Wind and solar are 'fastest-growing electricity sources in history'
Wind and solar energy are rapidly growing, surpassing other electricity sources. They prevent increased emissions but need faster expansion to meet rising energy demands sustainably, especially with solar's cost-effectiveness and challenges in generation growth.
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Wind and solar energy sources are experiencing unprecedented growth, outpacing all other forms of electricity generation in history, according to a recent analysis by thinktank Ember. This rapid expansion is projected to surpass the increasing demand for electricity, leading to a peak in fossil fuel electricity generation and subsequent emissions starting this year. Despite renewables meeting a record 30% of global electricity demand in 2023, emissions would have already peaked if not for a decline in hydropower generation. The report highlights that wind and solar have been instrumental in curbing the growth of fossil fuel power, with their contribution preventing a substantial increase in global emissions. However, to achieve the goal of tripling renewables by 2030 and significantly reduce power sector emissions, the growth of clean energy sources must accelerate. Solar energy, in particular, is highlighted for its rapid expansion and cost-effectiveness. While wind and solar capacity increased in 2023, generation growth was slower than expected due to various factors like lower sunlight levels and underreporting. The report also notes a surge in global electricity demand, driven by the electrification of various sectors, including transportation and heating, emphasizing the need for further clean energy expansion to meet rising energy needs sustainably.
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6 comments1) "Wind and solar are super cheap and continue to get cheaper"
https://cleantechnica.com/2024/06/25/lcoe-of-solar-wind-stil...
https://www.theguardian.com/australia-news/2023/dec/21/solar...
2) "More solar and wind was installed in the last year compared to last year - 1"
https://www.canarymedia.com/articles/solar/chart-the-us-inst...
https://apnews.com/article/energy-global-wind-report-2024-74...
3) "Utility bills have never been higher"
https://www.utilitydive.com/news/us-electricity-prices-rise-...
https://www.nytimes.com/2024/02/13/business/energy-environme...
https://www.nytimes.com/2024/01/11/us/politics/utility-bills...
So, how can all three of these phenomena be true? Is solar/wind actually cheap? Are utility companies pocketing the difference (hint: yes, in many cases, but co-op prices are also at record highs per kWh)? Is something else going on (meaning wind/solar aren't actually "cheap" in the whole scheme of running a reliable grid 24/7/365)?
Low level propaganda that has for decades supported center-right parties doing their best to slow the transition has clearly stepped up into desperation and wild claims lending support to far right parties.
I guess it's a race, can the obvious success of renewables and EVs happen fast enough to make the far-right's complaints and conspiracies seem laughable, or do we welcome a decade dominated by fascists in the West and then a century dominated by Chinese communists who are paying a bit more attention to where the puck is headed?
We have a group of people like me or real investors who invest in solar. I bought a balcony powerplant. It's just 600 watts but because how the market works, I disrupt it with this as everyone else who invests in it.
Other sellers.of energy see their profits swindle and another potentially independent group sees all this free overproduction of renewable as another opportunity.
You basically have to invest if you own old power plants to not loose to the others.
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