Podcast
Questions and Answers
What factors contribute to the variability in individual project costs in the utilities industry?
What factors contribute to the variability in individual project costs in the utilities industry?
Which socio-economic implication is NOT mentioned regarding the current situation in energy consumption?
Which socio-economic implication is NOT mentioned regarding the current situation in energy consumption?
Which aspect is least likely to affect consumer behavior in the energy market?
Which aspect is least likely to affect consumer behavior in the energy market?
What is indicated as a significant factor in the variability of project costs across different markets?
What is indicated as a significant factor in the variability of project costs across different markets?
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Which of the following is most likely to influence environmental awareness and concerns among consumers?
Which of the following is most likely to influence environmental awareness and concerns among consumers?
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What is the primary purpose of an energy system?
What is the primary purpose of an energy system?
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Which of the following is NOT a component of an energy system?
Which of the following is NOT a component of an energy system?
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How does achieving net zero emissions primarily depend on the balance of?
How does achieving net zero emissions primarily depend on the balance of?
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What is one significant source of global emissions within the carbon cycle?
What is one significant source of global emissions within the carbon cycle?
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Which of the following describes the main flow of carbon through the Earth's system?
Which of the following describes the main flow of carbon through the Earth's system?
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What role do human activities play in climate change?
What role do human activities play in climate change?
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Which greenhouse gas is emitted at approximately 550 Pg CO₂ per year from land biosphere activities?
Which greenhouse gas is emitted at approximately 550 Pg CO₂ per year from land biosphere activities?
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In the context of climate complexity, what is a primary source of land biosphere removals?
In the context of climate complexity, what is a primary source of land biosphere removals?
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Which of the following correctly identifies the elements necessary for the efficient delivery of energy services?
Which of the following correctly identifies the elements necessary for the efficient delivery of energy services?
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What is the significance of carbon removal technologies in achieving net zero energy systems?
What is the significance of carbon removal technologies in achieving net zero energy systems?
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What is one factor that affects biomass supply costs?
What is one factor that affects biomass supply costs?
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How much does carbon capture add to electricity generation costs per megawatt-hour?
How much does carbon capture add to electricity generation costs per megawatt-hour?
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What is the estimated cost range of carbon capture in terms of USD per ton of CO2?
What is the estimated cost range of carbon capture in terms of USD per ton of CO2?
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What type of climate solution involves the responsible management of land?
What type of climate solution involves the responsible management of land?
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Which ecosystem practice is NOT listed as a land-based solution?
Which ecosystem practice is NOT listed as a land-based solution?
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Which practice is involved in land-based solutions for global mitigation potential?
Which practice is involved in land-based solutions for global mitigation potential?
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Which of the following is a benefit of natural climate solutions?
Which of the following is a benefit of natural climate solutions?
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What is an example of a land-based solution focused on land restoration?
What is an example of a land-based solution focused on land restoration?
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What is the typical time to fully charge a Plugin Hybrid Electric Vehicle (PHEV) using a 20 amp charger?
What is the typical time to fully charge a Plugin Hybrid Electric Vehicle (PHEV) using a 20 amp charger?
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Which of the following is NOT included in the definition of biomass feedstocks?
Which of the following is NOT included in the definition of biomass feedstocks?
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Smart chargers for electric vehicles provide which of the following features?
Smart chargers for electric vehicles provide which of the following features?
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What percentage of the total renewable energy in the EU was represented by bioenergy in 2019?
What percentage of the total renewable energy in the EU was represented by bioenergy in 2019?
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Which of the following types of waste is considered organic waste in biomass feedstocks?
Which of the following types of waste is considered organic waste in biomass feedstocks?
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What natural climate solution is emphasized by the stabilization of carbon in forests and soils?
What natural climate solution is emphasized by the stabilization of carbon in forests and soils?
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Which of the following is a primary source of biomass according to the given content?
Which of the following is a primary source of biomass according to the given content?
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What role does algae play in the context of biomass feedstocks?
What role does algae play in the context of biomass feedstocks?
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Which battery electric vehicle (BEV) charging method typically utilizes smart technology?
Which battery electric vehicle (BEV) charging method typically utilizes smart technology?
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Which of the following statements about carbon dioxide removal approaches is accurate?
Which of the following statements about carbon dioxide removal approaches is accurate?
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What is one of the major catalysts for electrification in the energy system?
What is one of the major catalysts for electrification in the energy system?
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What concept is essential for understanding differentiation of responsibilities in climate negotiations?
What concept is essential for understanding differentiation of responsibilities in climate negotiations?
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Which action is primarily associated with GHG mitigation in the energy sector?
Which action is primarily associated with GHG mitigation in the energy sector?
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What is a critical insight when considering sustainability in development?
What is a critical insight when considering sustainability in development?
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What role does technology transfer play in climate negotiations?
What role does technology transfer play in climate negotiations?
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Which sector is indicated as the top emitter of greenhouse gases that requires transformation?
Which sector is indicated as the top emitter of greenhouse gases that requires transformation?
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Which type of finance is crucial for supporting climate adaptation and mitigation efforts?
Which type of finance is crucial for supporting climate adaptation and mitigation efforts?
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What does the capacity building in climate negotiations aim to enhance?
What does the capacity building in climate negotiations aim to enhance?
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How does the transition to renewables affect job markets?
How does the transition to renewables affect job markets?
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What critical issue includes monitoring, reporting, and verification in climate negotiations?
What critical issue includes monitoring, reporting, and verification in climate negotiations?
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Study Notes
Key Skills for Corporate Transition
- Session 4, presented by Sophie Chlela on 20/11/2024
- Provided by Mines Paris, PSL, and Skema Business School
Part 1
- Energy Systems and Climate Change
- What is an energy system?
- Climate change mitigation.
- Studying the long-term transition.
Key Definitions and Concepts
- Energy system: supplying energy services to end-users
- Components: production, conversion, delivery, and use of energy
- Scope: local to global, physical infrastructure, and societal elements
- Efficiently delivers services, maintaining a balance between supply and demand
- Net zero energy systems
- Electrification
- Reduced fossil fuel use
- Integration of carbon removal technologies
Energy and Electricity
- Global Energy production and consumption in EJ
- Primary supply: 585 EJ
- Final consumption: 448 EJ
- Includes various energy sources (oil, coal, natural gas, hydro, nuclear, wind, solar, geothermal, biomass) and transformations (refineries, power plants)
- Also includes breakdowns for different consumption sectors (industry, residential, commercial, transport)
- Source: IPCC Technical Summary of AR6, WG3
Achieving Net Zero Emissions
- PA article 4.1: balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the second half of this century.
- Basis of equity, sustainable development, and eradicating poverty
- Source: Riahi et al, 2021, Nature Climate Change
Climate Complexity
- Carbon flows between the atmosphere, biosphere, and ocean.
- Land biosphere emissions: ~550 Pg CO2/yr.
- Land biosphere removals: ~560 Pg CO2/yr.
- Largest emissions from fossil fuel combustion.
- Sources: AR6 WGI, IPCC, 2021; NASA ARSET based on NOAA, 2021
Anthropogenic Activities
- Human activities from different sectors causing climate change and air pollution.
- Greenhouse gases present varying Global Warming Potential (GWP)
- Includes global emissions of the six Kyoto Protocol GHGs, including international shipping and aviation.
- Source: IPCC, 2022
International Cooperation
- 30+ years of climate change negotiations
- Global awareness of the importance of taking charge of and integrating climate issues
- Evolution of political and geo-strategic environment
- Transitions to low carbon and sustainable energy
- GHG mitigation strategies like decarbonization
- Technological and regional impacts of climate policies
- Dependent on economic, political, and geostrategic interests
The Major Issues in Negotiations
- Responsibility (Common but differentiated)
- Transparency (Monitoring, Reporting, Verification (MRV))
- Finance
- Skills building/capacity-building
- Loss & damage
- Adaptation
- Technology transfer
What is Needed?
- Energy sector transformation needed due to being a top emitter.
- Mix of technologies, policies, and behavior changes required.
- Explore solutions like renewable energy, energy efficiency, and carbon removal.
- Analyze current policies to understand their effects.
- Consider sustainable development for further insights.
The Main Actions and Solutions
- Technologies like hydropower, solar PV, fuel economy, public transport, soil carbon capture, energy efficiency, solar thermal, and wind farms are available to solve climate change
- Mitigation options and their potential contributions to net emission reductions (2030)
Electrification's Place
- The ongoing transition to renewable energy sources acts as a major catalyst for electrification in the energy system.
- This transition promotes energy independence and creates green jobs to boost the economy.
- CO2 emission reduction per year and per action for the Stated Policies Scenario of the IEA.
- Source: IEA
How Fast Will Clean Energy Transitions Unfold?
- 560 gigawatts (GW) of new renewables added in 2023
- Challenges remain, including heatwaves, efficiency policies, and the rise of artificial intelligence (AI) affecting electricity demand.
- Source: World Energy Outlook, IEA (2024)
Technologies for Electricity Production
- Summary of technologies for electricity production based on location, geography, and characteristics like universality, intermittency, and peaking
- Source: Lazard, LCOE+, 2023
The Economics of Electricity
- Levelized Costs of Electricity (LCOE) is an indicator of cost-effectiveness.
- Formula provided for calculation (sum of (cost in period t + running costs in period t) / total electricity in period t * (present value of 1 in the period t))
Decreasing Costs of Wind and Solar
- Unsubsidized costs of onshore wind and solar PV, and their decrease over time.
- Data provided on percentage decrease/compound annual growth rate (CAGR)
- Source: Lazard, LCOE+, 2023
Best Research-Cell Efficiencies
- Chart showing trends in solar cell efficiency
- Source provided as Public Domain
Utilities Industry and Regulation
- Showing the breakdown of an energy system across the value chain (upstream, midstream, and downstream), with different components, regulations, and complexities in each part
Current Situation and Future Pathways
- Different scenarios of sustainable transitions (SSP1-5)
- Socio-economic implications of these pathways (income, consumer behavior, institutions, environmental factors, and energy consumption)
Example of Energy Mixes
- Energy supply by source in France, United States, China, Brazil, and Costa Rica.
Energy Efficiency
- Improving energy efficiency is critical to sustainable energy management.
- Efficiency expressed as energy output / total energy input.
Measurement of Energy Efficiency
- Smart meter deployment decisions in Europe to improve energy efficiency.
- Global energy intensity improvement by sector (transport, industry, residential buildings) in the Net Zero Scenario
Transition and Innovation
- Summary of different energy storage technologies by discharge time
Electric Vehicles
- Global electric car stock from 2013 to 2023
Critical Minerals Demand
- Minerals' demand per capacity of various energy systems
Carbon Dioxide Removal Approaches
- Methods of removing carbon dioxide from the atmosphere
- Information regarding the capture and storage of carbon dioxide
Biomass Feedstocks
- Types of biomass feedstocks, their relation to total renewable energy in the EU (2019), and stabilization of carbon in forests and soils
Bioenergy Carbon Capture and Storage
- The impact of various factors on the supply of biomass
- Summary of estimated levelized cost of electricity with different power plant types
Defining Natural Climate Solutions (NCS)
- Land-based solutions involving forests, ecosystems, agriculture, and energy sectors to avoid emissions, protect, manage, and restore natural ecosystems to enhance the carbon dioxide sinks, and achieve global mitigation potential
Energy Modeling With TIMES
- Development of TIMES model and its use in representing an energy system
- Provides an economic representation of local, national, multi-regional, or global energy systems to simulate supply-demand equilibrium
Scenario Assessments With Integrated Assessment Models (IAMs)
- Types of models used for assessing scenarios of climate change, especially focusing on global warming across categories C1-C8
- Source provided
Global Energy Use in 2070 Under IMP-NEG Pathway
- Global energy use in 2070 under a pathway with global emissions reductions
The Challenges
- High reliance on fossil fuels.
- Intermittency of renewable energy sources.
- Energy grid effects in California.
- Land use issues.
- Existing infrastructure issues.
- Research and development needs for industry
Emissions and Sustainable Development Pathways
- Shift development pathways towards sustainability (distributional, equity, fairness, technology, innovation) and historical global per capita emissions
- Source provided
Green Jobs and Technological Innovations
- Summary of green job creation in various sectors
- Case studies including Xcel Power in Colorado and solar projects in UAE.
Review
- Sustainable development goals from United Nations.
Energy for Sustainable Development
- Multiple objectives and interdependencies (including energy poverty, energy security, biodiversity and food, climate change, water, and air pollution)
- Summary of solutions addressing these issues, highlighting efficiency and sustainable solutions' benefits
Circular Economy and Air Pollution
- Principles of circular economy (reducing, reusing, refurbishing, repairing and recycling)
- Implications of these principles related to carbon sequestration and emission reductions
Partnerships and Climate Change
- Cooperation and partnerships on mitigation strategies, policies, technology transfer, and global climate partnerships
Part 2 of the Corporate Transition Discussion
- What mechanisms are for implementing net-zero strategies for companies?
- Examples of net-zero strategies
Carbon Compliance Markets
- The carbon compliance market is a mandatory market
- Carbon pricing leverages market mechanisms to incentivize emission reduction through efficient processes and cleaner fuels
- Participants benefit from reducing emissions if the cost is lower than the quota's market price
About Quotas and Credits
- Quota exchange methods (trading platforms, directly or via an intermediary, over-the-counter)
- Distinction between carbon quota and carbon credit definitions
Carbon Markets
- Emissions Trading Scheme (ETS) operations and the EU ETS
- Caps and allowance trading within facilities.
Evolution of the EU ETS
- 2013 ceiling of European allowances (EUAs)
- Allowance reduction and scope extension to maritime transport
- Graph showing the evolution of carbon prices in the EU ETS from 2008 to 2023
Carbon Offsets
- Summary of methods to counterbalance CO2 emissions (avoidance/reduction and removal/sequestration)
Direct and Indirect Emissions
- Overview of Scope 1 (direct), Scope 2 (indirect energy use), and Scope 3 (indirect) emissions in a company's value chain
Voluntary Carbon Markets (VCM)
- Characteristics of VCMs (decentralized governance and carbon credits).
- Notable decrease in 2023 carbon credit supply
- Summary of methods for buying and selling carbon credits
- Involvement of standards and certification bodies
Examples of NCS Projects in the VCM
- Summaries of different natural climate solution projects across various regions
Carbon Taxes
- Putting a price on carbon emissions
- Historical context of international agreements on carbon taxes
Strategies to Achieve Carbon Neutrality
- Illustrative example from TotalEnergies: carbon neutrality by 2050, multi-energy strategy, increasing electricity production capacity, lifecycle carbon emission intensity as an indicator, and offsetting remaining emissions
Key Takeaways
- Net-zero pathways require energy sector decarbonization, including electrification and renewable energy.
- Transition implies sustainable development strategies and focus on economic viability.
- Importance of developing competencies in green areas through training and culture shift
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Description
Test your knowledge on the factors contributing to project cost variability in the utilities industry. This quiz covers socio-economic implications, consumer behavior influences, and environmental awareness related to energy consumption. Explore the complexities of cost factors across different markets.
