Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Page added on June 26, 2013

Bookmark and Share

Clean Energy to Beat Gas in Power Mix by 2016,

Alternative Energy

Renewable energy may supply more electricity than nuclear reactors or natural gas by 2016, spurred by declining costs and growing demand in emerging markets, the International Energy Agency said.

Wind, solar, bioenergy and geothermal use may grow 40 percent in the next five years, double the 20 percent pace in 2011, the Paris-based organization said today in a report on the industry. Excluding hydropower, cleaner sources of energy may reach 8 percent of total world electricity generation capacity by 2018, compared with 4 percent in 2011, the IEA said.

The findings are another indication that renewables increasingly are rivaling fossil fuels on price without subsidy as the cost of wind and solar technologies declines. The report suggests ways that governments can do more to reduce the pollution blamed for global warming.

“Renewable power sources are increasingly standing on their own merits versus new fossil-fuel generation,” IEA Executive Director Maria van der Hoeven said in New York today. “Many renewables no longer require high economic incentives.”

Emerging markets will be the largest drivers of the growth for renewables in the next few years, with China accounting for 40 percent, or about 310 gigawatts of new capacity. About 58 percent of total renewable generation in 2018 will come in nations outside the Organization for Economic Cooperation & Development, up from 54 percent in 2012, the IEA said.
Fossil Incentives

Van der Hoeven reiterated the IEA’s push for nations to end fossil fuel subsidies, noting incentives for coal, oil and gas in 2011 “globally were six times higher than renewables” and that “carbon intensity of energy has barely budged in the past 20 years.”

Growth will slow in industrial nations because of subsidy reductions and uncertainty about the government’s support for the technology, said Angus McCrone, an analyst at Bloomberg New Energy Finance. The London-based researcher estimated investment in renewables was $112 billion in 2012 in emerging-market nations, compared with $132 billion for developed economies, the smallest gap ever between the two.

“The places that really need the capacity the most are developing countries and they also have the resources,” McCrone said in an interview.

Bloomberg



7 Comments on "Clean Energy to Beat Gas in Power Mix by 2016,"

  1. Plantagenet on Wed, 26th Jun 2013 10:12 pm 

    Its amazing that government subsidies for fossil fuels are only about 6x greater than those for renewables, considering that fossil fuels provide more than 90x as much energy as comes from renewables.

  2. J-Gav on Wed, 26th Jun 2013 10:36 pm 

    By 2016? This looks like BS to me. ” … they also have the resources.” Euh, yeh but – not the financial resources!

  3. Kenz300 on Wed, 26th Jun 2013 11:55 pm 

    Quote –“Renewable energy may supply more electricity than nuclear reactors or natural gas by 2016, spurred by declining costs and growing demand in emerging markets, the International Energy Agency said.

    Wind, solar, bioenergy and geothermal use may grow 40 percent in the next five years, double the 20 percent pace in 2011,”
    ———————–

    The transition to safe, clean alternative energy sources keeps growing and growing and growing……

  4. GregT on Thu, 27th Jun 2013 12:22 am 

    The only true ‘renewable’ energy source, is the Sun. The rest all require fossil fuels in their resource extraction, manufacturing, maintenance, and eventual replacement.

    In BillT’s words, nothing but a techie dream.

  5. Harquebus on Thu, 27th Jun 2013 1:48 am 

    Input costs will drive up the cost of producing renewables. It is inevitable. They can not return the total energy used in their manufacture.

  6. DC on Thu, 27th Jun 2013 3:18 am 

    Yes Plant, its amazing that fossil-fools subsides are only 6x that of renewables, because its simply not true.

    From

    http://www.iisd.org/gsi/fossil-fuel-subsidies

    Q/Globally, subsidies to fossil fuels may be on the order of US$ 600 billion per year, of which the GSI estimates about US$ 100 billion is provided to producers. Nobody knows the real number, however, because there is no international framework for regularly monitoring fossil-fuel subsidies.

    It may in fact, be even higher. Some estimates place(direct) FF subsidies are closer to 1 Trillion USD per annum. Clean energy, by contrast, is in the range of 40-60 billion. And just one country along, Germany in 2010 subsidies were about 10 billion dollars. Subsidies that would have no direct, or even indirect impact on Plants fossil-fool lifestyle or his tax bill.

    So even in the best case, FF still receive at very best case, 10x that of renewables, at worst upwards of 20x. Nowhere near the 6x the 1% propaganda rag bloomberg claims. If you factor in all the grandfathered in and indirect subsidies, then fossil-fuels would be subsidized by at least a factor of 50-100x higher than renewables, and even that may be an understatement.

  7. Arthur on Thu, 27th Jun 2013 7:16 am 

    “The only true ‘renewable’ energy source, is the Sun. The rest all require fossil fuels in their resource extraction, manufacturing, maintenance, and eventual replacement.
    In BillT’s words, nothing but a techie dream.”

    A kwh is a kwh, regardless if it comes from the sun, fossil or nukes. I am pleased to see Bloomberg stating the obvious. On the other hand from 4 to 8% in seven years is not nearly enough, although countries like Germany and Denmark probably will be near 100% in 2020. Let’s hope that exponential growth will kick in for a last time.

Leave a Reply

Your email address will not be published. Required fields are marked *