Renewable projects struggling to plug in
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Impact of green bonds on CO2 emissions and disaggregated level renewable electricity in China and the United States of America
Green financial products have emerged that can benefit economic actors in financing green initiatives to promote renewable energy and enable carbon neutrality. Against this backdrop, the study examines the impact of green bonds (GBs) on carbon dioxide (CO2) emissions and renewable electricity generation (EG) in China and the USA, the leading countries in terms of GB issuance and CO2 emissions. To this end, the study conducts a disaggregated-level analysis by applying novel nonlinear quantile methods between January 2, 2019, and July 31, 2023. The results demonstrate that at higher quantiles; (i) GBs mainly have a dampening impact on CO2 emissions from the transportation sector in China and the USA; (ii) GBs have a stimulating impact on solar and wind EG in China; (iii) GBs have a diminishing impact on all types of EGs in the USA. Thus, GBs have an impact on carbon neutrality and renewable energy, which differs by quantiles, sectors, and EG sources. Accordingly, various policy implications are discussed in terms of further contributions of GBs to carbon neutrality and renewable energy in China and the USA.
Power price stability and the insurance value of renewable technologies
To understand if renewables stabilize or destabilize electricity prices, we simulate European power markets as projected by the National Energy and Climate Plans for 2030 but replicating the historical variability in electricity demand, the prices of fossil fuels and weather. We propose a β-sensitivity metric, defined as the projected increase in the average annual price of electricity when the price of natural gas increases by 1 euro. We show that annual power prices spikes would be more moderate because the β-sensitivity would fall from 1.4 euros to 1 euro. Deployment of solar photovoltaic and wind technologies exceeding 30% of the 2030 target would lower it further, below 0.5 euros. Our framework shows that this stabilization of prices would produce social welfare gains, that is, we find an insurance value of renewables. Because market mechanisms do not internalize this value, we argue that it should be explicitly considered in energy policy decisions.
An Integrative lifecycle design approach based on carbon intensity for renewable-battery-consumer energy systems
Driven by sustainable development goals and carbon neutrality worldwide, demands for both renewable energy and storage systems are constantly increasing. However, the lack of an appropriate approach without considering renewable intermittence and demand stochasticity will lead to capacity oversizing or undersizing. In this study, an optimal design approach is proposed for integrated photovoltaic-battery-consumer energy systems in the form of a m2-kWp-kWh relationship in both centralized and distributed formats. Superiorities of the proposed matching degree approach are compared with the traditional uniformity approach, in photovoltaic capacity, battery capacity, net present value and lifecycle carbon intensity. Results showed that the proposed method is superior to the traditional approach with higher net present value and lower carbon intensity. Furthermore, the proposed method can be scaled and applied to guide the design of photovoltaic-battery-consumer energy systems in different climate zones, promoting sustainable development and carbon neutrality globally.
Enhanced geothermal systems for clean firm energy generation
Geothermal energy provides clean, steady and renewable electricity and heat, but the use of geothermal energy has conventionally been constrained to locations with adequate subsurface heat and fluid flow. Enhanced geothermal systems (EGS) enable geothermal energy usage in unconventional areas by enhancing the subsurface permeability and increasing fluid flow, which is then extracted as a carrier of the thermal energy. In this Review, we discuss the development of EGS and its role in providing energy. Some EGS are operating commercially in Europe and provide heat and/or electricity, but technical issues and concerns over induced seismicity have historically hindered the broader expansion of EGS. Adaptation of advanced drilling techniques (including the use of polycrystalline diamond compact bits, multiwell drilling pads, horizontal drilling and multistage stimulation) is enabling an increase in scale and decrease in cost of EGS projects. As a result, in the USA, enhanced geothermal is expected to achieve plant capital costs (US$4,500 kW−1) and a levelized cost of electricity (US$80 MWh−1) that are competitive with market electricity prices by 2027. With further development of EGS to manage induced seismicity risk and increase system flexibility, EGS could provide stable baseload and potentially dispatchable electricity in clean energy systems.
Extravascular coagulation regulates haemostasis independently of activated platelet surfaces in an in vivo mouse model
While the conventional understanding of haemostatic plug formation is that coagulation proceeds efficiently on the surface of activated platelets at the vascular injury site to form a robust haemostatic plug, this understanding does not explain the clinical reality that platelet dysfunction results in a mild bleeding phenotype, whereas coagulation disorders exhibit severe bleeding phenotypes, particularly in deep tissues. Here, we introduce an in vivo imaging method to observe internal bleeding and subsequent haemostatic plug formation in mice and report that haemostatic plug formation after internal bleeding, coagulation occurs primarily outside the blood vessel rather than on platelets. Experiments in mice with impaired platelet surface coagulation, depleted platelets, haemophilia A or reduced tissue factor expression suggest that this extravascular coagulation triggers and regulates haemostatic plug formation. Our discovery of the important role of extravascular coagulation in haemostasis may contribute to refining the treatment of haemostatic abnormalities and advancing antithrombotic therapy.
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