Lower Battery Prices Help Win and Solar

Posted Posted in Renewable Energy, Solar, Storage, Wind

Fueled by cheap battery costs, wind and solar power are poised to produce nearly 50% of the world’s electricity by 2050, according to a Bloomberg New Energy Finance report released Tuesday.

Why it matters: Renewable energy is getting cheaper as its technologies reach greater economies of scale. Notable this year are the falling prices for batteries that store energy generated by the wind and sun, which have become cheaper and easier to implement than previously forecast.

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Natural Gas Killed Coal – Not Renewables

Posted Posted in Renewable Energy, Solar, Storage, Wind

Now renewables and batteries are taking over.

Over the past decade, coal has been increasingly replaced by cheaper, cleaner energy sources. US coal power production has dropped by 44% (866 terawatt-hours [TWh]). It’s been replaced by natural gas (up 45%, or 400 TWh), renewables (up 260%, or 200 TWh), and increased efficiency (the US uses 9%, or 371 TWh less electricity than a decade ago). (more…)