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Coal Market Set To Collapse Worldwide By 2040 As Solar, Wind Dominate (bloomberg.com)
Jess Shankleman reports via Bloomberg: Solar power, once so costly it only made economic sense in spaceships, is becoming cheap enough that it will push coal and even natural-gas plants out of business faster than previously forecast. That's the conclusion of a Bloomberg New Energy Finance outlook for how fuel and electricity markets will evolve by 2040. The research group estimated solar already rivals the cost of new coal power plants in Germany and the U.S. and by 2021 will do so in quick-growing markets such as China and India. The scenario suggests green energy is taking root more quickly than most experts anticipate. It would mean that global carbon dioxide pollution from fossil fuels may decline after 2026, a contrast with the International Energy Agency's central forecast, which sees emissions rising steadily for decades to come.
The report also found that through 2040:
-China and India represent the biggest markets for new power generation, drawing $4 trillion, or about 39 percent all investment in the industry.
-The cost of offshore wind farms, until recently the most expensive mainstream renewable technology, will slide 71 percent, making turbines based at sea another competitive form of generation.
-At least $239 billion will be invested in lithium-ion batteries, making energy storage devices a practical way to keep homes and power grids supplied efficiently and spreading the use of electric cars.
-Natural gas will reap $804 billion, bringing 16 percent more generation capacity and making the fuel central to balancing a grid that's increasingly dependent on power flowing from intermittent sources, like wind and solar.
The report also found that through 2040:
-China and India represent the biggest markets for new power generation, drawing $4 trillion, or about 39 percent all investment in the industry.
-The cost of offshore wind farms, until recently the most expensive mainstream renewable technology, will slide 71 percent, making turbines based at sea another competitive form of generation.
-At least $239 billion will be invested in lithium-ion batteries, making energy storage devices a practical way to keep homes and power grids supplied efficiently and spreading the use of electric cars.
-Natural gas will reap $804 billion, bringing 16 percent more generation capacity and making the fuel central to balancing a grid that's increasingly dependent on power flowing from intermittent sources, like wind and solar.
The US will be the number one coal producers, and coal consumers because no one else would be using it. The US will continue to try to delay green energy so the coal industry can get its money instead of advancing with the rest of the world. Capitalism is causing our country to fall into a 2nd world status and maybe even 3rd world if we do not watch it.
If techs didn't disagree with each other, then Microsoft would rule the world.
Just wait until other countries start putting a carbon tax on US products produced with dirty fossil fuels.
I don't read your sig. Why are you reading mine?
There are also some cool designs using molten salt. This plant "...has achieved continuous production, operating 24 hours per day for 36 consecutive days, a result which no other solar plant has attained so far." Pretty neat! And one advantage of molten salt (and perhaps flow batteries, too?) is that unlike, say, lithium ion, the energy can't really come out all at once explosively -- you'd get essentially a lava flow rather than an explosion, AFAIK.
You are ignorant of what's going on in the energy market, your clue should be that your own assessment is in contravention of the wall street press. Storage is there, it's already viable and it's already cheaper than gas. They just executed a 20 year purchase agreement for a solar + storage contract (IIRC it was in Texas) at less than 4cents kwh. That's cheaper than any other source of generation and guarantees 24/7 power.
This isn't even with the big drop in battery prices that's expected as the major battery factories come on line. In case you aren't aware the Tesla gigafactory is one of about 30 similarly sized factories being built right this minute around the world. Batteries prices are projected to fall below the price threshold that they will disrupt entirely the idea of base load. Wall streets been moving money toward this as the trend has intensified, it's been all over the wall street news since 2008 and it's accelerating every year.
Unlike you these people are betting real money on this, billions of dollars are flowing to renewables because of this massive shift in energy production pricing and has been since 2008.
If all the fucking idiots in the world had listened 30 years ago we wouldn'tâ have to be scrambling to implement any of those mitigations now, at that cost of billions and billions of dollars, with no guarantee that any of them will even work.
Tesla is a mega manufacturer of a single battery technology. They will continue to tell you that their battery can do everything and is ideal in every circumstance. The existence of their product at grid scale doesn't necessarily mean it's the best one. Kind of like my nextdoor neighbour who owns a Dodge Ram (I live in a dense European city) who drives around for 15min after he gets home looking for two parking spots next to each other because he doesn't fit in a single spot. He has this car which is great for the purpose it's built, but not so good as a daily commuter.
Flow batteries are larger than Lithium by a factor of 2 currently. This is not relevant in grid scale applications. What is relevant:
- 100% depth of discharge.
- Hugely increased cycle count.
- End of cycle count means one cheap component needs to be replaced: the membrane.
- Estimated 20yr life span is much higher than lithium.
- No cooling required.
- Non-flammable, non-toxic.
- Expansion is as simple as dropping a container of liquid next to the existing battery and connecting a hose.
Lithium battery grid storage can be installed and provide energy for about 1.5 cents/kWh
The most conservative estimate for Tesla's grid storage solution which is the cheapest on the market includes daily cycling over 15 yrs is $0.15/kWh for wholesale cost of a Powerwall (double for retail), and $0.08/kWh for grid scale solution.
Vanadium flow batteries had that cost several years ago already due to their much longer life times and much deeper cycle capability. UET estimates they'll have grid storage available for under $0.05/kWh by the end of the year.
Speaking of because someone has something available it must be good: Redflow ZCell is a lovely little flow cell you can buy for your home. You can replace the Tesla Powerwall with it in a couple of years when the Powerwall is dead. The ZCell costs about 1.5x more and lasts nearly 3 times longer.