Windmills in Calama, within the Atacama Desert, in northern Chile. The tasks in Chile to make the most of its excessive potential in unconventional renewable energies have managed to scale back the nation’s dependence on imported fossil fuels and to succeed in a fall within the common price of power. Image: Marianela Jarroud / IPSby Emilio Godoy (mexico metropolis)Friday, October 02, 2020Inter Press ServiceMEXICO CITY, Oct 02 (IPS) – The manner ahead for power transition and its hyperlink to an financial restoration after the despair brought on by the covid-19 pandemic is focusing consideration in Latin America and Europe, in line with the 2nd Madrid Energy Conference (MEC), which concluded this Friday 2.The intercontinental discussion board was held since Monday, September 28, on this case nearly because of the pandemic, organized by the non-governmental Institute of the Americas (IA), which is headquartered within the coastal city of La Jolla, in western United States.Jorge Rivera, Panama’s Secretary of Energy and one of many sector’s leaders in Latin America who participated within the Conference, pressured that the transition isn’t an automated course of, however will depend on a political determination and on the sector’s companies.”We have a great opportunity. We have an energy transition agenda for the next 10 years, aligned with the Sustainable Development Goals (SDGs), which includes a series of national strategies, decarbonization, digitalization, and energy democratization. We have a lot to do in transportation, industry, in the uses of energy,” he stated.Rivera insisted that “these measures have the potential to become a tool for post-covid economic recovery.The Conference, which lasted five days and whose first edition took place in 2019 in the Spanish capital, brought together virtually ministers from five American nations, more than 20 companies´ presidents and more than 400 delegates from international organizations and experts from both continents.The agenda addressed issues such as the climate crisis in the context of the pandemic, the situation of renewable energy on both sides of the Atlantic Ocean, the financing of post-covid recovery, the energy transition towards lower carbon models, energy storage in batteries and power grids, as well as different aspects of mobility.Topics such as transport, gas, the outlook for oil corporations or the digitalization of the sector were also tackled.An important part of the debates was linked to the climate crisis, such as carbon capture and storage and greenhouse gas emissions generated by human activities responsible for global warming, as well as methane and the prospects of hydrogen, seen as an alternative to fossil fuels, on both continents.For Alfonso Blanco, OLADE – Latin American Energy Organization’s executive secretary, the region has made significant efforts to accelerate the transition, but the impact of Covid-19 has generated an uncertain outlook. One of the debate sessions of the Madrid Energy Conference, dedicated to the energy transition, which held its second virtual edition, between September 28 and October 2, organized by the Institute of the Americas. Image: IA”Sustainability will rely upon regional measures, however the area doesn’t have a outlined regional motion. If we don’t analyze the (monetary) threat and develop a financing mannequin for renewables, we are going to see issues of additional incorporation of renewables. We have to consider particular methods, in line with the position of every sector,” he said.In recent years, Latin America has advanced in the development of wind and solar sources as clean alternatives, but it faces the challenge of reducing the burning of fossil fuels in industry and transportation and improving energy efficiency.This transition has come to a halt in nations such as Mexico, which prioritize support for hydrocarbons, as pointed out by Joost Samsom, partner and co-founder of the consulting firm Voltiq – Renewable Energy Finance, and Claudio Rodríguez, partner of the law firm Thompson & Knight LLP.Stuart Broadley, executive director of the non-governmental Energy Industries Council (EIC) – based in London and which brings together energy companies – explained that phase I of the energy transition, currently underway, consists of the adoption of technologies such as wind and solar, and during which most countries have not invested much for different reasons.The forthcoming futurePhase II, which the world has not yet entered, involves energy variations such as hydrogen and carbon capture and storage (CCS).Broadley said that companies dedicated to promoting renewable sources are not going to invest in hydrocarbons and do not like oil companies jumping into their market, so they are not going to help each other. In view of this, regulations imply or should imply forcing them to work together and, for this, the government’s role is critical.For Fernando Cubillos, head of Energy at IDB Invest, the private investment arm of the Inter-American Development Bank, renewable energies have shown resilience during the pandemic, competitiveness and attractiveness.”The prospects of reviving the financial system could give a probability to introduce extra renewable power, which will help the restoration, and there is a chance to deploy extra renewables. We see good situations for renewables immediately. What is lacking in some nations is the regulatory framework,” he said during the discussions. The installation of photovoltaic panels in poor neighborhoods in Brazil, like these in Morro de Santa Marta, in Rio de Janeiro, which often respond to community and distributed generation projects. They also contribute to reducing the energy bill in these populations and moving towards sustainable generation and consumption. Credit: Mario Osava/IPS.In nations such as Brazil, distributed (decentralized) and small-scale solar generation has become important on a commercial scale and has registered growth, which was possible thanks to the regulatory framework.”We have seen that state-of-the-art know-how is wind and photo voltaic, resulting from low prices, and it is extremely troublesome to develop hydropower era. We have seen potential for battery storage, however it’s not enticing but”, Thiago Barral, executive president of Brazil’s state-owned Energy Research Agency, analyzed during the MEC.Although the energy transition is in its first phase, Latin America is beginning to consider emerging technologies, such as CCS and hydrogen, whether from gas or renewables.In the first case, CCS, the intergovernmental International Energy Agency (IEA), which brings together major industrial countries and is based in Paris, said that by 2020, governments and industry have committed around some $4 billion to such initiatives worldwide.In the world, there are at least 15 projects in operation and seven under construction, but during the MEC experts estimated that at least 500 are needed globally.The use of hydrogen is an unknown variant in the Latin American region. At the beginning of this century, Brazil was a pioneer in exploring this path, but abandoned it to develop sugar cane ethanol, renewable sources and hydro energy.Chris Sladen, founder and director of the UK-based consulting firm Reconnoitre Ltd, said CCS “has been a dream for hydrocarbons. But it is not a easy idea, it includes a number of joint tasks” and the large query is the way to take them to a business scale.That know-how, he proposed, ought to happen near the place carbon is generated, akin to energy crops, petrochemicals or cement factories.Some 50 nations, most of them within the developed North, have instituted insurance policies for the usage of hydrogen. In Latin America, Chile has the potential to supply this useful resource at low costs and that may be a mitigation measure for a cleaner electrical matrix, in line with its Undersecretary of Energy, Francisco López.© Inter Press Service (2020) — All Rights ReservedOriginal supply: Inter Press ServiceThe place subsequent?Related News TopicsBrowse associated information matters:Latest News HeadlinesRead the most recent information tales:Energy Transition and Post-Covid Recovery, a Challenge for Latin America Friday, October 02, 2020Nepal Is a Model for Vulture Conservation Friday, October 02, 2020Sustainability of Zimbabwe’s Natural Food Sources take a Knock Amid Growing Economic Crisis Friday, October 02, 2020A Feminist Perspective from Middle East & North Africa on the COVID-19 Pandemic Friday, October 02, 2020The Key to Peace within the Lake Chad Area Is Water, Not Military Action Friday, October 02, 2020Restoring Ecosystems After Fire and Flooding: Forget Not the Beneficial Soil Microbes Thursday, October 01, 2020Covid-19 Deaths: 1 Million and Surging Thursday, October 01, 2020We Need Nature and Biodiversity if We Want a Sustainable Future Thursday, October 01, 2020The Triple Humanitarian Crisis and Why Kenya Deserves An A + in its Response Thursday, October 01, 2020Water Security in Jordan is Crucial to Maintaining Stability within the Country Thursday, October 01, 2020Related In-depth IssuesStudy extra in regards to the associated points:Share thisBookmark or share this with others utilizing some common social bookmarking websites:Link to this web page out of your web site/blogAdd the next HTML code to your web page:
Energy Transition and Post-Covid Recovery, a Challenge for Latin America, Inter Press Service, Friday, October 02, 2020 (posted by Global Issues)
… to supply this:Energy Transition and Post-Covid Recovery, a Challenge for Latin America, Inter Press Service, Friday, October 02, 2020 (posted by Global Issues) .