Energy choices that will define America
The American Security Project released a key report regarding the choices America faces regarding Energy production and consumption. It predicts that 2014 will be a year of continued upheaval for America's energy system and lays out the choices that the nation faces in ensuring that the vitality of the U.S. economy, America's nation security, and the global environment are not undermined.
Written by senior fellow for energy and climate, Andrew Holland, the report developed three critical policy considerations surrounding the United States' energy choices. Energy Security, Economic Stability, and Environmental Sustainability are all examined in light of three primary energy sources: fossil fuels, nuclear power, and renewable power.
The report does not focus on one pre-approved path for legislators, but considers the tradeoffs faced when deciding on these possible choices. Ultimately, it argues that policymakers must consider:
- The ability of a country to act in its foreign policy independently of how it uses energy domestically;
- How energy affects the health of the country's economy over the long-term;
- When the production and use of an energy source causes undue external harm.
“In a system where all decisions have become inherently political, a politician will try to avoid making a choice that will anger a constituency,” Holland said. “Making a decision on these five energy choices will not be popular – but they are necessary. The time has passed for bipartisan delay and obfuscation: it is time to get to work.”
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Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.