“The cost declines that we are seeing with these technologies are so steep that it becomes a matter of time as to when they start crossing over and becoming competitive in different ways. These things are getting cheaper faster than we thought even a year ago.”
– Seb Henbest, lead author of Bloomberg New Energy Finance’s latest annual New Energy Outlook report, discussing the predicted dominance of solar, renewables and lithium-ion batteries in the global energy mix by 2040.
Posts Tagged "Global"
“By 2020, solar photovoltaic is projected to have a lower [levelized cost of electricity] than coal or natural gas-fired generation throughout the world. Renewable infrastructure has moved much closer to utility-like investments and no longer presents frontier technology-like risks.”
– From the World Economic Forum’s “Renewable Infrastructure Investment Handbook”
“We’re seeing a new reality where solar is the lowest-cost source of energy, and I don’t see an end in sight in terms of the decline in costs.”
– Sami Khoreibi, founder and chief executive officer ofAbu Dhabi-based solar developer Enviromena Power Systems, commenting on the “Wal-Mart effect” of higher volumes and lower margins continuing to bring down solar prices.
“Divestment is speeding up the clock on the final accounting that will show fossil fuels are out and clean energy is in.”|
“Divestment is speeding up the clock on the final accounting that will show fossil fuels are out and clean energy is in.”
– Former Mobil Oil executive Lou Allstadt, quoted in The Guardian in reaction to a report by Arabella investment advisors showing that the value of investment funds worldwide that are committed to selling off coal, oil and natural gas assets has jumped to $5.2 trillion, doubling in just over a year.
“The economics of offshore wind are now improving fast, with the best sites getting closer to striking distance of more mature technologies.”
– Bloomberg New Energy Finance’s Seb Henbest, commenting on global levelized cost projections for offshore wind in the second half of 2016, which at $126 per megawatt-hour are 22 percent below the first half of the year.
“[A]ny investors basing their investment decisions on coal and gas continuing to be the cheapest source of electricity could be deeply misguided.”
– From an analysis by the Carbon Tracker Initiative showing that the global average levelized cost of energy for renewables is now below fossil fuels, even without subsidies.