About a year ago, I wrote a post on heat pumps suggesting they weren’t going to live up to the promise and ambitions of their supporters because they were too expensive and their optimal operating conditions were a rarity rather than the norm. This month, we learned that heat pump sales in Europe are dropping. Everyone’s surprised, of course.
Also this month we learned that the absence of enthusiastic demand for EVs has started to really bite, with carmakers including Ford, Mercedes, Stellantis, and Nissan reporting massive losses on their EV sales that have dragged down their overall earnings. Again, it’s a big surprise. For some.
More bad news is coming from wind power, and I’m not even talking about the turbine breakages, I’m talking about a slump in output that’s seen a surge in gas generation in the United States. Because the wind’s just not blowing, which happens frequently during the summer.
Meanwhile, the UN is going after carbon credits because the good climate people at the organisation feel those are stopping companies from actually reducing their own emissions — which is precisely the reason for the existence of carbon credits. I wonder what gave them a clue.
It has been a bad month for the transition and things are going to get worse in the coming months. A lot worse. It’s the backfire of the century and that’s not an exaggeration.
Keep reading with a 7-day free trial
Subscribe to Irina Slav on energy to keep reading this post and get 7 days of free access to the full post archives.