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Electricity and heat on demand: Switzerland to transition to net-​zero energy system by 2050

Switzerland aims to transition to a net-​zero energy system by 2050. It will need to replace fossil fuels

with renewable energy resources such as solar and wind power.

The government of Switzerland has announced its intention to shift the nation’s energy infrastructure away from fossil fuels and towards renewable energy sources such as solar and wind power. The goal is to achieve ‘net-zero’ emissions by 2050.

 

 
 

Switzerland aims to transition to a net-​zero energy system by 2050. It will need to replace fossil fuels with renewables to meet this goal. The Swiss government has also decided to phase out nuclear power.

As a result, Swiss plans for carbon neutrality will require not only the electrification of transport and heating by means of electric vehicles and heat pumps, but also measures to compensate for the loss of nuclear generating capacity. To meet increased energy demand, Switzerland will primarily rely on hydro and photovoltaic energy sources and wind power to a lesser extent.

Large batteries to store energy from renewable sources help keep the lights on and the electric grid resilient. Image credit: Ken Kistler via PublicDomainPictures.net, CC0 Public Domain

But what about the times when the sun doesn’t shine and the wind doesn’t blow? “The grid has to constantly smooth out fluctuations in renewable generation and match supply to demand,” says Gabriela Hug, a professor at the Power Systems Laboratory at ETH Zurich. Hug also heads up the ETH Energy Science Center (ESC), which recently released modelling showing that a renewable energy system is both technically feasible and economically viable.

“Obviously, it won’t be simple,” Hug acknowledges. “And without effective energy storage, the transition to renewables won’t even be possible.” Energy storage systems stabilise the grid, providing the necessary capacity to offset the volatility of generation from renewable sources such as solar, wind and hydro. This requires technologies that are able to efficiently convert electricity and heat into a form that can be stored and then released back into the grid when needed – whether on a seasonal or minute-​by-minute basis.

If Switzerland starts investing more in photovoltaics, it will end up generating more power than it needs at noon on a summer’s day. To make that midday solar power available both day and night, it needs short-​term storage solutions. “But Switzerland’s biggest challenge is actually long-​term storage,” says Hug.

The country already produces too little electricity in the winter and relies on imports to cover increased demand – and this seasonal imbalance will only intensify as the transition to renewables gathers pace. “Photovoltaic plants in particular generate surplus electricity in the summer,” says Gianfranco Guidati, an expert in energy system modelling at the ESC. “But in winter the sun is weaker and heat pumps are keeping people’s homes warm – that’s when we see a gap between energy supply and demand.”

The key question for Switzerland is how to store this excess solar power from the summer to the winter. With demand for storage systems clearly growing, Hug argues that the safest approach is to invest both in established and emerging technologies: “We still haven’t come up with the perfect energy storage solution.”

Yet energy storage shouldn’t be seen as an end in itself, says Guidati: “Switzerland’s goal is to achieve net-​zero greenhouse gas emissions by 2050. Storage is crucial, but it’s not the only way to help us meet that goal.” He believes we should tap into indirect methods of energy storage as well as physical storage capacity. “We need to take a mixed approach,” he says. The following pages present some of the methods that might feature in this mix.

Run-​of-river and pumped storage as buffer reserves

Robert Boes, ETH Professor of Hydraulic Engineering, sees hydropower as the backbone of the Swiss electricity system: “Hydro is our most important green energy asset, making up about 60 percent of our renewable generation. Its ability to store power also plays a key role in our net-​zero strategy.”

Run-​of-river hydropower plants channel water directly into electricity-​generating turbines to supply renewable base-​load power. These kinds of plants have no storage function, unlike reservoir plants, which can store water to provide flexible generating capacity on demand. The large reservoirs in the Alps primarily serve as a form of seasonal energy storage. “The rain and melt water they collect in the spring and summer can be used to generate electricity in the winter,” says Boes. Yet, however much power these large lakes generate, they are still unable to store any of it.

Only pumped-​storage plants have the ability to store electricity. They do this by pumping water from a lower to an upper reservoir and then emptying the upper reservoir through the turbines to generate electricity on demand. Currently, hydroelectric pumped storage is the only proven technology for the capture and release of large amounts of electricity. It offers powerful and flexible storage capabilities – and that makes it the perfect choice for balancing the day-​to-day and day-​night variability of photovoltaic power generation. Nonetheless, its capacity does not stretch far enough to resolve seasonal variations in electricity generation.

One way to reduce the winter energy gap is to build more reservoirs, but this approach is controversial. Such projects often run counter to nature conservation goals and meet resistance. “I don’t think this option shows much promise,” says Boes. “Hydropower is a mature and very efficient technology, but not enough attention has been paid to environmental aspects such as responsible water management.”

Researchers at ETH Zurich’s Laboratory of Hydraulics, Hydrology and Glaciology (VAW) are currently seeking ways to make hydropower more eco-​friendly. Examples include improved bypass tunnels for sediment, and fish ladders to steer fish safely past reservoir inlets and turbines. “Hydropower won’t gain widespread acceptance until it does more to protect biodiversity,” says Boes.

Decentralised small-​scale storage

In the grid itself, batteries can act as a kind of miniature pumped-​storage unit. If we have more decentralised systems generating electricity on people’s rooftops in the future, we will need distributed small-​scale storage devices to perform local network balancing. Much like pumped-​storage systems, batteries can be used to rapidly balance generation and demand. “Because battery size can be easily tuned to the application, they’re suitable for use as decentralised energy-​storage devices in buildings,” says ETH professor Vanessa Wood.

When combined with photovoltaic panels, batteries can take pressure off the grid by offering local storage of excess electricity for a matter of minutes or hours. If all the solar power generated at peak times in residential areas were to be fed to the limited number of pumped-​storage hydropower plants in the mountains, however, this could lead to bottlenecks in the grid.

 In the rapidly evolving battery market for homes and electric vehicles, the latest developments include the first community-​scale batteries designed to balance short-​term power fluctuations on a neighbourhood level. “The next key step is to make batteries even more efficient so that they can complete more charge cycles before losing performance,” says Wood, who conducts research to understand the limitations of existing batteries and demonstrate novel battery concepts. “At the same time, we must find substitutes for problematic raw materials and develop methods to recycle batteries at low cost, without using too much energy.” Researchers all over the world are already working on solutions.

Seasonal thermal energy storage

In an ideal energy system, we would use surplus solar power produced in summer to meet the increased demand for heating in winter. Storing large amounts of electricity over a period of several months is not yet financially viable, but there is one way of transferring summer sunshine to the winter months: thermal energy storage. “Cost-​effective technology is already available, and it’s well-​established in countries such as Denmark,” says Guidati. Yet thermal energy storage remains a relatively neglected topic in Switzerland.

Seasonal thermal energy storage (STES) technology captures heat in summer and releases it in winter. It requires large heat reservoirs such as basins, tanks or water-​bearing layers underground. These store warm water that is heated in summer by means of heat pumps and surplus solar power. By shifting the production of heat to the summer months, STES systems reduce electricity demand in the winter and help to reduce the energy gap. Guidati believes thermal energy storage will play an important role in Switzerland in the future.

Storage in energy carriers

There is only one way to store electricity indefinitely, at least for the foreseeable future. “If we ever reach a point in summer where we’ve exhausted all the short-​term storage options and still have surplus electricity available,” says Guidati, “then – and only then – should we consider converting it into a storable energy carrier.” He’s referring, of course, to the great hydrogen debate.

The idea is to use excess power to electrolyse water into hydrogen and oxygen. The hydrogen could then be stored in a suitable form and converted back into heat and electricity in the winter by means of a gas turbine or fuel cell. Alternatively, the hydrogen could be combined with captured CO2 to produce synthetic methane. This not only has a higher energy density but can also be fed directly into the existing gas grid. Just one additional step is all it takes to obtain carbon-​neutral liquid fuels for aviation or shipping.

“As yet, none of these methods are established and many are not financially viable,” says Hug. Syngases could certainly serve as a long-​term storage medium for solar power produced in summer, but most of the methods used to convert them back into heat and electricity are inefficient.  “The most efficient way to use excess electricity is to shift it directly into some other channel like charging electric vehicles,” says Hug. Nevertheless, she considers synfuels viable for applications that are difficult to electrify.

Gravity batteries and compressed-​air energy storage

When it comes to short-​term energy storage, pumped-​storage hydropower plants and batteries are not the only option. Gravity batteries store potential energy and then convert it into electricity, much like pumped-​storage systems. But instead of using water, they store potential energy in a mass that is raised and lowered by a crane, for example.

Compressed-​air energy storage systems are another alternative, though a slightly less efficient one. They work by pumping air into a reservoir or vessel to produce compressed air; this can then be used to drive a gas turbine to compensate for load imbalances in the grid quickly. Although a certain amount of heat is lost during compression, most of the heat produced can be recovered by storing and making it available again when unloading.

A more efficient – but also more expensive – option is a flywheel: these are closer to batteries in terms of capacity, but they store energy in the form of rotational kinetic energy for just a few minutes at a time, once again to help stabilise power grids.

Smart power networks

All the researchers are keen to emphasise that physical storage systems are not the only option. There are also other approaches that act indirectly like storage and help make the system more flexible. For example, digitalised and automated power grids could monitor generation and consumption in real time to make the best use of available resources. “In the future, smart grid control will enable us to operate power networks closer to their maximum limits,” says grid expert Hug. If done successfully, this will make the system more efficient and reduce the need for operating reserves.

Demand must also become more flexible so that we can make the most of the electricity available at any given point in time. Smart load management can help reduce the need to store electricity, says Guidati, citing the example of e-​mobility: “Electric vehicles are mobile batteries that can help absorb peaks in photovoltaic generation in the daytime.” This requires charging stations to be deployed in locations where vehicles typically spend the day, such as workplaces, car parks and parking spaces close to the city centre.

Imported energy

According to the ESC’s calculations, Switzerland will also need to expand its electricity production in winter. As well as building up hydropower reserves, this will also mean investing in alpine photovoltaic plants, geothermal power, or gas-​fired power plants operating on biogas or syngas. Yet Hug rejects the idea of self-​sufficiency, because any attempt by Switzerland to meet all its own electricity needs would be both inefficient and hugely expensive.

Switzerland will therefore continue to generate less electricity than it needs, which will mean a continuing dependence on imported energy. “Our models show that a secure and affordable energy system also requires smooth and effective power transfers to and from nearby countries,” says Hug.

Unlike Switzerland, Northern Europe has plenty of electricity in winter because countries such as Denmark have invested heavily in wind power generation, which peaks in winter. Switzerland could therefore import wind power in winter and export solar power in the form of pumped-​storage hydropower in summer to quickly correct load imbalances in the grid.

This is a sensible approach because everyone benefits when countries balance out their different generating capacities through electricity trading. However, the lack of an electricity agreement makes cross-​border electricity trading with the EU difficult. “That’s why regulated access to the European electricity market would be such an important step for Switzerland,” says Hug.

Suppose it is to make a successful transition to renewables. In that case, Switzerland will need not only a broad mix of technologies, but also a blend of solutions ranging from decentralised energy production to international trading agreements.

Source: ETH Zurich

 

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IBM misses first quarter revenue estimates; cuts growth forecast to 6%-8%

IBM, a US-based technology giant, announced on Thursday that its revenue for the first-quarter (Q1) 20 The revenue figures were lower than Wall Street’s estimates of $14.35billion, but the earnings per share (EPS IBM’s targets were met in the first quarter as both its software and consulting businesses grew by 6% and 8.2% Big Blue also reiterated their full-year forecast of free cash flow of $10.5 billion.

Cognizant Technology Solutions Corp cut its 2022 forecast in November due to a decline in contracts. IBM’s “We are heavily reliant on our teams, particularly our global innovation centers. Granger said that India has never been about labour arbitrage, but rather a talent play. IBM Consulting contributed to This segment was rebranded in 2021 from IBM Global Business Services prior to IBM’s separation with Kyndryl.

Analysts say that the offering is in direct competition with IT services giants Accenture and TCS when it comes to large Keep up with the latest technology and startup news. 

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Crypto firms scramble to find banking partners as willing lending partners dwindle

After the collapse of Silvergate Capital Corp., Signature Bank, and Silicon Valley Bank, U.S. regulators expressed concern about the safety and soundness business models of banks that are heavily focused on crypto clients. U.S. regulators also warned banks to be on the lookout for any liquidity risks posed by crypto-related deposits. These deposits could be subjected to rapid outflows if clients try to redeem their crypto-assets for real money. “Crypto- and Web3-start-ups tell us they cannot get a bank account for their business,” said Marcus Foster. He is the head of crypto policy at Coadec. Foster said that the issue has gotten “significantly worse” in recent months.

This has forced digital asset companies to look for smaller financial institutions located in remote corners of the global finance. Discover the stories that interest youBlockchain5 StoriesCyber safety7 StoriesFintech9 StoriesEcomm9 StoriesML8 StoriesEdtech6 StoriesA FV Bank spokesperson said the bank has seen a rise in inquiries in recent weeks despite not being insured by the Federal Deposit Insurance Corp. A spokesperson for Bank Frick in Liechtenstein said that it had also seen a “significant” increase in account requests, with the majority of inquiries coming from companies in Europe, Singapore, and Australia.

However, the bank is not purely focused on crypto and has a broadly diversified business model, the spokesperson said.Switzerland-based Arab Bank told Reuters in March it had seen an increase in U.S. firms, mostly crypto funds or those involved in crypto venture capital, seeking to open accounts, but that the bank was unlikely to accommodate all of them. While ZA Bank, a Hong Kong digital bank, reported that it had received four times as many enquiries from crypto firms after Silicon Valley Bank collapsed, it stated that it would only accept firms with a license to trade virtual assets. Nikki Johnstone is a partner with Allen and Overy in London.

She said that the “concentration risks” that come from a growing clientele seeking business from smaller firms are the “biggest challenges” of having fewer crypto banking options. She said that this increased expectation places more pressure on the firm to manage and monitor risks at a higher level. Cryptocurrency firms need banks to hold their customers’ dollar deposits, and to conduct day-to-day operations. “Of course, the motto of crypto says ‘we’re going to replace banks’. But first, we’re not there yet and I don’t think we’ll be there ever,” said Paolo Ardoino. He is the chief technology officer at Tether, which is the largest stablecoin in terms of market capitalisation.

Its reserves were previously the subject of investor scrutiny. ‘TOP TEN’ Several top banks have told Reuters they are turning away most crypto-related clients, while others say they only work with top-tier companies – policies they maintain are unchanged since their past positions. According to a source with knowledge of the situation, JPMorgan Chase does not accept any crypto-related clients anywhere in the globe, except for Coinbase which has revealed that it deposits its customers’ funds with the bank. This policy has been in place for a long time. Circle, the principal US Dollar Coin issuer, has a portion its reserves held by BNY Mellon.

A spokesperson for ING stated that the bank does “not target or focus actively on cryptocurrency firms” and therefore its exposure is “very low.” Allen and Overy’s Johnstone, a lawyer with the firm, said that banks are often cautious because of the increased money-laundering risks in the crypto sector and the lack of robust crypto regulations. Circle, the principal USD Coin issuer, holds a portion its reserves at Customers Bank. Gemini, on the other hand, says it holds reserves for its stablecoins at State Street Bank and Goldman Sachs. Coinbase has revealed that it deposits funds for its customers at Cross River Bank, in addition to JPMorgan Chase.

Ricardo Mico is the U.S. CEO at Banxa. Banxa provides payment and compliance infrastructure for crypto. “There is a concern over the lack of banking partners in the market, especially for smaller and less-proven enterprises,” he said. (Reporting from Elizabeth Howcroft in London, Hannah Lang in Washington, with additional reporting by Mehnaz Yassin and Georgina Le; editing by ElisaMartinuzzi and Sharon Singleton.) Stay on top of the latest technology and startup news.

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National Quantum Mission to be funded at Rs 6K crore by the Centre

The mission will have an outlay of Rs 6,003,65 crore from 2023-24 to 2030-31 and will make India the sixth country with a dedicated quantum mission after the US, Austria, Finland, France and China, science and technology ministerJitendra Singhtold reporters in New Delhi. Science and Technology MinisterJitendra Singh told reporters in New Delhi that the mission will have an outlay of approximately Rs 6,003,65 crore between 2023-24 and 2030-31. This will make India the sixth nation to have a quantum mission, after the US and Austria.

The National Quantum Mission, approved by the Union Cabinet under the leadership of Prime Minister Narendra Modi will accelerate quantum-technology-led economic growth in India and nurture the ecosystem. Singh joked that the NQM will give India a quantum leap in this area. CP Gurnani, CEO ofTechMahindratweeted, “A welcome move! The National Quantum Mission is expected to accelerate India’s tech progress, increasing India’s credibility and ability in quantum computing. @tech_mahindra We are deeply invested in Quantum and it’s encouraging that the government is putting so much focus on this technology.

“Singh said that the mission will develop magnetometers and atomic clocks for precise timing, communication and navigation. The deep ocean mission, Space, drones, and remote sensing policies, supercomputing, cyber-physical missions, the Thirty Meter Telescope and LIGO, as well as the impending NRF will advance fundamental research in the coming year. “Raman Research Institute in Bengaluru tweeted: “RRI is thrilled at the launch of National Quantum Mission. We look forward in continuing to work for the nation on pathbreaking quantum technology”. Urbasi Sinha, who heads the Quantum Information and Computing Laboratory (QuIC) at RRI, tweeted: “RRI is at the forefront of India’s quantum technology research.” I personally worked on the DPR, and am excited about the prospects it holds for me as a scientist, for the institute, and for the nation.

The mission can bring the technology development eco-system in the country up to a global competitive level. The mission will benefit the communication, health, financial, energy, drug design, and other space applications. It will also provide a boost to National Priorities like Digital India. Make in India. Skill India. Stand-up India. Self-reliant India. “We know that quantum keys that use quantum principles are secure and can withstand attacks from hackers. There needs to be fundamental changes at the network level, for infrastructure and hardware devices which generate these keys. He said that this is an area that must be investigated for defence-based installation.

Quantum machine learning can be used for satellite placements – with the increasing debris and satellites orbiting Earth, quantum optimization techniques are helpful in satellite placements – and weather analysis. He said that precise quantum hardware could be used to detect earthquakes and other geological phenomena. Malhotra, who spoke about quantum education, said that in order to make India a hub for quantum, it is important to focus on improving and imparting education at all levels.

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PlanSource Celebrates its continued growth in India

PlanSource, the leading provider of US employee benefit technology, shared exciting updates on their plans for 2023, as well as recent recognitions regarding their operations in India. PlanSource has offices in several cities in the United States, as well as in Bengaluru in India. The India operations deliver an exceptional customer experience by scaling processes and providing coverage around the clock. PlanSource’s rapid expansion, increased product investment and market momentum led to more than 750 employer groups choosing PlanSource in 2022 as their benefits engagement platform.

The company now has more than 4,000 clients, five million employees and eight million users. PlanSource has grown rapidly under the leadership of Tom Signorello. This includes: A plus 47 NPS score for customers, and up-time metrics and call center metrics that exceeded SLAs. Launching new products, including ‘The Source,’ an employee engagement tool that increases benefit usage, improves the overall employee experience, and puts everything employees need in one convenient place, their mobile device.

PlanSource is expanding its industry-leading integrations portfolio by adding new HCM partners, such as Paylocity and SAP, carrier integrations like Aetna and a partner marketplace with 80+ valuable add-ons. Our values are based on implementing measurable ESG and DEI initiatives to create a sustainable future, a healthier planet and inclusive community. Establishing a Women in Tech and Leaders program globally PlanSource launched its Bengaluru operations in 2020.

The India office has made a significant contribution to product development and customer support. PlanSource, founded in 2008, employs 800 employees with more than 200 based in India. Tom Signorello said during his recent trip to India that “it is an exciting time for the benefits technology industry, as automation creates increased efficiency and the opportunity for a better end-user experience.” PlanSource is well positioned to continue to lead the industry, and we remain committed in furthering our mission to deliver the best customer experience. PlanSource encourages employees to be innovative and open. This can be done at many levels.

Process innovation extends beyond development to include Marketing, Sales and Operations, Finance and Human Resources. I am therefore excited by the contributions of India operations in developing industry leading products. Our India-based leadership team and talent contributed significantly to the launch of IQ decision support, which gives our customers measurable ROI (8x-12x). Recently, our India team developed Chatbot and Personalized Communication capabilities. I am excited to see these launched this week.

In our India operations, we have created a culture that is outstanding and focuses on diversity/inclusion. In 2023, we were awarded the “Great Place to Work” certification in India. Vista Private Equity recognized our India Center of Excellence for being the best CoE among their 70+ portfolio companies. We plan to continue to grow and look forward to the continued contributions from our India operation.” PlanSource is a trademark of PlanSource, Inc., as well as other trademarks owned by PlanSource. 

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Elon Musk announces he will launch a rival to Microsoft’s ChatGPT

Billionaire Elon Musksaid on Monday he will launch an artificial intelligence (AI) platform that he calls “TruthGPT” to challenge the offerings fromMicrosoftandGoogle. He criticised Microsoft-backed OpenAI, the firm behind chatbot sensation ChatGPT, of “training the AI to lie” and said OpenAI has now become a “closed source”, “for-profit” organisation “closely allied with Microsoft”.

He also accused Larry Page, co-founder of Google, of not taking AI safety seriously. Musk said, “I’m starting something that I call ‘TruthGPT,’ or a maximum truth seeking AI that tries understand the nature of universe,” in an interview aired Monday on Fox News Channel. He said TruthGPT was “likely the best path to security” and would not “annihilate human beings”. It’s just starting late. Musk registered a Nevada-based company named X.AI Corp last month, according to a filing with the state. Musk was listed as the sole director, and Jared Birchall as the managing director of Musk’s family office as secretary.

‘Civilizational devastation’ The move came after Musk and a team of artificial intelligence experts, including industry executives, called for a 6-month pause on developing systems that are more powerful than OpenAI GPT-4. They cited potential risks to the society. Musk reiterated his AI warnings during the interview with Carlson. According to the excerpts, “AI is more harmful than, for example, mismanaged airplane design, production maintenance, or bad car production.” “It could lead to civilizational destruction,” Musk said. He said that an AI super intelligent could write extremely well and manipulate public opinion. Musk co-founded OpenAI back in 2015.

He stepped down from its board in 2018. In 2019, Musk tweeted that he was leaving OpenAI to focus on Tesla, SpaceX and other projects. He also tweeted that he left OpenAI because he had to focus on Tesla and SpaceX. Musk, CEO of Tesla, SpaceX and Twitter, has become CEO of Twitter. He bought the social media platform for $44 billion in 2013. Musk told Fox News that he valued Twitter recently at “less than 50%” of its acquisition price.

Microsoft Corp announced in January that it would invest a further multi-billion dollars in OpenAI. This investment will intensify the competition with Google and fuel the race for AI funding in Silicon Valley. 

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