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Will Covid-19 Permanently Shrink The Fossil Fuel Industry?

R-Squared Energy

The fossil fuel industry has faced serious headwinds for several years, but the rise of renewables combined with the fall in consumption as a consequence of the global corona crisis is pushing it over the edge and into “terminal decline”. The fossil fuel industry has faced an oversupply problem, as well as a public relations problem.

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Dominion Targets 24GW of Renewables and Storage in Move Toward Virginia’s Clean Energy Goals

GreenTechMedia

Utility Dominion Energy is planning a major shift toward renewable energy and batteries as it looks to comply with Virginia's ambitious new clean energy law. Under the law, Dominion Virginia and the smaller Appalachian Power Co.

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Energy Innovation Policy & Technology® and RMI Launch 48 U.S. State EPS Models

Energy Innovation

Only existing state laws and regulations as of January 2023 are included in the model. A Clean Electricity Standard requires retail electricity utilities to meet electricity sales with qualifying clean electricity sources, typically solar, wind, hydro, geothermal, and nuclear power.

Policy 52
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EU Scientists and Politicians Clash Over Gas and Nuclear as ‘Sustainable’ Investments

DeSmogBlog

This science-based threshold — considered necessary to achieve emissions targets by 2050 — excluded all fossil fuels from being in the taxonomy. Between March and July 2020, nuclear lobbies met with EU representatives twice as often as they did in 2018, according to the non-governmental organization Reclaim Finance.

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Looming Grid Shortfall Prompts 2.5GW California Procurement Proposal

GreenTechMedia

Although the proposed ‘all-source’ procurement would allow existing natural gas-fired peaker plants to compete, it could also open a massive new market for renewable energy, energy storage, demand response and other preferred alternatives to fossil fuels. Fitch wrote in Thursday’s proposed decision.

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Tracking Progress on 100% Clean Energy Targets

GreenTechMedia

But most jurisdictions use the broader term “clean energy,” which can also include resources like large hydroelectric generation and nuclear power. Seven states, as well as Puerto Rico and the District of Columbia, have passed 100 percent clean energy transition laws. Washington D.C.

Energy 100
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National Infrastructure Commission: Government must prioritise energy flexibility in 2020

Business Green

The body also welcomed the passing of the UK's 2050 net zero target into law last year, as well as the government's plans to build 40GW of offshore wind capacity by 2030 and bring forward its proposed fossil fuel car phase out to 2035 at the latest.