A team led by renowned Stanford University futurist Tony Seba says most of the world can transition to 100 per cent wind, solar and storage electricity grids within the coming decade, in what they describe as the fastest, deepest and most profound disruptions ever seen in the energy industry. The RethinkX team led by Seba, one of the few analysts to correctly forecast the plunging cost of solar over the last decade, predicts that the disruption caused solar, wind and lithium-ion battery storage, or SWB, will be similar to the digital disruption of information technology. “Just as computers and the Internet slashed the marginal cost of information and opened the door to hundreds of new business models that collectively have had a transformative impact upon the global economy, so too will SWB slash the marginal cost of electricity and create a plethora of opportunities for innovation and entrepreneurship.” “Our analysis shows that 100% clean electricity from the combination of solar, wind, and batteries (SWB) is both physically possible and economically affordable across the entire continental United States as well as the overwhelming majority of other populated regions of the world by 2030. “Adoption of SWB is growing exponentially worldwide and disruption is now inevitable because by 2030 they will offer the cheapest electricity option for most regions. Coal, gas, and nuclear power assets will become stranded during the 2020s, and no new investment in these technologies is rational from this point forward.” The analysis from Seba and the RethinkX team is just the latest of a series of important reports that have been released in recent weeks and months that look at the pace of technology change, the energy transition and climate goals.
Renew Economy 28th Oct 2020 read more »