Yet, you need to keep in mind two things: electricity generation only uses a bit more than a third of all energy consumed, and very little renewables supply transport, heating, etc. Here is a projection from the U.S. Energy Information Agency, showing that renewables are showing some progress, but will continue to be overshadowed by the assortment of fossil fuels, including coal, into 2040 and beyond.
- Historic Paris Agreement: A Holiday Gift to the World.
- Paris Climate Change Agreement: The World's Greatest Diplomatic Success.
- Abengoa has filed for creditor protection, making this the largest firm to ever go broke in Spain.
- American biofuel company, KIOR, supported by Vinod Khosla and Bill Gates, filed for bankruptcy.
- Well, the Chicago Mercantile Exchange reports petroleum will sell for $55/barrel in December of 2024. As we've seen the past, though, a hot war in the Middle East and skyrocketing oil costs will occur again. The currently low prices will only get worse when Iran re-enters the picture, but will edge up for a while when Saudi Arabia decides that a sufficient number of fracking companies have given up.
- Much of wind power and geothermal is cost competitive with current electricity prices.
- Even the International Energy Agency (a European organization bullish on the fossil fuels and nuclear power) indicates that solar PV is today competitive with electricity.
- In Hawaii, because our rates are three times higher than the national average, residential PV makes sense. Not so for many homes in the USA.
- Utility-size PV could well here and there compete with local electricity rates.
|Energy Plant Type||Lifetime Cost ¢ per Kwh|
|Peaker Natural Gas||18.0|
|Coal with CCS||14.4|
|Gas Combined Cycle with CCS||10.0|
|Natural Gas Combined Cycle||7.5|
|Land Based Wind||7.4|