Renewables Set To Dominate...Hopefully
Submitted by larryf13 on Thu, 06/30/2016 - 11:04am
There is little doubt that renewables are here to stay. There is simply no other way of preventing our environment from heating to a point where life for future generations will be very different in a most significant negative way.
On the good side, the (Bloomberg Energy) outlook for projected investments for 2016 is $11.4 trillion, yes.trillion, in power generation over the next 25 years. Over two thirds of this ($7.6 t) will be invested in renewable energy, The balance will go toward fossil fuel and nuclear power.
Solar will most likely lead the charge, as it will be the most cost effective in most countries. Wind will be following close behind. The two combined will account for approximately 30% of global power generation in the next twenty five years. Time and technology have produced a dramatic drop in cost of PV panels that were thought impossible just a few years ago. At a recent auction in Zambia, Africa, they were able to introduce solar to their area for slightly over six cents / kwh.
In a move that surprised some, Saudi Arabia is showing interest in solar and is quietly talking to developers to build solar PV plant(s) in the kingdoms northern region. This is a bold move on the part of the Saudi's and possibly is an expression of the shake-up in senior Saudi leadership.
The upcoming election will be the one (major) unknown in our renewable future. Mr. Trump has made it clear that he is looking at the COP21 agreement as something that needed to be reviewed and possibly cancelled. Additionally, he opposes a carbon tax and also wants to review wind and solar subsidies on wind and solar and stopped short of indicating cancelling them. If he were to follow through with some of these statements, it would definately be taking many steps back in our efforts to control the future of climate change. A lot hangs in the balance.
Larry is a volunteer for GENI heading up the clean energy Global Climate 100 investment product. He is a mechanical engineer doing research & development on various alternative energy projects including generating electricity from the power of waves. A long time follower of stocks and investments, now involved in the global shift to alternative energy by investing in companies that operate in three key environmental areas: clean technology and efficiency, renewable energy, and future fuels.