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Why Charles Darwin Would Love Distributed Energy
Why Charles Darwin Would Love Distributed Energy
“Energy Darwinism” report finds that dramatic changes in energy favor distributed power.
Martin LaMonica October 16, 2013
If you're getting the sense that the world of energy is in for some dramatic changes, the number crunchers have some data to back up your hunch.
Three recent reports released in the last week spell out how the economics of the electric power business have changed over the past few years, arguing that technology will accelerate the trend toward distributed power generation.
Investment bank Citi published a broad analysis of the world’s energy markets called Energy Darwinism that predicts that 71 percent of the money invested in power generation between now and 2035 will be in renewables or nuclear. More than 40 percent of that sum, which represents more than $4 trillion, will go to wind and solar, Citi’s energy economists concluded.
Solar, in particular, has shown an “alarming” learning rate where every doubling of production capacity results in a 30 percent price decline for panels. At 7.4 percent, wind’s learning rate is slower, but the technology has become cost-competitive with natural gas plants in some locations. Based on these cost reduction curves, Citi’s economists forecasted when utility-scale wind and distributed solar will cost the same as conventional fuels...
“Energy Darwinism” report finds that dramatic changes in energy favor distributed power.
Martin LaMonica October 16, 2013
If you're getting the sense that the world of energy is in for some dramatic changes, the number crunchers have some data to back up your hunch.
Three recent reports released in the last week spell out how the economics of the electric power business have changed over the past few years, arguing that technology will accelerate the trend toward distributed power generation.
Investment bank Citi published a broad analysis of the world’s energy markets called Energy Darwinism that predicts that 71 percent of the money invested in power generation between now and 2035 will be in renewables or nuclear. More than 40 percent of that sum, which represents more than $4 trillion, will go to wind and solar, Citi’s energy economists concluded.
Solar, in particular, has shown an “alarming” learning rate where every doubling of production capacity results in a 30 percent price decline for panels. At 7.4 percent, wind’s learning rate is slower, but the technology has become cost-competitive with natural gas plants in some locations. Based on these cost reduction curves, Citi’s economists forecasted when utility-scale wind and distributed solar will cost the same as conventional fuels...
http://www.greentechmedia.com/articles/read/why-charles-darwin-would-love-distributed-energy
