Global Gasoline Consumption Set to Plummet
According to Navigant Research, gasoline consumption for road transportation will drop by 4% from 2014 to 2035 as more and more nations strive to reduce fuel consumption and redefine dependence on oil for transportation. Contributing to the reduced use of gasoline are the rising number of electric and hybrid vehicles. Alternative-fuels have also grown in popularity in the recent years. Navigant predicts that gasoline consumption will first rise through to 2021, reaching 367.3 billion gallons per year, before beginning to fall, declining towards 348.1 billion gallons a year in 2035.
MIT Efficiently Turns Solar Steam Into Energy, Clean Water
MIT scientists have devised a new method that will enable steam generators to function with much lower sunlight concentration through a method that puts out the lowest optical concentration reported thus far: steam generation at an intensity about 10 times that of a sunny day. In principle, the system is just like a sponge place in water on a hot, sunny day, which can continuously absorb and evaporate liquid. Along with its potential to replace inefficient steam-producing mirror fields currently used in the power industry, the solar steam system will also be able to efficiently desalinate or decontaminate impure water.
Areva Posts Loss, Announces Close of Solar Unit
Areva, a French multinational company specializing in nuclear and renewable energy, posted a first-half loss and announced it was closing its solar business. Delays, cost overruns, and the 2011 Fukushima disaster all contributed to the poor sales performance of its European Pressurized Reactor (EPR) technology. Areva holds the distinction of being the world’s largest nuclear company, said that it will cut 1,500 jobs in Germany by the end of 2015 and 200 in the U.S. this year.
Siemens Eyes Mexican Wind Market
Siemens AG, the largest European engineering company, is considering power industry opportunities in Mexico after efforts by President Nieto to relax investment restrictions in the country. Mexico’s Senate approved legislation last month to help open its energy industry to private companies for the first time in more than seven decades. Kirk Edelman, head of energy financing at Siemens Financial Services (SFS), said that the recent move by the Mexican government suddenly opened up a lot of opportunities, especially in the wind power sector. SFS, Siemen’s project-financing unit, is providing financing for equipments from trains and turbines to medical apparatuses to help its parent company to spur demand in new markets.