Environmental risk mitigation coaxing a market in the battery and energy supply and storage industry

ENVIRONMENTAL RISK MITIGATION Coaxing a Market in the Battery and Energy Supply and Storage Industry BARBARA WEISS & MICHIYO OBI Environmental Risk Mitigation Barbara Weiss • Michiyo Obi Environmental Risk Mitigation Coaxing a Market in the Battery and Energy Supply and Storage Industry Barbara Weiss St Petersburg Institute of International Political Economy Florida, USA Michiyo Obi Nanzan University Nagoya, Aichi, Japan ISBN 978-3-319-33956-6 ISBN 978-3-319-33957-3 DOI 10.1007/978-3-319-33957-3 (eBook) Library of Congress Control Number: 2016954973 © The Editor(s) (if applicable) and The Author(s) 2016 This work is subject to copyright All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed The use of general descriptive names, registered names, trademarks, service marks, etc in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made Cover illustration: © andrea crisante / Alamy Stock Photo Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Springer International Publishing AG Switzerland Contents Introduction Environmental Risk and Sustainability Economic Growth, Technological Development, and Environmental Performance 33 Decarbonization and Clean Energy Technology Research and Development 47 Climate Change Mitigation and Clean Energy Technology Policies 75 Clean Energy Technology: Investment and Investment Financing in Renewable Energy, Batteries, Energy Supply and Storage 107 Battery and Energy Supply and Storage Technology Frontier 137 v vi Contents Coaxing a Market: EnvironmentalSocietal-Financial Sustainability Interfaces 155 Conclusion 199 Appendix 211 Appendix 217 References 219 Index 255 List of Figures Fig 2.1 Fig 4.1 Fig 4.2 Fig 4.3 Fig 4.4 Fig 4.5 Fig 6.1 Fig 7.1 Fig 8.1 Fig 8.2 Fig 8.3 Fig 8.4 Fig 8.5 Environmental risk index Climate change mitigation (CCM) technology patents—2010–2013 Emerging technologies—Top patent holders’ country of origin Concurrent technological development–ICT-and environment-related Research and development (R&D) distribution—2013 (unless otherwise noted) Business enterprise research and development (BERD) and government-funded BERD—2013 Clean energy financing continuum Battery and energy supply and storage (B|ESST) Frontier—Research, development and market application Environmental risk mitigation—“Gearing up” the integrated system The green economy Environmental risk mitigation-Environmentalsocietal-economic-capital sustainability interface Environmental risk mitigation—Case|Interface 1-CET & B|ESST acceleration New technology clearing house—Mutually beneficial architecture 12 48 51 54 58 66 110 141 157 160 170 173 176 vii viii List of Figures Fig 8.6 Environmental risk mitigation—Case|Interface 2-Utilities industry deregulation Utility market liberalization in Japan—2000–2016 Environmental risk mitigation—Case|Interface 3-Capital & financial market development Fig 8.7 Fig 8.8 179 186 189 List of Tables Table 3.1 Table 3.2 Table 3.3 Table 3.4 Table 4.1 Table 4.2 Table 5.1 Table 5.2 Economic size, technological development and trade—World rank and share Research & development, patents, and technological development—World rank and share Renewable Energy (RE) indicators—2012 Environmental performance indicators—2010 (unless otherwise noted) R&D location and business expenditures on R&D  (BERD)—2013 (unless otherwise noted) Top 20 graphene applicants—5-country share—Pre- and post-2010 Natural resource rents and adjusted savings (Depletion and emissions damage)—2013 Renewable energy (RE) indicators—Policy and financial incentives 34 36 42 43 61 74 79 102 ix 266 Index Geothermal, 17, 19, 20, 40, 41, 48, 70, 127, 128, 137, 149, 161 German Energy Agency (Deutsche Energie-Agentur GmbH (dena)), 94, 174 Germany, 6, 12, 15, 16, 18–20, 23, 25, 26, 28, 31, 33, 36, 37, 39–43, 45, 47, 48, 52, 53, 55, 57, 58, 62, 63, 65–8, 72, 76, 79, 90–4, 96, 100, 101, 103, 104, 115, 117, 123–8, 134, 135, 146, 148–50, 174, 184–6, 205 Gigafactory, 151, 202 Glass, 14, 24, 153, 167 Global economic crisis, 10, 70, 117, 123, 134 Global Energy Efficiency and Renewable Energy Fund (GEEREF), 121 Global Environment Facility (GEF) (World Bank), 29 Global financial crisis, 113, 114, 131, 193 Globally systemically important banks (G-SIBs) (BIS), 114, 115 Global system, 164, 192, 208 Goldman Sachs, 115 Go-to-market channels, 149, 162, 170 Government budget allocations, 112 Government expenditures on R&D (GERD), 60, 65 Government-funded BERD, 66 Government research institute, 7, 142, 146 Green bonds, 116, 117, 120, 129, 131, 134, 195 Greencoat UK Wind, 119, 120 Green economy, 5, 8, 36, 49, 50, 82, 159–63, 168, 169, 178, 200, 201, 207, 208 Green Growth Bonds (World Bank), 117, 122 Green Growth Strategy (METI) (Japan), 97 Greenhouse gasses (GHGs), 6, 10, 10n1, 13, 21, 25, 26, 28, 30, 32, 76, 91, 94, 95, 156 Green New Deal Fund (Japan), 93, 188 Grid-connected, 56, 69, 71 Grid infrastructure, 86, 108 Grid-scale, 40, 42, 53, 56, 91, 97, 111, 128, 137–9, 144, 145, 147, 148, 150–3, 161n1, 174, 175, 178, 186 Grid-Scale Rampable Intermittent Dispatchable Storage (GRIDS) (US DOE), 97 Gross domestic product (GDP), 13, 14, 22, 23, 33, 35–7, 43–5, 49, 51, 57, 61, 65–7, 70, 76, 78–80, 87, 163, 215 Gross-fixed capital formation, 52, 78 GS Yuasa International, 152 Gulf Cooperation Council (GCC), 124 Gyeonggi Green Energy, 128 H Handheld electronics, 138, 144, 146 Hawaiian Electric Industries (US), 71 Hawaii-Okinawa Partnership on Clean and Efficient Energy Development and Deployment, 64 Index Hawaii State Energy Office (US), 71 Hazards, 156, 196 Heating and cooling, 25, 38, 39, 49, 50, 70, 103, 108, 123, 167, 203 Heavy duty vehicle (HDV), 1, 21 Hedging, 192, 194 High dividend yield companies (Yieldcos), 112, 195 High-efficiency vehicle (HEV), 53, 56 High Energy Advanced Thermal Storage (HEATS) (US DOE), 98 Higher education, 61, 65, 70, 147 High net worth (HNW) investors, 113, 174 Hiranuma Plan (Japan), 88 Hitachi, 63 Honda, 64 Hong Kong and Shanghai Banking Corporation (HSBC), 115, 116 Horizon 2020 (EU), 82 Human capital, 5, 7, 61, 169, 171, 204, 208 Human cost, 104, 158, 159 Human development index (HDI), 169 Human security, 162, 171 Human settlement, 84, 88, 168, 196 Human system, 156, 157, 199, 213 Human well-being, 159, 160, 207 Hydroelectric, 20, 31, 40, 91, 132 Hydrofluorocarbons (HFCs), 21, 24, 25 Hydrogen-bromine energy storage system, 145 Hydrogen fuel cells, 97 Hydrogen storage, 39, 69 267 Hydropower, 19, 20, 40, 41, 56, 100, 108 Hyogo Framework for Action 2005–2015, 196 I Iberdrola, 184 Ibereólica, 109 Idinvest Partners, 122 Illiquidity, 107 Inadequacies, 107, 175 Independent System Operator (ISO) (US), 182, 183 India, 19, 23, 25, 28, 71, 77, 86, 109, 121, 130, 134, 182 Indian Institute of Technology, 71 Indian Oil Corporation Limited (IOLC), 71 Indonesia, 127 Industrial materials, 14, 25, 124 Industrial processes, 21, 22, 24, 26, 84, 88, 211 Industrial production, 14, 18, 84, 113, 147, 148, 178 Industry, 4, 5, 7, 13, 14, 16–18, 20, 21, 24–6, 32, 36, 38–40, 42, 49, 50, 53, 56, 57, 62, 63, 65, 67, 69–72, 74, 82–6, 89, 90, 95–7, 99, 100, 102, 103, 111, 115, 116, 118–20, 123, 124, 128, 132–5, 137–40, 142–4, 146–52, 160, 161, 167, 169, 171–5, 178–81, 183–7, 191, 193–5, 197, 200, 203–5, 207 Inertia, 86, 214 Information and awareness barriers, 83, 84 268 Index Information and communication technology (ICT), 7, 13, 35, 37, 49–54, 56, 57, 62, 65, 71, 72, 132, 138, 153, 167, 174 Information symmetry, 6, 171, 175 Infrastructure, 16–18, 28, 39, 49, 62, 82, 84, 86, 88, 90, 93, 96, 107, 108, 112, 113, 119, 121, 122, 128–32, 156, 161, 163, 164, 166, 167, 169, 171, 173, 179, 180, 191, 194, 208, 213 Initial public offering (IPO), 72, 73, 111, 117, 119, 120, 122 Innovation, 3, 4, 6, 35, 38, 48, 49, 52, 57, 59, 60, 63, 65, 68, 69, 71, 75, 80, 82, 84, 88, 89, 93, 95, 96, 99, 118, 134, 137, 139, 140, 142, 145, 146, 149, 155, 160, 163, 165, 175, 177, 188, 189, 201–9, 215 Innovation application trajectory, 4, 140, 142, 149, 155, 201, 202 Innovation chain, 88 Inpex, 127 Institutional inertia, 86 Institutional investors, 113, 117, 119–29, 131, 132, 162, 193, 195, 207 Institutional rigidities, 86 Insurance companies, 113, 120, 162 Insurance coverage, 196, 197 Integrated system, 8, 11, 157, 158, 162, 168, 170, 204, 208 Integriertes Energie und Klimaprogramm (IEKP) (Integrative Energy and Climate Program) (Germany), 94 Intellectual property (IP), 34, 35, 72, 74, 175, 177 Intellectual property right (IPR), 72, 177 Intended Nationally Determined Contributions (INDCs) (UNFCCC), 76 Intergovernmental organizations (IGOs), 116 Intergovernmental Panel on Climate Change (IPCC), 4, 9, 10, 10n1, 11, 13, 14, 17–19, 21–5, 28, 31, 33, 36, 38–41, 44, 49, 50, 55, 56, 68–70, 75, 76, 78, 80, 81, 83–9, 101, 104, 107, 108, 123, 138, 139, 147, 155–7, 159, 161, 163, 166–8, 170, 192–4, 211–15 Internal combustion engines (ICEs), 21 Internal financing/funding, 123 International collaboration, 38, 63, 65, 172, 175 International competition, 3, 38, 201, 205 International cooperation, 115, 163, 173 International Energy Agency (IEA) (OECD), 23, 27, 35, 38, 42, 47–9, 55, 68, 81, 86, 91, 113–15, 117, 130–2, 163, 169 Index International Financial Corporation (IFC) (World Bank), 114, 117 Internet-of-things (IOT), 35, 144, 146, 147 Invention, 38, 65, 73, 84, 86, 155 Investment, 4, 5, 15, 16, 39, 42, 49, 51, 52, 69, 78, 79, 82, 87, 89, 90, 95, 98, 103, 104, 107–35, 137, 138, 149, 159–65, 167–9, 171, 173, 175, 178, 180, 181, 184, 185, 189–92, 194, 196, 200, 201, 204, 206, 207, 215 Investment banks, 112, 114, 117, 121 Investment financing, 107–35, 137, 161, 163, 171, 190, 191, 196, 206 Investment financing continuum, 130, 137, 161, 171 Investment financing vehicles, 206 Investment tax credit (ITC), 103, 104 Investor confidence, 131 Investors, 37, 90, 104, 107, 111–14, 116–29, 131–3, 162, 165, 168, 174, 177, 190, 191, 193, 195, 206, 207 Iron, 14, 62, 139, 149 Italy, 18, 40, 65, 131, 183 Itochu, 127 J Japan, 2, 6, 12, 15–21, 23, 25, 26, 29–31, 33, 35–9, 41–3, 45, 47, 48, 52, 53, 55, 57–68, 70–3, 76, 77, 79, 81, 82, 87–93, 96–100, 103, 115, 269 121, 123–7, 134, 135, 146, 148–50, 152, 172, 185–8, 201, 202, 205 Japan Bank for International Cooperation (JBIC), 115 Johnson Controls, 60, 121 Joint Center for Energy Storage Research (JCESR) (US DOE), 59, 60, 98, 99, 147, 149 K Kleiner Perkins Caufield & Byers, 125 Kokam, 124 Korea (Republic of ), 48 Korea Advanced Institute of Science and Technology (KAIST), 93 Korea Development Bank (KDB), 115 Kreditanstalt für Wiederaufbau (KfW) (Reconstruction Credit Institute) (Germany), 103 Kyoto Protocol (UNFCCC), 77 Kyushu Power, 127 L Land rights, 111 Land risk, 28, 30, 31, 158 Land use and land use change and forestry (LULUCF), 26 Land use change (LUC), 21, 26–8, 166 LeEco (Formerly Letv), 151 270 Index Levelized cost of electricty (LCOE), 91, 103, 110, 130, 178, 180, 181 Levelized cost of technology (LCOT), 6, 166 LG Chemicals, 128, 142, 150 Light duty vehicles (LDVs), 20, 69 Limited partnerships, 191 Linear Fresnel systems, 19 Liquefied Air, 17, 92 Liquefied natural gas (LNG), 17, 92 Liquidity, 107, 113, 114 Liquid Metal battery, Listed funds, 112 Lithium-air battery, 100 Lithium Energy and Power GmbH, 151, 152 Lithium-ion battery (LiB), 2, 53, 57, 60, 62, 71, 73, 127, 130, 138, 139, 142–5, 147, 149–51 Lithium Sulfur battery, 64, 100, 151 Livable communities, 6, 158, 171, 189, 205 Loan financing, 114 London Array, 125 Longevity, 189 Long-lived infrastructure, 86 Long-term investors, 133, 162 Low-carbon development, 44 Low-interest loans, 89 M 3M, 142 Magnetic fields, 143, 148 Magnetic induction, 56, 143, 145, 147, 148 Magritte Group (EU), 183 Major Economies Forum (MEF), 80 Manufacturing, 6, 24–6, 31, 34, 35, 49, 61–3, 68, 69, 85, 88, 91, 98, 99, 109, 111–13, 116, 121, 126, 149, 153, 171, 174, 175, 177, 201, 208 Manufacturing scale-up stage, 109, 111, 116, 149, 175, 177 Marine current, 137 Marine Energy Array Development Fund (Scotland), 120 Marine Renewables Commercialisation Fund (MRCF) (Scotland), 120 Market access, 162 Market application, 141, 142, 144, 146, 172, 178, 201 Market design, 7, 75, 134, 140 Market development, 6, 7, 88, 89, 171, 172, 179, 189, 190, 201, 205 Market entry, 162, 179 Market failure, 83–4, 86 Market forces, 155, 162, 203 Market formation, 8, 36 Market making, 114–16, 131, 159 Market rationale, 155, 167, 170, 175, 178 Market structure, 3, 4, 6, 8, 131, 133, 160, 200, 209 Market sustainability, 4–8, 29, 36, 83, 104, 112, 130, 155–97, 199, 200, 202, 205, 208, 209 Max Planck Institute, 60 Mechanical vibrations, 143, 148 Index Medco Power, 127 Medical equipment, 51, 144 Mergers and acquisitions (M&As), 109, 119, 120, 125 Methane (CH4), 21, 24, 25 MGM Sustainable Energy Fund in Central American and the Caribbean, 121 Micro-battery, 144, 147, 148, 153 Micro-device, 144 Micro-finance, 196 Micro-grid, 147, 148 Micro-grid utilities, 147 Microinsurance, 196 Micro-region, 196 Mini-grid, 39, 57, 111 Ministry of Economy, Trade and Industry (METI) (Japan), 81, 88, 92, 93, 97, 187, 188 Ministry of Environment (Germany), 103, 188 Ministry of Science and Technology (MOST) (China), 64 Minnesota (US), 92 Mitsubishi Corporation, 152 Mobile, 53, 55, 56, 74, 97, 138, 141, 144, 146, 147, 151–3, 167, 174, 200 Mobility, 21, 39, 56, 71, 88, 100 Modular, 148 Moixa Technology, 100 Molten glass, 138 Moore’s Law, 1, 99 Motor vehicles, 21 Multi-industry, 146, 161, 191 Multilateral climate funds (MCF), 114, 115 271 Multilateral development banks (MDBs), 114 Multilateral Investment Guarantee Agency (MIGA) (World Bank), 114 Multinational enterprises (MNEs), 113 N NanoResearch, 175 Nanotechnology, 72, 88 National Association of Securities Dealers Automatic Quotations (Nasdaq) Composite Index, 118 National Institute of Advanced Industrial Science and Technology (AIST), 62, 93 National oil company (NOC), National Renewable Energy Laboratory (NREL), 64, 141, 175 National Science Foundation (NSF) (US), 64 National security, 3, 6, 78, 104, 105, 157, 158, 205 Natural capital, 76, 169, 171, 180, 208 Natural capital accounting (NCA), 76, 169, 171, 180 Natural gas, 4, 7, 13–19, 22–4, 32, 33, 49, 72, 81, 85, 87, 92, 132, 157, 186 Natural radiative forcing (RF), 9, 10, 21, 143, 144, 147, 148 Natural resource rents, 78, 79, 191 Natural resources, 13, 78, 166, 180 272 Index Near Field Communication (NFC) Card, 140 Network-enabled devices, 49, 71 New Energy Global Innovation Index (NEX) (WilderHill), 118, 134 New York Green Bank (NYGB), 115 NGK Insulators, 2, 52, 150 Nippon Denki Kabushikigaisha (NEC), 62 Nissan, 62 Nitrous oxide (N2O), 21, 24, 25 Non-aqueous battery, 98 Non-concentrator Solar Power, 19, 20, 71, 103, 109, 115, 126–8, 132, 138, 140, 174 Non-economic barriers, 86 Non-governmental organizations (NGOs), 112 Non-hydro renewable energy technology, 19, 112, 137 Non-metal battery, 73 Non-renewable energy, 15–17, 32 North America, 4, 15, 63, 128, 132 Northeast Asia, 12, 16, 19, 26, 39, 57, 60, 63, 72, 150, 201 Norway, 41 NSF Partnerships in International Research and Education (PIRE) (US), 64 Nuclear energy, 18, 19, 77, 92, 95, 133, 185 O Ocean (marine) energy, 19 Ocean uptake, 23 Odawara (Japan), 188 Official development assistance (ODA), 115, 121 Offshore wind, 19, 96, 103, 118, 127, 149 Oil, 4, 13–15, 17, 18, 20, 22, 23, 25, 27, 31–3, 39, 41, 71, 78, 79, 81, 82, 85, 87, 92, 109, 122, 124, 132, 133, 157, 186 Oil consumption, 15 Oil production, 15 Oil refining, 87 Opportunity revenue, 165, 189, 197, 207 Oregon (US), 183 Organization for Cross-regional Coordination of Transmission Operators (OCCTO) (Japan), 188 Organization of Economic Cooperation and Development (OECD), 23, 27, 29, 34–8, 42, 45, 47–9, 51–5, 57, 58, 60–3, 65–70, 72, 81, 86, 91, 109, 110, 113–17, 125, 130–2, 140, 147, 148, 163, 169, 171, 172, 175, 177, 200 Orison Energy, 152 Ormat, 127 Other official flows (OOF), 115 Overcapacity, 40, 112 P Pacific Gas and Electric Company (PG&E), 92 Pacific Northwest National Laboratory (PCNL) (US DOE), 60 Pakistan, 128, 129 Panasonic, 62, 150–2, 202 Index Paraguay, 41 Particulate matter (PM10), 27 Passenger cars, 20 Patent, 6, 37, 38, 48, 49, 51, 52, 57, 65, 69, 72, 73, 140, 142, 201 Patent Cooperation Treaty (PCT), 37 Patent regime, 6, 201 Path dependent/ce, 189, 202 Path interdependence, Pedro de Valdivia CSP Solar Plant, 109 Pension funds, 113, 120, 162, 207 Perceived risks, 190 Perfluorocarbons (PFCs), 21, 24 Petrochemical, 14, 85, 124 Philanthropic institutions, 113 Photovoltaic (PV) cell, 19, 108 Plate glass, 14 Plug-in hybrid electric vehicle (PHEV), 56, 97, 101 Policy framework, 81 Policy instruments, 82, 89, 101, 128, 161, 191, 206, 207 Policymaker, 3, 8, 65, 104, 105, 133, 156 Policy regime, 86 Policy relevance, 162 Policy risk, 130 Policy signal, 162 Policy support, 86, 88, 123, 163, 202, 206 Policy uncertainty, 8, 101–5, 133, 162, 181, 201, 204, 206, 208 Political risk, 190 Pollution, 27, 28, 45, 81, 91, 156, 159–61, 164, 180, 213 Polymer battery, 143, 150 273 Polymer electrolyte fuel cell (PEFC), 143 Polyplus Battery Company, 175 Portable, 56, 57, 138, 141, 144–8, 151–3, 200 Portable battery technology, 56, 57, 138, 144–8, 152, 153 Pohang Iron and Steel Company (POSCO), 128, 152 POSCO Energy, 128 Potential energy, 29, 36, 39, 59, 78, 98, 139, 145, 146, 204, 205 Power balancing, 145 Power battery, 56 Power battery technology, 56 Power generation, 4, 18, 19, 29, 38–40, 42, 49, 71, 77, 86, 92, 108, 118, 119, 129, 132–4, 138, 139, 144, 145, 147, 148, 153, 161, 167, 174, 175, 178, 180, 184, 203, 204 Power management integrated circuits (PMIC), 144 Power producer and supplier (PPS), 188 Power purchase agreements (PPAs), 178, 194 Power sector, 90, 91, 102, 130, 132, 133 PowerShares WilderHill Clean Energy Portfolio (PBW) ETF, 120 Power storage, 50, 62, 118, 130 Power supply, 50 Power-to-heat technologies, 145 Power tower, 19 Price competition, 85 Price flexibility, 6, 90, 170, 193, 203 Price rigidity, 86, 180, 186 274 Index Primary energy, 13–17, 19, 25, 34, 38, 70, 87, 166, 178 Printed circuit boards (PCBs), 147 Private equity (PE), 110, 120–1, 124, 125, 129, 132 Private investment, 116, 124, 133, 160, 171, 178, 194, 207 Procter and Gamble, 151 Producer, 16, 29, 32, 85, 87, 96, 128, 163, 188 Production tax credit (PTC), 103, 104, 133 Productive capital, 169, 179, 208 Profit, 4, 61, 78, 84, 86, 87, 104, 112, 121, 123, 125, 165, 172, 182, 191, 207 Project finance, 109, 169, 194 Project financing stage, 111, 131 Property rights, 72, 84, 86, 177 Public equity markets, 111 Public financing mechanism, 87 Public good, 11, 155, 203 Public investors, 116 Publicly listed entities, 113, 118, 134 Public-private interface (PPI), Public-private investment funds, 194 Public Utilities Regulatory Policy Act (PURPA) (US), 181 Public Utility Commission of Texas (PUCT) (US), 182 Q Quaid-e-Azam Solar Power Park, 128 R Radiative balance, 21 Radiative forcing (RF) (Environmental (risk)), 9, 10, 10n1, 21 Radio frequency (RF) (CET), 143, 144, 146–8 Radio frequency identification (RFID), 146 R&D collaboration, 38, 63, 65, 142, 148, 172, 173, 177, 201 R&D expenditures, 36, 37, 60, 171 R&D intensity, 37, 57 R&D (financing) stage, 56, 88, 98, 111, 120, 123, 124, 140, 149 Recovery, 104, 171, 195–7, 199 Redox flow battery, 56, 145 RE financing, 111, 122, 124, 128, 129, 131 Refueling stations, 86 Regenerative Braking, 88 Regional catastrophe risk facilities, 196 Regional development banks, 114 Regional MDBs, 114 Regional Transmission Organizations (RTO) (US), 182, 183 Regulatory policies, 87, 89 Reinvested earnings, 112, 113 RE investment, 103, 104, 108–12, 119, 123, 124, 126, 181, 185, 204 Renewable electricity, 19, 20, 40, 69, 86, 89, 163 Renewable energy (RE), 4, 19, 35, 42, 133, 137, 155 Renewable Energy Asia Fund in South East and South Asia, 121 Index Renewable Energy Directive (EU), 183 Renewable energy expenditure, 36, 101, 109, 171 Renewable Energy Network (REN), 90 Renewable energy policy, 41, 80–90, 125 Renewable energy production, 13, 29, 92 Renewable Energy Promotion Project (Japan), 93 Renewable energy storage, 3, 9, 35, 40, 50, 55, 64, 68, 75, 92, 96, 107, 123, 126–8, 137, 147 Renewable energy supply, 140 Renewable energy technology, 3, 75, 123, 165 Renewable portfolio standards (RPS), 89 Renewables Energy Solutions Programme (dena, Germany), 94 Renewable technologies, 39, 50 Renovo Motors, 151 RE power capacity, 109 Research, 2–5, 7, 8, 35, 36, 47–76, 82, 87, 95, 96, 98–100, 109, 116, 123, 124, 139–43, 146, 148–50, 155, 163, 171–5, 178, 189–202, 205, 206, 208, 209 Research and development (R&D), 3, 35, 47–75, 87, 172, 200 Reserve management, 145 Residual risk, 195 275 Resilience, 6, 36, 49, 55, 80, 157, 158, 162, 171, 173, 191, 193, 196, 197, 205, 208 Resource efficiency, 96, 123, 159, 161, 179, 196 Resources, 3, 4, 13, 29, 31, 36, 44, 49, 55, 64, 70, 78, 81, 83, 93, 138, 141, 166, 167, 178, 180, 181, 187, 189, 191, 209 RE supply, 4, 19, 35, 42, 50, 69, 89, 138, 180 Retail, 40, 117, 122, 161, 180, 182–8 Retained earnings, 113, 123 RE transportation, 5, 7, 14, 15, 17, 20, 39, 50, 55, 82, 84, 103, 113, 123, 138, 139, 148, 161, 166 Revealed technology advantage (RTA), 52 Rheinisch-Westfälisches Elektrizitätswerk AG (RWE) (Germany), 184, 186 Rio Conventions (UNFCCC), 76, 77 Risk analysis, 6, 194–5 Risk assessment, 158, 162, 168, 170, 172, 192 Risk externality, 156, 163, 164, 192, 193, 201, 204, 207, 208 Risk insurance, 131, 194, 196 Risk internalization, 195 Risk perception, 8, 191 Risk reduction, 196, 197 Risk-return, 162, 165, 190, 206 Risk sharing, 194, 196, 200, 205 Risk-taking, 110, 124, 125, 194 276 Index Risk transfer, 192–4 Risk unbundling, 195 Robert Bosch, 152 Robust Affordable Next Generation Energy Storage Systems (RANGE) (US DOE), 98 Roll-out stage, 111 Royal Dutch Shell, 122 Royalties, 35 Russia, 23, 77, 81 S Sadara Chemical Company, 124 Safety, 2, 88, 92, 98, 158 Samsung, 71, 73, 74, 143, 150, 153, 174 Samsung SDI, 71, 143, 150, 174 Samsung-Sungkyunkwan University (SKKU) Graphene Research Center, 73 Sandia National Laboratories (US DOE), 60 San Diego Gas & Electric (SDG&E), 92 Sarulla Geothermal Project, 127 Sarulla Operations, 127 Saudi Aramco, 124 Savings, 78, 79, 112, 113, 169, 180 SB LiMotive, 153 Scalable, 3, 71, 88, 123, 147, 148 Scalable battery technologies, 123 Scale-up, 109, 111, 116, 149, 175, 177 Schulte Global Investment, 121 Scottish Power (Spain), 184 Securitized debt, 195 Seed money, 140 Sekisui Chemical, 62, 124 Self-financing, 112 Semiconductor, 53, 55, 143, 144, 152, 153 Semiconductor-mounted battery, 143 Sendai Framework for Disaster Risk Reduction 2015–2030, 196 Sensors, 143, 144, 147, 152 Service sector, 14, 20, 49, 188 Shale gas, 39, 85, 124 Shanghai Advanced Traction Battery Systems, 121 Sharp Laboratories of Europe, 100 Shizuoka (Japan), 188 SimpliPhi Power, 150 Sion Power, 151 Small and medium enterprises (SMEs), 125, 146 Small distributed capacity (SDC), 111, 145 Small distributed power systems, 71 Smart grid, 50, 80, 86, 108, 118, 127, 130, 145 SME BERD, 62 Social cost of carbon (SCC), 158 Social entrepreneurship, 113 Socially responsible investment (SRI), 119 Societal sustainability, 168, 189, 205 Socio-cultural barriers, 83–5 Sodium Sulfur battery, Solar, 9, 10, 19, 20, 39–41, 50, 55, 70–2, 81–3, 85, 90–2, 94–6, 98, 100, 101, 103, 108–10, 112, 115, 118–20, 126–8, 130, 132, 137, 138, 140, 143, 145, 147, 149, 152, 153, 157, 161, 165, 167, 174, 186 Index Solararise India Projects Private Limited, 121 Solar cell, 72 SolarCity, 152 Solar cooking, 149 Solar energy, 19, 91, 92, 101, 103, 174 Solar fuel, 137, 143 Solar PV, 39–41, 90, 95, 96, 103, 108, 110, 112, 118, 120, 126–8, 130, 153, 167, 186 Solar PV imbedded glass, 153, 167 Solar PV unit costs, 108 SolarReserve, 109 Solar road, 143 Solar thermal electricity (STE), 19 Solar water heating (SWH), 20, 127 Solid biofuels, 42 Solid oxide fuel cell (SOFC), 143 Solid-state battery (SSB), 143, 153 Sony, 62, 138, 150 South Africa, 109 South East Europe and Caucasus Catastrophe Risk Insurance Facility, 196 Southern California Edison (SCE), 92 Sovereign wealth funds (SWFs), 120, 162 Spain, 41, 109, 115, 130, 172, 184 Spin-off, 175 SSE, 184 Start-ups, 125, 131, 142, 146, 148 State Grid Corporation of China (SGCC), 64 State Grid Energy Research Institute (SGERI) (China), 64 State-owned enterprise (SOE), 4, 71, 116, 118 277 Stationary, 56, 97, 137, 138, 141, 144–7, 150–3, 167, 174, 200 Stationary Battery Technology, 146 Steel, 14, 24, 27, 82 Stewardship, 41 STMicroelectronics, 152 Storage technologies, 3, 7, 9, 35, 40, 50, 55, 74, 98, 99, 107, 123, 138, 145 Strategic Energy Plans (Japan), 93 Subsidies, 71, 86, 87, 89, 101, 103, 105, 131, 157, 163–5, 184, 202–4 Sulfur hexafluoride (SF6), 21, 24, 26 Sumitomo Electric Industries (SEI), 150 Super Battery, 99 Supercapacitor, 56, 73, 145 Super-conducting magnet energy storage (SMES), 56, 63, 145 SUPERGEN Energy Storage Hub (UK), 95 Superionic conductors, 56, 145 Supply chain, 4, 150 Supply-push, 87–9 Supply stimulating technology push policies, 88 Sustainability, 4–32, 36, 49, 83, 104, 112, 130, 155–97, 199, 200, 202, 205, 208, 209 Sustainable Development Goals (SDGs) (UNGA), 30, 161 Suzhou Institute of Nano-Tech and Nano-Bionics (CAS) (China), 64 Switzerland, 66, 67, 206 278 Index Systemic complexity risk, 192, 193, 196 Systemic risk, 6, 156, 191, 192 System integration technology, 1, 55 T Tanaka Chemical, 62 Tax credit, 89, 95, 103, 104, 133 Tax exemption, 89 Tax incentive, 66–68, 181 Tax reduction, 89, 95, 103 TBEA Xinjiang SunOasis, 128 Tech bubble, 125 Technological development, 1, 33–45, 53, 55, 82 Technological innovation, 6, 35, 49, 63, 75, 160, 163, 175, 188, 189, 201, 203, 205 Technology development, 52, 69, 88, 161, 172–4, 177 Technology diffusion, 175 Tech-to-market (ARPA-E) (US DOE), 59, 149 Tehachapi Wind Energy Storage Project, 128 TerraForm Global (SunEdison high dividend yieldco), 120 Tesla Motors, 126, 151 Tesla Powerwall, 152 Tesla ‘spark’, 174 Thermal, 2, 13, 17, 19, 21, 28, 29, 39–41, 70, 98, 123, 137, 138, 140, 143, 145, 147, 152, 178, 186, 212, 213 Thermal management system (TMS), 98 Thermochemical energy storage systems (TCES), 143 Thin-film (battery), 72, 140, 143, 144, 146, 148, 150, 152, 153 Thin-film and printed battery, 148, 152 Thin-film, printable and flexible, solid-state batteries, 98, 144 Thin-film PV Cell, 146 Thin film PV energy harvester, 146 Thin-film Solar Cell (TFSC), 72 Third Basel Accord (Basel III) (BIS), 131 Threats, 7, 29, 156 Tokyo Electric and Power Company (TEPCO), 92 Toshiba, 127, 172 Total energy produced (TEP), 42 Total final consumption (TFC), 13 Total final energy supplied (TPES), 13 Toyota, 64 Trade sales, 109, 120, 125 Transmission cost, 178 Transportation and distribution (T&D), 17 Transportation technology, 5, 7, 13, 39, 50, 55, 56, 72, 84, 99, 123, 138, 139, 144, 148, 153, 161, 166, 167 Transport fuels, 38 Transport/Transportation, 5, 7, 13–17, 20, 21, 24–6, 29, 34, 37–9, 42, 49, 50, 52, 53, 55, 56, 62, 65, 69, 71, 72, 82, 84, 86–8, 99, 103, 108, 113, 123, 130, 133, 138, 139, 144, 147, 153, 161, 163, 166, 167, 173, 174, 190 TVN Systems, 145 Index U UK H2 Mobility Project, 39, 100 UK Solar PV Strategy, 95 Underinvestment, 83, 84 UNEP See United Nations Environmental Programme (UNEP) UNFCC See United Nations Framework Convention on Climate Change (UNFCCC) UNGA See United Nations General Assembly (UNGA) Uninterruptable energy supply (UES), 4, 50, 145 Uninterrupted power supply (UPS), 50 United Kingdom (UK), 6, 12, 15, 16, 18, 20, 23, 25, 26, 28, 29, 31, 33, 34, 36, 37, 39, 42, 43, 45, 47, 48, 57, 58, 61–3, 65–8, 72–4, 76, 79, 90, 91, 95, 96, 100, 102–4, 115, 116, 119, 120, 125–7, 134, 135, 148, 150, 174, 184, 191, 205 United Nations Environmental Programme (UNEP), 11, 18, 21, 23, 40, 41, 44, 45, 47, 48, 50, 76, 85, 90, 104, 108–12, 114, 116, 118–20, 123–6, 128, 130, 133, 159, 160, 162, 168, 186, 193, 195 United Nations Framework Convention on Climate Change (UNFCCC), 11, 25, 76–8, 102, 173, 177 279 United Nations General Assembly (UNGA), 11, 27, 30, 31, 76, 168, 169, 173, 180, 189, 196 United States (US), 3, 8, 9, 11, 13–15, 17, 25, 27, 29, 31–3, 35, 37, 44, 50, 52, 59, 64, 65, 67, 71, 77, 78, 82, 85, 85n1, 87, 90–3, 97–9, 103, 104, 109, 110, 112, 113, 115, 116, 118–21, 124–7, 129–31, 133, 134, 137, 138, 140–2, 145, 147–51, 153, 159, 161, 161n1, 162, 172, 175, 180–3, 191, 195, 199, 202 University of Washington (US), 144, 183, 199 Unmanned Aerial Vehicle (UAV) US China Clean Energy Research Center–Clean Vehicles Consortium, 64 US-Japan Energy Strategic Dialogue and Energy Policy Dialogue, 64 US Office of Naval Research (ONR), 71 US Partnership for Renewable Energy Finance (US PREF), 191 Utilities, 5, 7, 25, 40, 42, 49, 50, 56, 62, 69, 71, 72, 86, 89–92, 94, 99, 100, 102, 113, 116–19, 122, 123, 133, 134, 139, 142, 147, 152, 153, 161n1, 167, 168, 172–4, 178–82, 184–6, 188, 194, 203 280 Index V Valley of death stage, 88, 109, 110, 124 Value chain, 149, 177, 181 Value creation, 5, 6, 170 Vanadium redox flow battery (VRFB), 56, 145 VC See Venture capital (VC) Vehicle-to-grid (V2G) Vehicle-to-infrastructure, 17, 69, 82, 86, 107, 113, 119, 121, 167, 194 Venture capital (VC), 110, 111, 113, 121, 122, 124, 125, 129, 174, 195 Viable, 4, 5, 7, 20, 85, 87, 107, 123, 140, 155, 160, 162, 171, 175, 189, 200, 203, 204, 207, 208 Vivent Solar, 120 Volatility, 11, 14, 28, 85, 156, 162, 191, 192, 199, 202, 206 W Walney Extension, 127 Wanxiang Group, 121 Water, 12, 15, 17, 20, 27–31, 33, 36, 40, 41, 45, 48, 68, 72, 76, 98, 103, 127, 156–8, 165–9, 190, 213, 225 Water-energy nexus, 157 Water resource management, 45 Water risk, 17, 29, 30, 156 Wealth managers, 113, 120 Wearable battery, 74, 144, 147, 152, 153 Wearable electronics, 148, 153 Wearables, 74, 144 Well-being, 6, 158–61, 171, 207 Well-mixed greenhouse gasses (WMGHGs), 10, 21 Wholesale price, 178 Wi-fi (signals), 143, 144 Williams Advanced Engineering, 151 Wind energy, 19, 40, 81, 96, 118, 126, 128, 130 Wind power, 20, 40, 41, 103, 127, 128, 145, 181 Wind turbine, 19, 20 Wind vortices, 143 Wireless, 53, 57, 140, 145–7, 152, 167 Wireless sensor, 146, 152 Wireless sensor node (WSN) World Bank, 29, 34, 36, 43, 79, 114, 117, 120, 122, 134, 169 Y Youxia, 151 Z Zinc Bromine flow battery, 145 .. .Environmental Risk Mitigation Barbara Weiss • Michiyo Obi Environmental Risk Mitigation Coaxing a Market in the Battery and Energy Supply and Storage Industry Barbara Weiss St Petersburg Institute... Energy, Batteries, Energy Supply and Storage 107 Battery and Energy Supply and Storage Technology Frontier 137 v vi Contents Coaxing a Market: EnvironmentalSocietal-Financial Sustainability Interfaces... that includes financial, natural, and human capital These concepts are developed and incorporated here into a number of cases that offer some “ways forward” to coaxing environmental risk mitigation