November News Update - What the RE Royalties Team is Reading
As we approach December and soon enough, the holidays, lets have a look at some interesting reads from the renewable energy industry this November.
New Wind Turbine Blades Could be Recycled Instead of Landfilled
According to the Scientific American, researchers have developed a wind turbine blade that appears to be recyclable and costs less. These two factors could accelerate the rapid growth on onshore and offshore wind across the world. Unfortunately, it may take years of further testing to ensure that recyclable blades can endure the outdoor elements for 30 years which is the goal for wind power. Furthermore, the American Wind Energy Association released a paper suggesting that a simpler alternative to recycling may be general repurposing. There are pros and cons to recycling and repurposing but each method is certainly better for the planet than simply letting the blades go to waste in a landfill. If you are interested in reading the full article, please click here.
The New Energy Giants are Renewable Companies
In this article from Bloomberg, they highlight that a new generation of energy behemoths has been born that are leading the race to electrify the global economy. These four companies, Enel, Iberdrola, NextEra Energy and Orsted, have prioritized clean-power plants and are now on the cusp of a breakthrough. These four companies have surpassed their comparable oil companies a while ago, or just recently and briefly with NextEra Energy briefly exceeding Exxon Mobil Corp in market capitalization in early October. The shift to renewables has been massive and this movement is not going away. To read the article in full, please click here.
Solar Power Booms in Texas
While wind power made Texas the leading renewable-energy producer in the United States, solar is quickly catching up. Solar development in Texas is expected to accelerate in the coming years as generation costs fall and power demand grows. Astonishingly, five years ago the state's grid operator projected that 12,500 megawatts of solar generation would be installed by 2029 but it now expects to pass that as soon as next year. Part of the anticipated growth of solar energy is tied to a federal tax credit that is made available to solar developers that will be reduced in 2022. However, it may be renewed under President-elect Joe Biden who was pledged support for clean energy projects. You can read the full article on the future of renewables in Texas here.
We will see you next month with more news!