Solar is now the cheapest form of energy

[Stevicus]

Solar Is Cheapest Energy: Renewable Energy vs. Fossil Fuels Cost

• The International Energy Agency (IEA) says the cost per megawatt to build solar plants is below fossil fuels worldwide for the first time.

• Public success stories like Elon Musk's solar and wind battery farm in Australia have helped move public sentiment.

• All four IEA scenarios include a mix of renewables as well as nuclear and the world's remaining fossil fuel plants.

It's expected that there will be more demand for solar energy in the decades to come.

In a new report, the International Energy Agency (IEA) says solar is now the cheapest form of electricity for utility companies to build. That’s thanks to risk-reducing financial policies around the world, the agency says, and it applies to locations with both the most favorable policies and the easiest access to financing. The report underlines how important these policies are to encouraging development of renewables and other environmentally forward technologies.

You love renewable energy. So do we. Let's nerd out over it together.

Carbon Brief (CB) summarizes the annual report with a lot of key details. The World Energy Outlook 2020 “offers four ‘pathways’ to 2040, all of which see a major rise in renewables,” CB says. “The IEA’s main scenario has 43 [percent] more solar output by 2040 than it expected in 2018, partly due to detailed new analysis showing that solar power is 20 [to] 50 [percent] cheaper than thought.”

Cost was always the biggest barrier to solar, as the start-up costs made it too expensive, which is why gas and coal were generally favored.

The calculation depends on financing figures compared with the amount of output for solar projects. That means that at the same time panel technology gets more efficient and prices for basic panels continue to fall, investors are getting better and better financing deals. CB explains:

“Previously the IEA assumed a range of 7 [to] 8 [percent] for all technologies, varying according to each country’s stage of development. Now, the IEA has reviewed the evidence internationally and finds that for solar, the cost of capital is much lower, at 2.6 [to] 5.0 [percent] in Europe and the US, 4.4 [to] 5.5 [percent] in China and 8.8 [to] 10.0 [percent] in India.”

IEA’s recommendations include similar projections and calculations for all renewables as well as nuclear. Solar is well positioned to blow up in the next 10 years, the IEA says, because right now it’s in the sweet spot of low cost and increasing availability. All the pathways listed include a mix of renewables, nuclear, and shrinking coal and gas power. And while the news is very good for solar, it’s still pretty good for all the other renewables as well as nuclear, the IEA says.

 

[Revoltingest]

It's more complex that cost/kilowatt.
Sure, sure, I'm going 100% photovoltaic at me home,
but it's not continuously available. I use DTE's gas,
coal, & nuke sources for night power. (It's 100% cuz
I trade excess daytime generation for it.)
And for back-up, I have a 20kw Generac. It cost me
$2k (great deal), as opposed to $10k for solar battery
back-up.

 

[Stevicus]

It's more complex that cost/kilowatt.
Sure, sure, I'm going 100% photovoltaic at me home,
but it's not continuously available. I use DTE's gas,
coal, & nuke sources for night power. (It's 100% cuz
I trade excess daytime generation for it.)
And for back-up, I have a 20kw Generac. It cost me
$2k (great deal), as opposed to $10k for solar battery
back-up.

Can the excess power from solar be stored in the solar battery?

 

[Revoltingest]

Can the excess power from solar be stored in the solar battery?

Yes, to a limited extent.
Wouldn't last long if a power outage during winter,
with its low-in-the-sky light, & snow covered panels.

 

[Twilight Hue]

Solar Is Cheapest Energy: Renewable Energy vs. Fossil Fuels Cost




It's expected that there will be more demand for solar energy in the decades to come.



Cost was always the biggest barrier to solar, as the start-up costs made it too expensive, which is why gas and coal were generally favored.

The only problem is the lifespan of the panel before it needs replacing. I do like solar tech though, but it's not ready to compete right now but I see its getting there.

 

[Twilight Hue]

Yes, to a limited extent.
Wouldn't last long if a power outage during winter,
with its low-in-the-sky light, & snow covered panels.

I wish Tesla achieved his vision. I can picture solar powered aircraft above the clouds with a tesla coil on it. Imagine the possibilities!

 

[Revoltingest]

I wish Tesla achieved his vision. I can picture solar powered aircraft above the clouds with a tesla coil on it. Imagine the possibilities!

And a Jacob's ladder to be cool.

 

[Stevicus]

Yes, to a limited extent.
Wouldn't last long if a power outage during winter,
with its low-in-the-sky light, & snow covered panels.

I often wondered why batteries can't last longer. Back in the 80s, I had a walkman, and I was having to buy batteries almost every other week. Now, if I fail to plug in my cellphone for even one day, the battery will die. It's even worse with my laptop; it goes dead after a few hours without plugging it in.

It seems that longer-lasting batteries are as elusive to technologists as warp drive.

 

[exchemist]

Solar Is Cheapest Energy: Renewable Energy vs. Fossil Fuels Cost




It's expected that there will be more demand for solar energy in the decades to come.



Cost was always the biggest barrier to solar, as the start-up costs made it too expensive, which is why gas and coal were generally favored.

Yes this is the good news we have been expecting. What we need next is to see the cost of electricity storage coming down too, since solar can't produce all round the clock, unlike fossil fuel sources. The limit to installation of solar will probably come when the daytime price for its electricity becomes too low to be viable, due to the huge number of solar installations already in place. Options can be batteries, pumped storage, or conversion to hydrogen via electrolysis.

 

[exchemist]

I wish Tesla achieved his vision. I can picture solar powered aircraft above the clouds with a tesla coil on it. Imagine the possibilities!

What use is a Tesla coil on a plane?

 

[Revoltingest]

I often wondered why batteries can't last longer. Back in the 80s, I had a walkman, and I was having to buy batteries almost every other week. Now, if I fail to plug in my cellphone for even one day, the battery will die. It's even worse with my laptop; it goes dead after a few hours without plugging it in.

It seems that longer-lasting batteries are as elusive to technologists as warp drive.

Aye, battery storage density leaves much to be desired.
But your problems sound severe. My iPhone can go
several days without recharging. Consider your power
management strategy.

 

[Twilight Hue]

I often wondered why batteries can't last longer. Back in the 80s, I had a walkman, and I was having to buy batteries almost every other week. Now, if I fail to plug in my cellphone for even one day, the battery will die. It's even worse with my laptop; it goes dead after a few hours without plugging it in.

It seems that longer-lasting batteries are as elusive to technologists as warp drive.

I know they degrade over time. Too bad there isn't a universal battery that retains charge but dosent degrade as quickly.

I stay with rechargeable batteries for most of my needs. At least it reduces battery waste and is cheaper i think.

 

[Twilight Hue]

What use is a Tesla coil on a plane?

I dunno but it sounds cool!

 

[Twilight Hue]

It would be great to see a return to steam power using alternative energy.

I wonder if solar panel(s) could be used to heat up a boiler to run a steam engine?

 

[Revoltingest]

Yes this is the good news we have been expecting. What we need next is to see the cost of electricity storage coming down too, since solar can't produce all round the clock, unlike fossil fuel sources. The limit to installation of solar will probably come when the daytime price for its electricity becomes too low to be viable, due to the huge number of solar installations already in place. Options can be batteries, pumped storage, or conversion to hydrogen via electrolysis.

Also useful....
- Infrastructure capable of sending power from an area with an
excess of energy to one in need. This is happening in Eurostan.
- Power plants capable of rapid ramp up & ramp down of generation,
eg, natural gas fired plants. These would handle intermittent demand.
- Conservation measures.

 

[exchemist]

It would be great to see a return to steam power using alternative energy.

I wonder if solar panel(s) could be used to heat up a boiler to run a steam engine?

You can do it as a curiosity, but it is of no commercial interest.

Because of Carnot cycle limitations, no heat engine can in practice convert more than about 60% of the heat input into mechanical work or electricity. An electrical solar panel converts solar light directly into electricity and is not bound by this limitation.

 

[Vinayaka]

It would be great to see a return to steam power using alternative energy.

I wonder if solar panel(s) could be used to heat up a boiler to run a steam engine?

Already been done. Article was in 2013, I don't know where that technolgy is now.

Solar Power From Giant Mirrors Flows Into California's Grid

 

[exchemist]

Also useful....
- Infrastructure capable of sending power from an area with an
excess of energy to one in need. This is happening in Eurostan.
- Power plants capable of rapid ramp up & ramp down of generation,
eg, natural gas fired plants. These would handle intermittent demand.
- Conservation measures.

Indeed. But even in Eurostan it gets dark all at once practically (spans only 2 time zones). You've got a better chance in the US with 5 time zones by sending electricity across the continent, but there's clearly a lot of capital and maintenance cost tied up in the grid system, so you have a trade-off between grid investment and maintenance vs. storage closer to the point of generation.

 

[Revoltingest]

Indeed. But even in Eurostan it gets dark all at once practically (spans only 2 time zones). You've got a better chance in the US with 5 time zones by sending electricity across the continent, but there's clearly a lot of capital and maintenance cost tied up in the grid system, so you have a trade-off between grid investment and maintenance vs. storage closer to the point of generation.

Sharing wind, tidal, & solar energy smooths things out.
That North Sea is quite the powerhouse.

 

[exchemist]

Already been done. Article was in 2013, I don't know where that technolgy is now.

Solar Power From Giant Mirrors Flows Into California's Grid

Interesting. However I think with the cost of solar panels coming down, this will prove to be a technological dead end. And it only works where you have pretty intense sunshine.