Every Cannabis Product In One Graphic
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Every Cannabis Product In One Graphic

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Every Cannabis Product In One Graphic Part 1 of 5
Cannabis and alcohol a side by side comparison Part 2 of 5
The new cannabis consumer Part 3 of 5
Exploring the untapped potential of CBD 4 of 5
5 signs of maturity from the cannabis industry Part 5 of 5

The following content is sponsored by Tenacious Labs.

Every Cannabis Product In One Graphic

There are few markets experiencing growth quite like cannabis, which in 2020 had an additional 7,000 products hit dispensary shelves compared to the year prior. However, for novice cannabis consumers and investors, the different products and their uses can be overwhelming.

This sponsored graphic by Tenacious Labs provides an overview of cannabis products, and is part of a multi-part series that covers different factors affecting the future of cannabis.

Let’s break down cannabis products on the market today.

1. Flower

First, is cannabis flower, which is the ingestible part of the cannabis plant and is the most popular way to consume. It is cultivated, harvested, dried, and cured, as part of the preparation process before making its way to the end consumer. Due to its popularity, it also represents the largest component of the U.S. legal market.

In 2021, some $10.9 billion in dried herb or “buds” were purchased. In addition, pre-rolls generated $2.2 billion, which are pre-rolled products prepared by dispensaries. The psychoactive effects from consuming flower are felt almost instantly, which remains a key appeal.

2. Cartridges, Concentrates, and Extracts

Cannabis concentrates are a growing category which have taken the market by storm in recent years. They come in various forms including raw concentrates, cartridges, and extracts. Preparing them involves removing impurities form the plant, leaving only the desired compounds such as cannabinoids and terpenes.

This highly concentrated form of cannabis results in THC levels of 80-90%, compared to the 10-20% range most commonly found in dry herb flower. Raw concentrates hit $2.2 billion in U.S. legal sales in 2021. And cartridges, which are products intended to be vaped and are typically paired with a battery accessory, were worth $5.1 billion.

The appeals associated with concentrates include a higher dose which results in stronger effects, plus a more discrete experience given they have little to no smell.

3. Edibles

Next, are edibles, where the THC is metabolized by the liver and consumed through infused food and drinks. This leads to an different experience relative to inhaling. For example, the euphoric or psychoactive effects typically last much longer and can take 1-2 hours to kick in.

The legal U.S. edibles market is growing fast. It recorded revenues of $2.3 billion in 2021 but is expected to reach a value of $8.5 billion by 2027. These growth prospects have not gone unnoticed, in fact, the alcohol industry is betting big on cannabis. As of late, waves of investments and acquisitions are occurring targeting cannabis-infused beverages.

A key driver of growth comes from the health conscious consumer who may want to avoid the smoking process altogether.

4. Topicals and Others

Last are topicals and other products. Topicals are CBD-infused non-psychoactive products like lotions, balms, and oils. These are gaining notoriety for their wellness properties including the relief of pain, soreness, and inflammation. However, the market remains relatively modest, with a market value of $200 million. Furthermore, the topicals market appeals to those not interested in any psychoactive effects, and is particularly popular amongst women and pet owners.

Other products include papers, pipes, batteries, and all other accessories, which also provide notable revenues and opportunities.

Measuring Market Share of Cannabis Products

With all these products in mind, let’s take a look at market share. Although edibles, vapes, and concentrates have risen tremendously in value over the years, flower still remains number one, representing 43% of legal sales, followed by cartridges at 20.3% market share.

ProductMarket Share (%)Market Value ($B)
Flower43.4%$10.9B
Cartridges20.3%$5.1B
Edibles9.2%$2.3B
Concentrates8.8%$2.2B
Pre-rolls8.8%$2.2B
Topicals0.8%$0.2B
Accessories8.8%$2.2B

Seasonality also plays a role in cannabis consumption. Since dry flower tends to be consumed outdoors, the data shows that it loses market share during the cold winter months.

The Next Chapter

Cannabis products have come a long way from their early days when variety was considered a choice between an indica or sativa strain. As the industry develops and more money is injected into the space, we should see product innovation accelerate even further.

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Ranked: Emissions per Capita of the Top 30 U.S. Investor-Owned Utilities

Roughly 25% of all GHG emissions come from electricity production. See how the top 30 IOUs rank by emissions per capita.

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Emissions per Capita of the Top 30 U.S. Investor-Owned Utilities

Approximately 25% of all U.S. greenhouse gas emissions (GHG) come from electricity generation.

Subsequently, this means investor-owned utilities (IOUs) will have a crucial role to play around carbon reduction initiatives. This is particularly true for the top 30 IOUs, where almost 75% of utility customers get their electricity from.

This infographic from the National Public Utilities Council ranks the largest IOUs by emissions per capita. By accounting for the varying customer bases they serve, we get a more accurate look at their green energy practices. Here’s how they line up.

Per Capita Rankings

The emissions per capita rankings for the top 30 investor-owned utilities have large disparities from one another.

Totals range from a high of 25.8 tons of CO2 per customer annually to a low of 0.5 tons.

UtilityEmissions Per Capita (CO2 tons per year)Total Emissions (M)
TransAlta25.816.3
Vistra22.497.0
OGE Energy21.518.2
AES Corporation19.849.9
Southern Company18.077.8
Evergy14.623.6
Alliant Energy14.414.1
DTE Energy14.229.0
Berkshire Hathaway Energy14.057.2
Entergy13.840.5
WEC Energy13.522.2
Ameren12.831.6
Duke Energy12.096.6
Xcel Energy11.943.3
Dominion Energy11.037.8
Emera11.016.6
PNM Resources10.55.6
PPL Corporation10.428.7
American Electric Power9.250.9
Consumers Energy8.716.1
NRG Energy8.229.8
Florida Power and Light8.041.0
Portland General Electric7.66.9
Fortis Inc.6.112.6
Avangrid5.111.6
PSEG3.99.0
Exelon3.834.0
Consolidated Edison1.66.3
Pacific Gas and Electric0.52.6
Next Era Energy Resources01.1

PNM Resources data is from 2019, all other data is as of 2020

Let’s start by looking at the higher scoring IOUs.

TransAlta

TransAlta emits 25.8 tons of CO2 emissions per customer, the largest of any utility on a per capita basis. Altogether, the company’s 630,000 customers emit 16.3 million metric tons. On a recent earnings call, its management discussed clear intent to phase out coal and grow their renewables mix by doubling their renewables fleet. And so far it appears they’ve been making good on their promise, having shut down the Canadian Highvale coal mine recently.

Vistra

Vistra had the highest total emissions at 97 million tons of CO2 per year and is almost exclusively a coal and gas generator. However, the company announced plans for 60% reductions in CO2 emissions by 2030 and is striving to be carbon neutral by 2050. As the highest total emitter, this transition would make a noticeable impact on total utility emissions if successful.

Currently, based on their 4.3 million customers, Vistra sees per capita emissions of 22.4 tons a year. The utility is a key electricity provider for Texas, ad here’s how their electricity mix compares to that of the state as a whole:

Energy SourceVistraState of Texas
Gas63%52%
Coal29%15%
Nuclear6%9%
Renewables1%24%
Oil1%0%

Despite their ambitious green energy pledges, for now only 1% of Vistra’s electricity comes from renewables compared to 24% for Texas, where wind energy is prospering.

Based on those scores, the average customer from some of the highest emitting utility groups emit about the same as a customer from each of the bottom seven, who clearly have greener energy practices. Let’s take a closer look at emissions for some of the bottom scoring entities.

Utilities With The Greenest Energy Practices

Groups with the lowest carbon emission scores are in many ways leaders on the path towards a greener future.

Exelon

Exelon emits only 3.8 tons of CO2 emissions per capita annually and is one of the top clean power generators across the Americas. In the last decade they’ve reduced their GHG emissions by 18 million metric tons, and have recently teamed up with the state of Illinois through the Clean Energy Jobs Act. Through this, Exelon will receive $700 million in subsidies as it phases out coal and gas plants to meet 2030 and 2045 targets.

Consolidated Edison

Consolidated Edison serves nearly 4 million customers with a large chunk coming from New York state. Altogether, they emit 1.6 tons of CO2 emissions per capita from their electricity generation.

The utility group is making notable strides towards a sustainable future by expanding its renewable projects and testing higher capacity limits. In addition, they are often praised for their financial management and carry the title of dividend aristocrat, having increased their dividend for 47 years and counting. In fact, this is the longest out of any utility company in the S&P 500.

A Sustainable Tomorrow

Altogether, utilities will have a pivotal role to play in decarbonization efforts. This is particularly true for the top 30 U.S. IOUs, who collectively serve 60 million Americans, or one-fifth of the U.S. population.

Ultimately, this means a unique moment for utilities is emerging. As the transition toward cleaner energy continues and various groups push to achieve their goals, all eyes will be on utilities to deliver.

The National Public Utilities Council is the go-to resource to learn how utilities can lead in the path towards decarbonization.

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The Road to Decarbonization: How Asphalt is Affecting the Planet

The U.S. alone generates ∼12 million tons of asphalt shingles tear-off waste and installation scrap every year and more than 90% of it is dumped into landfills.

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Road to Decarbonization - How Asphalt is Affecting the Planet

The Road to Decarbonization: How Asphalt is Affecting the Planet

Asphalt, also known as bitumen, has various applications in the modern economy, with annual demand reaching 110 million tons globally.

Until the 20th century, natural asphalt made from decomposed plants accounted for the majority of asphalt production. Today, most asphalt is refined from crude oil.

This graphic, sponsored by Northstar Clean Technologies, shows how new technologies to reuse and recycle asphalt can help protect the environment.

The Impact of Climate Change

Pollution from vehicles is expected to decline as electric vehicles replace internal combustion engines.

But pollution from asphalt could actually increase in the next decades because of rising temperatures in some parts of the Earth. When subjected to extreme temperatures, asphalt releases harmful greenhouse gases (GHG) into the atmosphere.

Emissions from Road Construction (Source) CO2 equivalent (%)
Asphalt 28%
Concrete18%
Excavators and Haulers16%
Trucks13%
Crushing Plant 10%
Galvanized Steel 6%
Reinforced Steel6%
Plastic Piping 2%
Geotextile1%

Asphalt paved surfaces and roofs make up approximately 45% and 20% of surfaces in U.S. cities, respectively. Furthermore, 75% of single-family detached homes in Canada and the U.S. have asphalt shingles on their roofs.

Reducing the Environmental Impact of Asphalt

Similar to roads, asphalt shingles have oil as the primary component, which is especially harmful to the environment.

Shingles do not decompose or biodegrade. The U.S. alone generates ∼12 million tons of asphalt shingles tear-off waste and installation scrap every year and more than 90% of it is dumped into landfills, the equivalent of 20 million barrels of oil.

But most of it can be reused, rather than taking up valuable landfill space.

Using technology, the primary components in shingles can be repurposed into liquid asphalt, aggregate, and fiber, for use in road construction, embankments, and new shingles.

Providing the construction industry with clean, sustainable processing solutions is also a big business opportunity. Canada alone is a $1.3 billion market for recovering and reprocessing shingles.

Northstar Clean Technologies is the only public company that repurposes 99% of asphalt shingles components that otherwise go to landfills.

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