By 2030, renewables will account for 70 percent of new power supply worldwide, according to projections released Monday from Bloomberg New Energy Finance. Bloomberg analysts examined gas prices, carbon prices, the dwindling price of green energy technology, and overall energy demand (which, in the U.S. at least, is on a massive decline), and found solar and wind beating fossil fuels like coal and natural gas by 2030.
…we need a combination of all three types of incentives: funds to encourage more R&D and get the next generation of technologies primed for market; incentives to scale up manufacturing and newly-commercialized technologies a chance to scale; and deployment incentives that provide the most cost-competitive products with a path to market.
Regardless, Japan’s facing rolling blackouts until next Winter, and it’s undeniable that if the country had more distributed power generation like Germany’s roof-based solar PV system, the entire country would be much more resilient in the face of catastrophe.
Power sectors based on coal, gas and renewables have so far been shy to present their merits, because they do not want to appear as winners of the negative publicity for nuclear that has been caused by the Japanese disaster, observers say. The standard argument against renewables is their volatile production levels. BEE said an expansion could cure that problem, but could not happen as long as Germany is oversupplied with thermal capacity.