Daily Archives: February 26, 2017

Tesla Model S is one of the cars spearheading the electric car booms (Image: Getty)

Motorists are moving away from diesel cars and opting for alternatively fuelled cars

Tesla Model S – why its diesel–powered rivals should be very afraid: motorists are moving away from diesel cars and opting for alternatively fuelled cars such as electric or hybrid, suggests new research

New car registrations in the UK achieved a 12-year high in January with 174,564 cars being registered – a 2.9 per cent increase on January 2016.

Figures collected by the Society of Motor Manufacturers and traders show that diesel car sales were down by 4.3 per cent in January.

The reason for the dip in interest for car buyers purchasing diesel cars could be due to the recent emissions scandals that have embroiled companies such as Volkswagen.

The government is now planning a diesel scrappage scheme to encourage motorists to ditch cars that are heavy polluters.

In total there were 78,778 diesel cars registered in January.

It is good news for electric car companies however as the alternatively fuelled vehicle segment grew 19.9 per cent to take a record 4.2 per cent market share.

Tesla Model S is one of the cars spearheading the electric car booms (Image: Getty)
Tesla Model S is one of the cars spearheading the electric car booms (Image: Getty)

Electric cars are becoming increasingly popular as car companies are looking to vehicles powered by alternative and sustainable fuel sources.

Figures show that 7,270 AFVs including hybrids, were sold in January.

Read more: Express

A new UK diesel car and van scrappage scheme could be launched in the 2017 Budget

Diesel scrappage scheme: Sadiq Khan warns diesel cars could be BANNED

MAYOR of London Sadiq Khan refuses to rule out a driving ban for the most polluting diesel and petrol cars in central London in a bid to reduce air pollution.

Sadiq Khan has warned that diesel cars could be banned from Central London in a bid to reduce air pollution.

This comes just a week after the Mayor announced a £10 toxicity charge for the oldest and most-polluting cars in the city, which will become effective in October.

Diesel cars that enter the congestion charge zone in central London will pat an additional T-charge of £10 on top of the £11.50 congestion charge.

A new UK diesel car and van scrappage scheme could be launched in the 2017 Budget
A new UK diesel car and van scrappage scheme could be launched in the 2017 Budget

Early predictions by the Mayor’s team believe that four in ten motorists will change their behaviour and stop entering the city centre.

In an interview on ITV’s Peston on Sunday the London Mayor claimed that “nothing is off the table” in relation to banning diesel cars.

“Well, I want to address the issue of poor quality air 365 days a year, not only on those days where the air is dangerous.”

“I’m using all the tools that i’ve got and we’re being innovative but the government has to do more.”

Air pollution contributes to the deaths of 9,000 Londoners annually and the level of harmful toxins in the air have exceeded legal limits regularly in the capital.

Read more: Express

EV Charging Station (Image: Shutterstock)

We’re probably underestimating how quickly electric vehicles will disrupt the oil market

Unpredictably rapid growth happens pretty predictably

Just about every analyst agrees that the electric vehicle market is poised for rapid growth. But how rapid?

It’s not an idle question. The rate of EV growth will have huge implications for oil markets, auto markets, and electric utilities. Yet it is maddeningly difficult to predict the future; forecasts for the EV market are all over the place.

I don’t think the wide range of projections means that we’re blind here, though — I think we can make educated guesses. Specifically, I think history justifies optimism, the belief that the high-end projections (like those in a new study I discuss below) are closer to the truth.

Let’s walk through it.

EVs could do serious damage to oil — or not much

Transportation accounts for a huge portion of US carbon emissions. As recently as 2014, it was behind the electricity sector — 26 percent of US emissions to electricity’s 30 percent. But as Vox has reported, and the US Energy Information Administration (EIA) just confirmed, as of 2016, they have crossed paths. “Electric power sector CO2 emissions,” EIA writes, “are now regularly below transportation sector CO2 emissions for the first time since the late 1970s.”

This is happening because power sector “carbon intensity” — carbon emissions per unit of energy produced — is falling, as coal is replaced with natural gas, renewables, and efficiency.

The only realistic prospect for reducing transportation sector emissions rapidly and substantially is electrification. How much market share EVs take from oil (gasoline is by far the most common use for oil in the US) will matter a great deal.

EV Charging Station (Image: Shutterstock)
EV Charging Station (Image: Shutterstock)

However, as Rice University’s Dan Cohan explains in The Hill, EV forecasts are all over the map.

The EIA’s “Annual Energy Outlook 2017” is much more bullish about EVs than in previous years — its forecast for the EV market is “nearly double its forecast from last year, and nearly 10 times its forecast from 2014.” It no longer thinks hybrids or plug-in hybrids will play a major role. It believes EVs are ready.

Read more: Vox

The Nissan Leaf (L) and Kia Soul on charge on a London street (Image: M. Willis/Getty for GUL)

Electric cars and cheap solar ‘could halt fossil fuel growth by 2020’

Solar power and clean cars are ‘gamechangers’ consistently underestimated by big energy, says Imperial College and Carbon Tracker report

Falling costs of electric vehicles and solar panels could halt worldwide growth in demand for oil and coal by 2020, a new report has suggested.

A scenario that takes into account the latest cost reduction projections for the green technologies, and countries’ pledges to cut emissions, finds that solar power and electric vehicles are “gamechangers” that could leave fossil fuels stranded.

The Nissan Leaf (L) and Kia Soul on charge on a London street (Image: M. Willis/Getty for GUL)
By 2035, electric vehicles could make up 35% of the road transport market, and two-thirds by 2050 (Image: M. Willis/Getty for GUL)

Polluting fuels could lose 10% of market share to solar power and clean cars within a decade, the report by the Grantham Institute at Imperial College London and the Carbon Tracker Initiative found.

A 10% loss of market share was enough to cause the collapse of the coal mining industry in the US, while Europe’s five major utilities lost €100bn (£85bn) between 2008 and 2013 because they did not prepare for an 8% increase in renewables, the report said.

Big energy companies are seriously underestimating the low-carbon transition by sticking to their “business as usual” scenarios which expect continued growth of fossil fuels, and could see their assets “stranded”, the study claims.

Emerging technology, such as printable solar photovoltaics which generate electricity, could bring down costs and boost take-up even more than currently predicted.

Luke Sussams, a senior researcher at Carbon Tracker, said:

“Electric vehicles and solar power are gamechangers that the fossil fuel industry consistently underestimates.

“Further innovation could make our scenarios look conservative in five years’ time, in which case the demand misread by companies will have been amplified even more.”

Read more: The Guardian

Isis has made huge profits from captured oilfields (Image: Getty)

Electric Cars Could Cause Big Oil This Much Damage

The growth of battery-powered cars could be as disruptive to the oil market as the OPEC market-share war that triggered the price crash of 2014, potentially wiping hundreds of billions of dollars off the value from fossil fuel producers in the next decade.

About 2 million barrels a day of oil demand could be displaced by electric vehicles by 2025, equivalent in size to the oversupply that triggered the biggest oil industry downturn in a generation over the past three years, according to research from Imperial College London and the Carbon Tracker Initiative, a think tank, published Thursday. A similar 10 percent loss of market share caused the collapse of the U.S. coal mining industry and wiped more than a 100 billion euros ($108 billion) off the value of European utilities from 2008 to 2013, the report said.

(Image: Razzouk/Shutterstock)
(Image: Razzouk/Shutterstock)

Major oil companies are waking up to the potential disruption plug-in vehicles could have on their industry. BP Plc says electric vehicles, or EVs, could erase as much as 5 million barrels a day in the next 20 years, while analysts at Wood Mackenzie say they could erode as much as 10 percent of global gasoline demand over that time. Global oil demand could peak in as little as five years, according to Royal Dutch Shell Plc Chief Financial Officer Simon Henry.

By 2040 16 million barrels a day of oil demand could be displaced, rising to 25 million by 2050, a

“stark contrast to the continuous growth in oil demand expected by industry,”

according to the report. The impact on the oil industry could exceed price slump of 2014 to 2016 that “wiped hundreds of billions off capex,” Stefano Ambrogi, a spokesman for the Carbon Tracker Institute, said by e-mail.

The cost of EVs is already falling faster than previous forecasts and they could reach parity with conventional internal combustion vehicles by 2020, eventually saturating the passenger vehicle market by 2050, the report said.

EVs may take 19 to 21 percent of the road transport market by 2035, according to the researchers. That’s three times BP’s projection of 6 percent market share in 2035. By 2050, EVs would comprise 69 percent of the road-transport market, with oil-powered cars accounting for about 13 percent.

Source: Bloomberg