Good morning all and welcome back to the Green New Spiel, the newsletter bringing you the latest stories and developments in the world of clean-tech, green energy and other climate related news.
We are back with some fantastic stories today! Remember to drop us a message if you want us to cover more of a particular sector / space 💡
This week on the Green New Spiel:
🛑 Deep sea mining hits a roadblock - difficult conversations in Jamaica
🔋 We’re heating up the conversation around batteries - heat batteries for industry
💰 Texas is missing a trick - demand-side response policies
🌡 It’s been really hot - heat waves break records
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🏝 🍹 Just so you are aware, the Green New Spiel will be pausing for a summer break over August - we look forward to seeing you back in September! 🏝 🍹
🛑 Deep sea mining hits a roadblock
The International Seabed Authority (ISA) meeting in Jamaica concluded without the hoped-for approval for industrial-scale deep-sea mining, instead agreeing to hold formal discussions on marine environment protection in 2024. The intense week-long negotiations resulted in China's agreement to a precautionary pause on mining, a move supported by various countries and environmentalists.
The ISA council decided more time was needed to finalize regulations, targeting 2025, despite some advocates emphasizing the urgent need for the collection of the critical metal nodules found on the seabed.
🔋 We’re heating up the conversation around batteries
Silicon Valley startup Antora Energy is developing affordable thermal batteries to store energy from wind and solar sources for large factories. Unlike conventional batteries that store energy through electrochemical bonds, Antora's thermal batteries store energy as heat by heating solid carbon blocks, potentially at a much lower cost.
Though currently expensive to produce, the technology could eventually be significantly cheaper than conventional lithium-ion batteries. This innovation is seen as a "multitrillion-dollar market opportunity," and Antora has raised $80 million from investors including Breakthrough Energy Ventures (Bill Gates’ VC) and Shell Ventures.
💰 Texas is missing a trick
Texas, along with many other areas, is grappling with extreme heat and record-breaking electricity demand this summer. However experts are pointing out the state's failure to incentivize residents to reduce their energy consumption during peak periods. While wind and solar power contribute to the grid, there is a vast untapped potential in energy-efficient homes and demand response programs.
A recent report by the American Council for an Energy-Efficient Economy (ACEEE) emphasizes the potential benefits of such initiatives, estimating that a combination of utility spending on efficiency and demand-response programs could reduce summer peak electricity demand by over 14 gigawatts from 2024 to 2030.
Smart meters and financial incentives to customers could significantly ease the strain on the grid during heatwaves - see how successful Octopus was in doing this last winter in the UK.
🌡 It’s been really hot
Let’s wrap up the month by acknowledging that heatwave. The Copernicus Climate Change Service has issued a warning that July is likely to be the hottest July ever recorded. Human-caused climate change is cited as the primary factor behind disasters such as wildfires and extreme temperatures, which have been observed in North America, Asia, and Europe. Notably, China set a national record temperature, reaching 52℃ on July 16.
This all comes off the back of the hottest June ever recorded…
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Ciao,
Carlo and Rob