By Dave Elliott
A report from Carbon Tracker and the Grantham Institute says that by 2050 solar PV could supply 29% of all global electricity. Its 2050 scenario still has a lot of nuclear in it, supplying about the same as PV, but not much wind (about 7%). That’s a bit odd, especially since the report indicates that onshore wind is currently cheaper in capital cost terms than either nuclear or PV. That stays true up to 2050 on its baseline scenario. But in its lower cost prediction, it sees PV undercutting all by 2050 – falling to M$390-643/GW, about a tenth of its rather low estimate for the current (and future) cost of nuclear (M$3706-4200/GW) and also much cheaper than the baseline capital costs for onshore wind (M$1640/GW) and offshore wind (M$2970/GW) by 2050. That does ignore the likelihood that wind costs may fall faster too and, given the low capacity factor for PV, in order to get to 29% of total output, they say 65% of global generation capacity would have to be PV by 2050 – around 10TW!
By Dave Elliott
A new book ‘The Switch’ (Profile Books) by Chris Goodall suggests that the combination of cheap solar photovoltaics and cheap batteries will be a global winner. It is certainly true that the cost of PV solar has been falling rapidly, outstripping predictions, and even confounding most of the PV optimists, as the technology has improved and markets for it have built. Goodall sees this as a continuing process, at maybe up to a 40% annual growth rate, with PV soon becoming the dominant energy source globally, a view that he notes even some conservative oil companies now share. Lithium ion battery costs have also fallen significantly. So, with wind also providing inputs when there is no sun, we are all set! A similar line was taken in Tony Seba’s book ‘Clean Disruption of Energy and Transportation’. PV and batteries are going to boom worldwide, and electric vehicles too.
By Dave Elliott
BP says renewables have shown ‘a quicker pace of penetration than any other fuel source in modern history’, and their strong growth meant that they ‘accounted for all of the increase in global power generation in 2015’. BP’s latest review of world energy trends carbon notes that wind power capacity grew by 17.4% and solar by 32.6% last year, with China overtaking Germany and the US as the largest solar generator: www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html REN21 has come up with equally high figures. And looking to the future, both see renewables booming, as does Bloomberg.
by Dave Elliott
In its business leader column on August 25th The Observer, said “If there is a body of opinion that states that wind farms and energy efficiency can fill the looming energy gap, then it is small and deeply unrepresentative”. www.theguardian.com/business/2013/aug/25/anger-fracking-cant-manage-without-gas
Germany is aiming to get at least 80% of its electricity from renewables by 2050, with overall energy demand cut by 50%, so the Observer seems to have it wildly wrong, certainly long term. And in fact, far from being marginal, around 50 countries are already getting more than 60% of their electricity from renewables in the form of hydro, some of them near 100%. http://k.lenz.name/LB/?p=6525. Longer term, dozens of studies claim that renewables could supply 100% of the worlds electricity in many countries by around 2050. http://www.mng.org.uk/gh/scenarios.htm. That is what Denmark and New Zealand are aiming for and many others see renewable as their main future energy option- with China leading the way.
By Dave Elliott
Renewable energy is being taken increasingly seriously as a major energy option, if not the major energy option. ‘The share of renewable energy in global primary energy could increase from the current 17% to between 30% to 75%, and in some regions exceed 90%, by 2050.’ So said the Global Energy Assessment (GEA) produced by an international team led by the International Institute for Applied Systems Analysis. See www.iiasa.ac.at/Admin/INF/PR/2012/2012-06-19.html.
The GEA develops a series of possible low-carbon pathways, including one with maximum demand saving achieved through a focus on energy efficiency. In that, residual nuclear power is phased out in most of the world and totally by 2050. The GEA sees ‘nuclear energy as a choice, not a requirement,’ adding that ‘it is possible to meet all GEA goals even in the case of a nuclear phase-out’. However it accepts that nuclear ‘can play an important role in the supply-side portfolio of some transition pathways’. But the main emphasis in all scenarios is on renewables and efficiency.