The unexpected reason you may not want to buy a new car, according to Consumer Reports data

If you’re looking to buy a car, experts will generally tell you to look for a pre-owned model to save money. As many as 45% of those new or redesigned models had below-average predicted reliability, according to the latest Consumer Reports auto reliability survey of more than 420,000 vehicles. Reliability can affect how satisfied consumers are with it and its eventual resale value, the report points out. In other words, vehicles that were recently redesigned or reintroduced to the market general


If you’re looking to buy a car, experts will generally tell you to look for a pre-owned model to save money.
As many as 45% of those new or redesigned models had below-average predicted reliability, according to the latest Consumer Reports auto reliability survey of more than 420,000 vehicles.
Reliability can affect how satisfied consumers are with it and its eventual resale value, the report points out.
In other words, vehicles that were recently redesigned or reintroduced to the market general
The unexpected reason you may not want to buy a new car, according to Consumer Reports data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: sam becker
Keywords: news, cnbc, companies, vehicles, data, vehicle, reason, tend, car, consumer, reports, unexpected, according, youre, redesigned, generally, reliability, consumers, buy, cars, reliable


The unexpected reason you may not want to buy a new car, according to Consumer Reports data

If you’re looking to buy a car, experts will generally tell you to look for a pre-owned model to save money. But if you’re heart is set on driving a shiny new car off the lot, there’s another reason you may want to exercise caution: It could be less reliable than you’d think.

As many as 45% of those new or redesigned models had below-average predicted reliability, according to the latest Consumer Reports auto reliability survey of more than 420,000 vehicles. CR defines reliability as how well vehicles have held up and how typical it is for repairs and other issues to crop up.

Reliability can affect how satisfied consumers are with it and its eventual resale value, the report points out. So, for consumers, choosing an unreliable vehicle may mean spending thousands of dollars in unexpected repairs and maintenance, and seeing a faster rate of depreciation, lowering the vehicle’s value.

Here are a couple of the key takeaways from the report:

Vehicles tend to be the most reliable in the final year(s) of their production run. In other words, vehicles that were recently redesigned or reintroduced to the market generally are generally less reliable.

Foreign brands, particularly those from Asian markets, tend to be more reliable than their European or American counterparts.

Ronald Montoya, the senior consumer advice editor at Edmunds, says that new and redesigned cars usually have new engines and components that engineers may not have perfected yet, resulting in lower reliability scores. These kinks tend to get resolved the longer these models are in production, with reliability scores rising in succeeding years.

Montoya also says that it’s worth digging into reviews and ratings when you’re deciding what vehicle to buy. Some consumers become frustrated with new technology in some cars, prompting complaints that are more about their user experience than the car’s function. For example, touchscreens, automatic braking, and self-parking features can confuse people who’ve never encountered them before.

“Sometimes when a new vehicle is launched, there’s a whole new way of interfacing with it,” he says. “A lot of people can’t quite grasp it and get frustrated with it and see it as a deficiency with the vehicle.”

Consumer Reports’ findings do influence automakers’ decisions to some degree. Tesla, for example, made improvements to two of its vehicles following a drop in rankings in 2018.


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: sam becker
Keywords: news, cnbc, companies, vehicles, data, vehicle, reason, tend, car, consumer, reports, unexpected, according, youre, redesigned, generally, reliability, consumers, buy, cars, reliable


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Agriculture secretary says Trump wants a US-China trade deal that’s ‘enforceable’ and ‘reliable’

President Donald Trump only wants a “phase one” trade deal with China that works for the United States, Agriculture Secretary Sonny Perdue told CNBC on Wednesday. In comments from this week’s NATO summit, Trump said Wednesday that China trade talks are going well — just one day after suggesting he may want to delay a China trade deal until after the 2020 presidential election. “We in agriculture are optimistically hopeful we can conclude this,” Perdue said, reiterating concerns from some Trump o


President Donald Trump only wants a “phase one” trade deal with China that works for the United States, Agriculture Secretary Sonny Perdue told CNBC on Wednesday.
In comments from this week’s NATO summit, Trump said Wednesday that China trade talks are going well — just one day after suggesting he may want to delay a China trade deal until after the 2020 presidential election.
“We in agriculture are optimistically hopeful we can conclude this,” Perdue said, reiterating concerns from some Trump o
Agriculture secretary says Trump wants a US-China trade deal that’s ‘enforceable’ and ‘reliable’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, trump, wants, deal, tariffs, uschina, china, enforceable, billion, trade, agriculture, farmers, perdue, reliable, secretary, thats


Agriculture secretary says Trump wants a US-China trade deal that's 'enforceable' and 'reliable'

President Donald Trump only wants a “phase one” trade deal with China that works for the United States, Agriculture Secretary Sonny Perdue told CNBC on Wednesday.

“Trump wants to conclude a deal that can be enforceable, that can be reliable and be consistent with what the deal says,” said Perdue, who appeared on “Squawk Box” shortly after Bloomberg reported that the U.S. and China were edging closer to finalizing an agreement before new U.S. tariffs go into effect against Chinese goods on Dec. 15.

In comments from this week’s NATO summit, Trump said Wednesday that China trade talks are going well — just one day after suggesting he may want to delay a China trade deal until after the 2020 presidential election.

Perdue said the trade war, which has seen escalating tariffs on both sides for more than 15 months, has actually been been going on for the past 20 years. “We just didn’t recognize it until President Trump decided to reset the arrangement.”

Beijing and Washington have placed retaliatory tariffs on billions of dollars of each other’s goods, a move that’s hit U.S. farmers. Nearly $20 billion in U.S. agricultural exports went to China last year.

“We in agriculture are optimistically hopeful we can conclude this,” Perdue said, reiterating concerns from some Trump officials that China won’t follow through on its promises.

Farmers were looking for some relief in the phase one deal, announced by Trump in October. Though would not signed, Trump said the deal will include purchases of about $40 billion to $50 billion worth of farm products by China.

The U.S. Department of Agriculture in July also authorized up to $12 billion in aid to help farmers who have been harmed by the retaliatory tariffs. However, farmers are looking for a permanent deal rather than help from the White House.

“Every farmer in America would rather have trade than aid,” Perdue said.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, trump, wants, deal, tariffs, uschina, china, enforceable, billion, trade, agriculture, farmers, perdue, reliable, secretary, thats


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Agriculture Sec. Perdue: Trump wants an enforceable, reliable China trade deal

Agriculture Sec. Perdue: Trump wants an enforceable, reliable China trade dealAgriculture Secretary Sonny Perdue joins “Squawk Box” to discuss the latest on the U.S.-China trade negotiations and how it’s affecting the U.S. agriculture community.


Agriculture Sec.
Perdue: Trump wants an enforceable, reliable China trade dealAgriculture Secretary Sonny Perdue joins “Squawk Box” to discuss the latest on the U.S.-China trade negotiations and how it’s affecting the U.S. agriculture community.
Agriculture Sec. Perdue: Trump wants an enforceable, reliable China trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04
Keywords: news, cnbc, companies, trump, wants, deal, uschina, china, enforceable, sonny, trade, sec, agriculture, perdue, squawk, reliable, secretary


Agriculture Sec. Perdue: Trump wants an enforceable, reliable China trade deal

Agriculture Sec. Perdue: Trump wants an enforceable, reliable China trade deal

Agriculture Secretary Sonny Perdue joins “Squawk Box” to discuss the latest on the U.S.-China trade negotiations and how it’s affecting the U.S. agriculture community.


Company: cnbc, Activity: cnbc, Date: 2019-12-04
Keywords: news, cnbc, companies, trump, wants, deal, uschina, china, enforceable, sonny, trade, sec, agriculture, perdue, squawk, reliable, secretary


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A key manufacturing index shows the US remains in contraction territory

Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday. Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. In a related release, the Markit manufacturing reading, known as the Purchasi


Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.
Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations.
The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival.
In a related release, the Markit manufacturing reading, known as the Purchasi
A key manufacturing index shows the US remains in contraction territory Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jeff cox
Keywords: news, cnbc, companies, growth, reliable, points, expansion, territory, contraction, orders, manufacturing, reading, report, key, ism, remains, trade, index, shows


A key manufacturing index shows the US remains in contraction territory

Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.

The reading came in at 48.1 vs. an expectation of 49.4 and the previous month’s reading of 48.3.

Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. A reading below 50 represents contraction; November was the fourth straight month below the expansion level.

Stocks fell on the report, with the Dow Jones Industrial Average off more than 150 points at 10:30 am ET.

New orders slumped to 47.2, down 1.9 percentage points from October’s 49.1. Inventories, which are a key input for gross domestic product, came in at 45.5, down 3.4 points from the previous month.

The numbers come amid speculation about the pace of U.S. growth.

Recession worries have ebbed from earlier in the year, when the Treasury yield curve was inverted and flashing what has been a reliable 12-month recession indicator for the past 50 years. GDP growth has averaged around 2.4% in 2019, with the third quarter coming in at 2.1%. However, most forecasters expect the fourth quarter to come in under 2%.

The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. This will weigh on job growth and capex over the next few months, to the point where we are not ready to rule out a further [Federal Reserve] easing in January,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note.

Manufacturing is considered a reliable bellwether for how the rest of the economy is doing, though it comprises only about one-fifth of GDP.

Nearly all of the key ISM indicators were at contraction levels in November.

Employment was at 46.6, down 1.1 point for the month, while export orders fell 2.5 points to 47.9 as the U.S. and China continue to look for a resolution to a trade dispute that began more than a year and a half ago.

Supplier deliveries was one of the few metrics in expansion, rising 2.5 points to 52.

In a related release, the Markit manufacturing reading, known as the Purchasing Managers Index, indicated expansion, coming in at 52.6, just above expectations and a bit better than the 51.3 October reading.

The Markit PMI growth reflected an uptick in production and new orders as well as strength in employment indicators. It was the strongest reading in seven months.

Investors will get a close look Friday at the impact the manufacturing slowdown and trade war have had on the broader economy. The Labor Department’s nonfarm payrolls report comes down that day, with economists surveyed by Dow Jones expecting a sharp rebound in growth to 187,000 from November’s 128,000.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jeff cox
Keywords: news, cnbc, companies, growth, reliable, points, expansion, territory, contraction, orders, manufacturing, reading, report, key, ism, remains, trade, index, shows


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Consumer Reports puts Tesla back on recommended list as reliability improves

Tesla, which has been accused of sacrificing quality as it ramps up production of the Model 3, is cranking out more reliable vehicles, according to a new survey from Consumer Reports. Improved reliability reports from owners of the Model 3 and the Model S were enough to convince Consumer Reports to once again recommend both vehicles as reliable, a designation the organization pulled last year. Overall, the Tesla brand jumped four spots in the latest Consumer Reports reliability survey, which is


Tesla, which has been accused of sacrificing quality as it ramps up production of the Model 3, is cranking out more reliable vehicles, according to a new survey from Consumer Reports.
Improved reliability reports from owners of the Model 3 and the Model S were enough to convince Consumer Reports to once again recommend both vehicles as reliable, a designation the organization pulled last year.
Overall, the Tesla brand jumped four spots in the latest Consumer Reports reliability survey, which is
Consumer Reports puts Tesla back on recommended list as reliability improves Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: phil lebeau
Keywords: news, cnbc, companies, improves, model, reliability, survey, rated, vehicles, reliable, consumer, list, puts, reports, tesla, recommended, theyve


Consumer Reports puts Tesla back on recommended list as reliability improves

Tesla, which has been accused of sacrificing quality as it ramps up production of the Model 3, is cranking out more reliable vehicles, according to a new survey from Consumer Reports.

“What we’ve seen with the Model 3 is that they had a lot of problems initially with paint, some body panel issues and a lot of windows that cracked, but over the few years that they’ve been building that vehicle they’ve worked those problems out,” said Jon Linkov, deputy auto editor at Consumer Reports.

Improved reliability reports from owners of the Model 3 and the Model S were enough to convince Consumer Reports to once again recommend both vehicles as reliable, a designation the organization pulled last year.

Overall, the Tesla brand jumped four spots in the latest Consumer Reports reliability survey, which is based on the reviews from owners of more than 400,000 vehicles. This year, Lexus was rated as the top brand for reliability, followed by Mazda and Toyota.

Tesla still ranks in the bottom third of the 30 auto brands rated by Consumer Reports, which said the Tesla Model X is among the least reliable models in the survey.

The quality of Tesla’s vehicles has come under scrutiny as the automaker ramped up production of the Model 3 over the last two years, even adding an assembly line under a permanent tent right outside the company’s plant in Fremont, California.


Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: phil lebeau
Keywords: news, cnbc, companies, improves, model, reliability, survey, rated, vehicles, reliable, consumer, list, puts, reports, tesla, recommended, theyve


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The lagging manufacturing sector may be about to rebound, according to a reliable indicator

Manufacturing activity has been contracting since the summer, according to the widely watched ISM manufacturing index, but that may be about to change. Natixis economist Joseph LaVorgna said the performance of semiconductor stocks has diverged sharply from the ISM recently, with the PHLX Semiconductor sector index (SOX) springing higher, while the ISM continues to point lower. Source: NatixisBank of America Merrill Lynch strategists also pointed to the rising SOX index as a signal that manufactu


Manufacturing activity has been contracting since the summer, according to the widely watched ISM manufacturing index, but that may be about to change.
Natixis economist Joseph LaVorgna said the performance of semiconductor stocks has diverged sharply from the ISM recently, with the PHLX Semiconductor sector index (SOX) springing higher, while the ISM continues to point lower.
Source: NatixisBank of America Merrill Lynch strategists also pointed to the rising SOX index as a signal that manufactu
The lagging manufacturing sector may be about to rebound, according to a reliable indicator Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: patti domm
Keywords: news, cnbc, companies, contraction, stocks, ism, sector, manufacturing, semiconductor, lagging, rebound, reliable, index, indicator, sox, according, lavorgna


The lagging manufacturing sector may be about to rebound, according to a reliable indicator

Chip stocks may be pointing the way to a rebound in the manufacturing economy.

Manufacturing activity has been contracting since the summer, according to the widely watched ISM manufacturing index, but that may be about to change.

Natixis economist Joseph LaVorgna said the performance of semiconductor stocks has diverged sharply from the ISM recently, with the PHLX Semiconductor sector index (SOX) springing higher, while the ISM continues to point lower. Typically the two move in tandem, and the divergence is unusual.

“There’s a massive gap between the two. … It suggests there should be some upside in the ISM,” he said. Chip manufacturers are economically sensitive, and they can improve and decline ahead of other sectors.

Source: Natixis

Bank of America Merrill Lynch strategists also pointed to the rising SOX index as a signal that manufacturing may be on the cusp of a rebound. “We are bullish macro,” they wrote. They said the surge in the SOX implies the ISM manufacturing index should be at a level greater than 55 over the next three months.

“These manufacturing cycles tend to be self-correcting. I’m guessing the sector self-corrects. The rest of the economy looks OK,” said LaVorgna, chief economist of the Americas. “Unless it leads to layoffs, which it hasn’t, it’s going to burn itself out.”

ISM manufacturing for October was 48.9, in contraction for a third month but improved over the 48.3 in September. Anything below 50 signals contraction. The November report is expected Dec. 2.

LaVorgna said he’s become convinced that the malaise in manufacturing will be short-lived since it is showing no sign of spreading into other parts of the economy. Manufacturing is also cyclical, and periods of contraction are normal during long business cycles, he said.

Source: Natixis


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: patti domm
Keywords: news, cnbc, companies, contraction, stocks, ism, sector, manufacturing, semiconductor, lagging, rebound, reliable, index, indicator, sox, according, lavorgna


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The lagging manufacturing sector may be about to rebound, according to a reliable indicator

Manufacturing activity has been contracting since the summer, according to the widely watched ISM manufacturing index, but that may be about to change. Natixis economist Joseph LaVorgna said the performance of semiconductor stocks has diverged sharply from the ISM recently, with the PHLX Semiconductor sector index (SOX) springing higher, while the ISM continues to point lower. Source: NatixisBank of America Merrill Lynch strategists also pointed to the rising SOX index as a signal that manufactu


Manufacturing activity has been contracting since the summer, according to the widely watched ISM manufacturing index, but that may be about to change.
Natixis economist Joseph LaVorgna said the performance of semiconductor stocks has diverged sharply from the ISM recently, with the PHLX Semiconductor sector index (SOX) springing higher, while the ISM continues to point lower.
Source: NatixisBank of America Merrill Lynch strategists also pointed to the rising SOX index as a signal that manufactu
The lagging manufacturing sector may be about to rebound, according to a reliable indicator Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: patti domm
Keywords: news, cnbc, companies, contraction, stocks, ism, sector, manufacturing, semiconductor, lagging, rebound, reliable, index, indicator, sox, according, lavorgna


The lagging manufacturing sector may be about to rebound, according to a reliable indicator

Chip stocks may be pointing the way to a rebound in the manufacturing economy.

Manufacturing activity has been contracting since the summer, according to the widely watched ISM manufacturing index, but that may be about to change.

Natixis economist Joseph LaVorgna said the performance of semiconductor stocks has diverged sharply from the ISM recently, with the PHLX Semiconductor sector index (SOX) springing higher, while the ISM continues to point lower. Typically the two move in tandem, and the divergence is unusual.

“There’s a massive gap between the two. … It suggests there should be some upside in the ISM,” he said. Chip manufacturers are economically sensitive, and they can improve and decline ahead of other sectors.

Source: Natixis

Bank of America Merrill Lynch strategists also pointed to the rising SOX index as a signal that manufacturing may be on the cusp of a rebound. “We are bullish macro,” they wrote. They said the surge in the SOX implies the ISM manufacturing index should be at a level greater than 55 over the next three months.

“These manufacturing cycles tend to be self-correcting. I’m guessing the sector self-corrects. The rest of the economy looks OK,” said LaVorgna, chief economist of the Americas. “Unless it leads to layoffs, which it hasn’t, it’s going to burn itself out.”

ISM manufacturing for October was 48.9, in contraction for a third month but improved over the 48.3 in September. Anything below 50 signals contraction. The November report is expected Dec. 2.

LaVorgna said he’s become convinced that the malaise in manufacturing will be short-lived since it is showing no sign of spreading into other parts of the economy. Manufacturing is also cyclical, and periods of contraction are normal during long business cycles, he said.

Source: Natixis


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: patti domm
Keywords: news, cnbc, companies, contraction, stocks, ism, sector, manufacturing, semiconductor, lagging, rebound, reliable, index, indicator, sox, according, lavorgna


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Reliable China insiders hint that this round of trade talks could lead to a ‘breakthrough’

This would mark the 13th round of trade negotiations after both sides slapping tariffs on billions of dollars worth of each other’s goods. “There’s more possibility of a breakthrough between the two sides,” said Hu Xijin in a tweet Thursday. Hu is editor-in-chief of the Global Times, a tabloid under the People’s Daily, which is the official newspaper of the Communist Party of China. His Twitter account has been followed by many Wall Street traders and market participants for insight on the trade


This would mark the 13th round of trade negotiations after both sides slapping tariffs on billions of dollars worth of each other’s goods. “There’s more possibility of a breakthrough between the two sides,” said Hu Xijin in a tweet Thursday. Hu is editor-in-chief of the Global Times, a tabloid under the People’s Daily, which is the official newspaper of the Communist Party of China. His Twitter account has been followed by many Wall Street traders and market participants for insight on the trade
Reliable China insiders hint that this round of trade talks could lead to a ‘breakthrough’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: yun li
Keywords: news, cnbc, companies, chinese, hint, xijin, breakthrough, worth, trade, insiders, official, tariffs, reliable, talks, round, china, sides, lead, washington


Reliable China insiders hint that this round of trade talks could lead to a 'breakthrough'

The previous 18 months of trade talks between the U.S. and China have only led to more tit-for-tat tariffs, but this time it might be different, according to Chinese sources who seem to have inside knowledge on the trade war.

China’s Ministry of Commerce confirmed the two countries held a phone call Thursday and agreed to meet in early October in Washington. This would mark the 13th round of trade negotiations after both sides slapping tariffs on billions of dollars worth of each other’s goods.

“There’s more possibility of a breakthrough between the two sides,” said Hu Xijin in a tweet Thursday. Hu is editor-in-chief of the Global Times, a tabloid under the People’s Daily, which is the official newspaper of the Communist Party of China. His Twitter account has been followed by many Wall Street traders and market participants for insight on the trade war.

Hu has been spot on with the recent developments in the escalated trade war. Most recently, he had warned about the Chinese retaliation against President Donald Trump’s tariffs just hours before the Chinese made the official announcement.


Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: yun li
Keywords: news, cnbc, companies, chinese, hint, xijin, breakthrough, worth, trade, insiders, official, tariffs, reliable, talks, round, china, sides, lead, washington


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GSMA on the importance of a ‘stable and reliable’ supply chain for operators

GSMA on the importance of a ‘stable and reliable’ supply chain for operators4 Hours AgoMats Granryd of the GSMA says it’s “far too early” to tell whether the tensions between the U.S. and China will have any “ramifications” on the roll out of the next generation 5G wireless standard.


GSMA on the importance of a ‘stable and reliable’ supply chain for operators4 Hours AgoMats Granryd of the GSMA says it’s “far too early” to tell whether the tensions between the U.S. and China will have any “ramifications” on the roll out of the next generation 5G wireless standard.
GSMA on the importance of a ‘stable and reliable’ supply chain for operators Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-26
Keywords: news, cnbc, companies, chain, supply, stable, gsma, importance, tensions, standard, reliable, roll, wireless, tell, ramifications, operators


GSMA on the importance of a 'stable and reliable' supply chain for operators

GSMA on the importance of a ‘stable and reliable’ supply chain for operators

4 Hours Ago

Mats Granryd of the GSMA says it’s “far too early” to tell whether the tensions between the U.S. and China will have any “ramifications” on the roll out of the next generation 5G wireless standard.


Company: cnbc, Activity: cnbc, Date: 2019-06-26
Keywords: news, cnbc, companies, chain, supply, stable, gsma, importance, tensions, standard, reliable, roll, wireless, tell, ramifications, operators


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How an island in the Baltic Sea is trying to make renewables a reliable part of its energy mix

Around the world, a host of governments and businesses are looking to reduce their environmental impact by embracing renewable sources of energy. While this may be beneficial to the planet, it does pose some challenges, not least when it comes to energy storage. This is because while sources such as solar and wind are renewable, they do not promise a constant stream of power. “To integrate large amounts of renewable energy into the power system two issues need to be solved,” Ilka Jahn, a PhD can


Around the world, a host of governments and businesses are looking to reduce their environmental impact by embracing renewable sources of energy. While this may be beneficial to the planet, it does pose some challenges, not least when it comes to energy storage. This is because while sources such as solar and wind are renewable, they do not promise a constant stream of power. “To integrate large amounts of renewable energy into the power system two issues need to be solved,” Ilka Jahn, a PhD can
How an island in the Baltic Sea is trying to make renewables a reliable part of its energy mix Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: anmar frangoul
Keywords: news, cnbc, companies, wind, island, baltic, smart, swedish, project, grid, storage, gotland, sea, mix, reliable, renewables, trying, energy, renewable, technology


How an island in the Baltic Sea is trying to make renewables a reliable part of its energy mix

Around the world, a host of governments and businesses are looking to reduce their environmental impact by embracing renewable sources of energy.

In the U.S., for instance, the Energy Information Administration expects non-hydroelectric renewables — think wind and solar — will be the “fastest growing source of U.S. electricity generation for at least the next two years.”

While this may be beneficial to the planet, it does pose some challenges, not least when it comes to energy storage. This is because while sources such as solar and wind are renewable, they do not promise a constant stream of power.

It’s within this context that storage systems are seen as being so important to renewables, as they enable the storage of energy when it’s available and then its usage when required.

“To integrate large amounts of renewable energy into the power system two issues need to be solved,” Ilka Jahn, a PhD candidate at Stockholm’s KTH Royal Institute of Technology, told CNBC’s “Sustainable Energy.”

“One is that, usually, the energy is not produced where it’s needed, so that’s a location problem,” she explained. “And the second one is that the energy is being produced at a time when it’s not needed, so that’s a timing problem.”

Jahn added that, to overcome this, two things could be done. “One is to build more transmission capacity, so new power lines.” The second solution Jahn proposed was the building of more energy storage. “How you actually do that depends on the specific project and the specific requirements.”

On the Swedish island of Gotland, which is home to dozens of wind turbines, researchers from several organizations — including major Swedish utility Vattenfall, Schneider Electric and the KTH Royal Institute of Technology — have worked on a project called Smart Grid Gotland, which wrapped up in 2017.

Among other things, the project aimed to integrate wind and other renewable sources into the network while still ensuring reliability.

To give one example of how innovation was used during the project, households on the island were able to monitor their energy usage 24 hours per day. Using technology, they could adjust their heater’s settings so that it switched on when cheap, renewable electricity was available and turned off when prices went up.

“The Gotland project was a very interesting project in that it looked at how to repurpose an existing distribution grid into a smarter grid,” Daniel Mansson, an associate professor at the KTH Royal Institute of Technology in Stockholm, Sweden, told CNBC.

According to the ETIP Smart Networks for Energy Transition, which was set up by the European Commission, one result of the Smart Grid Gotland project was that it showed how it was “possible to make better use of renewable energy by incentivizing consumers to lower their energy consumption at times of limited renewable production.”

Given that Swedish authorities want 100% renewable electricity production by the year 2040, the results of projects such as Smart Grid Gotland will be watched with a great deal of interest.


Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: anmar frangoul
Keywords: news, cnbc, companies, wind, island, baltic, smart, swedish, project, grid, storage, gotland, sea, mix, reliable, renewables, trying, energy, renewable, technology


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