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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 Sunday December 18 2016, @06:19PM
"When it comes to renewable energy investment, emerging markets have taken the lead over the 35 member nations of the Organization for Economic Cooperation & Development (OECD), spending $154.1 billion in 2015 compared with $153.7 billion by those wealthier countries, BNEF said. "
"emerging markets" (also called 3rd world countries) are mostly located nearer to equator then first world countries so ... there the sun shines.
the "problem", again, is that energy production will be concentrated in the hands of a few.
with oil, gas, coal and even nuclear this makes sense because a lot of investment needs to happen until they break even.
for nuclear there's also the security and safety issue.
so having these energy sources in "a few hands" makes sense.
however the evolution of energy production has created a web of "insiders" and there's a real danger that this
web and structure will be implemented in the renewable energy sector too.
this would mean that a few powerful people will monopolize renewable energy, and unlike as with previous energy sources
won't even have to do anything, you know ... because wind just blows and sun just shines, which is a lot easier
then having to probe and prod for new sources after a well or mine has run dry and barren.
as for the "emerging markets", corruption and cronyism is still the preferred way to do business fast and to catch
up to the first wold countries, even though it gets denied (bureaucracy is a real drag).
thus, these countries will see huge fields of gleaming solar panels next to slum houses that continue to burn
wood and kerosene. the profit of the *free* source will NOT, again, profit all but only a few.
as mentioned before, concentrating the profit (and responsibility) in a few hands for historical energy sources might make sense
but using the same insider web of trustees for energy sources that are accessible for each and every human (sunshine) is a
horrible abomination!
for any person with aspirations to becoming the next revolutionary, i recommend keeping the "gleaming gigantic solar farm-next-to-slum" picture
in memory and also the addresses where the n-th generation of the "energy-barons for eternity" live.