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World Trending To Hit 50% Renewables, 11% Coal By 2050: Report (arstechnica.com) 202

Bloomberg New Energy Finance released a new report this week that estimates how electricity generation will change out to 2050. ArsTechnica: The clean energy analysis firm estimates that in a mere 33 years, the world will generate almost 50 percent of its electricity from renewable energy, and coal will make up just 11 percent of the total electricity mix. Add in hydroelectric power and nuclear energy, and greenhouse-gas-free electricity sources climb to 71 percent of the world's total electricity generation. The report doesn't offer a terribly bright future for nuclear, however, and after a period of contraction, the nuclear industry's contribution to electricity generation is expected to level off. Instead, falling photovoltaic (PV), wind, and battery costs will cause the dramatic shift in investment, Bloomberg New Energy Finance (BNEF) notes. "PV and wind are already cheaper than building new large-scale coal or gas plants," the 2018 report says. In addition, BNEF expects that more than $500 billion will be invested in batteries by 2050, with two-thirds of that investment going to installations on the grid and one-third of that investment happening at a residential level.
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World Trending To Hit 50% Renewables, 11% Coal By 2050: Report

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  • 33 Years?! (Score:5, Insightful)

    by aaarrrgggh ( 9205 ) on Wednesday June 20, 2018 @04:57PM (#56818388)

    I'm guessing we will hit 50% much sooner than 33 years based on the improving economics. I wonder what state the grid will be in at that point though; will de-centralized energy take over, will we see interconnected microgrids, or will it be largely the same as today.

    I think the only real question is if SMR's will provide a nuclear renaissance, or if that is still "20 years out." From what I read it doesn't seem like the SMR economics are any better on a $/kW basis than traditional reactors on a construction cost basis, although legal risk and financing costs should (theoretically) be reduced.

    • by Lennie ( 16154 )

      In Germany they used to help fund the research and subsidize solar power, etc.

      These days they are not doing that anymore, they now are doing that for energy storage. Like: batteries. A pretty famous example of that would be Tesla powerwall.

      • The main problem with most new ways of energy generation is that they are fickle wrt the time they give good output. Solar doesn't work at all at night and can have many-days mostly outage when the sky is overcast, wind turbines have 0 output when the wind isn't blowing, etc. On the other hand, hydro and geothermal have constant output which is also not what we want: energy use per time-of-day differs greatly; with a predictable pattern: almost all factories shut for the night, home use is greatest in the

    • I'm guessing we will hit 50% much sooner than 33 years

      I know how you feel, I sympathize with you, but we need to accept reality. It's 2018 and Trump is president.

      • by MrL0G1C ( 867445 )

        It doesn't matter who's president, simple economics will result in solar power becoming dominant.

        • OK, that's cool, but 2050 is not 33 years away.

        • I’m not sure if solar will be dominant in energy terms, but power terms of course. Some significant things need to change for it to dominate energy, and is more than batteries.

  • As has often been the case in the past our problems are mostly solved by advances in technology and not by politicians or the short term needs of company chairmen. It is arguable that science and technology has given the bulk of society all of the gains in the last 150 years and not our elected or business leaders. You can debate just how much freedom the academic world should have but you can be sure that our problems would be far worse if they did not have any.

    • by Lennie ( 16154 )

      Well, almost all fundamental research is funded by the state (so that would be indirectly the elected politicians).

    • by AmiMoJo ( 196126 )

      How much further has out renewable tech advanced because politicians decided to offer subsidies like fossil and nuclear get?

      • because politicians decided to offer subsidies like fossil and nuclear get?

        You mean the kind of subsidies where the vast majority of cost comes from compliance to red tape, lacking permits and NIMBYism? If you want a fair comparison, please first demand every coal plant to install giant condoms on every chimney and store their output forever (it doesn't decay), build giant underwater glass domes over all dwellings, animals, vegetation and cultural artifacts that are flooded by hydro dams (incl. damage due to halting river flow cycles), install safety nets to protect birds killed

  • Read the souce (Score:4, Insightful)

    by Luckyo ( 1726890 ) on Wednesday June 20, 2018 @05:10PM (#56818486)

    I read the source rather than opinionated drivel on ars technica.

    https://about.bnef.com/new-ene... [bnef.com]

    #1 and #2 are fudged to the extreme to get the outcome they're gunning for. #4 is equally fudged and is in direct contradiction with #1 and #2. #5 is also in direct contradiction with #1 and #2. #3 is likely true in the assumption on coal, but it's highly unlikely to be replaced with what study claims.

    First of all, if you are to try to deploy lithium batteries on world scale as spinning reserve replacement, lithium prices will not just go through the roof - they'll go into outer space. The reason we have cheap lithium now is because we get lithium by literally vaporising water in the driest desert on the planet. If you want to increase production by orders of magnitude, as this kind of project would require, you'd have to go for less economic ways of making lithium. And that means orders of magnitude higher costs. So much for #1 and #2. Not to even mention that solar doesn't scale all that well, because there are too many regions where there isn't enough sun, and energy requirements are at their highest when sunny periods are at their lowest. So linear scaling of low hanging fruit adoption for decades on is literally the infamous xkcd level of "you're getting married tomorrow, so you'll lots of wedding cakes for next year at a linear rate of one a day".

    As for the #4, UK makes for a great example here. CCGTs replacing coal, because to meet CO2 targets, you can get roughly twice the energy from natgas that you would get from coal for the same emission of CO2. It's also mutually exclusive with their claims in #1 and #2, showing that whatever model they're using, it appears to contradict itself.

    The only things to take away are #3 and #5. #3 will likely be sorta, kinda correct in that we'll probably switch from goal mostly to CCGTs, and #5 is likely correct that as long as "lithium prices go to outer space" scenario of #1 and #2 doesn't happen (another internal contradiction in the model), a significant portion of locomotion will go electric.

    • Yeah, bloomberg is a bunch of tree-hugging hippies.

    • by Lennie ( 16154 )

      Nobody said there aren't problems to overcome. And energy storage should be at the top of the list. IF we can do energy storage a lot better (technology and price) than we do now, things will go really fast. But, big IF.

    • Re:Read the souce (Score:4, Interesting)

      by K. S. Kyosuke ( 729550 ) on Wednesday June 20, 2018 @06:13PM (#56818782)

      Not to even mention that solar doesn't scale all that well, because there are too many regions where there isn't enough sun

      Actually, solar power is the most equally distributed power there is. You won't find ANY region (not a hole in the ground) in the world where there is, say, less than four times the maximum global insolation of ~2700 kWh/m^2. So even the worst place is less four times worse than the best one. Compared to this, even wind variations are much higher. And fossil fuel sites are even more unevenly distributed.

      • Try working out how many solar panels are required to power equipment north of the arctic circle -- all year round. In northern climates you require energy storage and greatly increased solar panel area to deal with the short winter days. It results in solar power only being good for supplementing an existing power source during the summer. For those months when you actually need the power - the sun will not be visible.
        • Solar power won't work in the arctic circle, so it's doomed?

        • Try working out how many solar panels are required to power equipment north of the arctic circle -- all year round.

          Only a few [akamaized.net], on account of hardly anybody living there.

      • less than four times the maximum global insolation

        I've apparently mixed my comparisons when figuring out how to phrase it best; as written, it obviously makes no sense. This should have read "less than one fourth the maximum global insolation". Or alternatively, "less then four times worse than the maximum global insolation".

    • If you want to increase production by orders of magnitude, as this kind of project would require, you'd have to go for less economic ways of making lithium. And that means orders of magnitude higher costs.

      You'd need some kind of quantitative analysis to support that point.

      Many mineral resources are distributed according to a "resource pyramid", where there is vastly more resource available at each step down in ore grade. In which case, an order of magnitude increase in production may require only slightly

      • by Luckyo ( 1726890 )

        Two problems. One is that we've seen countless papers that suggest it's "economically feasible to mine whatever resource we want from salt water and brine". Essentially all of them never materialise into working technology.

        Other is the fact that pretty much everyone and their grandma is currently investing in mining lithium, all while expecting massive price rises because this is a commodity that doubled its price in last six years and is growing at around 20% a year now, on an accelerating growth trend. So

    • and energy requirements are at their highest when sunny periods are at their lowest.
      It is usually opposite around. Unless you heat with electricity.

      • by Luckyo ( 1726890 )

        I like how you always start with denying the obvious in your post, and end up contradicting yourself in the end.

        At least this time you saved me time of reading several paragraphs of garbage before admitting to my statement being correct. And as usual, cutting the key part from the quote.

        Reminder for those that missed the good old greenpeace grade quote master above, the full sentence he partially quoted was:

        >solar doesn't scale all that well, because there are too many regions where there isn't enough s

        • solar doesn't scale all that well, because there are too many regions where there isn't enough sun, and energy requirements are at their highest when sunny periods are at their lowest.
          Again: that is simply wrong.
          Again: unless you heat with electricity, which outside of France I'm not aware anyone is doing.

          • by Luckyo ( 1726890 )

            >Again: unless you heat with electricity, which outside of France I'm not aware anyone is doing.

            Thank you for once again sharing with us that you have no clue.

          • Millions of us in the South heat with electricity, either with resistance coil space heaters or heat pumps. Watch the reality show "Life Below Zero" about Alaskans who live near or above the Arctic circle. One town has some small wind turbines and I guess diesel generators and the homes are heated with electric space heaters.

            Most of the time in the South it is coldest after a front comes through with clear skys, perfect for solar panels. In the far North the wind blows the most when it is the coldest.

    • So don't use lithium for the batteries. It's not like you need to drive them around or carry them in your pockets. These will be batteries that just sit somewhere, it won't make any difference how heavy they are.
      • by Luckyo ( 1726890 )

        Like I noted, I'm talking about the study. Study specifically cites lithium batteries. There's always a chance that things like sodium batteries will become acceptable.

  • by DatbeDank ( 4580343 ) on Wednesday June 20, 2018 @05:25PM (#56818562)

    Funny thing about predictions, they're easily able to be BS'ed and in 33 years time, no one is going to remember if they were right or not.

    For all we know, there may be an even better technology that comes out that is cheaper and even better than solar energy or wind.

    • by AmiMoJo ( 196126 )

      It's not about being right or wrong, it's about setting out what the likely future is going to be so we can plan accordingly.

      That's why once you get past the headline black and white claims most of these predictive reports give probabilities and multiple possible scenarios.

  • Seriously, we need to stop building fossil fuel plants, esp. coal. These are going to kill this.
  • this is the image that says it all:
    https://cdn.arstechnica.net/wp... [arstechnica.net]

    Look at the line drawn to signify the "present"... that is where we are now.

    Everything beyond that is speculation. You can say "but we have people talking about building X or Y"... sure. And I've seen enough of these projection graphs created for other things to know they're not worth much. They tend to be wildly inaccurate.

    I'd throw out a few examples but I can already hear the politicos Reeeing over how embarrassing it is to show predicti

  • We all know fusion power is only 10 years away now after being 25 years away for the past 80, so limitless cheap, clean nuclear fusion power will dominate by 2050 for sure.
  • There should be outright international policy that subsidising old fossil fuel operations is outlawed, subsidising renewables encouraged.

    If not outright banning installing anything but sustainable.

    Would it be bad economically. Yes. But I don't think it would actually be a total crash Wipeout. Within 5 years the costs wood drop very much, tech improvements realised faster.

    Could benefit all of us.

    We're all too short sighted.

  • They even covered it in the summary. Nuclear is expected to drop off. So what is the prediction based on? I sure hope it's not historic trends given:
    % coal used in energy generation in 1997: 38.5%
    % coal used in energy generation in 2017: 38.5%

    Worse still the percentage of coal in the energy mix along with it's consumption actually rose last year (thanks India).

    https://www.bloomberg.com/view... [bloomberg.com]

    Time to buy a new car I think: http://madmax.wikia.com/wiki/T... [wikia.com]

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