Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
"And talking of leaky houses can’t see heat pumps working in the 3rd world slums anytime soon and they just run Diesel generators all day !! And that accounts for a good 2-3 billion people"
So are you suggesting that we should forget about net zero and just use the cheapest form of energy, regardless of external costs?
IMO I think we need to put a lot of effort and money into electrification of everything. It is not easy, but just saying that we should continue using O&G and put our head in the sand is not the solution. Of course during transiont we need to produce and consume O&G.
@romaron:
Regarding sun beams. Did you miss that solar panels is the cheapest way of generating electricity, no need for cucumbers. And guess how it became the cheapest, not by listening to you for sure.
What do you think is easier to solve, recycle solar panes or make O&G to become net zero.
Solar panels have usage of 25-40 years aswell.
Again I would like to thank you on behalf of everybody on this forum that you brought up the ESG discussion again in this forum.
Not sure what you mean with simplicity.
Saying leaky house make heat pumps not viable is just a fact that does not make sense. It is not the leaky house that does not make it viable. Heat pumps is a heat source and it does not depend on if your house is leaky or not. There are other reasons though and make your house less leaky might make a solution to make it viable to install heat pump. But the root issue is the energy that your central heating can produce with different heating sources. And there is different options to fix this.
" note nuclear is now their green energy "
Nuclear is green energy and fossil free. Not sure where you wanted to go with that comment.
Missed the gem from you:
"15 years ago I sat with engineers at a Mitsubishi presentation of heat pumps. Much cleverer experts than me challenged the multiples (COP) claimed by them. They never achieved what Mitsubishi claimed."
This is just pure FUD. Maybe the COP from manufacturer is a bit overstated but that heat pumps deliver a substantial COP is a fact. So what did the clever experts say was a reasonable COP to expect?
Thanks Romaron for bringing up ESG again. It seems this boards love to discuss ESG.
" I am a believer in heat pumps but they wouldn't work for me and my house was built in 1994. Only new build really make heat pumps an option."
Could you please explain what a leaky house has to do with heat pumps? If you manage to find the answer to that. Maybe then you could give a better answer to why it might not make sense to install heat pump in your house than just some blanket BS statement that heat pumps do no work with leaky house.
Badly insulated homes are not good regardless of heat source. One is that it is just wasting energy, second is that it gives bad "heat comfort". I.e. even with high temparature the house will feel cold if you have it badly insulated.
Improve insulation should be the first step before even thinking about installing a heat pump. It might be hard and not economical on a old house tough. If your house was built in 1994 and is badly insulated I think there should be room for improving insulation though.
Depending on price of electricity and gas it could be worthwhile to install a air-to-air heat pump regardless of insulation aswell.
Gas prices are more local than oil so hard to look at europe gas prices and draw a conclusion. But there should be alot of conversion of gas to oil in europe which should drive up oil demand.
https://www.axios.com/2022/07/11/europe-natural-gas-prices
From Romaron:
"BTW - I'm not anti heat-pumps. Just the cost and realism still exists where I live."
This made me laugh. And you certainly managed to fool me.
Please do tell, what is good about heat pumps?
Or maybe could you find any post where you have said anything positive about heat pumps.
My main beef is with the head troll Romaron that bashes all ESG technology and calls it useless with long word salad posts.
Heat pumps the most obvious one that is completly wrong.
Heat pumps are not for all houses. But it is a proven technology that saves alot of energy.
I am sure heat pumps are viable and good choice for part of uk houses. Especially if you build a new house.
https://www.theguardian.com/money/2022/jul/27/uk-energy-bills-forecast-to-hit-3850-pounds-russia-cuts-gas-supply-further-europe-pipeline
Gas seems that it might become very pricey this winter in UK. Possible it makes sense to install a heat pump as backup. Will probably be paid back within 2 years for air to air heat pump. Almost as good investment as Enquest.
https://www.theguardian.com/environment/2021/oct/19/what-are-heat-pumps-and-why-is-the-uk-government-pushing-them
BTW a air source heat pump cost around £2000 including installation. The article quotes £6000 in UK. Which is ridicoulous difference assuming this is air to air.
@romaron maybe you should stop building tents to live i and build proper insulated houses.
Heatpumps works in the rest of the worl but not U.K. sounds more like the normal anti technology UK when it comes to bilding houses. When I lived in UK in beginning of 2000 even in new built homes two faucets where commonly installed for water. I don not think I even seen that in eastern Europe on houses built from the 1980. And double glazing instead of tripple glazing. Yeah it is quite a feat to insulate in such a bad way thaf triple glazing does not make sense or heat pumps. LOL
Heat pumps are not for all houses, but to basically say it is crap is just stupid. But maybe UK is special incompetent and can not manage a proven technology that saves alot of energy in other countries.
https://www.mitsubishicomfort.com/articles/electric-heat-pumps-bring-eco-friendly-efficiency
"90 percent of Japanese households use heat pump air conditioners, the report says. In Japan, heat pumps contributed to a 40 percent drop in seasonal electricity consumption for heating and cooling over 10 years."
At Romaron:
"I seem to attract stalkers and their obsession could worry somebody of a more nervous disposition"
That is what trolls do which you will see if you look into the mirror.
Is it a surprise for you that heat pumps can be used as AC in the summer?
So are you saying that heat pumps is not a proven technology? Or that you were incompetent when installing?
Here is some information on heat pumps:
https://www.washingtonpost.com/technology/2022/07/21/europe-heat-wave-heat-pump/
I have good tip to you. Instead of filtering stop posting things that you are not able to argue for when questioned.
Yes, I am Swedish.
When it comes to ESG Romarons subtletlies are like an elephant in glass store.
Also he has the nerve to call almosteverybody a troll, when he is questioned on his arguments. And then never engages and just continues the same line.
On top of that he is a textbook bully. See his competition where one person was not allowed to participate.
Here is economist take on ESG.
https://www.economist.com/leaders/2022/07/21/esg-should-be-boiled-down-to-one-simple-measure-emissions
Romaron that is how you critize ESG. Not your word salad posts that blame ESG and for everything. Ciritisize the bad parts not the underlying idea and transition.
Not sure if I recall correctly but recall you bashing out against heat pumps and even saying you worked in the area. This is sure sign that you are incompetent.
Some fun facts. 90% of japans home use heat pumps. Nordic countries use them a lot. They save alot of energy. This is not a controversial view and really consensus. If you work with this and screwed up it is just showing your level of competence. Sorry if I misstook you for some other poster.
KO, a reality check for you. For the last 5 years you have moaned basically daily about changes in oil prices and share price.
And you are complaining about me preaching. LOL
I am preaching zero things, what I have said is that the abysmal return on oil stocks and Enquest in particular has very little to do with ESG.
Could you please point to any post where I have said you should sell Enquest or Enquest is overvalued.
Maybe you can start by actually going to a read comprehension course.
Zero complaints on Romarons word salad post on anti ESG. I still waiting for his five daily eassys... LOL.
10-20 years ago you did not have 10 years of low oil prices.
The multinationals are not traded at PE 1.
It is Enquest that is traded at that level and it is for a reason. If they this time, which I really hope, can actually deliver it should change.
@Pelle.
Could you explain why the SP would be 5 times higher. Is it Enquest great return to shareholder the last 10 year that make you believe that?
The major reason for low returns for oil stocks have been low oil prices. The other but that is much smaller is that we need to stop using oil. So most investors do not invest to get a return in 20 years, but want return quickly. For normal companies the terminal value is what make up biggest part of the value. What terminal value do you set for oil companies? This can be wrong and then you have great opportunity to be long time holder of oil.
My own plan is to hold zero oil stock in 5 years. Might of course change. But if multiples wold be "normal", I would own zero oil stocks.
Romaron you are behind on the your word salad posts. What is ESG faults today? The hot weather in London.
You know 1000 words on ESG bashing keeps the doctor away.
LOL
@northernmonkey
Thanks for your insightful post I see the light now.
I guess you are alos one of the long time holder of oil stocks that blame the abmysal returns the last ten year on ESG and not low oil prices. LOL.