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Even Shell Wants Out of Fossil Fuels

Everlution Newsletter

For Tuesday 21 July 2020 provided by (#letsfindsolutions)

News for green investors and organisations, stock watch & grant opportunities

Even Shell Wants Out of Fossil Fuels

Oil major Shell says that it wants the UK government to make a bold move to ban petrol and diesel vehicles by 2030, accelerating an existing plan by five years even though it seems to undermine one of Big Oil?s key business planks.

The UK government already has a policy in place to ban the sales of new petrol and diesel cars by 2035, and has been?mulling over whether to move that target forward to 2032.

Royal Dutch Shell, which has seen significant falls in revenue over the past decade ?and fresh from a $US22 billion write-down in the second quarter of 2020 due to global Coronavirus lockdowns, is urging the ban to be brought in even earlier. ?Shell applauds this but believes it could be brought forward to 2030 to make sure the UK meets the 2050?netzero?target,? the company said in a?post via Twitter?as part of a short thread.

Shell notes that along with purchase incentives to drive electric vehicle uptake, adequate access to charging infrastructure is required. Shell says EV owners will charge at home,?much like a mobile phone, and will need an increasing number of faster, high-powered options at forecourts and other public locations. To back this up, Shell?in February?replaced its first service station forecourt with an electric car charging hub, and?sees itself becoming a mainstay of the electric vehicle revolution.

Its electric vehicle charging arm Shell Recharge has also expanded into the US, where in late 2019 it installed?DC fast charging units made by Australia?s Tritium at Boston airport. In 2017, its energy arm Shell Energy acquired EV charging solution provider NewMotion, which supplies a range of smart AC wall and destination chargers and which recently signed a deal with discount grocery store Aldi to provide 140 charge points across the UK.

Shell notes that the third piece of the puzzle is the use of smart vehicle charging technologies to help grids manage the extra energy demand that will be created by increasing numbers of electric cars, keeping costs down by reducing the need for grid operators to bolster networks. This would include, for example, smart technologies can shift the recharge of EVs to happen overnight when the electricity system has surplus capacity. Throughout the day, they can also help to balance the output from renewable electricity production, from wind or solar.

Chief market analyst Chris Beauchamp, from UK-based trading firm IG, says that oil companies are at risk of going the way of Kodak and Blu-Ray if they do not keep up with the new era of electrification.

?In a world of falling oil demand and a bigger push towards renewables these energy titans increasingly look like creatures from another era, something which should give investors pause for thought,? Beauchamp was quoted as saying by?Marketwatch?in regard to Shell?s latest loss predictions.

In the meantime, Shell already has a 20 percent stake in a consortium building around 730 megawatts of offshore wind off the coast of the Netherlands. The Netherlands has an offshore wind target of 11.5 gigawatts by 2030. If the NortH2 plan comes to fruition, more than a third of that capacity would have to be contracted exclusively for green hydrogen production.

Further, Shell is exploring the construction of the world?s largest green hydrogen project which could lead to 3 to 10 gigawatts of Dutch offshore wind being built in the North Sea purely for the manufacture of green hydrogen.

Grants/Subsidies/Funding ? Business Research and Innovation Initiative Pilot

Business Research and Innovation Initiative Pilot Priority Sectors Round ? Feasibility Study is open. Go to:

There are five challenges to solve:

  1. Revolutionising agricultural spray applications

  2. Turning farm crops into a renewable hydrogen source

  3. Turning office trash into energy treasure

  4. Counting fish using advanced technologies

  5. Automating the detection of whales at sea

First a challenge proposal is submitted with funding up to $100,000 for a feasibility study. The second part, if the challenge is approved and completed successfully is the commercialisation (up to $1 million).

CTI launches August specials month

As climate change events increase in number and ferocity, so does climate change risk for businesses and organisations.

To remove or control this risk, organisations need to be equipped with the right practical knowledge.

Carbon Training International (CTI) offers courses that give clear direction to understand how to deal with climate change risk.

CTI courses include Strategic Carbon Management, Carbon Accounting, Applied Energy Efficiency, Reducing Fleet Emissions and Carbon Offsetting.

?For all courses commencing in August, CTI is offering a 15% discount. You can easily enrol in one of CTI?s online webinar courses at Just choose your preferred course and course start date. Extra course dates can be arranged.

The good news: carbon emissions and business costs are linked. The more an organisation reduces its carbon emissions the more it reduces its costs.

Eco-tip for the day ? Carbon footprint of plastic bags

The carbon footprint of plastic (LDPE or PET, poyethylene) is?about 6 kg CO2 per kg of plastic. If you know the weight of your plastic bags, you can multiply it with the number of plastic bags you are using per year. Then you can easily calculate the carbon dioxide emitted by your own usage of plastic bags.?An average plastic grocery bag weighs?5.5 grams therefore 1 kg of plastic contains approximately 180 bags.?Thus, one bag generates about 33 grams of CO2.?A household that uses 5 grocery bags per week would use approximately 250 bags per year; this represents 8.25 kilograms of CO2.

Share watch ? 1414 Degrees (ASX: 14D)

Adding battery storage to a 70MW solar plant planned for development near Port Augusta in South Australia would more or less triple the annual revenue of the project, a new report has shown.

The Aurora Project is being planned for construction by South Australia technology company 1414 Degrees after the project was abandoned by US outfit SolarReserve, along with that company?s plans for a 150MW concentrated Solar Tower Project.

1414 Degrees?bought the undeveloped project from SolarReserve?in late 2019 with the aim of installing a mix of solar PV, battery storage and the ASX-listed company?s unique thermal energy storage system, also known as TESS.

The company said this month it was ?pioneering this competitive solution? for the resuscitated Aurora project under the leadership of Marie Pavlik, who was had commissioned modelling from specialist agencies CQ Energy and ITP Renewables and was teaming with energy retailers to bid on power purchase agreements (PPAs).

According to the modelling ? a simulation based on the past five years of NEM and FCAS trading ? the addition of a 70MWh battery energy storage system to the 70MW plant would generate annual revenues ranging from $44-$80 million, compared to $12.5-$28 million without batteries.

The graph shows the company?s performance over the last couple of years.


Financial indicators

The VIX fear gauge down by 3.33 points since last Friday EST to 23.92. This is only 4 points above the safe zone.

The Dow Jones Industrial Average down since last Friday EST by 53.84 points or 0.20% to 26,680.87, the STOXX 600 up 8.21 points or 2.21% to 379.66 and the Shanghai Composite index up 6.76 points or 0.21% to 3,320.89.

Gold up to 1,825.50. US 10-year Treasury Bonds on 0.615 and oil up to 41.75. Cryptos Bitcoin up 234.10 points since last Friday or 2.57% to 9, 333.14.

ASX 200 up 122.70 points or 2.03% since last Friday to 6,156.50. The Aussie dollar on 70.53US cents.

Eco Market Spot Prices

ACCU $15.80

LGC $39.25

STC $38.55

ESC $25.40

VEEC $35.00

Sources:?RenewEconomy, demandmanager,? Reuters, SMH, Market Watch, Forbes

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