Duke Energy’s 2020 Climate Report Shows Need for Clean Energy Demonstrations

This week, Duke Energy released a blueprint for reaching net-zero carbon emissions by 2050, a commitment they made last fall. ClearPath’s Executive Director, Rich Powell said the Duke Energy 2020 Climate Report shows a strong commitment to their nuclear fleet and advanced nuclear, innovations in energy storage and carbon capture.

Read more from ClearPath here

Highlights from the report include:

• “No new gas" analysis that assumed the regulated electric utilities are not allowed to build any additional natural gas generation. Under this scenario, the company would only see a modest 5% decrease in cumulative CO2 emissions between 2020 and 2050, but ultimately see supply chain issues with unprecedented additions of energy storage in a short period of time which would lead to greater costs to customers.
• Zero – Emitting Load Following Resources (ZELFRs), such as nuclear power plants or fossil energy plants with carbon capture, will be 16% of generation by 2040 and 30% by 2050. This model was based on using small modular reactors which is a good market signal for developers. ZELFRs are also assumed to be commercially available for deployment in the mid-2030s.
• To achieve this goal, they will need to start building new systems in 2035, which means they need to be demonstrated over the next 10 years in order to reach sustained double of capacity additions — 6 GW in 2040 and 13 GW in 2050.
• Natural gas remains 6% of their mix 2050. The report highlights getting their emissions down 95% and purchasing offsets for the last 8 million tons of carbon dioxide. Achieving this will involve carbon capture or carbon removal technologies.

In October, Jay Faison and Rich Powell wrote a column on Duke’s bold step for clean energy transition.
 

Fusion 101:
A Game Changing Technology May be Closer Than You Think

What if we could harness the reaction at the core of the sun to generate power? For decades, scientists have been trying to do just that: create a fusion generator that could supply the world with unlimited clean electricity from hydrogen molecules found in seawater. In the past decade, innovative designs and scientific breakthroughs have brought this goal close enough to impact our electricity system on a climate-relevant timeline. ClearPath’s Cameron Tarry published this 101 piece exploring how fusion works, what has happened lately, and why fusion could help reduce emissions.
Read the 101 here
 

ClearPath Joins NGOs Urging EU to Maintain Nuclear Energy

 
In March, The European Union’s Energy Commission published recommendations on the EU Taxonomy on sustainable finance. These included guidance to help investors and companies meet obligations for reporting. Glaringly missing was nuclear energy.

ClearPath and a group of more than 100 scientists and other stakeholders wrote to the European Commission calling for a "timely and just assessment" of nuclear energy in the EU Taxonomy. European nations have been allies as well as key export opportunities for the U.S. nuclear energy industry.

Read more
 

$3.25 Million Geothermal Prize Announced by DOE

 
Assistant Secretary for Energy Efficiency and Renewable Energy, Daniel R Simmons held a Facebook Live event this week to announce $3.25 million for the American-Made Geothermal Manufacturing Prize to help spur innovation and address manufacturing challenges associated with harsh geothermal environments. Watch the announcement.
 

Solar Perovskite Gets Support to Drive Down Costs

 
This week researchers from The National Renewable Energy Laboratory (NREL), start-ups and universities announced a consortium to help drive commercialization of perovskites. Perovskites are seen as a gamechanger for the solar industry, already seeing exponential improvements in efficiency and are incredibly thin - even capable of being printed. This consortium will allow start-ups and universities to work closer with NREL and access their world class laboratory to prove manufacturing capabilities as well as increase reliability while maintaining their individual intellectual property.
Read more
 

New Treasury IG report on 45Q Shows Need to Expedite Guidance

The Treasury Inspector General for Tax Administration responded to a request to look into 45Q compliance. His response highlights that the program and the regulatory framework associated with it is actually working — projects that do not follow IRS guidance will not receive credits — but also shows 45Q becoming an incredibly popular tool for clean energy innovation.
 

RICH’S TAKE
 

“This letter clearly illustrates that the system works as planned - businesses who sequestered CO2 and showed their plan to guarantee long-term storage received the credit, and IRS is ensuring that those who did not have that monitoring will not receive it. AND, this is exactly why the IRS needs to issue its full guidance on 45Q and provide clarity to businesses who want to keep carbon dioxide out of the atmosphere. Industry needs confidence that the credit works and that there is a clear, accessible, financeable path to accounting for carbon kept out of the atmosphere in the long term. There is tremendous bipartisan support for this program -- leaders from both parties have pushed the IRS to publish final rules for how developers can claim the credit, which should remain everyone’s goal.”
 

IN CASE YOU MISSED IT
 

DOE Releases Strategy to Restore American
Nuclear Energy Leadership

 
The U.S. Department of Energy (DOE) released the Nuclear Fuel Working Group Report outlining a Strategy to Restore American Nuclear Energy Leadership. ClearPath endorsed the strategy to create new clean energy market opportunities.
 

RICH’S TAKE
 

“The administration has taken the wise, long view that a strong nuclear fuel supply industry will not exist without thriving, growing demand for that fuel, in the U.S. and abroad. Supporting R&D, demonstrations of moonshot technology, and robust American exports will create new clean energy market opportunities for American innovators -- while maintaining competitiveness against China and Russia.”

Read the Report
Read more from ClearPath
 

The US Shouldn’t Abandon the Nuclear Energy Market

A recent article in Issues in Science & Technology highlighting that, “US competitiveness in the development and deployment of nuclear reactors within the commercial nuclear power sector is in decline, resulting in the erosion of its leadership in global nuclear safety and security.” Read the full story
 

Foreign Affairs:
The Paths to Net Zero; How Technology Can Save the Planet

An article in Foreign Affairs details analysis of how “technological progress can make it much easier to clear [political hurdles] by driving down the costs of action. In the decades to come, innovation could make severe cuts in emissions, also known as “deep decarbonization,” achievable at reasonable costs.” Read the article here
 

New Poll: “Clean Energy Innovation” Very Popular With Voters

 
Wondering what constituents in your state think of clean energy innovation? ClearPath launched a new nationwide poll recently, with data for every state and every Congressional District.

Clean Energy Poll Highlights:

• 89% Believe it is possible for the U.S. to develop cleaner energy sources that can also provide more affordable energy.
• 87% Believe clean energy is an issue that Republicans in Congress SHOULD care about, only 50% believe they do.
• 58% Say that instead of regulation, they believe more innovation and better technology that lets us reduce carbon emissions is the best way to fight climate change.

THE PATH AHEAD

 
May 7: EXIM will host a Teleconference on Transformational Exports: Renewable Energy at 3 pm ET. Register here

May 13: Industry and Congressional leaders from Texas will host an online event from 9 - 11 am, Managing the Critical Importance of Energy in America in a COVID-19 World.  Register here
 

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