At a time when oil and gas are trading at record high prices the cost of renewable energy is at record lows. From the World Economic Forum:
https://www.weforum.org/agenda/2021/07/renewables-cheapest-e…
And the differences in costs only get larger as the price of petroleum continue to rise.
OTFoolish
Renewables were the world’s cheapest source of energy in 2020
From January 2022:
Global Inflation Ends Era of Ever-Cheaper Clean Energy
www.bloomberg.com/news/articles/2022-01-20/say-goodbye-to-cl…
The era of ever-cheaper clean power is over, giving a fresh jolt of uncertainty to global energy markets…Relentless price declines over the past decade made renewables the cheapest sources of electricity in much of the world. In the past year, though, prices for solar panels have surged more than 50%. Wind turbines are up 13%, and battery prices are rising for the first time ever.
After years of rapid-fire advances in technology and manufacturing, there are fewer opportunities left to cut costs without sacrificing profits. Instead of perpetually falling, prices will now ebb and flow based on the cost of raw materials and other market forces…
Policy makers, accused of adding wind and solar so rapidly that electric grids have become unstable, are under pressure to ensure the entire system is more reliable — by pairing solar with batteries, for example, or keeping aging nuclear plants running for longer. “From now on, what’s going to make the difference around the expansion of solar and wind is not going to be costs — how low can you go? — but value,” said Edurne Zoco, executive director of clean technology and renewables at research firm IHS Markit Ltd.
DB2
From January:
Global Inflation Ends Era of Ever-Cheaper Clean Energy
From June:
Solar Panel Material Price Hits Highest in a Decade in China
www.bloomberg.com/news/articles/2022-06-22/solar-panel-mater…
The average cost of the most expensive grade of polysilicon rose to 273.1 yuan ($40.62) per kilogram on Wednesday, according to the China Silicon Industry Association, surpassing last year’s high of 272.2 yuan. Prices for the ultra-conductive material last year reversed a decade of steady declines to hit the highest level since 2011…
DB2
Inflation is hitting all sectors of the worldwide economy.
Jaak
Inflation is hitting all sectors of the worldwide economy.
Very true. At the same time, as pointed out in other threads, renewable energy penetration can no longer count on ever decreasing prices.
DB2