In the USA, Wind Farms now provide the least expensive grid energy by margins of 25% to 50 %. Rapidly advancing Solar has drawn even with gas for second least expensive with Solar efficiency gains expected to continue. In parallel, the growth in storage technologies are making enormous gains.
Money Talks :
This from Morgan Stanley’s Voice : “…., in the US wind is now the least expensive type of power, at about $30 per megawatt hour, compared to $40-$60/MWh for natural-gas-fired power generation, the next cheapest form of fuel.”
GS researcher Alberto Gandolfi sums it up:
“Falling wind and solar costs are set to spur even greater investment in renewable technologies… ... “ Gandolfi expects wind and solar deployment to accelerate, reaching $3 Trillion …..”
Greater investment means further advancements, cheaper more accessable energy for everyone. As with the industrial Revolution, today’s Energy Evolution will improve the quality of life and productivity of billions of people.
Bonus Round – Cheaper Energy is like miracle grow to the economy.
New jobs and careers across the board will abound. The new age of clean energy will not be without challenges and growing pains but promises a huge net gain. The transition to clean energy is such a monumental task it’s likely to bring a boom economy to decades ahead.
World Economic Forum’s Peter Voser & IHS Cera write : “Energy is the Oxygen of the Economy and the life blood of growth.
The recent the Climate Science Report sheds light on the urgency at which we must turn away from GHG production. News of the boom in Clean Energy investment by utilities is welcomed with a sigh of relief. Will it be enough to avoid the catastrophic consequences to Co2 emissions outlined in the U.S. Gov NCA4 Report? It’s time to pay attention to what’s most important.