Clean Energy According to Bloomberg
A recent shift on clean energy coverage hasn’t gone unnoticed.
“Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas.”
The company says that the purpose it was born with — to change the world for the better — is “proven by our actions, which harness the resources, skills and profits of our company to transform lives around the world through the power of data.”
Bloomberg’s relationship with clean energy has been arguably inconsistent, particularly through the clean energy investment commentary arm, New Energy Finance. Historically, BNEF prominently highlights the progress of solar and wind energy, and batteries for EVs and grid-scale storage, though other renewable technologies are also sometimes included. Consequently, BNEF’s figures and projections have fueled countless headlines on anti-nuclear blogs.
Meanwhile, coverage of nuclear energy could be described as uncharitable. The most egregious recent example was levelised cost of energy comparison work by BNEF, misrepresented by anti-nuclear stakeholders in Sweden and subsequently unpacked by Dr Staffan Qvist.
However, what we’ve seen lately has been vastly more positive and seems to signal a step change in consistent, inclusive clean energy coverage at BNEF and Bloomberg more widely. There it is — existing and renewed nuclear capacity — included in BNEF’s transition scenario.
And, strikingly, a nuclear-centric scenario was explored for the first time in the most recent New Energy Outlook.
US “states viewing advanced nuclear as opportunity”, and “historic opponents rethinking their objections” is now being highlighted alongside this work.
And to really punctuate this turnaround, while Bloomberg outlets themselves have boldly reported on recent headwinds faced by solar and wind…
…nuclear energy is now unambiguously included beside these vital clean energy sources.
“Data is reality. If you face it, you can understand it. Then, you can do something about it.”
Ultimately it will be up to national plans, associated industries, and modernised vendors to overcome perceptions about timeframes, cost, and pressure from dedicated obstructionists…
…by maintaining purpose and focus, and applying fresh approaches with decades of learning. Only then will that grey bar in BNEF’s chart bloom to its deserved scale.
Oscar Archer holds a PhD in chemistry and has been analysing energy issues for over 15 years, focusing on nuclear technology for nine, with a background in manufacturing and QA. He also writes for The Fourth Generation and The Kernel. Find him @OskaArcher on Twitter.