power-grid solution. This solution could help mitigate energy shortfalls during peak usage hours when the power grid would be strained. Ford's collaborations with Duke Energy and Pacific Gas and Electric are great examples of how V2G technology can revolutionize the way we consume and distribute energy. We're doing our part at Ford to make these solutions realities — for both the power grid and our customers.
Persons: We've, we've, We're, Cynthia Williams Organizations: Service, Ford Motor Co, Associated Press, Ford EV, Virtual Power Plant Partnership, Ford, Duke Energy, Pacific Gas, EV
Companies Tesla Inc FollowBENGALURU, July 13 (Reuters) - Tesla (TSLA.O) has begun discussions with the Indian government for an investment proposal to set up a car factory in the country, with an annual capacity of as many as 500,000 electric vehicles, the Times of India reported on Thursday. The prices for the vehicles will start from 2 million rupees ($24,400.66), the report added. The discussions with the Indian government show a shift in strategy for the U.S. electric car maker. Last year, talks stalled after the Indian government refused to agree to a request from Tesla seeking lower import taxes on cars, which can be as much as 100%. India has strong potential for a sustainable energy future including solar power, stationary battery packs and electric vehicles, Musk said after meeting Modi, adding he hopes to bring SpaceX's Starlink satellite internet service to the country as well.
Persons: Elon Musk, Tesla, Musk, Narendra Modi, Modi, Rama Venkat, Sonia Cheema Organizations: Tesla, Reuters, U.S, Indian, Thomson Locations: India, Bengaluru
Chicago's Bronzeville neighborhood has a microgrid, which can operate independently if necessary. A microgrid, a smaller version of the city's electrical power grid, went live last year in the iconic South Side neighborhood of Bronzeville. It's this kind of energy reform, said William Davis, the executive director of the Bronzeville Community Development Partnership, that should "start in the hardest-hit areas." Solar panels on several neighborhood buildings are also contributing power to the microgrid, integrating the zero-carbon energy into Chicago's grid system. Together, the microgrid and energy initiatives represent progress in a community that might have otherwise been overlooked, Davis said.
Persons: Bronzeville, Jesse Owens, Louis Armstrong, Joe Biden, William Davis, Zheng, it's, Yami Newell, It's, Davis Organizations: Service, Congress, Heritage Area, Development Partnership, Illinois Institute of Technology, Black Metropolis Deemed, Department of Energy Locations: Chicago's Bronzeville, Bronzeville, New York, New Jersey, Texas
CNN —A major Chinese power generator says its electricity production has reached a record high as the country grapples with a punishing heat wave. China Energy Investment Corporation, one of the world’s largest generators of coal-fired power, says the volume of electricity it produced on Monday had hit a daily record. It exceeded the previous record by 40 million kWh, it added, without specifying when that milestone was achieved. “Due to the continuous high temperatures, the electricity load in many parts of the country continues to rise,” China Energy said. China Energy did not say whether a surge in demand for air conditioning was behind the record power generation.
Organizations: CNN, China Energy Investment Corporation, China Energy, Global Energy Monitor Locations: China, Beijing
WASHINGTON, July 10 (Reuters) - The World Bank on Monday named 15 chief executive officers including financiers and asset managers to a group launched by the lender's president, Ajay Banga, aiming to marshal more private capital to combat climate change and boost investment in developing countries. Banga announced the initiative at a global finance summit in Paris last month alongside Mark Carney, the U.N. special envoy on climate action, and Shriti Vadera, chair of Prudential Plc (PRU.L). The World Bank and the CEOs will work "to develop, test, implement and ultimately scale financing structures that can most effectively mobilize private capital," Carney said in a statement. He said in a statement that the Private Investment Lab CEOs were a "crucial piece of the puzzle" to devise ways to pull more private sector investment into the intertwined challenges of poverty, climate and fragility. Reporting by David Lawder; Editing by Will Dunham and David GregorioOur Standards: The Thomson Reuters Trust Principles.
Persons: Ajay Banga, Joe Biden, King Charles . Banga, Mark Carney, Shriti Vadera, Carney, Thomas Buberl, Larry Fink, BlackRock, Noel Quinn, Hendrik du Toit, Jessica Tan, Sim Tshabalala, Bill Winters, Dilhan, Mark Gallogly, Banga, David Lawder, Will Dunham, David Gregorio Our Organizations: Bank, Investment, U.S, Prudential Plc, World Bank, AXA, HSBC, Shemara, Mitsubishi UFJ Financial, Ping An, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy, Tata Sons, Temasek, Cairns, Mastercard, Private Investment, Thomson Locations: Britain, Paris, Macquarie, Banga
A source previously told Reuters that Musk would brief Modi on plans to set up a manufacturing base in India. "He (Modi) really cares about India because he's pushing us to make significant investments in India, which is something we intend to do," Musk told ANI. Executives of Tesla visited India and held talks with Indian bureaucrats and ministers last month on establishing a manufacturing base for cars and batteries in India. U.S. companies need to reduce reliance on China as a manufacturing base in the face of tensions between Washington and Beijing. If we don't obey local government laws, we will get shut down...," Musk told reporters on Tuesday.
Persons: Elon Musk, Narendra Modi, Modi, Musk, Tesla, Jack Dorsey, Hyunjoo Jin, Shivangi Acharya, Aftab Ahmed, Aditya Kalra, Aditi Shah, Tanvi Mehta, Conor Humphries, Angus MacSwan, Mark Heinrich, Cynthia Osterman, Kim Coghill Organizations: Reuters, Tesla, Twitter, Thomson Locations: United States, India, U.S, China, Washington, Beijing
Goldman Sachs expects an oversupply in the global market of battery parts for electric vehicles to have major implications for four major companies. Potential losers The bank's analysts expect POSCO Future M and EcoPro BM, two major Korean cathode producers, to be negatively impacted by this surplus. We thus initiate at Sell on Posco Future M and Ecopro BM," said Goldman Sachs analysts led by Nihil Bhandari in a note on June 12. And winners While Korean cathode manufacturers are expected to face potential margin compression, Korean battery cell makers LG Chem and Samsung SDI are deemed to be in a more favorable position. According to Goldman Sachs, the entry barrier for assembling battery cells is higher than for producing cathodes, making it a less crowded market.
Persons: Goldman Sachs, Nihil Bhandari, Goldman Organizations: Trust Asia, Japan ETF, South Korean, LG Chem, Samsung SDI, Investors, SmartETFs Sustainable Energy, Franklin FTSE Locations: Japan, POSCO, Korean, Franklin FTSE South Korea, South Korea
Biden rolls out the red carpet for Modi and business is watchingThe White House is rolling out the red carpet for Narendra Modi, India’s prime minister, with a state dinner on Thursday. High on the agenda: Talks to strengthen economic and security ties as the Biden administration cultivates partners to counter China. met Mr. Modi in New York on Tuesday and said India had more promise than any other big country. Enticed by the country’s sustainable energy potential, Mr. Musk said he hoped his electric carmaker could start doing business there “as soon as humanly possible.”India is booming. Mr. Modi has cannily managed to stay in the good graces of the West and Russia since the Kremlin declared war on Ukraine.
Persons: Biden, Narendra Modi, India’s, Elon Musk, Modi, Musk, cannily Organizations: Modi, SpaceX, Kremlin, Investors Locations: China, New York, India, West, Russia, Ukraine
[1/5] An aerial view shows solar panels, installed by Nofar Energy, on the rooftops of cowsheds and chicken coops in Kibbutz Or HaNer, Israel June 19, 2023. Cover it in solar panels. You can't just cover the entire Negev desert in solar panels," Eifer said. Roughly 60% will eventually be dual-use, he said, referring to solar panels that serve as roofing as well as to generate power. He said that developed countries often offer broader economic support, like loans and green bonds to promote renewable energy.
Persons: Amir Cohen JERUSALEM, Ron Eifer, Eifer, Benjamin Netanyahu's, Amit Bracha, Adam Teva V'din, Barbara Lewis Organizations: Nofar Energy, REUTERS, Energy, Thomson Locations: Kibbutz, Israel
June 15 (Reuters) - Australia's AGL Energy (AGL.AX) said on Thursday it has partnered with energy giant BP (BP.L) for a three-year agreement to offer discounted charging to drivers of electric vehicles in New South Wales, as more companies look to pivot to green energy. Under the deal, the company and BP Pulse, the electric vehicle charging business of the London-based firm, will offer customers in New South Wales special charging rates and ultra-fast chargers when they sign up for AGL's existing Electric Vehicle (EV) at-home programme. BP said the agreement is in line with its strategy to roll out its network of 600 BP Pulse EV charging points across Australia by 2025. "As we transition to a low-carbon future, this agreement will empower our customers with innovative, sustainable and cost-effective EV charging solutions," AGL Chief Customer Officer Jo Egan said. The demand for electric vehicles has been on the rise recently, with multiple companies looking to expand their portfolios towards sustainable energy.
Persons: Jo Egan, Archishma Iyer, Pooja Desai Organizations: Energy, BP, Thomson Locations: New South Wales, London, Australia, Bengaluru
Outsized pollution and noise from devices like gas-powered leaf blowers are driving the efforts. The gas-to-electric transition at the neoclassical landmark, which has stood for more than two centuries in Georgetown, came ahead of a ban on the use of gas-powered leaf blowers that went into effect in the nation's capital last year. California next year will ban the sale of new gas-powered leaf blowers and lawn mowers, among other equipment, though the state will still allow existing devices to be used. That's in part because about 30% of the oil-and-gas mix that powers so-called two-stroke engines, which often run tools like leaf blowers and string trimmers, isn't burned. Whalley was already a proponent of ditching the gas-powered tools because she'd done so at her own home.
Persons: , It's, Martha Washington, Allyson Whalley, isn't, Kalen Roach, Roach, Whalley Organizations: Service, California Air Resources Board, DC Sustainable Energy, Companies Locations: Washington , DC, Tudor, Georgetown, . California, Washington
Solar panels accounted for nearly 5% of U.S. energy production last year, up almost 11-fold from 10 years ago and enough to power about 25 million households. Backers of perovskite-based solar cells say they can outperform silicon in at least two ways and accelerate efforts in the race to fight climate change. Perovskite cells are very thin — less than 1 micrometer — and can be painted or sprayed on surfaces, making them relatively cheap to produce. Backing next-generation climate technologyCompanies around the world are starting to commercialize perovskite panels. CubicPV, based in Massachusetts and Texas, has been developing tandem modules since 2019, and its backers include Bill Gates' Breakthrough Energy Ventures.
There's no denying this sentiment, but I've discovered three proven practices that continuously help bypass much of that mental exhaustion. Identifying and checking for mental burnoutAccording to the nonprofit HelpGuide.org, mental burnout is a state of physical, emotional and mental exhaustion caused by prolonged stress. Mental burnout can be difficult to identify, but recognizing the signs early on is key in developing strategies for battling it. This leads to mental burnout. Mental burnout can be a difficult obstacle to overcome, but with the optimal tactics, such as the simple ones above, you can learn how to battle it.
The Tesla chief said he'd spent a "massive amount" of his life developing sustainable energy. "I spent a massive amount of my life energy building sustainable energy, you know, electric vehicles, and batteries, and solar. Musk wants to accelerate the transition to sustainable energy with electric vehicles as well as renewable energy generation and storage. He's also put free speech at the forefront of why he bought the social media platform. Musk told Maher: "Free speech used to be a left or liberal value, and yet we see from the quote 'left' a desire to actually censor, and that seems crazy."
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGogoro says it wants to create a 'big scale' energy storage solutionHorace Luke, CEO of Gogoro, discusses its partnership with Enel X and plans to create a "gigantic reservoir" for sustainable energy.
Tesla recently slashed the prices of its cars in Singapore — but not by much. According to the press release, Model 3 and Model Y cars are now between 4.35% to 5% cheaper. This means that it's likely that a Tesla car's COE is more expensive than what it actually retails for. But Tesla cars still enjoy some discounts from the Singapore government, as local authorities are trying to incentivize the ownership of electric cars. The cost of Tesla cars can be rebated up to SG$45,000 in the EV Early Adoption Incentive and Vehicular Emission Schemes, Tesla said in the press release.
A surge of clean electricity is set to cover new power demand globally this year, bringing within reach the Paris-aligned sustainable energy goals set by the International Energy Agency. Historically, rising electricity demand has been met by burning more fossil fuels, such as coal and gas, but from 2023 additional renewable energy capacity should be available to supply almost all new power demand, said London-based environmental nonprofit Ember on Wednesday. Last year’s record high of 12.4 billion metric tons of greenhouse gases from the global power sector is likely to be the peak. The share of global electricity generated by low-carbon emission sources—including wind, solar, biomass and nuclear—reached a record high of 39%. The nonprofit’s data covers 78 countries representing 93% of global electricity demand.
The analysis published Wednesday by independent climate think tank Ember found that 12% of the world's power came from solar and wind in 2022, up from 10% of global electricity generation in 2021. Wiatros-Motyka added, "A new era of falling fossil emissions means the coal power phasedown will happen, and the end of gas power growth is now within sight." It shows that more than 60 countries now generate over 10% of their electricity from wind and solar. Renewables and nuclear sources were collectively found to have accounted for 39% of global electricity generation in 2022 — in a new record high. Coal, the world's dirtiest fossil fuel, was found to be the single largest source of electricity worldwide last year, producing 36% of global power in 2022.
According to the industry analysis firm's report, Tesla's average installations per week were 21 in 2022, far lower than the company's 1,000-per-week target for 2021. loadingWood Mackenzie said its analysis on Tesla's Solar Roof relies on data from several states, but it captures the largest markets such as California - the state where most of the roofs have been installed - and "paints an accurate national picture". "GAF Energy's Timberline Solar roofing system is better-positioned to achieve widespread adoption," said Max Issokson, analyst at Wood Mackenzie. The potential of Tesla's Solar Roof will rely on the company's ability to simplify and streamline installations and tap into a broader customer base, Issokson added. Solar Roof and GAF Energy's Timberline Solar, which was launched last year, are roofing shingles that can produce solar power.
As a result, many Nigerians rely on petrol and diesel to fuel the generators that power their homes and businesses. Fuel shortages were a key issue in Nigeria’s recent presidential election and have made it increasingly difficult to run generators. His company Reeddi rents out small, lightweight solar-powered batteries called “Reeddi Capsules” that can power devices including TVs, laptops and refrigerators. One Reeddi Capsule can power a TV for around five hours, or a 15-watt fan for 15 hours. Olubanjo says organizations in countries including Uganda, Ghana and South Africa have expressed an interest in the Reeddi Capsule.
Persons: Olugbenga, Reeddi, Prince William’s Earthshot, Prince, Wales, ” Reeddi, Prince William's Earthshot, , Olubanjo, , Joel Jewell, We’re, Anita Otubu, Organizations: CNN, International Energy Agency, University of Ibadan, University of Toronto, , Reeddi, Mobile Power, Sustainable Energy, , UN Locations: Nigeria, Canada, Ogun State, Lagos, Uganda, Ghana, South Africa, Africa, Zambia
A clip purporting to show Twitter CEO Elon Musk talking about social media personality Andrew Tate’s reinstatement on Twitter has been altered from 2022 footage of Musk discussing a different topic. The clip circulating online seemingly shows Musk saying: “People ask me why I unblocked Andrew Tate from Twitter. Reuters also did not find any credible media reporting that Musk discussed Andrew Tate at the 2022 TED Talk (archive.is/wip/8I6Iw). A close comparison between frames of the altered clip online and this segment of the TED Talk can be seen (04s on altered clip compared to 13.08s on TED Talk ibb.co/3MrH71t) and (14s on altered clip compared to 13.15s: ibb.co/B3n7VKZ). The original video shows Musk discussing his intention to open-source the Twitter algorithm, not reinstating Andrew Tate’s Twitter account.
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