One of the reasons the supremacy of oil may be challenged in the coming decades is the rapid rise of renewable energy resources, now on the verge of being the cheapest forms of energy, certainly in electricity generation. A June 2018 study by Bernstein documents the persistent drop in the levelized cost of electricity (LCOE) from renewable generation over time with projections of where future cost reduction potential lies. The report argues that the cost of onshore wind, offshore wind and solar power is likely to be well below the cost of fossil fuel generation nearly everywhere. Few dispute such findings. Cheap and plentiful electricity supplies will make electrification of the global economies so much easier.
Renew Economy 30th July 2018 read more »
Onshore and offshore wind power rose by 34% last year in the UK compared to 2016, new government statistics show. The latest Digest of UK Energy Statistics (DUKES), published yesterday by the Department for Business, Energy and Industrial Strategy (BEIS), also shows that coal supplied just 5% of UK energy in 2017. Only five years earlier, it supplied 20%. But the report also reveals a tailing off in the expansion of solar electricity. This increased by 38% in 2016, but only rose 11% last year. Carbon Brief has produced six charts to illustrate the changes occuring in the UK’s energy mix.
Carbon Brief 30th July 2018 read more »
Trade unions said today that the “great renewables rip off must stop now” following a “successful” trip to Canada to meet new BiFab owners DF Barnes. GMB and Unite said the meeting with the Newfoundland firm was “productive”, but hit out at the lack of supply chain opportunities in Scotland. GMB Scotland secretary Gary Smith described the situation for Scottish workers a “rip off”, adding that those who subsidise Scotland’s windfarms are denied the opportunity to build those windfarms”. The anger from unions centres on recent redundancies amid a dearth of future offshore wind contracts.
Energy Voice 30th July 2018 read more »