Climate Change deniers have won - Finally

[sumdumguy]

National Post article Sept 22. Lawrence Solomon lays it all out for the lemmings!

[chuckChuck]

https://about.bnef.com/new-energy-outlook/

Bloomberg New Energy Finance
New Energy Outlook 2017

Findings
1
Solar and wind dominate the future of electricity

72% of the $10.2 trillion spent on new power generation worldwide to 2040 will be invested in new wind and solar PV plants.
2
Solar energy’s challenge to coal gets broader

Solar is already at least as cheap as coal in Germany, Australia, the U.S., Spain and Italy. The levelized cost of electricity from solar is set to drop another 66% by 2040.
By 2021, it will be cheaper than coal in China, India, Mexico, the U.K. and Brazil as well.
3
Onshore wind costs fall fast, and offshore falls faster

Onshore wind levelized costs will fall 47% by 2040, thanks to cheaper, more efficient turbines and advanced OPEX regimes. In the same period, offshore wind costs will slide a whopping 71%, helped by experience, competition, and economies of scale.
4
China and India lead in energy investment

They account for 28% and 11% of all investment in power generation to 2040. Just under a third of Asia Pacific’s investment in energy will go to wind, a third to solar, 18% to nuclear and 10% to coal and gas.
5
Batteries and flexibility bolster the reach of renewables

Utility-scale batteries increasingly compete with natural gas to provide system flexibility at times of peak demand. In conjunction with small-scale batteries, this will help renewable energy reach 74% penetration in Germany, 38% in the U.S., 55% in China and 49% in India by 2040.
6
Electric vehicles bolster electricity use

In Europe and the U.S., EVs will account for 13% and 12% of electricity demand by 2040. Charging EVs flexibly, when renewables are generating and wholesale prices are low, will help the system adapt to intermittent solar and wind.
7
Homeowners’ love of solar grows

By 2040, rooftop PV will account for as much as 24% of electricity in Australia, 20% in Brazil, 15% in Germany, 12% in Japan, and 5% in the U.S. and India. This, combined with the growth of large-scale renewables, reduces the need for existing large-scale coal and gas plants.
8
Coal’s point of no return

Sluggish demand, cheap renewables and coal-gas fuel switching slash coal use by 87% in Europe and 45% in the U.S. by 2040, while coal generation continues to grow in China but reaches peak in 2026. A mere 18% of planned new coal power plants will ever get built. That means 369GW of projects stand to be cancelled.
9
Gas is a transition fuel, but not in the way most people think

Gas-fired power sees $804 billion in new investment and 16% more capacity by 2040. But save for the Americas, where gas is plentiful and cheap, gas plants will mainly act as one of the flexible technologies needed to help meet peaks and provide system stability.
10
Global power sector emissions peak in 2026

CO2 emissions from power generation increase by a tenth before peaking in 2026, then falling faster than we previously estimated, lining up with China's peak coal generation. However, a further $5.3 trillion investment in 3.9TW of zero-carbon capacity would be required to keep the planet on a 2-degrees-Celsius trajectory.

[furrowtickler]

Yup , will work in countries in mid latitudes

[chuckChuck]

Lawrence Solomon is full of shit. Bloomberg must be one those lefty ecoactivist organizations right? Oh but Solomon quoted them in the NP article. But the master of spin can spin away all he wants and suckers will line up.

[chuckChuck]

Another Bloomberg Report from June 2017:

Solar Power Will Kill Coal Faster Than You Think

https://about.bnef.com/blog/solar-power-will-kill-coal-sooner-than-you-think/

[RD414]

Quadruple the price of a new Chevy Tahoe with taxes and a new Bentley suv would be cheaper. Solar would take a while overcoming coal at 30 bucks a ton.

[seldomseen]

So Chuck how is your solar projects coming along? Will you have your air fans spinning cooling off your grain this fall? I would like to see what you get set up and I am sure others on here would like to see what your building. Please keep us uninformed informed.

[malleefarmer]

wrong re australia

[checking]

What is so magically about 2040, except that most of the current average age of farmers discussing climate change and the lack of it to 2040 will be dead? Best that chuckles gets on with his solar powered farm projects because the clock is ticking.

Enjoyed the article, sdg. Thank you for posting.

[blackpowder]

The best driver for development is a healthy economy. How can we develop new energy sources while crippling ours??

[burnt]

wrong re australia

And all the rest on that list as well, when taking into account the subsidies given to solar, et all.

But the ecofreaks don't like having facts spoil their narrative, so best left unsaid. LOL!

Okay, this needs to be said as well - the real costs of disposing of the solar panels is just being made public now - nobody has a sustainable solution to recycle them. So in only another decade or so we will be faced with hundreds of thousands of tonnes of degraded PV panels.

The catch-22 is this - if the production costs drop as much as the proponents say they will, it won't be economically feasible to recucle anything but the aluminum frames and a few metal parts.

Yes indeed, that will be green - and require MORE subsidies.

[chuckChuck]

Its obviously difficult for many of you to accept any independent analysis and forecasts from Bloomberg that don't fit your political views.

Because you are all more well informed than the Bloomberg Business specialists who study this for a living.

LOL

[Robertbarlage]

Please show what u have done we're waiting.

[chuckChuck]

Still looking at options. There are turn key options or you can buy a lot of the components and do a lot of the install yourself. You need an electrician. A local electrician just did a 5 day solar course this summer.

Just came back from a neighbor who has about a 30 kw system installed. He is a farmer and former accountant who has crunched the numbers and pay back is about 10 years and expect another 20 years of low cost electricity under the net metering program in Saskatchewan before the panels need replacing.

I will let you know when I make my decision. The longer I wait the more the panels increase in efficiency and the costs go down. There's no rush guys. My kids will enjoy the fruits of our labour and investments and I am hoping to live another 30-40 years if I am lucky. Freedom 85 as we say in farming!

[grassfarmer]

And all the rest on that list as well, when taking into account the subsidies given to solar, et all.

But the ecofreaks don't like having facts spoil their narrative, so best left unsaid. LOL!

Okay, this needs to be said as well - the real costs of disposing of the solar panels is just being made public now - nobody has a sustainable solution to recycle them. So in only another decade or so we will be faced with hundreds of thousands of tonnes of degraded PV panels.

The catch-22 is this - if the production costs drop as much as the proponents say they will, it won't be economically feasible to recucle anything but the aluminum frames and a few metal parts.

Yes indeed, that will be green - and require MORE subsidies.

Just like the oil and gas industry then? The cost of cleaning up the current # of abandoned and inactive wells in Alberta is more than the value of all the oilfield companies operating in that jurisdiction. If they had to do it, as law requires, the entire oil and gas industry there would be insolvent tomorrow. So of course the taxpayer is going to be on the hook for the cleanup. Don't kid yourself oil and gas production in Canada is either environmentally sound, sustainable or unsubsidized.