Blockchain, in particular Bitcoin, is well known within the energy industry for having an enormous power demand, mostly fed by dirty coal-fired power of China. This stigma, however, is correct but doesn’t say anything about the technology per se. Every single revolution of the past as well as in the future has and will require excessive amounts of energy, as any sort of movement depends on energy triggers to take place. The entire, worldwide, Bitcoin network currently consumes as much power as a state like Syria, and one Bitcoin transaction needs the CO2 equivalent of 679,430 Visa Credit Card transactions.
Levelized costs of energy (LCOE) is one of the essential measures when it comes to energy-related projects, no matter the energy source, timespan, size, or location of the project. Not only provide LCOE’s a possible point of comparison across the various sources, but also a reasonable estimate and guideline of how power plants can break even, generate profit and eventually how expenditures need to be handled.
Carbon Capture and Storage (CCS) can be practised in two ways, naturally and mechanically. The natural approach is much about planting additional trees, algae in the sea or even the most giant creatures on earth, whales, contribute to natural CCS by consuming massive amounts of carbon within their lifespan of up to a century. The mechanical procedure mainly focusses on capturing waste CO2 from abundant point sources, such as cement factories or biomass power plants (for more detailed information on biomass check out our blog post Biomass – Renewable Energy by burning our forests?).
Complementing one of our older posts The time of Hydrogen is NOW, today’s focus will lie on the several ways of hydrogen production, looking deeper into the underlying processes and potential future green hydrogen technologies.
Talking about Biomass, the probably oldest energy source on earth after the sun, one can distinguish between five different types of Biomass, e.g. (i) wood- chips, logs, bark and sawdust, (ii) agricultural products, (iii) solid waste, (iv) landfill- and biogas and (v) alcohol fuels.