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World's Cheapest Energy Source Will Be Renewables Within Three Years (qz.com)
Morgan Stanley researchers predict renewable energy will become the world's cheapest form of power within three years. An anonymous reader quotes Qz:
Renewable energy is simply becoming the cheapest option, fast... "We project that by 2020, renewables will be the cheapest form of new-power generation across the globe," with the exception of a few countries in Southeast Asia, the Morgan Stanley analysts said in a report published Thursday... Globally, the price of solar panels has fallen 50% between 2016 and 2017, they write. And in countries with favorable wind conditions, the costs associated with wind power "can be as low as one-half to one-third that of coal- or natural gas-fired power plants." Innovations in wind-turbine design are allowing for ever-longer wind blades; that boost in efficiency will also increase power output from the wind sector, according to Morgan Stanley.
The researchers also predict America will reach its Paris Climate Accord targets in 2020 -- five years early -- simply because renewables are already becoming the cheapest option for power.
The researchers also predict America will reach its Paris Climate Accord targets in 2020 -- five years early -- simply because renewables are already becoming the cheapest option for power.
That's why Germany and Denmark, which have the highest wind+solar energy investments, have such affordable electricity. Oh, wait...
http://www.euanmearns.com/wp-content/uploads/2015/08/europeelectricprice.png
In Germany, where they now get 20% of their electricity from wind & solar, the extraordinarily high cost has driven the price of electricity there up to three times what I pay here in North Carolina. (Well, it also doesn't help that Merkel is shutting down their perfectly good nuclear plants.)
The truth is that the intermittency problem with wind and solar is so severe that when you get more than a few percent tied into the grid it actually has negative value. It is only "crony capitalism" (government mandates, tax incentives, etc.) which make wind & solar competitive with coal and gas except in very special circumstances.
Diverting resources to wind and solar boondoggles impoverishes people, not just in West Virginia, where huge numbers of them are now out of work, but also everywhere that it inflates the cost of energy. It causes people living "on the edge" to sometimes have to choose between eating and staying warm.
Either choice can be deadly. In Europe, where there have been enormous price hikes for energy because of "renewables" scams, "energy poverty" is killing tens of thousands of mostly-elderly people:
http://www.independent.co.uk/news/uk/home-news/fuel-poverty-killed-15000-people-last-winter-10217215.html
What's more, most of the energy used to PRODUCE solar panels, and much of the energy used to produce wind turbines, comes from soot-belching, coal-fired power plants in China, and most of the energy REPLACED BY these devices would have been produced in clean power plants with state-of-the-art "scrubbers" in North America, Europe & Australia.
So, Chinese workers get emphysema, American workers get to collect unemployment (until it runs out), and American & European environmentalists get to feel self-righteous.
Such a deal.