Sarastro
@financeguy.bsky.social
Institutional money manager 🇬🇧🇨🇭🇫🇷
Markets, energy, history, politics
Markets, energy, history, politics
Reposted by Sarastro
I want to come back properly on this Economist piece that questions Britain's approach to net zero.
It gets three things wrong imo:
1. Ignoring periods of v cheap renewable energy
2. Misdiagnosing the relative costs of renewables
3. Looking backwards, not forwards.
It gets three things wrong imo:
1. Ignoring periods of v cheap renewable energy
2. Misdiagnosing the relative costs of renewables
3. Looking backwards, not forwards.
Is Britain’s net-zero push to blame for its high energy prices?
A mighty rise in electricity costs has complicated the drive for clean power
www.economist.com
August 5, 2025 at 4:18 PM
I want to come back properly on this Economist piece that questions Britain's approach to net zero.
It gets three things wrong imo:
1. Ignoring periods of v cheap renewable energy
2. Misdiagnosing the relative costs of renewables
3. Looking backwards, not forwards.
It gets three things wrong imo:
1. Ignoring periods of v cheap renewable energy
2. Misdiagnosing the relative costs of renewables
3. Looking backwards, not forwards.
Reposted by Sarastro
Large chunk of the world won’t care about oil embargoes very soon
@bhadrarukum.bsky.social:
“The EV revolution comes to Nepal.
Subsidies, hydroelectricity and a manufacturing powerhouse neighbor are moving the cars into Nepal faster than almost anywhere else.”
⚡️⚡️⚡️
#alwaysbecharging
www.nytimes.com/2025/07/28/b...
“The EV revolution comes to Nepal.
Subsidies, hydroelectricity and a manufacturing powerhouse neighbor are moving the cars into Nepal faster than almost anywhere else.”
⚡️⚡️⚡️
#alwaysbecharging
www.nytimes.com/2025/07/28/b...
July 29, 2025 at 9:48 AM
Large chunk of the world won’t care about oil embargoes very soon
Solar panels from $0.1/w ..
July 19, 2025 at 10:49 AM
Solar panels from $0.1/w ..
Reposted by Sarastro
I think a big reason prices are so low in SA is that, while the costs of solar and BESS are falling yearly, Chinese manufacturers are also just undercutting everyone else in open/no tariff markets—see the two SA BESS systems that were priced at ~72/kWh: www.linkedin.com/posts/mlkubi...
📰 BESS prices outside China have just hit some fresh record lows – here's the latest on international #energystorage market benchmarks: | Marek Kubik
📰 BESS prices outside China have just hit some fresh record lows – here's the latest on international #energystorage market benchmarks:
💰 Some fresh public data has just dropped, and it’s clear ...
www.linkedin.com
July 14, 2025 at 4:51 PM
I think a big reason prices are so low in SA is that, while the costs of solar and BESS are falling yearly, Chinese manufacturers are also just undercutting everyone else in open/no tariff markets—see the two SA BESS systems that were priced at ~72/kWh: www.linkedin.com/posts/mlkubi...
Reposted by Sarastro
Saudi Arabia is installing solar for 1.4 cents per kWh and is on pace for a 50% renewables electricity grid by 2030
In CT our standard offer rate is 9.7 cents per kWh for supply. Obviously we aren't a desert but it seems pretty feasible we can do a lot better than Natural Gas Ned is planning for
In CT our standard offer rate is 9.7 cents per kWh for supply. Obviously we aren't a desert but it seems pretty feasible we can do a lot better than Natural Gas Ned is planning for
Just take a look at the prices at which these deals cleared.. these are obviously for intermittent solar (without batteries) but all the same they represent interesting benchmarks for public procurement of solar power in sunny places
July 14, 2025 at 6:01 PM
Saudi Arabia is installing solar for 1.4 cents per kWh and is on pace for a 50% renewables electricity grid by 2030
In CT our standard offer rate is 9.7 cents per kWh for supply. Obviously we aren't a desert but it seems pretty feasible we can do a lot better than Natural Gas Ned is planning for
In CT our standard offer rate is 9.7 cents per kWh for supply. Obviously we aren't a desert but it seems pretty feasible we can do a lot better than Natural Gas Ned is planning for
Reposted by Sarastro
Sunny deals: Solar prices shine! #finsky
Just take a look at the prices at which these deals cleared.. these are obviously for intermittent solar (without batteries) but all the same they represent interesting benchmarks for public procurement of solar power in sunny places
July 14, 2025 at 4:50 PM
Sunny deals: Solar prices shine! #finsky
Reposted by Sarastro
Desalination seems to currently use about 3 kWH per cubic meter, so at these prices, the water needed to grow a pound of almonds would cost you around $0.30
Just take a look at the prices at which these deals cleared.. these are obviously for intermittent solar (without batteries) but all the same they represent interesting benchmarks for public procurement of solar power in sunny places
July 14, 2025 at 4:45 PM
Desalination seems to currently use about 3 kWH per cubic meter, so at these prices, the water needed to grow a pound of almonds would cost you around $0.30
Yesterday the Saudi Government’s Renewables procurement body signed 7 agreements for PPAs with ACWA relating to 15 GW of solar power, the largest single deal that has been signed to date and significantly boosting the Kingdom’s plans to decarbonise its electricity grid by 2030.
on.ft.com/4eSvrYa
on.ft.com/4eSvrYa
Saudi Arabia to boost renewable energy with $8bn investment
ACWA Power leads consortium that will build five solar and two wind projects in the kingdom
on.ft.com
July 14, 2025 at 4:37 PM
Yesterday the Saudi Government’s Renewables procurement body signed 7 agreements for PPAs with ACWA relating to 15 GW of solar power, the largest single deal that has been signed to date and significantly boosting the Kingdom’s plans to decarbonise its electricity grid by 2030.
on.ft.com/4eSvrYa
on.ft.com/4eSvrYa
Reposted by Sarastro
Sorry to wade into the air con wars again, but... I spoke to @jim.londoncentric.media last week about why more homes in London don't have air con.
The bottom line is: air con in Britain is almost always a heat pump, and heat pumps are good for the climate
www.londoncentric.media/p/why-london...
The bottom line is: air con in Britain is almost always a heat pump, and heat pumps are good for the climate
www.londoncentric.media/p/why-london...
Why London homes don't have air con
Plus: Lego asks the London Conservatives to stop using yellow bricks to mock Sadiq Khan — and do you want to live in a former aircraft factory in Zone 3?
www.londoncentric.media
July 14, 2025 at 9:56 AM
Sorry to wade into the air con wars again, but... I spoke to @jim.londoncentric.media last week about why more homes in London don't have air con.
The bottom line is: air con in Britain is almost always a heat pump, and heat pumps are good for the climate
www.londoncentric.media/p/why-london...
The bottom line is: air con in Britain is almost always a heat pump, and heat pumps are good for the climate
www.londoncentric.media/p/why-london...
“The UK’s sea level is rising faster than the global average and at an accelerating rate… Sea levels have risen by 13.4cm in the UK since 1993, compared with a global average of 10.6cm, according to the annual state of the UK climate report published on Monday.”
on.ft.com/4lzrgmM
on.ft.com/4lzrgmM
UK sea level rising faster than global average, study finds
Britain is getting wetter and warmer as new temperature records become norm
on.ft.com
July 14, 2025 at 10:30 AM
“The UK’s sea level is rising faster than the global average and at an accelerating rate… Sea levels have risen by 13.4cm in the UK since 1993, compared with a global average of 10.6cm, according to the annual state of the UK climate report published on Monday.”
on.ft.com/4lzrgmM
on.ft.com/4lzrgmM
“..the unlevered after-tax IRRs of TEF .gas.. power projects have unlevered after-tax IRRs of 3%-28%, a sharp drop from pre-2025 levels as capital costs have surged by as much as threefold.“
www.enverus.com/newsroom/str...
www.enverus.com/newsroom/str...
Stranded sparks: Rising costs threaten viability of Texas Energy Fund projects | Enverus
Enverus Intelligence® Research (EIR) has released a report that analyzes how rising capital costs and supply chain delays have affected natural gas-fired power projects under the Texas Energy Fund (TE...
www.enverus.com
July 12, 2025 at 9:11 AM
“..the unlevered after-tax IRRs of TEF .gas.. power projects have unlevered after-tax IRRs of 3%-28%, a sharp drop from pre-2025 levels as capital costs have surged by as much as threefold.“
www.enverus.com/newsroom/str...
www.enverus.com/newsroom/str...
Reposted by Sarastro
"In a ... hint of past financial turmoil, mortgage defaults begin to rise, along with ... credit card delinquencies. But this time, it’s different. Unlike other financial disasters, the underlying cause of this one is not financial, it is physical, and it is not clear how it will ever end."
This is thought provoking from the FT.
It’s already clear (as I have previously discussed in this stream) that insurance companies are raising premiums and withdrawing cover for housing in some US states given the frequency and intensity of wildfires, storms and hurricaines.
on.ft.com/46dSz0R
It’s already clear (as I have previously discussed in this stream) that insurance companies are raising premiums and withdrawing cover for housing in some US states given the frequency and intensity of wildfires, storms and hurricaines.
on.ft.com/46dSz0R
How the next financial crisis starts
The climate shocks that could trigger wider market turmoil
on.ft.com
June 30, 2025 at 6:01 AM
"In a ... hint of past financial turmoil, mortgage defaults begin to rise, along with ... credit card delinquencies. But this time, it’s different. Unlike other financial disasters, the underlying cause of this one is not financial, it is physical, and it is not clear how it will ever end."
This is thought provoking from the FT.
It’s already clear (as I have previously discussed in this stream) that insurance companies are raising premiums and withdrawing cover for housing in some US states given the frequency and intensity of wildfires, storms and hurricaines.
on.ft.com/46dSz0R
It’s already clear (as I have previously discussed in this stream) that insurance companies are raising premiums and withdrawing cover for housing in some US states given the frequency and intensity of wildfires, storms and hurricaines.
on.ft.com/46dSz0R
How the next financial crisis starts
The climate shocks that could trigger wider market turmoil
on.ft.com
June 29, 2025 at 9:32 PM
This is thought provoking from the FT.
It’s already clear (as I have previously discussed in this stream) that insurance companies are raising premiums and withdrawing cover for housing in some US states given the frequency and intensity of wildfires, storms and hurricaines.
on.ft.com/46dSz0R
It’s already clear (as I have previously discussed in this stream) that insurance companies are raising premiums and withdrawing cover for housing in some US states given the frequency and intensity of wildfires, storms and hurricaines.
on.ft.com/46dSz0R
Here’s Prime Minister of Jamaica, Andrew Holness, discussing how solar and batteries can help reduce power prices across the economy
www.facebook.com/share/r/16aF...
www.facebook.com/share/r/16aF...
Redirecting...
www.facebook.com
June 26, 2025 at 7:58 AM
Here’s Prime Minister of Jamaica, Andrew Holness, discussing how solar and batteries can help reduce power prices across the economy
www.facebook.com/share/r/16aF...
www.facebook.com/share/r/16aF...
The fall in price of solar panels and the continued increase in their efficiency has led to a big fall in power generated by solar. The same has been true of batteries.
ember-energy.org/latest-insig...
ember-energy.org/latest-insig...
Solar electricity every hour of every day is here and it changes everything | Ember
Batteries are now cheap enough to unleash solar energy’s full potential, getting as close as 97% of the way to delivering constant electricity supply 24 hours across 365 days cost-effectively in the s...
ember-energy.org
June 22, 2025 at 10:42 AM
The fall in price of solar panels and the continued increase in their efficiency has led to a big fall in power generated by solar. The same has been true of batteries.
ember-energy.org/latest-insig...
ember-energy.org/latest-insig...
It is certainly true that climate change risks are long-tailed risks. But the market is a discounting mechanism and long term risks are increasingly being reflected in short term profitability via the insurance market. Investors should watch these carefully.
www.bloomberg.com/news/newslet...
www.bloomberg.com/news/newslet...
Insurers Want Businesses to Wake Up to Costs of Extreme Heat
Today’s newsletter looks at the “invisible peril” of extreme heat and how it's becoming a growing risk to businesses worldwide. Later, read our scoop on an internal US government memo outlining ways t...
www.bloomberg.com
June 20, 2025 at 8:09 AM
It is certainly true that climate change risks are long-tailed risks. But the market is a discounting mechanism and long term risks are increasingly being reflected in short term profitability via the insurance market. Investors should watch these carefully.
www.bloomberg.com/news/newslet...
www.bloomberg.com/news/newslet...
The big take-way from the crisis is that the drive to shift away from imported hydrocarbons to renewables and batteries was the right strategy on cost and risk grounds..
www.ft.com/content/c139...
www.ft.com/content/c139...
China’s bet on Iranian oil and Middle East influence turns sour
President Xi is likely to double down on energy independence drive as Strait of Hormuz risks rise
www.ft.com
June 20, 2025 at 7:13 AM
The big take-way from the crisis is that the drive to shift away from imported hydrocarbons to renewables and batteries was the right strategy on cost and risk grounds..
www.ft.com/content/c139...
www.ft.com/content/c139...
Your regular reminder that the output of the French nukes, marvellous as they are, are sensitive to weather conditions
www.bloomberg.com/news/article...
www.bloomberg.com/news/article...
EDF May Curb French Nuclear Output From June 25 Due to Heat Wave
Electricite de France SA said a heat wave that’s spreading across the country may force it to curb nuclear output from June 25 due to the rising temperature of the Rhone river that’s used for cooling ...
www.bloomberg.com
June 20, 2025 at 3:47 AM
Your regular reminder that the output of the French nukes, marvellous as they are, are sensitive to weather conditions
www.bloomberg.com/news/article...
www.bloomberg.com/news/article...
We once thought that economic growth in China would led to huge increases in demand for oil as people bought and drove more cars, industry needed more energy and people took more planes to more places.
June 18, 2025 at 9:43 AM
We once thought that economic growth in China would led to huge increases in demand for oil as people bought and drove more cars, industry needed more energy and people took more planes to more places.
“..the team also concluded that the enhancement in cooling efficiency extends the operational lifespan of PV panels by over 200% and reduces the levelized cost of electricity by 18%…”
www.pv-magazine.com/2025/06/09/n...
www.pv-magazine.com/2025/06/09/n...
New cooling gel could raise PV module efficiency by 12%
Researchers in Saudi Arabia have developed a hydrogel composite that absorbs moisture in solar modules overnight and facilitates evaporative cooling throughout daylight hours. The system has undergone...
www.pv-magazine.com
June 11, 2025 at 12:48 PM
“..the team also concluded that the enhancement in cooling efficiency extends the operational lifespan of PV panels by over 200% and reduces the levelized cost of electricity by 18%…”
www.pv-magazine.com/2025/06/09/n...
www.pv-magazine.com/2025/06/09/n...
“Most of the electricity in India…still comes from coal, one of the dirtiest forms of energy. But coal’s dominance is dropping, going from 60% of installed power capacity 11 years ago to less than 50% today, according to India’s power ministry.”
apnews.com/article/clim...
apnews.com/article/clim...
India, a major user of coal power, is making large gains in clean energy adoption. Here is how
India, one of the most carbon-polluting countries, has witnessed sharp growth in renewable energies like solar and wind.
apnews.com
June 7, 2025 at 9:20 AM
“Most of the electricity in India…still comes from coal, one of the dirtiest forms of energy. But coal’s dominance is dropping, going from 60% of installed power capacity 11 years ago to less than 50% today, according to India’s power ministry.”
apnews.com/article/clim...
apnews.com/article/clim...
“The plant also pioneers the use of a grid-forming energy storage system capable of autonomously adjusting voltage and frequency during grid fluctuations or outages.
www.ess-news.com/2025/06/03/c...
www.ess-news.com/2025/06/03/c...
China launches world’s first grid-forming sodium-ion battery storage plant - Energy Storage
The Baochi Storage Station in Yunnan integrates lithium and sodium-ion technologies at scale, a global first, aiming to stabilize renewable energy and cut costs as China accelerates its energy transit...
www.ess-news.com
June 3, 2025 at 3:41 PM
“The plant also pioneers the use of a grid-forming energy storage system capable of autonomously adjusting voltage and frequency during grid fluctuations or outages.
www.ess-news.com/2025/06/03/c...
www.ess-news.com/2025/06/03/c...
Reposted by Sarastro
"When a $7,700 high quality EV car emerges, cheaper than a lap-top, a 30kWh mobile storage unit as well.. it is difficult to avoid the idea we have crossed an energy threshold We don't need our spreadsheets on this day to declare [that energy] transition… is real”
open.substack.com/pub/harryben...
open.substack.com/pub/harryben...
The Seagull
The car that signals the energy transition is fast underway
open.substack.com
May 31, 2025 at 12:40 PM
"When a $7,700 high quality EV car emerges, cheaper than a lap-top, a 30kWh mobile storage unit as well.. it is difficult to avoid the idea we have crossed an energy threshold We don't need our spreadsheets on this day to declare [that energy] transition… is real”
open.substack.com/pub/harryben...
open.substack.com/pub/harryben...