I can remember when readers would taunt me that only one percent of USA electricity came from non-hydro renewables.
According to the report, energy storage may become the most significant factor to ensure the continued success of the renewable energy sector. The report, which looks at how fuel and electricity markets will evolve by 2040, estimates that renewable energy is taking hold globally faster than many energy experts believe. "Costs of new energy technologies are falling in a way that it's more a matter of when than if", said Seb Henbest, a researcher at BNEF in London and lead author of the report. In fact, in several nations, including Denmark, Egypt, India, Mexico, Peru and the UAE, the price of renewables is now cheaper than fossil fuel production.
The cost of offshore wind power is forecast to fall by 71 percent by 2040, helped in part by increased competition and economies of scale from larger projects and bigger turbines.
Rajinikath preparing to enter politics, says TN Hindu party chief
Not only this, he also promised to donate a whopping Rs one crore for inter-linking of rivers project. When we asked Rajinikanth to enter politics, he said he is in preparation for the same.
In addition, it shows that solar energy is already at least as cheap as coal in Germany, Australia, Spain and the USA, but will also be less expensive in China, India, Mexico, Brazil and the United Kingdom by 2021. That's about the entire generation capacity of Germany and Brazil combined.
The plans would need to include all sources - wind, solar, hydropower, geothermal, oil, natural gas, coal, oil shale and minerals - and preserve current environmental reviews and safeguards. In Europe, the predicted drop is 87%. In 2016, Iowa produced 37 percent of its electricity from wind and solar, Kansas produced 30 percent, Oklahoma produced 25 percent and Texas produced 13 percent. By 2040, the world needs an additional $5.3 trillion that generates 3.9 terrwatts of zero-carbon capacity (the maximum possible electricity output globally) to stop the planet from warming two degrees Celsius higher than pre-industrial levels - which scientists say is the point of no return for runaway climate change.
According to the report from the US Energy Information Administration (EIA), wind power made up 8 percent and solar made up 2 percent of all US electricity in March of this year, based on its monthly data.
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