Electric cars, AI and fossil fuels
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Bloomberg New Energy Finance
Week in Review
A weekly selection from our research and news teams
All forecasts signal accelerating demand for electric cars
Forecasts of how many electric vehicles (EVs) will be joining the global fleet are all moving in the same direction — up. Exxon Mobil Corp. raised its 2040 forecast to 100 million EVs from 64.8 million the previous year. Last year BP predicted 71.4 million by 2035, and now it sees 100 million. The International Energy Agency more than doubled its base-case EV forecast for 2030. OPEC outdid them all. In 2016, the group predicted 266 million EVs in 2040, almost six times the year-earlier estimate of 46 million. Read more.
From our partners

Companies converge on the Internet of Things opportunity
  • Inexpensive data-sharing makes improved efficiency possible
  • Software, hardware firms interested in fragmented industry
Companies mentioning the IoT in filings
Source: Bloomberg New Energy Finance
Note: References refers to mentions of the phrase ‘Internet of Things’ or ‘IoT’ in company filings and publicly released documents.
Hype surrounding the Internet of Things, a term for communication-enabled hardware networks, continues to grow. More than 20 times as many companies mentioned the IoT in filings in 2016 as in 2012, according to a Bloomberg New Energy Finance report. The IoT is the natural purview of technology companies, as it relies on low-cost computing, advanced analytics and widespread network coverage. International Business Machines Corp., Microsoft Corp. and Amazon Web Services Inc. have IoT departments. Industrials like General Electric Co. and Siemens AG are interested in leveraging deployed hardware and data libraries to leapfrog tech companies and install proprietary platforms. View on web and share with a colleague.
From our partners

Microsoft uses AI to grow its smart grid, EV charging business
Microsoft is working with Norwegian utility Agder Energi to fine-tune the supply-and-demand balance on electricity grids using AI technology, according to Egbert Schroeer, Microsoft’s managing director for the process manufacturing and resources industries. “We want to make the power grid more efficient and predictable,” Schroeer said in an interview with Bloomberg New Energy Finance. “The more Agder expands into distributed generation, like rooftop solar, batteries, smart homes and facilities, the (Azure) system can help provide support back to the grid at times of high demand.” Read more.
From our partners

The fossil fuels project that pits Trump’s base against itself
The $3.8 billion project in Lake Charles, Louisiana, would take waste from oil refining and turn it into synthetic natural gas while capturing most of the pollution emitted. Those products would be transformed into high-value chemicals like methanol and hydrogen. Carbon dioxide, the greenhouse gas to blame for global warming, would be injected into the Earth to stimulate oil production.

For the promoters, the project could spur 1,000 jobs, use General Electric Co.-licensed equipment and showcase cutting-edge machinery to help decarbonize oil. The catch: the technology isn’t broadly proven, so banks won’t yet finance it. That means there are few sources of project debt. The most obvious lender would be a U.S. Energy Department program that some Republicans are intent on neutering. Read more.
From BNEF

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