Home / News / 100% Renewable Energy Worldwide Isn’t Just Possible, It’s More Cost-Effective Than the Existing System

100% Renewable Energy Worldwide Isn’t Just Possible, It’s More Cost-Effective Than the Existing System


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Transitioning the universe to 100 percent renewable electricity isn’t just some environmentalist siren dream—it’s “feasible at every hour via the year” and is some-more cost-effective than the stream system, which mostly relies on hoary fuels and nuclear energy, a new study claims.

The research, gathered by Finland’s Lappeenranta University of Technology (LUT) and the Berlin-based nonprofit Energy Watch Group (EWG), was presented Wednesday at the Global Renewable Energy Solutions Showcase, a stand-alone eventuality coinciding with the COP 23 climate talks in Bonn, Germany.

The authors contend that the existent renewable appetite intensity and technologies joined with storage can beget adequate appetite to meet the global electricity direct by 2050.

The researchers guess that the switch will bring the sum levelized cost of electricity on a global normal down to €52 ($61) per megawatt-hour (including curtailment, storage and some grid costs) compared to €70 (82) megawatt-hour in 2015.

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“A full decarbonization of the electricity complement by 2050 is probable for revoke complement cost than currently formed on accessible technology,” pronounced Christian Breyer, the lead author of the study.

“Energy transition is no longer a doubt of technical feasibility or mercantile viability, but of domestic will,” combined Breyer, who is also a highbrow of Solar Economy at LUT and serves as authority of EWG’s Scientific Board.

According to the study, solar appetite and battery storage are vicious tools of the transition. Falling prices will also lead to widespread adoption of the technologies. The researchers envision that the globe’s electricity brew by 2050 will include of solar photovoltaics (69 percent), breeze appetite (18 percent), hydropower (8 percent) and bioenergy (2 percent).

By following this path, hothouse gas emissions in the electricity zone will come down to 0 and drastically revoke sum waste in appetite generation, the study found. Not only that, the renewable appetite transition would create 36 million jobs by 2050, 17 million some-more than today.

“There is no reason to deposit one some-more dollar in hoary or nuclear appetite production,” EWG boss Hans-Josef Fell said. “Renewable appetite provides cost-effective appetite supply. All plans for a serve enlargement of coal, nuclear, gas and oil have to be ceased. More investments need to be channeled in renewable energies and the required infrastructure for storage and grids. Everything else will lead to nonessential costs and augmenting global warming.”

This is the not the first time researchers have suggested that the planet’s highway to 100 percent renewables is possible. Earlier this year, Stanford University professor Mark Jacobson and 26 co-authors published a study and combined purify energy roadmaps for 139 particular countries. The selected countries emit some-more than 99 percent of all CO dioxide worldwide.

Here are the pivotal commentary of the current study:

  • Existing renewable appetite intensity and technologies, including storage can beget sufficient and secure appetite to cover the whole global electricity direct by 2050. The universe race is approaching to grow from 7.3 to 9.7 billion. The global electricity direct for the appetite zone is set to boost from 24,310 TWh in 2015 to around 48,800 TWh by 2050.
  • Total levelized cost of electricity (LCOE) on a global normal for 100% renewable electricity in 2050 is €52/MWh (including curtailment, storage and some grid costs), compared to €70/MWh in 2015.
  • Due to fast descending costs, solar PV and battery storage increasingly drive many of the electricity system, with solar PV reaching some 69%, breeze appetite 18%, hydropower 8% and bioenergy 2% of the sum electricity brew in 2050 globally.
  • Wind appetite increases to 32% by 2030. Beyond 2030 solar PV becomes some-more competitive. The solar PV supply share increases from 37% in 2030 to about 69% in 2050.
  • Batteries are the pivotal ancillary record for solar PV. The storage outlay covers 31% of the sum direct in 2050, 95% of which is covered by batteries alone. Battery storage provides especially diurnal storage, and renewable appetite formed gas provides anniversary storage.
  • Global hothouse gas emissions significantly revoke from about 11 GtCO2eq in 2015 to 0 emissions by 2050 or earlier, as the sum LCOE of the appetite system
  • The global appetite transition to a 100% renewable electricity complement creates 36 million jobs by 2050 in comparison to 19 million jobs in the 2015 electricity system.
  • The sum waste in a 100% renewable electricity complement are around 26% of the sum electricity demand, compared to the stream complement in which about 58% of the primary appetite submit is lost.

The research was co-funded by the German Federal Environmental Foundation and the Stiftung Mercator.

 

Lorraine Chow is a freelance author and contributor formed in South Carolina.



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