Many people still think that it will not be long before renewable energy such as solar and wind becomes outright cheaper than fossil fuels, thereby leading to a rapid expansion of the thin orange slither in the graph below. This is an ideologically very attractive notion, but, as discussed in this article, it is questionable whether this is in fact physically possible.
So, what does renewable energy have to accomplish before it can compete with fossil fuels in an open market? Well, in short, we will have to overcome the diffuse and intermittent nature of renewable energy more efficiently than we can overcome the declining reserve qualities and unrefined nature of fossil fuels.
In other words, renewables need to overcome the following two challenges in order to displace fossil fuels in a fair market:
Solar panels and wind turbines need to become cheaper than raw fossil fuels. This is the challenge posed by the diffuse nature of renewables.
Storage solutions need to become cheaper than fossil fuel refineries (e.g. power plants). This is the challenge posed by the intermittent nature of renewables.
Written by Schalk Cloete. To read the full article, click here.
A new type of solar cell, made from a material that is dramatically cheaper to obtain and use than silicon, could generate as much power as today’s commodity solar cells.
Although the potential of the material is just starting to be understood, it has caught the attention of the world’s leading solar researchers, and several companies are already working to commercialize it.
Researchers developing the technology say that it could lead to solar panels that cost just 10 to 20 cents per watt. Solar panels now typically cost about 75 cents a watt, and the U.S. Department of Energy says 50 cents per watt will allow solar power to compete with fossil fuel.
In the past, solar researchers have been divided into two camps in their pursuit of cheaper solar power. Some have sought solar cells that can be made very cheaply but that have the downside of being relatively inefficient. Lately, more researchers have focused on developing very high efficiency cells, even if they require more expensive manufacturing techniques.
Written by Kevin Bullis. To read the full article, click here.
The report from the Committee on Climate Change arguing that investing in renewable energy would eventually save consumers a lot of money is spot on.
We are regularly told by conventional utility companies, many politicians and commentators that energies such as solar and wind are hopelessly expensive and reliant on enormous subsidy.
But this is simply wrong. Renewables have seen such dramatic price falls in the past few years that they are threatening to upset the world as we know it and usher in an almost unprecedented boom in the spread of cheap, clean, home-produced energy.
Solar will be the cheapest form of power in many countries within just a few years. In places such as California and Italy it has already reached so-called “grid parity”. Onshore wind, on a piece of land not constrained by years of planning delays, is already the cheapest form of energy on earth. These are not wild claims – those are figures from General Electric, Citibank and others.
Written by Ashley Seager. To read the full article, click here
May 16 (Reuters) – Solar panels were cheaper than wind turbines for the first time last year in certain markets, per unit of capacity, and are rapidly closing a remaining gap in the full cost of power generation.
Until now, wind power has been the leading low-carbon alternative to oil, coal and gas, outside large niche markets such as Germany, which has seen a huge ramp-up in installed solar.
But that could change, with deep implications for the health of both industries if one substitutes the other.
As soon as this year, solar could for the first time surpass wind in annual global installed capacity, given an expected contraction in the wind market.
Written by Gerard Wynn. To read the full article, click here