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Energy

Electric vehicles are still performing excellently in the automotive market despite the impediments along their path

The growing demand for electric vehicles by consumers instead of conventional fossil fuel cars has activated automakers to design various cars meeting consumer demands. This year alone will witness OEMs and new companies in the electric vehicle industry, releasing more than 22 new electric vehicle models globally. The automakers stated that some models would be released as standalone entities, while others will be advancements in the existing product line. However, the unleashing of these electric models has activated impediments designed to halt the adoption of the cars. Consumers started recognizing major OEMs and new electric vehicle startups, committing to full electrification at an exponential rate, forcing them to change their mindset and try out this technology.

Although the automakers have thrown their best skills into electric vehicles, the tax credits intended to accelerate these cars’ uptake and the scarcity of electric vehicle charging infrastructure have hindered the adoption of these models by consumers. The past decade had placed a tax credit of $7500 for consumers who purchase electric vehicles to motivate them to buy the cars. In that period, electric vehicle technology had not caught up its spark in America because the industry was at the launch stage. Additionally, the manufacturers who had eyed this sector were few, and the tax credit had a limit of 200000 vehicles in the first production cycle for each company. From 200001, the cars would have a zero-tax credit. This made the bigwigs that had participated in this technology, like Tesla and General Motors, and had already sold 200000 electric vehicles be disqualified from this allowance, raising their electric models’ prices.

Nevertheless, the Biden administration has realized that this regulation has affected the electric vehicle industry and is looking for loopholes and modifications that can help return the tax credits on the cars for companies that have surpassed the threshold. This move will create fairness in the industry allowing the existing and new manufacturers to compete without absolute advantage over each other. However, the adjustment of the tax credit does not solve the problem of scarcity of supporting infrastructure.

Consumers might love the concept of switching from refill stations to recharging stations, but the insufficiency of the charging stations might create time problems. The government and the local leadership must institute mechanisms to ensure the linkage of power grids with charging infrastructure, development of home charging systems, and other mechanisms that will facilitate the short-term deployment of electric vehicles without creating more problems for the consumers.

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Energy

Energinet is pressing through the local markets

Energinet, which deals in transmission systems, is preparing to establish local and reliable markets in some areas of Denmark. The company intends on the utilization of mega wind turbines and solar resources to provide electricity to meet the demands of the people. The company is part of a primary pilot project that happened on the island of Lolland. This project involved Danski Energi, Cerius, HOFOR, and Centrica. All these utilities participated in the success of the project. Energinet confirmed that the island can now generate more electricity to sustain the residents and some for transmission to other areas.

The head of flexibility and systems operation at Energinet, Thomas Dalgas Fechtenburg, stated that they initiated this local market to ensure that the electricity utilities supply affordable electricity. On the other hand, Energinet can decide to halt the operations of electricity utilities when there is no rivalry to promote the affordability of the electricity bids. Last year, Energinet mapped the areas where electricity production is higher than consumption, especially if it is generated from solar and wind resources. This move was to ensure they can locate probable sources of power in cases of emergency and transmit it to where it is needed. Energinet stated that scaling up the local production electricity grid can be more expensive than paying for the local market’s existing excesses.

Fechtenburg explained that the local flexibility markets should serve as operating systems for the electricity grids until they have been widened to sustain the green power every hour. The company noted that it is easier and cheaper to establish a solar park than to expand the grid. This concept is what has motivated the expansion of the Lolland project to the other regions of the country. The pilot project expanded through the local flexibility market with 11 sites opening up and establishing about 50MW of power in the process. This capacity is equivalent to 10% of the total consumption on the island. Energinet confirmed that this value is the potential electricity production of the project is explored on a large scale.

Energinet explained that Lolland has managed to establish a subordinate electricity network without causing downtime. More local activations will kick off in the future, and the capacity of megawatts that can be produced analyzed by the company. Energinet told the Danish energy regulator Forsyningstilsynet that it should consider this new market alignment to assist in the development of the program. The company is hopeful that it can achieve the energy production capacity to meet the entire country’s demands.

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Energy

Irena highlights seven key areas to accelerate renewables uptake in Jordan

Experts claim that renewable energy is the world’s best way to rebuild itself as the planet continues to struggle with climatic fluctuations. We are talking about the emissions from the industries, energy sector, and transport area. Currently, various administrations are working day and night to figure out ways to deal with climate change. Jordan is also struggling with the same, like most of the areas globally.

Recently, a report came out under IRENA, International Renewable Energy Agency, indicating various policy measures with Jordan’s energy transit to renewable energy. This report results from  It suggests that there exist rare opportunities to motivate the private sector engagement in the country’s efforts to move to renewable energy.

Jordan has a target of 31% share of renewable energy regarding the power sector by 2030. In a statement from Engineer Hala Zawati, Minister of Energy and Mineral Resources, you learn that the recommendations are according to the latest Energy Strategy plans 2020 to 2030. He continued to explain that there needs to be a strong partnership between the private and public sectors for the project to happen. Also, the country is ready to partner with International allies to make renewable energy increase its popularity in the country.

The report highlights policy action areas that will help increase energy security and diversify in the accelerated uptake of renewable energy. It also explains ideas to help the ministries boost electrification and increase investments in energy transitions from primary institutions. The country started the renewables journey in 2014, where it read around 0%, and in 2020, reports indicate it has risen to 20%. One of the backups that have influenced renewables includes enabling frameworks and policies to rescue in deploying renewables technologies. They include onshore wind technologies and solar photovoltaic.

General Franceso La Camera, IRENA Director, spoke about renewables’ potential and the benefits that it will result in Jordan. They include creating jobs, improving the security of the national energy, reducing energy costs, and leading to sustainable economic growth. Hence, it will boost Jordan to go past the covid-19 pandemic fails.

The report indicates that setting up projects in local financing institutions will help developers to invest in the transition and for the country to meet their needs in different areas. Analysis indicates that Jordan can deal with the transition challenges by ensuring that the development team invests more in performance. The seven key areas to take action in include:

  • Give conditions to help renewables grow in the power section
  • Foster growth of renewables
  • Plan integration of renewable power
  • Give incentives in the renewable sector to motivate more locals
  • Support renewable option in the transport sector
  • Strengthen local industries and create job opportunities
  • Invest more in renewables
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Energy Technology

Karma automotive Launches GS-6 series of electric vehicles in New Luxury sector

Electric vehicles’ popularity has been rising thanks to the high demand in the industry; hence Karma Automotive has set up a new evolution of luxurious electric cars with the development of the GS-6 Series. This carmaker is California-based and is famous for designing and developing luxurious electric cars. In the recent announcement, the company highlighted details about the GS-6 series. The first model to come to the market is the GS-6. This model will hold a unique and elegant exotic design that is similar to the award-winning Revero GT.

Karma Automotive claims that the car will be available at a pocket-friendly price and is the best option for drivers who hope to achieve the environmental benefits of electric vehicles. Besides, there will be no need to sacrifice design or performance. The CEO of Karma, Ph.D. holder Dr. Lance Zhou spoke about the launch and what people should expect in the new series. He talked about Karma’s primary goal, which is to deliver high-end luxurious cars. Other than that, it involves innovative technologies and also a source of inspiration to drivers with unique and fresh offerings.

He spoke about Karma’s idea of changing the world of mobility to make luxurious electric vehicles more accessible. This product combines a great design, inspiring driving offers, and great technology, and the retail price starts at $83,900. The GS6 will become one of the most competitive vehicles in the new luxury sedan segment. It is currently available in three variants, including standard, luxury, and sport. Also, the company aims to invest in a pure battery electric vehicle. This brand is Karma’s first pure battery-electric vehicle which will be available at $79,000.

All the models in the GS-6 have one thing in common. The vehicles feature unique craftsmanship, and the design of Karma Automotive is popular, but they still include a high-tech customization that makes every brand deliver a personal touch. The GS-6 Series includes convenience and safety features, including ADAS, Advanced Driver Assistance System, Adaptive Cruise Control , hands-off warning, steering wheel response, and the Lane keep support. It includes comfortable features, including power side-view mirrors, airbags, Bluetooth, cameras, control audio, and other things.

This new series will include Karma’s exclusive 8-year warranty and class-leading powertrain. The assembling took place in Karma’s innovation Customization Center in California and includes world-class engineering, customization, design, and manufacturing services. Other than that, it includes electrification platforms. The team includes a 400 kW 2-motor system that combines drivability, efficiency, and outstanding performance. Generally, the GS-6 has a setup that blends 550 lb-ft torque and 536 horsepower.

Other than fantastic technology, this car includes a unique and elegant design. Not to mention, it incorporates all security measures. Invest in one of these fantastic cars for an elegant look and exemplary performance.

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Energy

Shell’s plan to step up 500,000 Charging points of EVs

The popularity of electric vehicles keeps rising rapidly with time. Why not when the world seems to be electrifying every moving instrument. Different companies have taken up various roles in the mission to help achieve net zero-emission. Let’s check out Shell‘s new plan. It seems the company has been swept up in the Electric vehicles sector.

The company’s recent announcement has come to everyone’s attention that Shell plans to make electric vehicle charging stations readily available for all. In this new project, the management team is working on setting up 500,000 stations. It is a short-term project which will last for four years. The EVs infrastructure industry is rapidly gaining its fame, with many investors working with companies to get in the business.

Since the start of 2021, it is clear that three companies are now under special purpose acquisition vehicles. And these companies will go public soon. However, a third of the companies have raised tens of millions from some big private equity sector names. The first successful dealing kicked off in 2020 September. Chargepoint partnered with a special purpose acquisition company with accounts of up to $2.4 billion in an electric charging network. From the deal, the company’s listing was scheduled in 2021, 16th February in New York.

In January, an operator and owner of an electric charging station, EVgo, partnered with the SPAC Climate Change Crisis Real Impact I Acquisition. The deal’s market evaluation runs up to $2.6 billion. These ratings are a huge win for the privately held company and the investment company. The two will combine their company to achieve more profits and offer better deals.

Another deal happened recently where Volta Industries struck an agreement with Tortoise Acquisition II. This partnership will give the charging infrastructure company name Alessandro Volta, a battery inventor. As a result of this collaboration, SPAC Company’s shares were over the moon in these recent days. Currently, the stock is trading at about $15 per share.

Not to be left behind, private equity firms are also forming partnerships. One of the leading names in the Private equity energy investment, Riverstone Holdings, placed its bet on the charging space. It invested in FreeWire. From the deal, the company was able to raise $50 million in funding this year.

In a statement from Arcady Sosinov, FreeWire Chief executive, he confirmed the partnership. He also went ahead to express his excitement for the collaboration. Arcady spoke about the many considerations put in place before arriving at a decision. In addition to that, Sosinov referred to the deal as an enormous opportunity to venture in for the next ten years.

A partner in Riverstone also gave details on the deal. Robert appreciated the Electric vehicles industry and commented on the coming transition in the auto motor industry.

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Energy

Central government concerned that major cities ditching Eskom for renewable energy could divide South Africa

South Africa was one of the most hit African countries by the global Covid-19 pandemic. However, that is not the only challenge ailing the nation. Power outages have become a constant headache to the South African population, especially those living in urban areas. Lack of a reliable supply of electricity has threatened to divide South Africa as federal governments root for their own, abandoning the troubled national electric-utility, Eskom. Eskom has been faced with a couple of problems such as corruption and ill management.

Eskom gets its electricity supply from coal plants. Over the past ten years, these plants have aged, and the government has not serviced them. This has been caused by inadequate funds and the embezzlement of available resources. The aging coal plants have caused a drop in the capacity of power produced, leading to frequent power outages. Eskom’s power capacity is about 44,000 megawatts (MW) currently. This value is decreasing, courtesy of the ill service and wear of the plants. It is estimated that in two months, the coal plants will lose 16,000MW of power-producing capacity.

Since 2008, South Africa has experienced frequent power blackouts.2019 was the apex of this problem, where power cuts contributed to economic losses worth between $3billion and $8billion.If this were to go on, the nation would incur $22 billion losses in the next ten years. These power cuts have taken a toll on the manufacturing sector, making growth in this industry slow. Since the central government under President Ramaphosa has not laid out plans to handle the Eskom problem, provincial and municipal administration has taken it upon themselves to develop new power sources for their subjects.

Cape Town, being South Africa’s tourism epicenter, has been frustrated the most by power cuts. It has led the city’s government to look for renewable energy sources as an alternative to Eskom. The coastal town is finally standing on its own in energy matters. However, the central government has raised concerns about this move.

Cape Town will easily find investing partners for their green energy projects, being a tourism hub. It is even better than the Eskom power. According to the International Renewable Energy Agency, solar and storage battery costs are predicted to go down.

However, the national government does not support this initiative. For instance, in 2020, the central government declined to grant Cape Town the constitutional right to develop its electricity infrastructure. There have been rumors that the western part of Cape Town wants to break away into an independent region. This is one of the reasons why Cape Town lost the constitutional battle with the central administration. Another city that has developed its electricity grid is Durban. Durban recently announced its plan to break away from Eskom in the next 30 years. Durban also directed that 40% of the total energy consumed in the city should come from renewable sources by 2050.

Pretoria, being the capital city of South Africa, houses Eskom. Despite the Covid-19 pandemic that has delayed economic recovery, the city has to put its house in order by transforming Eskom to solve the power shortage crisis.

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Energy

The European Investment Bank (EIB) is banking $46.5 million in the development of renewable energy in Burkina Faso

The European Investment Bank (EIB) will be pouring in $46.5 million to Burkina Faso to facilitate the development of clean energy projects and other projects that shape the country for the minimization of emissions into the atmosphere. This funding will accelerate the adoption of renewable energy sources into the country’s power grids, propelling it towards economic development. Moreover, these clean energy projects will preserve the country’s capital, Ouagadougou, from imminent flooding problems. This program will start the development of a solar power plant that will expand the power supply from 37MW to 50MW. The project will be operating under a public electricity firm called SONABEL.

With electricity demand growing by 10% per annum, Burkina Faso is experiencing a low electricity supply because the resources required to transfer imported power from Ivory Coast are few. This challenge forces the country to depend on the neighbor because its energy utilities are scarce and can’t meet their demand. The Minister of Economic, Finance, and Development in Burkina Faso, H.E. Lassané Kaboré, stated that new investment for upgrading the accessibility of energy and preserving the energy sources from generating environmental problems. Kaboré added that if these projects kick-off, they will align the country towards economic development. The EIB has been essential to Burkina Faso, especially in the financial help and providing international technical expertise for the expansion of projects in the country, for over five decades.

The European Investment Bank (EIB) started helping Burkina Faso in its projects in 1970 and has continued to help the country in achieving its projects and plans without ceasing. The vice president of EIB, Ambroise Fayolle, explained that their bank is ready to help SONABEL in developing the solar power plant to realign renewable energy production in Burkina Faso and preserve the lives of the people in Ouagadougou from flood problems.

Fayolle pointed that the partnership between Burkina Faso and entities like the AFD, the European Union, and the EIB is unraveling the country’s potential that investors can pursue. This pursuit will bring profits to the investors and inform the economic and social development of Africa to prepare it to overcome climate change problems. Moreover, these projects can spill over and take up the citizens’ employment opportunities to improve their lifestyle and open remote and rural areas for electricity and health care services. All these activities are possible if the people are ready for change.

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Energy

High-pressure heat exchanger from BENTELER expected to reduce the charging time for electric vehicle batteries

The mileage range of electric vehicles and the time taken to recharge their batteries are among the things that are annoying the electric vehicle drivers and possibly some of the reasons why some people don’t want to purchase them. The executive vice president of BENTELER Automotive, Dr. Rainer Lübbers, stated these are some of the complaints that the customers have raised which most of the industry players are forcing their way around it by, for instance, developing numerous electric vehicle charging stations and doing more research on the substitute elements for the electric vehicle batteries that they manufacture. Customers think that these factors hinder the flexibility and mobility of electric vehicles, making them restrain even from purchasing the cheap second-hand models.

Electric vehicle manufacturers ought to develop batteries or work around the technology that ensures the cars charge for a short time without increasing the costs that the drivers were hoping would end with ICE cars. Moreover, the idea of fast-charging units has been dejected because this concept not only heats the batteries but also reduces their durability. Nevertheless, BENTELER has emerged with a variant technology that ensures fast cooling of the batteries after they have gone through fast-charging. The technology is high-pressure heat exchangers. The exchangers are small, compact, and powerful to sustain the cooling process.

The BENTELER high-pressure heat exchanger is fitted into the air-conditioning circuit to combine the two concepts and increase the system’s cooling power as it undergoes fast-charging. The developer of this technology, Jens-Eike Jesau, stated that this ideology minimizes the charging time and maintains the integrity of the battery. The cooling medium in these BENTELER high-pressure heat exchangers is carbon dioxide. The coolant, which is labelled R744, is converted to a liquid to ensure it flows in the system as it enters the cooler. The heat generated by the battery in the charging procedure is absorbed by the liquefied carbon dioxide making it evaporated. Luckily, the sealed equipment contains this evaporate carbon dioxide from entering the environment.

Lübbers explained that the cooling capability of the coolant is high compared to the standard heat exchangers. He added that they are happy to provide this technology to the electric vehicle manufacturers for installation to encourage consumers’ uptake. The company’s systems experts have supported this technology, calling it a global breakthrough that will accelerate the minimization of carbon emissions once the electric vehicles enter the market.

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Energy

Electric Vehicle Company seeking financiers to raise its value to $2 billion

A Chinese electric vehicle company has announced its plan of accepting investment and funds to improve its market value past $2 billion. Aichi Automobile revealed this plan hoping that the local and foreign investors can cash into their programs to facilitate the company’s expansion. Reports indicate that China’s mega-company, Didi Chuxing, is among the investors who will be gracing the fundraiser. The company executives refused to reveal more details concerning the fundraising to maintain the investors’ confidentiality who cash into the project. The employees and common citizens think that Aichi, aka Airways, will utilize this capital to widen their operation scale and develop the electric vehicles with the technology they have been developing.

The company came into being four years ago courtesy of Samuel Fu and Gary Gu, who are local entrepreneurs. The company has a production center in Jiangxi province and a battery pack utility in Suzhou of Jiangsu. Another center offering services to the company is its European research, development, and sales center in Germany and finally a production center in Denmark.

Executives explained that they are monitoring the appropriate strategy that they would use to utilize the funds raised from the strategy to expand their utilities or processes. The representatives from both Airways and Didi Chuxing refused to make public comments concerning the purpose or project that the funds obtained would be doing for the electric vehicle company.

Didi managed to beat Uber Technologies in China and has been looking for partnerships with car manufacturers to develop electric vehicles in the ongoing transition to electric vehicles. The company intends to unveil electric vehicles manufactured by BYD Co and supported by Warren Buffett. The Chinese EV company procured help from Didi, opting to put its electric vehicle technology into action. China has become the largest market for electric vehicles, with leading electric vehicle manufacturers like Tesla camping in the country and battling it out with local manufacturers like Nio, Li Auto, and Xpeng.

Last year witnessed the country accepting over 200000 electric vehicles to grace their market. This year will be a record since more electric vehicle companies are launching their models in the country and in the globe. Chinese customers cannot accept to tread in the technology while the world proceeds into the new technology. The people will resort to importing these vehicles to satisfy their hunger for electric vehicles, which will be easy since the policies regulating the electric vehicle industry are lenient.

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Energy

Is the electric car’s time actually here?

Joe Biden’s dad sold used cars, plunging the president of the United States into the combustion engines’ world.  On weekends, the younger Biden washed tires, rented a Chrysler to drive to prom, and hit vehicle auctions to support stock the dealership for his family. To this day, President Biden possesses his dad’s green ’67 Corvette as a wedding gift that he informed Car and Driver magazine had a “rear-axle ratio which gets up and goes.” But if the White House’s resident motorhead has its way, and this remains a major “if,” we will one day reflect on his presidency as the start of the end in the United States for cars and trucks which are powered by gasoline.

To counter climate change, Biden is seeking sweeping changes to the country’s energy infrastructure. But they are targeted at greening the electricity grid or moving coal as well as natural gas away from the country. Over a fifth of the United States greenhouse gas emissions are accounted for by transport; it has been especially thorny to work out how to minimize that, considering the number of cars on the roads. So, Biden is proposing a host of ways for electric vehicles, or EVs, to guide the nation.

The success of EVs, as well as hybrid vehicles, is now surging by almost every metric. Yet, after an explosion of encouraging headlines, relative to the size of the crisis, the change away from the gas-fueled vehicles remains stubbornly negligible, even as global warming levels fuelled by the use of the fossil fuels are smashed year after year. Clean automobiles also contribute to just 2% of the vehicles sold in the United States, 5% in China, as well as 10% in Europe, and these are the largest economies in the world. “This transformation is by no way inevitable,” explains Nic Lutsey, of an independent consulting community collaborating with decision-makers around the world, the International Council on Clean Transportation.

Yet economists, activists, clean-tech experts, and researchers funded by the automobile industry all suggest the right balance of policy, market benefits, and research funding may just be sufficient to stimulate drastic acceleration. And so far, these analysts believe Biden is willing to pull the correct levers. “The dam is busting; the turning point is here,” said Sam Ricketts, a team member who, during his presidential bid, wrote the climate action plan of Washington Governor Jay Inslee.

Since then, many of Inslee’s designs have made their way into the Biden’s initiatives. “The issue is, how soon the automobile industry can go, as well as can it be rapid enough to address the climate problem.” That will rely in no minor portion on what occurs next in Washington, D.C.-and if the pieces will even be set in place by Biden as well as the Democrats, who control the White House and a majority in the Congress.