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Apple Works to Reduce Its Carbon Footprint

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Apple exists as one of the world’s largest technological influencers. Through its wide array of consumer electronics, the company has successfully grasped onto the lifestyles of individuals across the world. In recent reports, it seems they are grasping onto the idea of clean energy as well.

A New Milestone Reached

This Thursday, Apple announced that 44 of its suppliers have pledged to continue the Apple production on 100 percent clean energy. Impressively, this news comes less than a month after the announcement that its global facilities are now powered with 100 percent clean energy.

Companies such as Foxconn, Wistron, Pegatron, TMSC, Corning, Amazon, and many more are banding together to improve the production quality of Apple. With this, the tech giant will exceed its goal of using 4 gigawatts of renewable energy into its manufacturing chain. Instead, the company continues to push well into 5 gigawatts by 2020.

The Impact of This Initiative

In the same announcement, Apple noted that it reduced its output carbon footprint for the third year in the row. With manufacturing creating 74 percent of the company’s carbon footprint, its Supplier Clean Energy Program strives to improve production tactics. Through this program, Apple is increasing energy efficiency and its utilization of renewable energy sources.

Apple’s Past Involvement

Apple’s groundbreaking initiatives towards clean energy come at no surprise.

Since 2013, Apple has publicly noted its recognition of climate change. As a result, the company has allocated time and resources towards the push to a greener world. With $2.5 billion allocated in green bonds, the operation has recently invested in environmental initiatives. For example, Apple funds solar power in Japan to water conservation in Oregon to smelting recycled aluminum worldwide. It is evident that the company’s work is improving lives across the globe.

Conclusions

Serving at the forefront of technology, Apple is influencing the future condition of our planet through production methods. The company’s mindset will soon become our reality.

Apple’s Vice President of Environment, Lisa Jackson, said: “We’ve made it a priority to hold our suppliers accountable to the same environmental standards we observe and hope that our collaboration will show others what is possible”.

Jackson’s statement sounds nothing but promising. While Apple’s work upholds to their promise towards progressing to a greener future, let’s hope that other companies follow their lead.

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Investors lose confidence in renewable energy as China halts subsidies

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Over two months ago, the Chinese National Energy Administration (NEA) announced it would stop providing subsidies for onshore renewable energy projects. The announcement seems to have shaken investor confidence. In the first half of 2019, renewable energy investment in China dropped by 39%.

Since China accounts for around 24% of global investments in renewables, it led the charge in a global slowdown of investments in renewables. Overall renewable investment dropped around 14% with U.S. investment dropping 6% and European investment dropping 4%.

Will China Bounce Back?

Still, China’s future looks fairly green. Despite a decrease in investment, China is still providing incentives and power-purchase agreements for solar companies.

Furthermore, China’s goal is grid parity (making solar energy reach the price of coal power). China’s not known for its laissez-faire economics, so the country will probably support the solar industry more in the future.

Chinese renewables will also likely perform much better in the second half of 2019. Twenty-one gigawatts of new renewable energy projects were announced in late May, so investments in them should rise significantly.

Global Renewable Energy Investment Outlook

Even if China bounces back, global renewable investment does seem to be on the downturn. While the U.S. and Europe only experienced small decreases in investments, the world needs to significantly increase renewable capacity to stop climate change.

A combination of factors including detrimental tariffs and shifts in conservatism has caused renewable slowdowns in many developed areas. However, several countries have continued to expand renewable energy development. India increased investments in renewables by 10% and the U.K. increased investment by 35%.

The Big Picture for Renewable Energy

In the grand scheme of things, renewable energy is definitely gaining ground. Despite decreases in investments, renewable-generated-electricity has been growing in volume.

Despite decreases in investments, renewable energy has been growing in volume.
Despite decreases in investments, renewable energy has been growing in volume.

In the United States, renewables comprised 23% of the national energy supply in April. This April marked the first month in U.S. history where renewables contributed more electricity than coal. Although renewable energies always perform better in the Spring, this milestone still signals that renewable energies are becoming more and more cost-competitive.

Conclusions

Short term volatility is inevitable but the overall trend is clear: new technology favors renewables, and we can only expect the capacity of renewables to grow in the long run.

The real question is: will renewable energies scale up fast enough to prevent the worst effects of climate change?

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Sunnova Energy Becomes Latest Solar Financier To Plan IPO

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Texas-based Sunnova Energy, one of the solar market’s leaders working on residential solar and energy management, has reportedly made plans to IPO later this year. Though Sunnova declined to comment on the Reuters report that initially broke the news, anonymous sources close to the company appear to be credible.

Financially, Sunnova’s cap table is a lot more crowded than its closest competitors, including Sunrun, the current market leader in residential solar ownership, and Solar City, now part of Tesla.

The company has reportedly raised over $2.5 billion in funding, a mix of debt and equity fundraising. Its competitors, on the other hand, raised at most in the hundreds of millions prior to IPO. Despite publicly announced round-sizes, Sunnova’s valuation is a black box. As such, Sunnova’s IPO price is far from clear.

Either way, Austin Perea, a solar analyst at research firm, Wood Mackenzie, believes that a Sunnova IPO could clarify investor interest in residential solar. Specifically, with respect to Sunnova’s localized distribution model, market interest is largely unclear. An IPO by a unicorn like Sunnova would offer unprecedented clarity into the private company.

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Interview with Jigar Shah: Operating A $200 Million Venture Fund and The Future of Clean Energy

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Jigar Shah

Many are skeptical about the prospect of shifting over the more renewable and clean energy. After all, America gets over 80% of its energy from coal, oil, and gas. But some entrepreneurs and venture capitalists are bullish about the future of cleantech and sustainability, and that includes Jigar Shah, Co-Founder and President of Generate Capital, a $200 million fund that backs cleantech entrepreneurs.

Recently, we had the opportunity to chat with Shah and pick his brain on the future of sustainability and why he’s confident that investing in it will both generate enormous wealth and help lead positive systemic change.

Shah’s Start In Investing And His Idea Of The Future of Clean Energy

How were you influenced to capitalize on sustainability and pursue a career in clean energy, both as an operator and as an investor?

This really came from a book I read as a child. I was captivated and the more I learned to more it reinforced my hypothesis. Once hooked I kept going and got lots of encouragement along the way.

What was your motivation for starting Generate Capital?

We didn’t have a go-to investor when we started SunEdison. Generate Capital is that go-to investor and we want to make sure every entrepreneur that works hard has fair access to project finance for their ideas.

What is your vision for the future of energy and tech, and how do you believe climate change can generate that enormous of wealth?

The numbers come from Bloomberg New Energy Finance and the Intergovernmental Panel on Climate Change reports on what is needed. The work I have done is work bottoms up to see what is possible and how many entrepreneurs we need to make it happen. 

It is a remarkably small number. Just a million folks around the work pushing in their hometowns for $1 million of deployment per year gets us to a $1 trillion annually. This is already happening. What I do is work to empower these folks with access to projects financing.

Shah On Solar Energy

What spurred your commitment to solar energy in particular?

Frankly solar is just amazing. Almost every electricity source comes from a spinning mass with magnets – but not solar power. It is brand new, empowering, small, and distributed. Just amazing. I don’t think solar power can give us 100% or even 30% of our direct energy, but I do think it can be substantial.

You pioneered “no money down solar.” Can you elaborate on this idea?

In general, people are not used to buying an electric plant that serves them.  Buying a solar power plant is not normal or in the budget. No money down means someone else owns it and leases it to you which included maintenance and all other headaches. You get the best prices because of competition and a worry-free experience.

Shah On Climate Policy And Corporations

Some politicians say climate change is one of our most pressing issues today. Would you agree?

Climate changes the way the Earth and its complex systems work.  I don’t know what will happen, but the warnings from scientists have us bracing for the worst.

What do you wish more politicians and big corporations would do in order to combat the issue of climate change?

The main thing is to recognize that we have all the tools we need already to reduce carbon emissions by 50% in 12 years. We simply need the will power and motivation to get it done. The technologies exist and are cost-effective.  We just need the mandates to deploy at scale.

Getting the Word Out About Clean Energy

You currently co-host Energy Gang, a podcast over at Greentech Media. What’s the goal?

Honestly, it is about giving people a little color behind the news. Clean Energy news can be dry and the nuances matter. We are trying to give people a little insight into how things work and how folks can use the information to further their careers.

How would you encourage people to help build a more sustainable nation? What can young people do specifically to help?

Frankly, it is just by doing.  Figure out what you are good at and use your skills to good use. Whether you are a musician, marketing major, business person, or an engineer, we need you. We need everyone to pitch in. Talk to your sphere of influence – family, friends, elected officials, and others. We need more people to know that the technology is cost-effective and ready to be deployed at scale.

Conclusions

The Future of Clean Energy | The Rising

Investors like Shah (who’ve been operators in the past) are going to be essential in the transition over to cleaner and renewable energy. It’s not enough to have investor support though; founders and operators are also essential.

Fortunately, in Shah’s words, anyone can help. With investors like Shah’s Generate Capital on board to support cleantech initiatives, it’s now up to founders and the next generation to act.

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