Musk continues to be the most ambitious executive acting to address climate change.Business Insider
Elon Musk Announced Another Huge Bet Today, And The Fate Of The Solar Industry Is Riding On It
Rob Wile
An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Musk continues to be the most ambitious executive acting to address climate change.Business Insider
In order for a new alternative fuel to truly fix our current predicament, it would need the following characteristics:Our Finite World
- Abundant – Available in huge quantities, to meet society’s ever-growing needs.
- Direct match for current oil or electricity – Needed to avoid the huge cost of building new infrastructure. Electricity needs to be non-intermittent, to avoid the cost of mitigating intermittency. We also need an oil substitute. This oil substitute theoretically might be generated using electricity to combine carbon dioxide and water to create a liquid fuel. Such substitution would require time and investment, however.
- Non-polluting – No carbon dioxide or air and water pollution.
- Inexpensive – Ideally no more than $20 or $30 barrel for oil equivalent; 4 cents/kWh electricity. Figure 15 shows wage growth has historically occurred primarily below when oil was below $30 barrel.
- Big energy gain in the process, since it is additional energy that society really needs – This generally goes with low price.
- Uses resources very sparingly, since these are depleting.
- Available now or very soon
- Self-financing – Ideally through boot-strapping–that is, generating its own cash flow for future investment because of very favorable economics.
According to the latest research from Bloomberg New Energy Finance, electricity from wind power can now be supplied more cheaply in Australia than power from either coal or natural gas — and solar and other forms of renewable energy aren’t far behind.
Older coal-fired power plants from the 70s and 80s still compete at lower prices than renewables — but only because their construction costs have depreciated. For the deployment of any new power generation in Australia, renewables now appear to be the way to go.
Australia currently charges polluters $23 in Australian dollars per metric ton of carbon they emit, but the study concluded that wind power would still undercut fossil fuels even without that correction of the market’s failure to properly build in the costs of carbon pollution....Climate Progress
Over the course of the past half-century, the U.S. military has proven prescient when it comes to developing and implementing new technology. From satellites to microwave technology to the internet to cellular phones, the military has taken the lead on nearly every significant technological advance that has later swept the private and consumer markets. Now, the military is getting a leg-up on another technology that is poised to lead the next major private-sector revolution - not weapons or communications, but large-scale mobile solar-powered energy systems.
Through a contract with SunDial Capital Partners, the Department of Defense has been implementing a new interface for mobile solar technology. Founded in 2009, SunDial pioneered a system custom-made for on-the-move military operations, harnessing renewable solar energy into a highly mobile unit. With deep military roots, SunDial President Dan Rice, Vice President Keegan Cotton, and Partner Lee Van Arsdale - all three West Point graduates and combat veterans - recognized a unique market for mobile power supply. As energy prices from traditional fuels rise and the military's dependence on energy continually grows, SunDial envisioned a new application for existing solar technologies for remote locations.Read it at Sirra Club Compass
In-Q-Tel of Arlington, Virginia, United States is a not-for-profitventure capital firm that invests in high-tech companies for the sole purpose of keeping the Central Intelligence Agency, and other intelligence agencies, equipped with the latest in information technology in support of United States intelligence capability.
If the U.S simply committed to building out the transmission infrastructure, the Department of Energy (DOE) believes that currently existing renewable energy technology “is more than adequate” to supply up to 80 percent of the nation’s daily electricity use by the year 2050, a new study has found.
Put together by the DOE’s National Renewable Energy Labratory, the study is the largest-ever to examine the nation’s potential renewable energy capacity. It predicts that while fossil and nuclear fuels will still be needed in 2050, they won’t continue to supply the more than 60 percent of America’s energy they do today.
The U.S. Energy Information Center noted that in the 12 months ending in March 2012, coal, natural gas and nuclear were still by far the most relied-upon sources of power, with coal coming out on top, accounting for more than 40 percent of U.S. electricity generation. But provided the U.S. has the political will and the private sector motivation to build out the transmission grid, the DOE believes wind power will become a dominant a force in the U.S. energy market.
Combined with solar, the two technologies could supply up to 50 percent of daily U.S. electricity use on their own, the study found. The DOE also noted that all regions of the U.S. have roughly equivalent opportunity for renewable energy exploration, with offshore areas being prime real estate for wind energy generation.
The greatest challenge foreseen by the study is growing the transmission capabilities for wind energy, which must expand beyond 439 gigawatts [from the present 50] if the DOE’s numbers are to ever be fulfilled.Read it at Raw Story
A scientific breakthrough by researchers at the Massachusetts Institute of Technology(MIT) has produced a new type solar cell capable of absorbing energy from the infrared spectrum, where about 40 percent of the energy in sunlight exists.
All prior solar cells ignored the infrared spectrum for energy stored in visible light, but the new cell uses purified carbon fibers converted into microscopic tube-like structures called nanotubes to capture the hidden power. Details of the new cell were published in the latest edition of the scientific journal Advanced Materials.
A bonus: Researchers said that because the cells are transparent, they could one day be laid on top of currently existing solar arrays, turning the less-efficient and more common photovoltaic cells into hybrids capable of much greater energy output.Read it at Raw Story
Although the new cells’ energy conversion efficiency ratio is currently very low, the team believes they can scale it up as the product becomes more refined with later iterations. If widely adopted, the new technology could give the U.S. a significant leg up on its renewable energy goals.
A new report from the prominent global consulting firm McKinsey shows why solar photovoltaics have hit a tipping point.
As the economics of solar PV continue to improve steadily and dramatically, McKinsey analysts conclude that the yearly “economic potential” of solar PV deployment could reach 600-1,000 gigawatts (1 million megawatts) by 2020.In the year 2000, the global demand for solar PV was 170 megawatts.
That doesn’t mean 1 million megawatts will get built per year after 2020; it’s just an estimate of the economic competitiveness of solar PV. When factoring in real-word limitations like the regulatory environment, availability of financing, and infrastructure capabilities, the actual yearly market will be closer to 100 gigawatts in 2020.
That could bring in more than $1 trillion in investments between 2012 to 2020.
The McKinsey report, appropriately named “Darkest Before Dawn,” highlights three crucial factors that are giving the solar industry so much momentum — even with such a violent shakeout occurring in the manufacturing sector today.
Solar energy will become competitive in 10 years and the world is set to enter the solar/hydrogen fusion era in 20 years, renowned theoretical physicist Dr Michio Kaku has told Gulf Times.
“The falling cost of solar, hydrogen, renewable, wind power, geothermal power and the rising cost of fossil fuels will cross within 10 years, causing market forces to kick in and push solar and then in 20 years, fusion power becomes a possibility,” he predicted
Last week I wrote about the time-of-use pricing scheme that PG&E offers in San Francisco, and how solar power is worth 14% more compared to a standard flat-rate electricity plan. In reality, it's 36% or more.
In the interest of simplicity, I only looked at the rates PG&E charges for using up to ~250 kilowatt-hours (kWh) per month (their "baseline" rate). But baseline rates only apply to the first 3,000 kWh consumed per year, one-third the U.S. average. Very few customers use so little electricity.
Rather, most customers will consume electricity in Tier 2, which applies to consumption from 3,000 to 6,900 kWh per year, or even Tier 3, which applies to consumption up to 14,500 kWh. And the electricity rates in these tiers are substantially higher.
Most of the talk about renewable energy is aimed at electricity production. However, most of the energy we need is heat, which solar panels and wind turbines cannot produce efficiently. To power industrial processes like the making of chemicals, the smelting of metals or the production of microchips, we need a renewable source of thermal energy. Direct use of solar energy can be the solution, and it creates the possibility to produce renewable energy plants using only renewable energy plants, paving the way for a truly sustainable industrial civilization.