Since first bursting into the public consciousness several years ago, the concept of cryptocurrency has continuously perplexed many people outside the industry, while others felt confident that they were close to understanding the technology only to have it slip through their grips. All the while, cryptocurrency opportunities were creating windfalls of economic opportunities for investors and stakeholders, regardless of how well they actually understood it! But during these early times, the hot trend of cryptocurrency seemed to some like something of a buzzword, with corporations getting into the game while journalists breathlessly detailed the teenagers who had unwittingly become Bitcoin millionaires.
Now, though, the cryptocurrency sector has a few years under its belt and proponents have moved further along the hype cycle to reach tangible and productive projects. However, those increasingly common projects have found the need to continually address a persistent issue: the massive energy demand of the cryptocurrency landscape.
The backbone of cryptocurrency, which can be read about via great explainers like this one, is using computers to constantly run while solving complex equations. This computing power and required data servers have a notable electricity footprint, highlighting how there’s no such thing as a free lunch. Because of that, stakeholders in the cryptocurrency must really evaluate the energy demand, the associated climate implications, and identify how the emerging technology and the power sector can work and plan harmoniously towards the future.
To start, what exactly are the energy requirements of cryptocurrency? According to Harvard Business Review, the poster child in cryptocurrency—Bitcoin—currently consumes 110 Terawatthours of energy each year, representing 0.55% of global electricity production. To put that figure in perspective, the New York Times broke it down this way:
These numbers are mind-blowing, but they make sense when realizing that each bitcoin transaction has an energy footprint of over 1,800 kilowatt hours (kWh) compared with 100,000 Visa transactions that use just shy of 150 kWh in total.
Despite these massive energy generation needs, the impact isn’t quite as negative for the climate as it could be, as shown by a report that tabulated Bitcoin’s energy consumption to come 73% from carbon-neutral sources, largely via hydropower in cryptocurrency mines in Asia and Europe that are co-located with existing dams. An alternative assessment found that figure to be closer to 39% carbon neutral, showing that the anonymized nature of cryptocurrency makes direct study challenging to nail down exactly. But either way, cryptocurrency operations do seem to be largely renewable, especially when compared with more carbon-intensive economic activities that pull from the typical grid.
Whether the energy footprint of these cryptocurrency operations is 39% carbon-neutral or 73% carbon-neutral, the sector still leaves a large chunk of immense energy consumption that is not carbon neutral, which is only getting more concerning as the total market grows. For further context on the climate impact, consider the following figures:
These numbers are all increasing with each passing year, as cryptocurrency values increasing are only driving more activity. As noted by Charles Hoskinson, co-founder of Ethereum, the blockchain network for one of the most valuable cryptocurrencies on the market:
“The more successful bitcoin gets, the higher the price goes; the higher the price goes, the more competition for bitcoin; and thus the more energy is expended to mine.”
However, the truth is that the innovators driving cryptocurrency also tend to be forward-thinking in how they acquire their energy. The reason that these cryptocurrency operations can be creative and proactive in how they fulfill their energy needs is that they don’t have to have their power needs fulfilled directly from the grid. Following in the footsteps of the massive data centers that allow tech giants like Amazon and Google to hum, cryptocurrency operations have realized the benefits they have by not being geographically bound. Instead, these facilities are placed where the land and the energy are cheapest. This trend means rural, remote locations where land is plentiful make more sense for cryptocurrencies than urban centers or Silicon Valley. Further, when those operations are built, they then tend to be powered by contracting directly with renewable energy projects (existing or new) nearby. By contracting with renewable farms directly, these companies can get the best electricity rates, remain insulated from market price surges, minimize their carbon footprints, and even minimize the amount of energy lost from transmission (a key benefit of this type of distributed energy generation asset).
These types of cryptocurrency and renewable project partnerships have been forged repeatedly. For example, the North Dakota Public Service Commission just recently approved a direct agreement between a blockchain company and a clean power provider, while recently the president of El Salvador has looked to bring a new renewable energy generation source into the game with its local geothermal resources.
In addition to these renewable energy resources, another carbon-neutral power source has started to see pairing opportunities for cryptocurrency, and that’s nuclear power. Nuclear plants are expensive to build and come wrapped in immense amounts of red tape that increase timelines and risk, but two areas are getting attention in the nuclear sector for cryptocurrency are leveraging existing nuclear power plants and the coming technology of small modular reactors (SMRs).
SMRs are a type of mini-nuclear reactor, with that smaller size making them a dispatchable, buildable source of power that can be constructed in a factory and shipped to where it’s needed, such as a remote cryptocurrency facility’s location. This ability reduces the capital expenditures requires, minimizes red tape, and allows one large energy user to meet their own needs with clean energy rather than rely upon the grid. Utilizing SMRs for energy needs is another area where cryptocurrency is following the lead of data centers in this regard, as recently Amazon and other tech giants have contracted with SMR providers to discuss a future where this would power operations. So similarly, SMRs are going to be valuable for cryptocurrency moving forward.
Then on the theme of utilizing existing power plants, the advantages are actually just as notable for the energy sector itself as they are for the cryptocurrency players.
For existing nuclear power plants, keeping them cost-competitive with new power generation and distributed energy generation has been challenging because the ramping up and down to match demand can be costly. While Illinois recently passed legislation to help aid these existing nuclear plants, not every state is trending that way and so offloading extra generation to cryptocurrency needs has gotten a lot of attention. For example, the mayor of Miami has been publicly recruiting cryptocurrency companies to come and take power from the region’s Turkey Point nuclear plant
Similarly, the Midwest utility Ameren recently found that mining cryptocurrency would be an effective way for it to offload excess generation when customer demand drops. Utilizing that excess power for cryptocurrency represents a much preferable solution than the status quo of ramping down production, which is inefficient and costly. With this new strategy, they can instead keep production humming and make productive use of the energy. Further, this process makes the utility money, which reduces costs to customers in the end. While this Ameren program is still in pilot, it is garnering a lot of excitement and could represent the future path many utilities will take.
In the end, the energy sector is evolving more than it ever has before. Modern technologies, smart capabilities, and more are key to the future of energy. These are the trends that Atlantic Energy is keeping at the forefront for you. Whether it be providing smart home products or identifying early-stage clean energy for your home or business, we see the trends that are coming and keep you informed and ensure you benefit from them.
Don't you hate it when it's the middle of the night, and you're a few pages away from finishing your latest murder-mystery novel when a blown light bulb suddenly ruins your chance of finding out who done it? If your bedside table lamp uses a regular light, you might want to know if you can replace it with a different type of light.
When you head on over to your favorite home improvement store the next day, don't reach for the first light bulb you see. Now is the perfect opportunity to make the switch from a standard incandescent bulb to an energy-efficient LED bulb.
Continue on to read our light comparison guide and discover the top differences between LED lights and standard bulbs.
A study by the University of Michigan Center for Sustainable Systems took a look at how replacing regular lights with LED lights helped cut residential energy costs and greenhouse gas emissions. The researchers said, "lamps with higher usage rates should be upgraded first and more frequently to achieve the highest possible cost, energy, and emission savings."
The top reasons to consider making the switch from regular lighting to LED lighting include:
Due to their energy inefficiency, certain incandescent and halogen light bulbs are starting to be phased out or even attempted to be banned in certain states. LED lights continue to get cheaper every year and, when you factor in their long lifespan, the cost is comparable to regular bulbs.
Have you ever wondered if an LED light bulb is the same as a regular light bulb? Amazingly, Energy Star mentions how "LED lighting products produce light up to 90% more efficiently" when compared to standard household incandescent light bulbs.
The four main types of light bulbs used in residential homes include:
Incandescent light bulbs are the standard light bulbs used in most people's homes. They are easily recognizable with their white, or sometimes clear, glass bulb surrounding a tungsten lighting filament. Regular light bulbs have been around since the mid-1800s and work by heating the filament with electricity until it begins to glow brightly.
Incandescent bulbs aren't very efficient, produce a lot of heat, and burn out relatively quickly. The average lifespan of regular incandescent light bulbs is only about 1,000 hours.
Halogen light bulbs are nothing more than an enhanced version of an incandescent bulb. Like regular lights, halogens start with a clear glass bulb enclosing a tungsten lighting filament. However, the tungsten filament from a halogen bulb is also surrounded by a transparent housing filled with an inert gas like iodine or bromine.
When you turn on a halogen light fixture, the gas ignites the filament producing a hotter yet brighter light than a standard bulb. The average lifespan of halogen bulbs is about 2,000 hours.
Compact fluorescent lamps come in many shapes and sizes, including the ubiquitous spiral tube seen at many home improvement centers. They are kind of like a miniature overhead fluorescent lighting tube housed in a compact lighting fixture. CFL light tubes contain argon gas and a trace amount of mercury. When an electric current travels through the tube, ultraviolet light is generated, causing the interior fluorescent coating to phosphor or light up.
CFL bulbs come in different base types, including a screw-in base that lets you use them in any standard lighting fixture that fits a regular incandescent or halogen bulb. The average lifespan of a CFL bulb is about 12,000 hours, and they use much less electricity - about one-fifth to one-third less than regular incandescent bulbs.
When you turn on an LED light, electricity passes through a small microchip, AKA the light-emitting diode, causing it to glow brightly. A few reasons for the growing popularity of LED lights are that they are cooler to the touch, use much less energy, and last up to 25 times longer than standard light bulbs.
People used to worry that replacing their entire household with LED bulbs was expensive. But you should never compare the cost of an inefficient regular bulb with an energy-efficient LED bulb. With the average lifespan of an LED bulb being around 25,000 hours, this means your bulbs will last much, MUCH longer compared to standard lighting options.
This is a win-win lighting situation for your home, your wallet, and the environment.
If you're replacing all your lighting fixtures with LED bulbs, you're probably wondering how to dispose of your old bulbs. Of course, you don't want to simply throw them in the trash, as broken bits of glass are certainly a safety hazard.
Many recycling facilities won't accept light bulbs placed in recycling bins, but you can dispose of incandescent, halogen bulbs in your regular trash can. It's a good idea to wrap the bulbs with paper towels or place them in a ziplock bag or small cardboard box before disposing them. That way, the sharp pieces of glass are safely contained if any of the bulbs break.
Since CFLs contain a trace amount of toxic mercury, this makes disposal a more difficult proposition. You may have to take your CFL bulbs to a facility that accepts household hazardous waste or contact your local home improvement store to ask if they have a CFL drop-off site near you.
We think you'll agree that, after reading our light comparison guide, there really is no reason to continue using inefficient incandescent lightbulbs around your home. From lowering energy costs to reducing carbon dioxide emissions, LED bulbs are the lighting of the future.
Power the Smart Way with Atlantic Energy - reach out to us today and discover how we can help make your home smarter. When you choose us as your residential energy provider, you will receive our Smart Home Bundle, including ten energy-efficient LED bulbs and 3 Smart Wi-Fi enabled LED bulbs.
With so much understandable focus on transitioning energy generation from fossil fuels to clean energy, stakeholders must not overlook some of the lowest hanging fruit in the energy realm: energy efficiency. Well-planned energy efficiency programs and technologies represent one of the most critical and natural win-wins out there. Energy efficiency allows for conserving of energy without sacrificing output, meaning buildings and customers cut costs, power providers minimize how much demand they need to reach, and fewer greenhouse gases are spilled into the atmosphere.
When looking at the buildings sector, HVAC (heating, ventilation, and air conditioning) accounts for a whopping 40% of energy use. Because of that fact, finding ways to minimize heating and cooling needs can have a greater effect on utility bills and environmental impact than some of the more commonly discussed options like turning off lights or buying more efficient appliances.
For building owners and facility managers seeking out their unique opportunities to get efficient in the heating and cooling department, they should simply tilt their heads to look up to the rooftop. While rooftops are commonly thought of in the energy world as the avenue for solar panels for those trying to be green, not all buildings are suitable for solar energy. A building could be in a region with poor solar irradiance, it could have a roof that doesn’t face the sun during prime solar hours, it could find itself in the shadow of taller buildings, or it could simply be too costly to install solar panels. However, all buildings can benefit from potential efficiency solutions instead, and these efficiency solutions have looked different in the past from today, and looking forward there are emerging technologies that provide new reasons for excitement.
Looking at the past, present, and future, rooftops can be a tool for energy efficiency:
Early ways to get air conditioning to commercial buildings typically included multiple units on different floors or in different rooms. These systems would send the cool air where it was needed in the summer months, and full HVAC units would do the same with warm air during the winter. This equipment revolutionized the buildings sector, but they did so by adding the greatest amount of aggregate energy demand ever experienced for a single technological advancement (at least until electric vehicles reach their tipping point).
To feed this addiction to building heating and cooling in a way that didn’t require increasingly great demand loads, high-efficiency rooftop air conditioning units were developed. Putting these units on the rooftop in batch form allowed for greater size units that could thus increase the total equipment efficiency, and modern advances since the turn of the 21st century allowed for improvements on the level of 40 to 50% in just the past decade.
Improving building heating and cooling efficiency with larger but more efficient equipment is a helpful, but not very elegant solution. By attacking the sector with a brute force solution, it costs building owners a lot of money to buy into these solutions. Higher efficiency rooftop HVAC units also risk falling under Jevon’s Paradox where building occupants who know they have more efficient equipment may feel license to use the heating/cooling functions more liberally and actually increase total energy demand. Lastly, advancements in the efficiency of these units have slowed in recent years, as the low-hanging fruit of this efficiency solution of yesterday have been picked and resulted in a stall out of further progress.
On rooftops of today, however, some more nuanced and clever solutions have started to take hold in the form of how rooftops are designed. On one side, green rooftops have become a common trend in commercial buildings today. A green roof, according to the U.S. Environmental Protection Agency, is “a vegetative layer grown on a rooftop,” meaning the roof is literally green with plant life like small trees, shrubs, grass, or other plants. The goal of a green roof is to reduce the amount of heat that gets transferred into a building over the course of sun-drenched days. This goal is accomplished as the plant life can provide literal shade, acting as insulators to prevent temperature exchange between the building and air, and generally ensure reduce the need to tap into HVAC systems to regulate a building’s temperature. Upon installation of a green roof, a building can experience 15-25% energy savings on summer energy costs by reducing heat transfer from building exterior to interior by up to 72%. At the same time, green rooftops can be more attractive, engaging for occupants, and even reduce the risk of urban heat islands that increase the more the climate changes.
In a similar vein, cool roofs (sometimes known as white roofs) are a similar solution that comes with buildings designing their rooftops to be painted white. Because dark rooftops, which have architecturally been the norm, trap heat on them and transfer that heat into the building, HVAC systems must work overtime to regulate the temperature during sunny days in the hot months. By simply painting rooftops white, though, rooftops will reflect up to 90% of sunlight (compared with 4% of black asphalt). Reflecting that sunlight, and thus heat, away from the building has a similar impact as green roofs, eliminating how hard air conditioning units need to work to keep the temperature inside a building comfortable, and this goal is accomplished simply at the cost of the white coat of paint. Studies who look at the energy use of a building before and after that coat of paint find energy savings of 8% all the way up to 40%, making the investment pretty obvious.
Technology is always advancing, and given that the building stock accounts for 40% of energy use and greenhouse gas emissions, retrofitting existing buildings and constructing new buildings with the best energy efficiency technologies is of paramount importance.
A few specific rooftop efficiency trends to keep an eye on in the coming years include:
And scientists and engineers are sure to identify further opportunities all the time, so keep an eye on this space! As they say, the cheapest unit of energy out there is the energy that’s not used, so keep looking for ways to optimize efficiency first and foremost. If you don’t know where to start with efficiency, you can turn to your power provider as they’ll likely have programs to help you embrace efficiency (having your energy use managed and limited helps the utility just as much as the customer). For example, Atlantic Energy works to educate our customers on the best ways they can save energy, including the use of our smart device packages with smart LED lights and smart plugs. Get started today by enrolling with us.
Media outlet headlines and social media posts galore last week came out with a force for the following announcement: the Biden Administration is talking about nearly half of U.S. electricity coming from solar power by 2050. Clean energy advocates, climate warriors, and regular consumers alike raised their eyebrows at such a bold pronouncement. And as too often happens in today’s environment of soundbite news and Tweet-length hot takes, the debate raged on before many people bothered to dig into the headline and what was behind it.
Whether you find yourself excited and optimistic about increasing the energy supply coming from the sun or if you turn a skeptical eye towards such bold claims, informing your opinion based on the facts behind the story needs to be a top priority. So, let’s pump the breaks on the instinct towards sensationalism and make sure we know what the story is being discussed.
When headlines across the web proclaimed the Biden administration was talking nearly half of U.S. electricity supplies coming from solar energy by mid-century, the impetus was the release of the Solar Futures Study from the U.S. Department of Energy. The crux of the headlines that you may have read came from the central thesis that America can feasibly (in terms of technology and economics) get 45% (so not quite half) of its power supply from solar energy alone by 2050.
Despite the world of progress, the solar industry has made from failing to be even a blip on the radar as recently as 2010, this amount of solar penetration would still represent a mobilization the world has never seen before: solar in the United States today represents less than 3% of total generation. According to the Energy Information Administration, the business-as-usual forecasts predict that solar would only reach 20% of all power generation by 2050.
Given these facts, the conclusions from the DOE Solar Futures Study represent more than doubling that market share. So, how does this study end up reaching that conclusion?
The Solar Futures Study was produced by the Solar Energy Technologies Office in conjunction with the National Renewable Energy Laboratory, both under the umbrella of the U.S. Department of Energy. Even if you’re no energy wonk yourself, the DOE Solar Futures Study (or at least the executive summary) is worth a read. The notable assumptions and conclusions behind that noteworthy 45% solar by 2050 figure include the following:
The key point to note in all the above, and what your friends on Facebook may have overlooked before resharing or commenting, was that this was a study about what was possible or feasible. This study did not amount to a mandate, nor even a forecast of what was expected to happen under a business-as-usual scenario. The headlines that suggested this study amounted to Biden requiring or predicting nearly half of energy would come from solar are not telling the full story. The outcomes of this study certainly paint the types of aspirations the administration holds, but these goals will not be met without aggressive action behind them.
That said, the way the U.S. energy policy tends to work is that this study could very well be the first step towards those necessary actions: put out the science, receive feedback (both positive and negative), and use that dialogue that as an outline of what might be possible to mandate or fund in the future. This study could then be the reference point for future orders or legislation. Given that possibility, the conclusions of this study are still important for energy stakeholders to read, react, and consider. As noted, the study highlighted what was needed policy-wise to change before such a solar future to come into fruition, as lofty declarations beget ambitious goals perhaps beget aggressive success. But what the realities will be in terms of action and results both remain to be seen.
Clean energy is becoming more important to stakeholders across the grid, not just because governments are mandating or incentivizing it, but because power providers are recognizing that doing so is the lower cost option in the long run. This clean energy transition is also the best way for the energy sector to prevent the worst impacts of the climate crisis.
Customers in the electricity supply chain are among the biggest drivers of clean energy demand, including solar, which is why the availability of deregulated markets that allow customers to choose power providers more deeply committed to a solar future is important. For example, if you are in New York, New Jersey, Pennsylvania, Ohio, Illinois, Maryland, Connecticut, Massachusetts, and Washington DC, Atlantic Energy is one of the options you may have as an alternative energy provider. Contact us today to learn if you’re eligible and find out what great programs, prices, and clean energy services we can offer you thanks to the system of energy choice!
The perennial favorite for barbecue grills, propane is also a versatile and convenient fuel with a wide range of applications. Many Americans are turning to propane to serve as the primary energy source in their homes. There are many reasons for switching from electricity, heating oil and natural gas. Let's drill down on the benefits of using propane as your prime household fuel.
According to the 1990 Clean Air Act, propane is safe, efficient and ecologically friendly. While it is a petroleum byproduct, it burns much cleaner than other fossil fuels. Propane contains less carbon than gasoline, diesel, fuel oil, kerosene or ethanol, thus producing significantly lower greenhouse gas levels than other options.
Propane packs a considerable punch, containing a lot more potential energy than most other burning fuels. A little can go a long way. Although propane is one of the ingredients found in natural gas, pure propane burns slower and hotter than natural gas. Propane can heat a water tank in a third of the time that an electric heat source could take.
Propane is also safer for the environment, as it's not toxic and won't contaminate groundwater. If it leaks or gets spilled, it simply dissipates into the air. Since there is a lot of energy concentrated into a small amount of propane, you don't need to burn as much of it as other hydrocarbon-based fuels, therefore less greenhouse gas gets emitted. Some propane furnaces on the market can operate at very high efficiency.
It's usually extracted in liquid form, referred to as LPG, liquefied petroleum gas. In its liquid state, it is much easier to store and transport than gas. This makes it the perfect off-grid fuel source, and it takes on hero status when some kind of traumatic event shuts down the entire public power supply. Propane-fuelled generators are reliable and operate quietly.
Users can purchase propane by the truckload, for providing the power to heat and run a house, or in small cylinders to fuel a grill or to keep on standby in an area that is subject to severe seasonal weather events like floods or hurricanes.
If you're considering converting to propane for heating your home and powering your appliances, first check the prices in your area. While there are myriad benefits to using propane as a primary energy source for your home, it is not the cheapest option on the market. The good news is that prices fluctuate with the cost of other petroleum products.
You will need a tank of considerable size in which to store your propane. On average, a 500-gallon tank will need to be refilled a couple of times per year. Inquire about discount suppliers, and keep in mind that renting a tank usually means you are locked into a single supplier for your propane deliveries. To maintain your ability to shop around for better propane prices, you will want to own your tank.
Before you take the plunge and convert to propane, make sure you are an informed consumer.
Storing your propane supply outdoors is a must. Propane is heavier than natural gas and not as quick to dissipate into the air. While accidents are rare, most of them are due to leakage, often from improperly maintained equipment. In its gaseous state, propane can fill an enclosed space without warning and either ignite from a stray spark or replace the available air, making it difficult to breathe.
If properly combusted, propane emits little carbon monoxide. However, if you have an older furnace that is not thoroughly burning the propane, carbon monoxide could build up to dangerous levels.
Using propane safely is quite simple:
Regardless of which energy source you use, it's always a good idea to have the professionals from Atlantic Energy come in and perform a home energy audit. Optimize your energy efficiency and talk to us about alternative energy options. Contact us anytime at stg-atlanticenergy-staging.kinsta.cloud and ask us about propane conversion or any other energy questions you might have.
We have the power to help you.