Solar Thermoelectric
Solar thermoelectric technology, also known as concentrated solar power (CSP), captures sunlight and concentrates it using mirrors and lenses to produce high-temperature heat, which is then converted into electricity using steam turbines or other thermoelectric devices. Solar thermoelectric technology provides a sustainable alternative to fossil fuel-based electricity generation by harnessing the sun’s abundant and renewable energy. Unlike photovoltaic solar panels, CSP can store thermal energy for use when the sun isn't shining, making it a more versatile option for ensuring a stable and reliable electricity supply. By reducing reliance on fossil fuels, CSP lowers greenhouse gas emissions, contributes to energy security, and supports the transition to a low-carbon economy. To expand the use of solar thermoelectric technology, significant investments are needed in research and development to improve the efficiency and cost-effectiveness of CSP systems. Integrating CSP into existing energy grids requires upgrades in grid infrastructure to manage the intermittent nature of solar energy. Collaboration between governments, the private sector, and research institutions is essential to overcome technological challenges and scale up CSP deployment globally.
Achieving the Paris Climate Agreement Goals Part 2: Science-based Target Setting for the Finance industry—Net-Zero Sectoral 1.5˚C Pathways for Real Economy Sectors
The One Earth Climate Model (OECM) began as a research project supported by One Earth between the University of Technology Sydney, the German Aerospace Centre, and the University of Melbourne in 2017. They were tasked with developing a detailed 1.5˚C GHG trajectory for ten world regions without the continued use of fossil fuels or unproven technologies like carbon capture and storage. The results of the first model made it clear that it is still possible to limit warming to 1.5˚C with a rapid transition to 100% renewable energy sources. However, the model did not yet have the granularity the financial sector needed to guide and benchmark net-zero investments. The book, Achieving the Paris Climate Agreement Goals Part 2: Science-based Target Setting for the Finance Industry — Net-Zero Sectoral 1.5˚C Pathways for Real Economy Sectors, is designed as a continuation of this group’s 2019 first edition, which focused on country-specific energy pathways. Decarbonization pathways have been developed for countries, regions, and communities, but never before for industry sectors in a detailed way. While the book consists of 400 pages of dense methodologies and calculations, its topline message is clear; in the words of the lead author Sven Teske, “ We can limit global warming to 1.5˚C with the technology pathways we describe... I would call it an action plan to save the future for our children and their children."