by kublikhan » Wed 13 May 2020, 21:15:17
$this->bbcode_second_pass_quote('MonteQuest', 'O')k. You do realize that to go from 7.9% today to 50% in 2050 while energy demand doubles is pure fantasy, don't you? How are we on track to meet those projections at .1% to .3%/year market capture? You seem to be in denial of the facts at hand.
Actually you are conflating market share growth rate of all energy with with market share growth rate of electricity. Renewables have been gaining market share in the electricity market at a faster rate than .1%. In 2015 wind & solar took 4.9% of the electricity market. In 2018 they took 7.9%. That's a 1% annual growth rate, 10 times faster than your .1% growth figure suggests. Further, their costs are continuing to decline. Already they have become the cheapest new source of electricity in 2/3rds of the world. By 2030, this will be the case for the entire world. Not to mention coal & oil are getting hammered left and right in the electricity markets.
$this->bbcode_second_pass_quote('', 'N')ot long ago, coal was the cheapest form of energy. Now, solar and wind plants are half the cost of new coal plants. Cheap renewable energy and low-priced batteries are anticipated to lead to wind and solar producing 50 percent of the world’s electricity generation by 2050.
Renewable energy sources are beginning to take over the power sector with low-carbon alternatives producing environmental benefits at a low cost. Advances in technology are driving the price of renewable energy sources down. The dangers of climate change are setting in motion the move to renewable energy. The International Renewable Energy Agency (IRENA) published a report, which announced that
the cost of renewable energy is falling at such a rapid rate that it will be a dependably cheaper energy source than traditional fuels in only a few years’ time.The IRENA report found that solar and onshore wind are the cheapest energy sources. It states that in 2017 wind turbine prices had an average cost of $0.06 per kWh, and at times dropped to $0.04 per kWh. At the same time, the cost of solar photovoltaic (PV) had fallen to $0.10 per kWh. In comparison, electricity produced by fossil fuels typically ran from $0.05 to $0.17 per kWh. This same report predicts that within the next few years, solar and wind will be able to furnish electricity for as little as $0.03 per kWh.
Renewable energy has already gotten to the point where new renewable generation is a good investment compared to new fossil fuel generation. Next, new-build onshore wind and solar will be cheaper than it costs to operate existing coal plants. The United States has already reached the point where renewable energy is crossing over from coal plants. Renewable energy generation can already replace 74 percent of U.S. coal generation with an immediate cost savings to electricity consumers, and this is expected to reach 86 percent by 2025.
$this->bbcode_second_pass_quote('MonteQuest', 'N')o, for storing surplus supply for use at a time of scarcity--at all. Impossible dream without new technology.