The current crisis facing the oil industry happened seemingly overnight, the result of a two-pronged situation: the economic slowdown caused by the global COVID-19 pandemic and the predatory attempt by Saudi Arabia and Russia to eliminate competition from the American energy industry.

The fallout, however, may be felt for years, and in disparate ways. The move to zero-carbon energy and even the electrification of the vehicle fleet are likely to be slowed. The oil majors’ hold on the Permian Basin will grow stronger.

What Does The Oil Price Crisis Mean for The Energy Transition? | Devamı>>>

Wind and solar power have gotten so cheap that other forms of renewable energy have been relegated to science labs and the dustbins of history.

As wind turbines and solar farms sprout around the world, investments in other technologies that produce power — from waves, geothermal steam pockets, rivers, biomass and more — have dropped off a cliff. Even those gleaming mirrors in the desert that focus sunshine onto thermal generators can’t compete on price with photovoltaic panels, and they probably never will.

Wind and Solar Got So Cheap Other Green Ideas Were Left Behind | Devamı>>>

Electric vehicles are forecast to drive world’s demand for energy storage

Global battery prices have fallen 85 percent since 2010, BloombergNEF reports in its annual Lithium-Ion Battery Price Survey, and storage is forecast to grow to 14 times its current level by 2030 as millions of electric vehicles hit the roads.

BNEF predicts demand will total 1,851 gigawatt-hours in 2030, up from the current 132. EV batteries are expected to account for 84 percent of that.

Global Demand for Batteries Multiplies | Devamı>>>