Renewables Are Cost-Competitive with Fossil Sources, Report Says
Engineering360 News Desk | February 09, 2017The Lloyd’s Register Technology Radar – Low Carbon examines the outlook for renewables, nuclear, grid and infrastructure, and energy storage.
The research sought the insights and opinions of leaders across the sector, as well as the views of almost 600 professionals and experts around the world – from utilities and distributors through to operators and equipment manufacturers.
Deployment remains a major barrier, the report says.Respondents were asked to rate a number of technologies in terms of their potential impact, the amount of time it would take for these technologies to hit the market, and how likely they are to be adopted once they do. Respondents were also asked on reflect on the pace and success of innovation in their sector - and what they see as the major drivers and blockers.
Key findings include:
• Low carbon generation technologies are cost competitive: 70% of renewables respondents say that renewables are now reaching cost parity with fossil fuels.
• Solar cell technology is likely to have a major impact, and soon. Renewables respondents are most optimistic about the potential of advances in solar cell technology - and the likelihood of adoption.
• Software advances will be instrumental in transmission and distribution. They are seen by respondents as the innovation that will be the quickest to arrive and the most likely to be adopted. Blockchain could reshape the way we think about the transmission and distribution of power by enabling a new era of peer-to-peer low carbon generation.
• It is electrical technologies that will transform storage, rather than mechanical storage or chemical technology innovations. In particular, respondents expect supercapacitors, which will rapidly speed up charging times for large batteries, to have the greatest impact on storage.
• Deployment is a major barrier. Implementation of technology in renewables is hindered by deployment, which faces its own distinct challenge. However, 71% of respondents agreed there had been an increase in the scale of deployment of renewable energy sources.
• Standardisation as a much-needed development for the low carbon sector. Industry experts agree that regional and global consensus on regulations could speed up deployment and further reduce costs.
“We are very encouraged by the findings, which highlight not only a growing optimism across the industry but a vigorous and intelligent debate about the pathways to decarbonisation,” says Alasdair Buchanan, Energy Director of Lloyd’s Register.
This cost improvement is added to the fact that in Spain more than 50% of the electric bill are taxes, while taxes for buying a product, sich as a solar panel, are 21%. I have no idea why people would not invest in more renewables.
Sitting here in Maine awaiting a 2+ day blizzard; contemplating no grid power.....it was once out for 8 days and we live in a college town. Solar panels in neighborhood are iced over and will stay that way until next week when Sun comes back out.
Now suppose those neighborhood solar farms were off line; and the grid was also out of order; what do we turn to?
Right, a fossil fueled generator. Most neighbors have propane or K1; we have natural gas; others use gas. So much for depending on local solar farms for power.
The other half of the problem is that my two snowblowers are gas powered; not electric like the neighbors which doesn't work well with over 6" of wet snow.
Just saying, I love renewable's but there times when they can't be depended on....Green schemes dreamed up in California or New Yawk, seem to come apart in the rest of the world.
.....bringing more wood for wood stove; before CNG we would cook on it, heat with it, and boil water for sponge bathes. Now gas stove, hand ignited with a fossil fueled lighter, does the water boiling, and cooks food. One drawback; wood stove can't heat entire house so we discovered things called doors; shut them and you have one cozy living room and a bedroom with down quilts. I've played around with a computer 'suit' that was heated with a solar panel; but like other projects, the math was daunting.