ASX Green Energy stocks: CBA says US renewables will take share from coal and gas in 2022
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Latest global market research out of Commonwealth Bank says the share of US renewable power generation (wind, solar and non-hydropower) is anticipated to lift from 13.7% in 2021 to 15.7% in 2022 and 16.9% in 2023.
“The US Energy Information Administration (EIA) expects solar power capacity growth to remain strong over the next two years, while wind capacity growth is anticipated to moderate on the back of the expiration of the production tax credit.
“The fall in gas prices and the uptake of renewable power is expected to weigh on coal power generation in 2022 and 2023 while the share of US coal power is expected to fall from 21.9% in 2021 to 21.4% in 2022, before dipping to 21% in 2023,” it said.
The Biden Administration has pledged to cut greenhouse gas emissions by 50-52% from 2005 to 2030 and is only part of a handful of countries that are on track to keep global temperatures rising by only 1.5°C.
Part of his energy policy is a plan to ensure 80% of the power generated in the US comes from emission free sources by 2030 ahead of intentions to achieve net zero emissions in the power sector by 2035, which would accelerate the uptake of renewable power and the decline in coal and gas power generation.
“The plan is ambitious and would need significant innovation and technology breakthroughs over the next decade,” Commonwealth Bank says.
“While concerns over the pace of change required of the US grid has credibility, long‑term forecasts are prone to underestimating the changes in technology and policies.
“The level of CO2 emissions from US electricity generation in 2020 for example was about half that projected in 2005.
“And that’s because energy efficiencies lowered electricity demand 24% below projections, renewables grew 79% more than anticipated and coal and oil power generation plummeted 70% more than forecast in 2005.”
Global energy storage technology and services provider, Fluence Energy, has met its published guidance for the second year in a row with revenues generating $43.5m – up 117% on Q3, 2021 and 113% on Q4, 2020.
In a market announcement this morning it said strong revenue growth in its Smart Production Solutions (SPS), strong adoption of its self-respiring membrane aerated biofilm reactors, and overall sales growth outside China were the principal drivers behind “another year of positively underlying EBITDA.”
Reflecting on Q4 and FY 2021, as well as providing an outlook for FY 2022, FLC chairman and CEO Richard Irving said: “We take great pride in the team’s ability to increase MABR plant capacity sold to date by 56% last year in such an environment.
“After several years where we saw China generate most of the company’s MABR sales, we are excited to see MABR sales by volume of wastewater treated diversifying to additional geographies,” he said.
“We believe this is testimony to the broad-based, growing adoption of our breakthrough MABR solutions, including the world’s largest MABR plant sold to date.”
Fluence is the result of two industry powerhouses and pioneers in energy storage joining together to form a new company dedicated to innovating modern electric infrastructure.
In January 2018, Siemens and AES launched Fluence, which encompasses more than 14 years’ of experience deploying and operating energy storage.
Neometals has developed a sustainable process flowsheet targeting the recovery of battery materials contained in production scrap and end-of-life lithium-ion batteries (LIBs) that might otherwise be disposed of in landfill or processed in high-emission pyrometallurgical recovery circuits.
Its LIB recycling tech is designed to recover cobalt, nickel, lithium, copper, iron, aluminium, carbon and manganese into saleable products that can be reused in the battery supply chain.
Through its 50:50 incorporated JV with SMS group, Primobius GmbH, a 10tpd commercial demonstration plant in Germany is targeted to commence during the March quarter.
NMT said Primobius has made strong progress with the DP shredding and refining circuits commissioned, DP shredding circuit trials completed, as well as upgrades and commissioning of the shredding circuit equipment to facilitate 10tpd commercial shredding operations during 2022.
LIB feedstocks for the DP trials have been secured from electric vehicle and energy storage system manufacturers, NMT said.
RNE has extended the closing date of the share purchase plan (SPP) from January 28, 2022, to the revised closing date of February 11, 2022.
The company says this will provide shareholders with additional time to participate in the SPP offer, following the general meeting on February 1 – where shareholder approval for the acquisition of Countrywide Renewable Hydrogen (CRH) will be sought.
Funds raised will be used to advance ReNu Energy’s pipeline of green hydrogen projects on completion of the acquisition of CRH as well as progress the company’s other renewable and clean energy investments.