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New frontiers for alternative energy

New frontiers for alternative energy. Reid Buckley, Vice-President, BP Alternative Energy. Energy demand 2005-2030. Billion tonnes oil equivalent. - Reference scenario represents ‘business-as-usual’

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New frontiers for alternative energy

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  1. New frontiers for alternative energy Reid Buckley, Vice-President, BP Alternative Energy

  2. Energy demand 2005-2030 Billion tonnes oil equivalent - Reference scenario represents ‘business-as-usual’ - Alternative scenario assumes all climate change and energy security policies now being considered by governments are adopted Source: IEA World Economic Outlook 2007

  3. CO2 emissions 2005-2030 Billion tonnes CO2 Reference scenario represents ‘business-as-usual’ Alternative scenario assumes all climate change and energy security policies now being considered by governments are adopted 2°C scenario shows IEA calculation of path needed to prevent temperatures rising 2°C over pre-industrial levels Source: IEA World Economic Outlook 2007

  4. Energy drivers Demand Climate change High energy prices Energy security

  5. Energy criteria Availability Sustainability Affordability Reliability

  6. Alternative energy Low-or-no carbon Plentiful Secure Increasingly attractive economically “I’d put my money on the sun and solar energy. What a source of power! I hope we don’t have to wait until oil and coal run out before we tackle that.” Thomas Edison, 1931

  7. Policy support for alternative energy Policy targets in 66 countries Feed-in tariffs in 37 countries Mandates for biofuels in 17 countries Source: Ren21 Global Status Report 2007, Renewable Energy Policy Network

  8. Alternative energy: the market today 40 30 % 20 10 0 Total PrimaryEnergy Wind Solar Biofuels Global new investment in clean energy Demand growth p.a. since 2001 $148.4bn 150 125 60%Growth 100 $86.5bn 58%Growth 75 $bn $54.6bn 50 91%Growth $28.6bn 25 0 2004 2005 2006 2007 Grossed-up estimate based on disclosed deals. New investment only. Source: New Energy Finance Sources: Primary energy based on IEA WEO reference scenario. Renewables based on New Energy Finance 8

  9. Alternative energy: the market today 40 30 % 20 10 0 Total PrimaryEnergy Wind Solar Biofuels Global new investment in clean energy Demand growth p.a. since 2001 $148.4bn 150 125 60%Growth 100 $86.5bn 58%Growth 75 $bn $54.6bn Jobs in renewable energy – 2,400,000 50 91%Growth $28.6bn 25 0 2004 2005 2006 2007 Grossed-up estimate based on disclosed deals. New investment only. Source: New Energy Finance Sources: Primary energy based on IEA WEO reference scenario. Renewables based on New Energy Finance 9

  10. Proportions of world energy today

  11. US wind capacity - beating the projections GW Actual capacity end-2007 EIA projection from 2004

  12. BP Alternative Energy

  13. Solar PV facility / market Wind power Hydrogen power Biofuels facility / market Gas fired power BP Alternative Energy: a growing global business Investing $1.5bn in 2008 – as much as in previous two years combined

  14. BP Alternative Energy: solar power • 30 years’ experience, 20 offices, 2000+ employees, installations in 160 countries. • Manufacturing facilities in Frederick US, Bangalore, Madrid, Xian and Sydney. • Expecting to grow 60%+ by 2012. • Expanding production to achieve target sales of around 800MW with similar levels of production by 2010 • Includes $97m expansion at Frederick – largest integrated solar manufacturing plant in US • Advanced Mono² process; support for research projects

  15. BP Alternative Energy: wind power 3GW 1GW 30 MW Expected installed gross capacity MW US land portfolio with potential for 15GW 15

  16. BP Alternative Energy: wind power Built: Colorado: Cedar Creek wind farm with partner Babcock & Brown – 300MW Dhule, India - project built with partner Suzlon – 40MW Netherlands: Two farms – total 30MW Under construction: Indiana: Fowler Ridge wind farm with Dominion – Phase I - 400MW Texas: Silver Star project with Clipper - 60MW; Sherbino project with NRG Energy - 150MW Kansas: Flat Ridge farm with Westar Energy - 100MW California – re-powering Edom Hills – 20MW 16

  17. BP Alternative Energy: biofuels Producing ‘good’ biofuels – which reduce emissions and enhance security without damaging habitats and forests $1bn investment in Brazilian ethanol – made from sustainable sugar-cane - the most efficient feedstock currently available - greenhouse gas emissions reductions of up to 80% Working with DuPont to demonstrate biobutanol Investing $500 million over 10 years in the Energy Biosciences Institute to explore advanced biofuels and other applications of biotech to energy 17

  18. BP Alternative Energy: hydrogen energy Concept for Abu Dhabi power station

  19. New policies on alternative energy Climate high on agenda for G8 and UN Climate summit in Copenhagen December 2009 Carbon price of up to $60 projected by 2012* National legislation or proposals underway in many countries *Source: New Energy Finance

  20. Alternative energy: future market drivers Demand growth p.a. 2005-2030E 25 20 15 % 10 5 0 Total PrimaryEnergy Wind Solar Biofuels Sources: Primary energy based on IEA WEO 2007 reference scenario. Renewables based on New Energy Finance Global new investment in 2030 - Clean Tech forecast 3000 $2-3trn 2000 $bn 1000 $148bn 0 2007 2030 Source: New Energy Finance, Nov 2007 20

  21. Solar potential – Central America

  22. Wind potential – Central America

  23. New frontiers for alternative energy Reid Buckley, Vice-President, BP Alternative Energy

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