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A transformation is happening in global energy markets that's worth noting as 2016 comes to an end: Solar power, for the first time, is becoming the cheapest form of new electricity.
This has happened in isolated projects in the past: an especially competitive auction in the Middle East, for example, resulting in record-cheap solar costs. But now unsubsidized solar is beginning to outcompete coal and natural gas on a larger scale, and notably, new solar projects in emerging markets are costing less to build than wind projects, according to fresh data from Bloomberg New Energy Finance.
The chart below shows the average cost of new wind and solar from 58 emerging-market economies, including China, India, and Brazil. While solar was bound to fall below wind eventually, given its steeper price declines, few predicted it would happen this soon.
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"Renewables are robustly entering the era of undercutting" fossil fuel prices, BNEF chairman Michael Liebreich said in a note to clients this week.
Will we see a sharp pivot in energy production, or a gradual tailing off of fossil fuels as renewables take hold?
(Score: 0) by Anonymous Coward on Saturday December 17 2016, @03:53PM
In order to make solar (and other renewables) work, we are going to need to upgrade the national grid. [vox.com] Basically the bigger the grid, the less need for batteries. Because when the sun sets on the east coast, its still shining on the west coast and when its night everywhere there is still wind in middle america and off-shore. A beefed up grid isn't 100% sufficient to enable a full transition to renewable energy but it is infrastructure that we already understand, can start working on now and would be useful today too.
(Score: 2) by Whoever on Saturday December 17 2016, @04:48PM
You can discount any article that starts with a falsehood:
The US doesn't have a national grid, that part is true. But it does have 3 grids: Western, Eastern and Texas.
(Score: 0) by Anonymous Coward on Saturday December 17 2016, @05:18PM
One grid is not a patchwork. And surely adding one more grid doesn't make a patchwork from a non-patchwork...
Somebody get Eubulides!
(Score: 2) by Wootery on Sunday December 18 2016, @05:10PM
Sure, the continuum fallacy is a thing. So what?
(Score: 0) by Anonymous Coward on Saturday December 17 2016, @06:26PM
What falsehood?
You agreed with the quote. Dumbass.
(Score: 1) by Francis on Saturday December 17 2016, @06:18PM
That's blatantly untrue. The reason for the batteries is that load isn't consistent throughout the day. Solar is only useful during the day, so you have to either use the electricity then or save it in some fashion. Similar wind works at night, but it isn't necessarily consistent through the day either, so you need some method of storing that as well.
There are forms of power generation that are more consistent, such as nuclear, geothermal, hydroelectric, coal and gas powered plants, but most of those are ones that we're trying to get rid of by increasing our solar capacity.
Bottom line here is that regardless of configuration, you'll wind up having to either store solar power or replace it with something during periods where the sun isn't shining. You might be able to reduce it a little bit by shipping it from coast to coast, but realistically, that's not viable and since most of the demand is on the coasts anyways, you're not really going to have much gains like that.
(Score: -1, Offtopic) by Anonymous Coward on Saturday December 17 2016, @06:29PM
> That's blatantly untrue.
You are blatantly illiterate. You didn't even read my post much less the linked article.
I never said good grid eliminates storage. I said it reduces the need for it.
Geezus WTF is wrong with people today?
(Score: 0) by Anonymous Coward on Saturday December 17 2016, @08:22PM
I read your post, I didn't bother to read the link because your post was so woefully incorrect. If you can't bother making a point in the post, then why should anybody bother reading the link?
(Score: 0) by Anonymous Coward on Saturday December 17 2016, @11:11PM
Geezus WTF is wrong with people today?
He is Francis!! Doesn't matter what day it is.