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70-489: Scottish Widows Investment Partnership (SWIP) was an asset management company based in Edinburgh, Scotland. It was one of Europe's largest asset management companies, with £146 billion of funds under management as at 31 December 2013. These funds were invested across all major asset classes – including worldwide equities , property , bonds , multi-asset, multi-manager and cash. Scottish Widows Investment Partnership

140-617: A diverse range of specialist funds for a range of institutional clients, including large pensions, charities and local government in the UK, Europe and the US. In addition, Scottish Widows Investment Partnership managed life assurance , pension and investment funds for Scottish Widows which was part of its largest single client, Lloyds Banking Group. SWIP employed around 500 staff including more than 150 investment professionals. Asset management Theory of asset management primarily deals with

210-463: A faster rate than they are consumed". Solar power , wind power , hydroelectricity , geothermal energy, and biomass are widely agreed to be the main types of renewable energy. Renewable energy often displaces conventional fuels in four areas: electricity generation , hot water / space heating , transportation , and rural (off-grid) energy services. Although almost all forms of renewable energy cause much fewer carbon emissions than fossil fuels,

280-465: A fluctuating nature, such as wind power and solar power. In contrast, controllable renewable energy sources include dammed hydroelectricity , bioenergy , or geothermal power . Renewable energy systems have rapidly become more efficient and cheaper over the past 30 years. A large majority of worldwide newly installed electricity capacity is now renewable. Renewable energy sources, such as solar and wind power, have seen significant cost reductions over

350-437: A given time. Solar energy can only be captured during the day, and ideally in cloudless conditions. Wind power generation can vary significantly not only day-to-day, but even month-to-month. This poses a challenge when transitioning away from fossil fuels: energy demand will often be higher or lower than what renewables can provide. Both scenarios can cause electricity grids to become overloaded, leading to power outages . In

420-952: A large portion of the total, such as Kenya (43%) and Indonesia (5%). Technical advances may eventually make geothermal power more widely available. For example, enhanced geothermal systems involve drilling around 10 kilometres (6.2 mi) into the Earth, breaking apart hot rocks and extracting the heat using water. In theory, this type of geothermal energy extraction could be done anywhere on Earth. There are also other renewable energy technologies that are still under development, including enhanced geothermal systems , concentrated solar power , cellulosic ethanol , and marine energy . These technologies are not yet widely demonstrated or have limited commercialization. Some may have potential comparable to other renewable energy technologies, but still depend on further breakthroughs from research, development and engineering. Enhanced geothermal systems (EGS) are

490-638: A more energy-dense biofuel like ethanol. Wood is the most significant biomass energy source as of 2012 and is usually sourced from a trees cleared for silvicultural reasons or fire prevention . Municipal wood waste – for instance, construction materials or sawdust – is also often burned for energy. The biggest per-capita producers of wood-based bioenergy are heavily forested countries like Finland, Sweden, Estonia, Austria, and Denmark. Bioenergy can be environmentally destructive if old-growth forests are cleared to make way for crop production. In particular, demand for palm oil to produce biodiesel has contributed to

560-506: A new type of geothermal power which does not require natural hot water reservoirs or steam to generate power. Most of the underground heat within drilling reach is trapped in solid rocks, not in water. EGS technologies use hydraulic fracturing to break apart these rocks and release the heat they contain, which is then harvested by pumping water into the ground. The process is sometimes known as "hot dry rock" (HDR). Unlike conventional geothermal energy extraction, EGS may be feasible anywhere in

630-547: A purchase of newer hardware. Large companies such as Oracle , that license software to clients distinguish between the right to use and the right to receive maintenance/support. Renewable energy Renewable energy (or green energy ) is energy from renewable natural resources that are replenished on a human timescale . The most widely used renewable energy types are solar energy , wind power , and hydropower . Bioenergy and geothermal power are also significant in some countries. Some also consider nuclear power

700-409: A range of construction strategies and technologies that aim to optimize the distribution of solar heat in a building. Examples include solar chimneys , orienting a building to the sun, using construction materials that can store heat , and designing spaces that naturally circulate air . From 2020 to 2022, solar technology investments almost doubled from USD 162 billion to USD 308 billion, driven by

770-416: A renewable power source , although this is controversial. Renewable energy installations can be large or small and are suited for both urban and rural areas. Renewable energy is often deployed together with further electrification . This has several benefits: electricity can move heat and vehicles efficiently and is clean at the point of consumption. Variable renewable energy sources are those that have

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840-521: A structure of this sort is directly connected to local governance. Enterprise asset management (EAM) systems are asset information systems that support the management of an organization's assets. An EAM includes an asset registry (inventory of assets and their attributes) combined with a computerized maintenance management system (CMMS) and other modules (such as inventory or materials management). Assets that are geographically distributed, interconnected or networked, are often also represented through

910-702: A variety of environmental conditions and perform more efficiently allowing a greater proportion of photon energy to end up in the storage compounds, i.e., carbohydrates (rather than building and sustaining living cells). However, prominent research faces hurdles, Sun Catalytix a MIT spin-off stopped scaling up their prototype fuel-cell in 2012 because it offers few savings over other ways to make hydrogen from sunlight. Most new renewables are solar, followed by wind then hydro then bioenergy. Investment in renewables, especially solar, tends to be more effective in creating jobs than coal, gas or oil. Worldwide, renewables employ about 12 million people as of 2020, with solar PV being

980-456: Is thermal energy (heat) extracted from the Earth's crust . It originates from several different sources , of which the most significant is slow radioactive decay of minerals contained in the Earth's interior , as well as some leftover heat from the formation of the Earth . Some of the heat is generated near the Earth's surface in the crust, but some also flows from deep within the Earth from

1050-869: Is a growing specialist engineering discipline, with many international technical societies now established to advance knowledge in this area, including the Engineers Australia technical society of the Asset Management Council (AMC), the World Partners in Asset Management (WPiAM), Society for Maintenance and Reliability Professionals (SMRP), the Institute of Asset Management (IAM), the International Society of Engineering Asset Management (ISEAM), and

1120-471: Is a more economical means of long-term renewable energy storage, in terms of capital expenditures compared to pumped hydroelectric or batteries. Solar power produced around 1.3 terrawatt-hours (TWh) worldwide in 2022, representing 4.6% of the world's electricity. Almost all of this growth has happened since 2010. Solar energy can be harnessed anywhere that receives sunlight; however, the amount of solar energy that can be harnessed for electricity generation

1190-537: Is a technology for generating electricity by mixing fresh water and salty sea water in large power cells. Most marine energy harvesting technologies are still at low technology readiness levels and not used at large scales. Tidal energy is generally considered the most mature, but has not seen wide deployment. The world's largest tidal power station is on Sihwa Lake , South Korea, which produces around 550 gigawatt-hours of electricity per year. Earth emits roughly 10 W of infrared thermal radiation that flows toward

1260-682: Is a term synonymous with physical and infrastructure asset management, it is used to describe management of more complex physical assets which require the application of specialist asset management engineering methods over their life-cycles in order to maximize value for their owners, whilst keeping risk to an acceptable level. SAM is a sub-discipline of IT asset management . The International Organization for Standardization published its management system standard for asset management in 2014. The ISO 55000 series provides terminology, requirements, and guidance for implementing, maintaining and improving an effective asset management system. The key to forming

1330-419: Is about 800 times denser than air , even a slow flowing stream of water, or moderate sea swell , can yield considerable amounts of energy. Water can generate electricity with a conversion efficiency of about 90%, which is the highest rate in renewable energy. There are many forms of water energy: Much hydropower is flexible, thus complementing wind and solar. In 2021, the world renewable hydropower capacity

1400-525: Is common in Iceland, or to generate electricity. At smaller scales, geothermal power can be generated with geothermal heat pumps , which can extract heat from ground temperatures of under 30 °C (86 °F), allowing them to be used at relatively shallow depths of a few meters. Electricity generation requires large plants and ground temperatures of at least 150 °C (302 °F). In some countries, electricity produced from geothermal energy accounts for

1470-401: Is enough fuel for breeder reactors to satisfy the world's energy needs for 5 billion years at 1983's total energy consumption rate, thus making nuclear energy effectively a renewable energy. In addition to seawater the average crustal granite rocks contain significant quantities of uranium and thorium with which breeder reactors can supply abundant energy for the remaining lifespan of the sun on

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1540-518: Is influenced by weather conditions , geographic location and time of day. There are two mainstream ways of harnessing solar energy: solar thermal , which converts solar energy into heat; and photovoltaics (PV), which converts it into electricity. PV is far more widespread, accounting for around two thirds of the global solar energy capacity as of 2022. It is also growing at a much faster rate, with 170 GW newly installed capacity in 2021, compared to 25 GW of solar thermal. Passive solar refers to

1610-460: Is more valuable than VRE countries with large hydroelectric developments such as Canada and Norway are spending billions to expand their grids to trade with neighboring countries having limited hydro. Biomass is biological material derived from living, or recently living organisms. Most commonly, it refers to plants or plant-derived materials. As an energy source, biomass can either be used directly via combustion to produce heat, or converted to

1680-596: Is not possible to use or store excess electricity. Electrical energy storage is a collection of methods used to store electrical energy. Electrical energy is stored during times when production (especially from intermittent sources such as wind power , tidal power , solar power ) exceeds consumption, and returned to the grid when production falls below consumption. Pumped-storage hydroelectricity accounts for more than 85% of all grid power storage . Batteries are increasingly being deployed for storage and grid ancillary services and for domestic storage. Green hydrogen

1750-520: Is often associated with unsustainable deforestation . As part of the global effort to limit climate change , most countries have committed to net zero greenhouse gas emissions . In practice, this means phasing out fossil fuels and replacing them with low-emissions energy sources. This much needed process, coined as "low-carbon substitutions" in contrast to other transition processes including energy additions, needs to be accelerated multiple times in order to successfully mitigating climate change. At

1820-409: Is part of a financial company that employs experts who manage money and handle the investments of clients. This is done either actively or passively. Physical and Infrastructure asset management is the combination of management, financial, economic, engineering, and other practices applied to physical assets to provide the best value level of service for the costs involved. It includes the management of

1890-477: Is that the heated water can be stored until it is needed, eliminating the need for a separate energy storage system. Solar thermal power can also be converted to electricity by using the steam generated from the heated water to drive a turbine connected to a generator. However, because generating electricity this way is much more expensive than photovoltaic power plants, there are very few in use today. Humans have harnessed wind energy since at least 3500 BC. Until

1960-662: Is to slow and eventually stop climate change , which is widely agreed to be caused mostly by greenhouse gas emissions . In general, renewable energy sources cause much lower emissions than fossil fuels. The International Energy Agency estimates that to achieve net zero emissions by 2050, 90% of global electricity generation will need to be produced from renewable sources. Renewables also cause much less air pollution than fossil fuels, improving public health, and are less noisy . The deployment of renewable energy still faces obstacles, especially fossil fuel subsidies , lobbying by incumbent power providers, and local opposition to

2030-463: The 2023 United Nations Climate Change Conference , around three-quarters of the world's countries set a goal of tripling renewable energy capacity by 2030. The European Union aims to generate 40% of its electricity from renewables by the same year. Renewable energy is more evenly distributed around the world than fossil fuels, which are concentrated in a limited number of countries. It also brings health benefits by reducing air pollution caused by

2100-494: The NASA Office of Science and Technology Policy examined the concept and concluded that with current and near-future technologies it would be economically uncompetitive. Collection of static electricity charges from water droplets on metal surfaces is an experimental technology that would be especially useful in low-income countries with relative air humidity over 60%. Breeder reactors could, in principle, depending on

2170-574: The mantle and core . Geothermal energy extraction is viable mostly in countries located on tectonic plate edges, where the Earth's hot mantle is more exposed. As of 2023, the United States has by far the most geothermal capacity (2.7 GW, or less than 0.2% of the country's total energy capacity ), followed by Indonesia and the Philippines. Global capacity in 2022 was 15 GW. Geothermal energy can be either used directly to heat homes, as

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2240-549: The periodic matter of improving, maintaining or in other circumstances assuring the economic and capital value of an asset over time. The term is commonly used in engineering, the business world, and public infrastructure sectors to ensure a coordinated approach to the optimization of costs, risks, service/performance, and sustainability. The term has traditionally been used in the financial sector to describe people and companies who manage investments on behalf of others. Those include, for example, investment managers who manage

2310-400: The 20th century, it was primarily used to power ships, windmills and water pumps. Today, the vast majority of wind power is used to generate electricity using wind turbines. Modern utility-scale wind turbines range from around 600 kW to 9 MW of rated power. The power available from the wind is a function of the cube of the wind speed, so as wind speed increases, power output increases up to

2380-845: The Global Forum on Maintenance and Asset Management (GFMAM). Engineering asset management is a more recent term that is used to describe the management of complex physical assets, a specific engineering practice that is concerned with optimizing assets, in the context of the organizations goals and objectives, through using multidiscipline engineering methodologies, and Terotechnology (which includes management, engineering, and financial expertise), to balance cost, risk, and performance. Engineering asset management includes multiple engineering disciplines, including but not limited to maintenance engineering , systems engineering , reliability engineering , process safety management , industrial engineering , and risk analysis . Engineering asset management

2450-463: The assets of a pension fund . The ISO 55000 series of standards, developed by ISO TC 251 , are the international standards for Asset Management. ISO 55000 provides an introduction and requirements specification for a management system for asset management. The ISO 55000 standard defines an asset as an "item, thing or entity that has potential or actual value to an organization". ISO 55001 specifies requirements for an asset management system within

2520-446: The burning of fossil fuels. The potential worldwide savings in health care costs have been estimated at trillions of dollars annually. The two most important forms of renewable energy, solar and wind, are intermittent energy sources : they are not available constantly, resulting in lower capacity factors . In contrast, fossil fuel power plants are usually able to produce precisely the amount of energy an electricity grid requires at

2590-778: The cold outer space. Solar energy hits the surface and atmosphere of the earth and produces heat. Using various theorized devices like emissive energy harvester (EEH) or thermoradiative diode, this energy flow can be converted into electricity. In theory, this technology can be used during nighttime. Producing liquid fuels from oil-rich (fat-rich) varieties of algae is an ongoing research topic. Various microalgae grown in open or closed systems are being tried including some systems that can be set up in brownfield and desert lands. There have been numerous proposals for space-based solar power , in which very large satellites with photovoltaic panels would be equipped with microwave transmitters to beam power back to terrestrial receivers. A 2024 study by

2660-518: The completion of their acquisition of SWIP from Lloyds Banking Group in an RNS to the London Stock Exchange. Mr Buckley left SWIP on completion of the acquisition. The company used the trademarks "SWIP" and "Scottish Widows" under temporary licence from Lloyds Banking Group until late 2014, when it merged with its parent. SWIP promoted a range of mutual funds through financial advisers and investment platforms . SWIP also managed

2730-467: The constraints upon such licenses, e.g. a period. If, for example, one licenses software, often the license is for a given period. Adobe and Microsoft both offer time-based software licenses. In both the corporate and consumer worlds, there is a distinction between software ownership and the updating of software. One may own a version of the software, but not newer versions of the software. Cellular phones are often not updated by vendors, in an attempt to force

2800-404: The context of the organization, and ISO 55002 gives guidelines for the application of an asset management system, in accordance with the requirements of ISO 55001. The most frequent usage of the term portfolio manager (asset manager) refers to investment management , the sector of the financial services industry that manages investment funds and segregated client accounts . Asset management

2870-554: The crops used to produce bioethanol and biodiesel are grown specifically for this purpose, although used cooking oil accounted for 14% of the oil used to produce biodiesel as of 2015. The biomass used to produce biofuels varies by region. Maize is the major feedstock in the United States, while sugarcane dominates in Brazil. In the European Union, where biodiesel is more common than bioethanol, rapeseed oil and palm oil are

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2940-458: The definition of enterprise asset management (EAM) by incorporating the management of all things of value to a municipal jurisdiction and its citizens' expectations. An example in which public asset management is used is land-use development and planning. Increasingly both consumers and organizations use assets, e.g. software, music, books, etc. where the user's rights are constrained by a license agreement. An asset management system would identify

3010-412: The deforestation of tropical rainforests in Brazil and Indonesia. In addition, burning biomass still produces carbon emissions, although much less than fossil fuels (39 grams of CO 2 per megajoule of energy, compared to 75 g/MJ for fossil fuels). Some biomass sources are unsustainable at current rates of exploitation (as of 2017). Biofuels are primarily used in transportation, providing 3.5% of

3080-428: The entire life cycle—including design, construction, commissioning, operating, maintaining, repairing, modifying, replacing, and decommissioning/disposal—of physical and infrastructure assets. Operation and maintenance of assets in a constrained budget environment require a prioritization scheme. As a way of illustration, the recent development of renewable energy has seen the rise of effective asset managers involved in

3150-585: The fastest-growing renewable energy technology. It is cheap, low-maintenance and scalable; adding to an existing PV installation as demanded arises is simple. Its main disadvantage is its poor performance in cloudy weather. PV systems range from small, residential and commercial rooftop or building integrated installations, to large utility-scale photovoltaic power station . A household's solar panels can either be used for just that household or, if connected to an electrical grid, can be aggregated with millions of others. The first utility-scale solar power plant

3220-548: The fuel cycle employed, extract almost all of the energy contained in uranium or thorium , decreasing fuel requirements by a factor of 100 compared to widely used once-through light water reactors , which extract less than 1% of the energy in the actinide metal (uranium or thorium) mined from the earth. The high fuel-efficiency of breeder reactors could greatly reduce concerns about fuel supply, energy used in mining, and storage of radioactive waste . With seawater uranium extraction (currently too expensive to be economical), there

3290-744: The horizontal axis units currently in use. As offshore wind speeds average ~90% greater than that of land, offshore resources can contribute substantially more energy than land-stationed turbines. Investments in wind technologies reached USD 161 billion in 2020, with onshore wind dominating at 80% of total investments from 2013 to 2022. Offshore wind investments nearly doubled to USD 41 billion between 2019 and 2020, primarily due to policy incentives in China and expansion in Europe. Global wind capacity increased by 557 GW between 2013 and 2021, with capacity additions increasing by an average of 19% each year. Since water

3360-408: The main feedstocks. China, although it produces comparatively much less biofuel, uses mostly corn and wheat. In many countries, biofuels are either subsidized or mandated to be included in fuel mixtures . There are many other sources of bioenergy that are more niche, or not yet viable at large scales. For instance, bioethanol could be produced from the cellulosic parts of crops, rather than only

3430-504: The main sequence of stellar evolution. Artificial photosynthesis uses techniques including nanotechnology to store solar electromagnetic energy in chemical bonds by splitting water to produce hydrogen and then using carbon dioxide to make methanol. Researchers in this field strived to design molecular mimics of photosynthesis that use a wider region of the solar spectrum, employ catalytic systems made from abundant, inexpensive materials that are robust, readily repaired, non-toxic, stable in

3500-491: The management of solar systems (solar parks, rooftops, and windmills). These teams often collaborate with financial asset managers in order to offer turnkey solutions to investors. Infrastructure asset management became very important in most of the developed countries in the 21st century, since their infrastructure network was almost completed in the 20th century and they have to manage to operate and maintain them cost-effectively. Physical, or Infrastructure Asset Management

3570-408: The maximum output for the particular turbine. Areas where winds are stronger and more constant, such as offshore and high-altitude sites, are preferred locations for wind farms. Wind-generated electricity met nearly 4% of global electricity demand in 2015, with nearly 63 GW of new wind power capacity installed. Wind energy was the leading source of new capacity in Europe, the US and Canada, and

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3640-472: The medium-term, this variability may require keeping some gas-fired power plants or other dispatchable generation on standby until there is enough energy storage, demand response , grid improvement, and/or baseload power from non-intermittent sources. In the long-term, energy storage is an important way of dealing with intermittency. Using diversified renewable energy sources and smart grids can also help flatten supply and demand. Sector coupling of

3710-788: The past decade, making them more competitive with traditional fossil fuels. In most countries, photovoltaic solar or onshore wind are the cheapest new-build electricity. From 2011 to 2021, renewable energy grew from 20% to 28% of global electricity supply. Power from the sun and wind accounted for most of this increase, growing from a combined 2% to 10%. Use of fossil energy shrank from 68% to 62%. In 2022, renewables accounted for 30% of global electricity generation and are projected to reach over 42% by 2028. Many countries already have renewables contributing more than 20% of their total energy supply, with some generating over half or even all their electricity from renewable sources. The main motivation to replace fossil fuels with renewable energy sources

3780-571: The power generation sector with other sectors may increase flexibility: for example the transport sector can be coupled by charging electric vehicles and sending electricity from vehicle to grid . Similarly the industry sector can be coupled by hydrogen produced by electrolysis, and the buildings sector by thermal energy storage for space heating and cooling. Building overcapacity for wind and solar generation can help ensure sufficient electricity production even during poor weather. In optimal weather, it may be necessary to curtail energy generation if it

3850-488: The primary challenges for new developments. It is popular to repower old dams thereby increasing their efficiency and capacity as well as quicker responsiveness on the grid. Where circumstances permit existing dams such as the Russell Dam built in 1985 may be updated with "pump back" facilities for pumped-storage which is useful for peak loads or to support intermittent wind and solar power. Because dispatchable power

3920-585: The second largest in China. In Denmark, wind energy met more than 40% of its electricity demand while Ireland, Portugal and Spain each met nearly 20%. Globally, the long-term technical potential of wind energy is believed to be five times total current global energy production, or 40 times current electricity demand, assuming all practical barriers needed were overcome. This would require wind turbines to be installed over large areas, particularly in areas of higher wind resources, such as offshore, and likely also industrial use of new types of VAWT turbines in addition to

3990-527: The sector's increasing maturity and cost reductions, particularly in solar photovoltaic (PV), which accounted for 90% of total investments. China and the United States were the main recipients, collectively making up about half of all solar investments since 2013. Despite reductions in Japan and India due to policy changes and COVID-19 , growth in China, the United States, and a significant increase from Vietnam's feed-in tariff program offset these declines. Globally,

4060-418: The seed as is common today. Sweet sorghum may be a promising alternative source of bioethanol, due to its tolerance of a wide range of climates. Cow dung can be converted into methane. There is also a great deal of research involving algal fuel , which is attractive because algae is a non-food resource, grows around 20 times faster than most food crops, and can be grown almost anywhere. Geothermal energy

4130-451: The solar sector added 714 gigawatts (GW) of solar PV and concentrated solar power (CSP) capacity between 2013 and 2021, with a notable rise in large-scale solar heating installations in 2021, especially in China, Europe, Turkey, and Mexico. A photovoltaic system , consisting of solar cells assembled into panels , converts light into electrical direct current via the photoelectric effect . PV has several advantages that make it by far

4200-468: The technology employing the most at almost 4 million. However, as of February 2024, the world's supply of workforce for solar energy is lagging greatly behind demand as universities worldwide still produce more workforce for fossil fuels than for renewable energy industries. In 2021, China accounted for almost half of the global increase in renewable electricity. There are 3,146 gigawatts installed in 135 countries, while 156 countries have laws regulating

4270-407: The ten biggest solar power stations are in China, including the biggest, Golmud Solar Park in China. Unlike photovoltaic cells that convert sunlight directly into electricity, solar thermal systems convert it into heat. They use mirrors or lenses to concentrate sunlight onto a receiver, which in turn heats a water reservoir. The heated water can then be used in homes. The advantage of solar thermal

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4340-501: The term is not synonymous with low-carbon energy . Some non-renewable sources of energy, such as nuclear power , generate almost no emissions, while some renewable energy sources can be very carbon-intensive, such as the burning of biomass if it is not offset by planting new plants. Renewable energy is also distinct from sustainable energy , a more abstract concept that seeks to group energy sources based on their overall permanent impact on future generations of humans. For example, biomass

4410-653: The typical physical assets or infrastructure assets, the soft assets might include permits, licenses, brands, patents, right-of-ways, and other entitlements or valued items. The EAM system is only one of the 'enablers' of good asset management. Asset managers need to make informed decisions to fulfill their organizational goals, this requires good asset information but also leadership, clarity of strategic priorities, competencies, inter-departmental collaboration and communications, workforce, and supply chain engagement, risk and change management systems, performance monitoring, and continual improvement. Public asset management expands

4480-403: The use of geographic information systems (GIS) . GIS-centric asset registry standardizes data and improves interoperability, providing users the capability to reuse, coordinate, and share information efficiently and effectively. A GIS platform combined with information of both the "hard" and "soft" assets helps to remove the traditional silos of departmental functions. While the hard assets are

4550-484: The use of land for renewable installations. Like all mining, the extraction of minerals required for many renewable energy technologies also results in environmental damage . In addition, although most renewable energy sources are sustainable , some are not. Renewable energy is usually understood as energy harnessed from continuously occurring natural phenomena. The International Energy Agency defines it as "energy derived from natural processes that are replenished at

4620-484: The world's transport energy demand in 2022, up from 2.7% in 2010. Biojet is expected to be important for short-term reduction of carbon dioxide emissions from long-haul flights. Aside from wood, the major sources of bioenergy are bioethanol and biodiesel . Bioethanol is usually produced by fermenting the sugar components of crops like sugarcane and maize , while biodiesel is mostly made from oils extracted from plants, such as soybean oil and corn oil . Most of

4690-502: The world, depending on the cost of drilling. EGS projects have so far primarily been limited to demonstration plants , as the technology is capital-intensive due to the high cost of drilling. Marine energy (also sometimes referred to as ocean energy) is the energy carried by ocean waves , tides , salinity , and ocean temperature differences . Technologies to harness the energy of moving water include wave power , marine current power , and tidal power . Reverse electrodialysis (RED)

4760-455: Was 1,360 GW. Only a third of the world's estimated hydroelectric potential of 14,000 TWh/year has been developed. New hydropower projects face opposition from local communities due to their large impact, including relocation of communities and flooding of wildlife habitats and farming land. High cost and lead times from permission process, including environmental and risk assessments, with lack of environmental and social acceptance are therefore

4830-522: Was built in 1982 in Hesperia, California by ARCO . The plant was not profitable and was sold eight years later. However, over the following decades, PV cells became significantly more efficient and cheaper. As a result, PV adoption has grown exponentially since 2010. Global capacity increased from 230 GW at the end of 2015 to 890 GW in 2021. PV grew fastest in China between 2016 and 2021, adding 560 GW, more than all advanced economies combined. Four of

4900-731: Was created in 2000 following the merger of two well-established asset management companies, Scottish Widows Investment Management and Hill Samuel Asset Management . SWIP came into being under the leadership of Orie Dudley who resigned later that year to move to Northern Trust . He was replaced by Bill Main, formerly Deputy Chief Executive at Scottish Widows. After Bill Main retired in 2003, Chris Phillips became CEO at SWIP until he announced his intention to move to Morley Fund Management in 2007. Dean Buckley, joined SWIP as Managing Director in January 2008 following 12 years with HSBC Investments. On 1 April 2014, Aberdeen Asset Management PLC announced

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