Climate Roundup #14
On #EV sales, #renewable electricity and State of the European Tech
Hello chicos! We’ve had a couple of busy weeks, but news around climate tech hasn't stopped. On this weekly roundup: The EMEA region sales more EVs than any other region in the world, renewable electricity capacity is growing faster than ever, State of the European Tech report released
CHART OF THE WEEK - The EMEA region leading the sales of passenger electric vehicles
The takeoff in electric vehicle sales has yet to make much of a dent in composition of the global auto fleet. There are more than one billion cars on the road, and today’s new cars increasingly are reliable and long-lived. They will contribute to global oil consumption for decades. Global oil demand, having plummeted during 2020, has come roaring back and according to some trading houses, is at pre-pandemic levels.
Even so, as EV sales continue to increase, their combined displacement of oil consumption will become apparent. Earlier this year, BloombergNEF research found that EVs of all types, including buses and 2- and 3-wheelers, were displacing more than a million barrels of oil demand per day – and that was analysis done before this year’s surge in EV sales. By the middle of the century, oil demand could be 21 million barrels less per day thanks to EVs, compared to an entirely internal combustion engine global vehicle fleet.
Renewable electricity growth is increasing faster than ever worldwide
“The world's capacity to generate electricity from renewable sources such as wind, solar and hydro is on track to set a new record in 2021, with installations expected to keep accelerating in the following years, according to the new annual market report of the International Energy Agency (IEA). This impressive growth comes even as the cost of producing solar panels and wind turbines has been lifted by rising commodity and transport prices.
By 2026, global renewable electricity capacity is forecast to rise more than 60% from 2020 levels, reaching the equivalent of the current total global power capacity of fossil fuels and nuclear combined, our new report says. Renewables are set to account for almost 95% of the increase in global power capacity through 2026, with solar PV alone providing more than half of the growth. “
Europe’s next act is taking shape - led by impact-focused companies and frontier tech
The highly awaited State of the European Tech report is out! Great insights, surveys and realisations of where the puck is going in venture capital and innovation in the Old Continent
If you want to send us an idea or a tip, a #ClimateTech company that we should have a look at, or if you have any questions, please reach us at: davidcongeof@gmail.com or arraiz.p.daniel@gmail.com.
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