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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: 1) by khallow on Tuesday December 20 2016, @09:06AM
Was just watching Santa Clause 2, applicable quote from the movie: "Oh yeah? Name five."
First, it tends to be a good, long shot gamble. Second, flexible work environment. Third, you get a larger variety of work experience than in a big company and it tends to be higher value. Fourth, you can develop better connections. Fifth, the the stories are better - flashier job titles, more epic successes and failures at your level, more eccentric characters, etc.
(Score: 2) by JoeMerchant on Tuesday December 20 2016, @02:25PM
First, it tends to be a good, long shot gamble.
Agreed, if you just take crackpot ideas off the street you're looking at 1000:1 or worse conversion rates, and no better ROI on the hits. The good VCs tend to get "hits" at a rate of 1/30 or better. Still looks like abject failure from the inside - takes 2-3 years to make a good shot at anything, so you can spend two or three whole careers before participating in a "hit," especially if you join ground-floor every time. The 1/1000 people who are fortunate enough to participate in two hits in a row get the halo title "successful serial entrepreneur." IMHO, that rare title is about as meaningful as being a "top fund manager" for the past X years. They didn't screw up a good thing, twice in a row. Most people who run these startups don't screw up... circumstances make or break more ventures than incompetence. Some successes are partly thanks to VC vetting and management, others are accomplished in spite of it.
Second, flexible work environment.
You would think so, but in my experience the reverse is true. The startup world is full of minimal vacation policies, essentially mandatory long hours, and just as many "traditional" office cultures that demand personal presence 5 days a week, 8+ hours per day. My personal experience in the "big company" world has been much more flexible working conditions.
Third, you get a larger variety of work experience than in a big company and it tends to be higher value.
Yes on the first, I'd say that working in a startup is like a real-world MBA. As for the higher values - my startup salary history mostly paralleled my school-mates who went with the larger company route, within +/- 10% at any given time, basically the same. Both environments favor job-hoppers, periodic renegotiations with new companies can boost compensation much more than any startup/big company contrast.
Fourth, you can develop better connections.
My best, most valuable connections came from the larger companies. I made good friends in the startup world, but they have been mostly impotent in terms of valuable references. The only exception was one of the principal investors, I made a good reputation with him and did get "easy" entry into a couple of flaky jobs in his sphere of influence.
Fifth, the the stories are better - flashier job titles, more epic successes and failures at your level, more eccentric characters, etc.
Depends on what you value in a story. Everyone knows what VP means at a company with less than 10 employees. Plenty of eccentric characters in the big companies, but yeah, the real 3 sigma+ outliers are found in the startup world. And also depends on what you call epic, it's fairly easy to participate in successes/failures at the $10M+ level in a big company... a $2M event can make or break a whole startup company.
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