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Renewable Energy

Wind and solar are cheaper than gas - and that’s not about to change

30 Aug, 20235 Mins

You already know the benefits of the renewable energy transition. The arguments for net zero...

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You already know the benefits of the renewable energy transition. The arguments for net zero, the dangers of fossil fuels, the importance of sustainable, clean energy. But there’s one more reason that you may not be aware of, that might finally change the minds of those who continue to invest and promote conventional energy projects:

Renewable energy is now cheaper than fossil fuel generation.

New green energy projects have been cheaper than fossil fuel projects for a couple of years now, thanks to improvements in technology and economies of scale leading to rapid falling in prices - while fossil fuel prices, impacted by global events, have been going up.

And it’s set to continue. The average cost of a large-scale solar PV project fell 85% in the decade from 2010 to 2020. Then between 2020 and 2021 alone, the cost of electricity from onshore wind fell by 15%, offshore by 13% and solar PV by 13% - during a time when oil and gas prices skyrocketed.

A report by the International Renewable Energy Agency (IRENA) last month estimated that the renewable power added through new and upgraded projects in 2021 saved the global energy market around $55 billion US.

And by last year, it was estimated that new renewable energy projects were now cheaper to build, operate and maintain than existing oil and gas projects.

The milestones for renewables keep coming, with energy rates falling and construction getting more advanced. The only thing potentially holding these back is transmission and distribution networks, but projects to upgrade those are massively gaining traction globally.

A surprisingly economical energy transition

The results may be surprising, but there’s more to come. Research by Oxford University, published last year, suggests that ending fossil fuel use by 2050 could save the world’s markets at least $12 trillion.

Their research found that the prices of fossil fuels, existing for inflation, are still relatively similar to their cost 140 years ago. Despite many spikes caused by the ups and downs of global events, a long-term look shows that the market doesn’t really change.

Yet with renewables, the costs only trend downwards. These projects are much more dependent on the technology used, and that is improving all the time.

The researchers predicted that renewable energy production will outstrip oil and gas production within the next 10 years if current growth continued (solar energy production has increased globally by 44% each year since 1990, while wind power has increased by 23% per year).

And it’s now expected that the cost differences are very sustainable

Slug why do you tell lies.

Why do you make these things up.

It's a national grid.

When the wind is blowing in one place, it may not be windy in another place.

They don't put them anywhere, they are carefully planned.

Also it's cheaper than oil and gas.

Saying it cost more is another lie.

We generate 30% of our total power from wind and over 40% from renewables.

That's usable power.

Slug we generate to much energy at night using wind.

Wind now makes up for 30% of all UK electricity.

Also statement of expanding grid below.

National Grid has announced a significant step up in energy infrastructure investment, which is unprecedented in its scale and ambition. Over the next five years, National Grid will be investing around £60 billion in networks, cementing our position as a leader in the energy transition on both sides of the Atlantic.

Slug don't you read the news, that is exactly what is happening now .

However capacity from the grid can be harmonised by changing your electric car at night, using excess energy on the cheap.

Today you are limited to 5k solar systems in most cases because of capacity of the grid.

We will have standalone car ports and driveways with battery capacity to charge electric cars only.

The reason we retain gas for longer is because of baseload, however the storage companies around the world are changing that.

I haven't even got to mini nuclear reactors.

Good grief slug.

Of course I understand baseload.

I trained as an electrical engineer and worked on the grid.

You're an imbecile.

Slug we won't be using coal and oil in ten years time.

It's that simple.

Yes we will still have gas for a while.

But it will become increasingly expensive year after year, to provide the income for the providers to get off it, and also provide tax revenue to the government.

You have never read the clean air act and it's timescales I am guessing.

Don't you understand Export credit Slug.

The point is people like you pay me.

For that I need to be connected to the grid.

You should get down on your hands and knees and kiss my feet for helping you out.

Slug you're getting to a new level on the scale of idiocy.

You want them connected to the grid to export.

Also some people import during the winter, but a smaller amount.

I don't need to import, because my whole house has low wattage devices.

I went the whole hog.

Last winter I had my heating on for less than 5 weeks a few hours a day.

I still generated enough power and for those five weeks my battery was as low as 40% in the morning.

However still was at 100% later on in the day.

So yes you need to work it out.

But very achievable.

Why don't you stop telling lies, and actually work out how you can make energy, conserve energy and change the way you live.

You would be contributing to reducing your CO2 footprint and reducing pollution.

Not to mention saving and making money.

Slug you're a liar.

There are not 100 days a year where you get nothing.

There is not even 1 day

Just on some days, you get less than optimal days.

Try reading about the subject.

Actually try reading full stop.

Slug you really know nothing about anything.

How can you function in life, with your total misunderstanding about everything.

Correct Slug the Battery is used at night time.

So only things on are Fridge, freezer, TV.

I usually have 70% of energy left in the battery when the sun comes up and back to 100% by the time I get out of bed.

Monte when we have some news on Solgold I will happily talk about it.

However the subject of climate change is what is going to drive copper prices and other commodities.

So this is Solgold related.

Much more than the rubbish I am reading on here about Autobots, price being held down.

And how a bid is imminent.

It's complete rubbish.

Slug the sun isn't shining where I am today.

It has cloud cover.

I have my television on and fridge and freezer.

I am using 384 watts.

I am generating just over 1.2 KW and my 9.5 KW battery is at 100%

So yes you are still an imbecile.

Even with cloud cover on a poor cloudy day, I generate more than I require and make a profit.

You talk absolute rubbish and know nothing about heat pumps and solar and intelligent heating.

But you know what.

I am happy for all you climate change deniers to fill my bank account.

Slug do you know nothing about nothing.

When you say the sun doesn't shine.

It's still there.

The sun hasn't left the solar system.

So I still generate electricity.

More than I require, as my usage is very low.

Yes I am connected to the grid, but so far have not imported any, just exported loads.

Yet another example of you talking complete rubbish.

Slug what are you on about.

I generate more than I require, because I oversized my system.

My mathematics is sound unlike yours.

So zero gas is burnt.

Let me repeat that.

Zero gas.

I would just like to say thank you to Slug from me and people like me.

I just got an email from my energy supplier, saying from October my unit cost is going up.

However they have also informed me that the KWH's I export will be paid a higher rate.

As I don't pay for my energy, and I export about 10-13 kWh a day.

A big thanks to everyone that doesn't believe in climate change as they are adding to my bank balance.

Article in New scientist.

You know a respected periodical.

Not a loony post from the internet.

https://www.newscientist.com/article/2446877-the-jet-stream-may-be-starting-to-shift-in-response-to-climate-change/

Again Slug you don't even know what you are reading.

Quite right the sun is not taken into account when calculating the man made part of climate change.

That's because the sun is not part of the man made element.

However is in the baseline model for temperature change, so we can how the sun cools and warms.

I understood the article, you clearly did not.

Slug lots of I.T jobs out there for people with the right skills.

I retired 5 years ago and still get people ringing me.