In two years there will be three times as many electric vehicles on the road
According to the International Energy Agency (IEA), the energy policy advisory institute based in Paris, the number of electric vehicles (EVs) on the road is set to triple in two years.
The body organisation has forecast that by 2020 there will be 13mn EVs in transit, up from the 3.1mn recorded at the end of last year.
In 2017, the amount of EVs in use compared to the previous rose by 54%, the IEA claims.
The report released by the institution suggests that by the end of the decade there will be enough cars for every person in Japan – the 11th most populous nation in the world.
The IEA also predicts that by 2030, the implementation of new energy policies will encourage EV ownership to reach 125mn.
“The uptake of electric vehicles is still largely driven by the policy environment,” the report reads.
“The 10 leading countries in electric vehicle adoption all have a range of policies in place to promote the uptake of electric cars.”
China is predicted to remain the largest market in the world for EVs, the report argues, with the vehicles to account for 25% of all cars sold in the country by 2030.
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.