![]() ![]() In the last five years, fusion energy has reached a turning point in its development. ![]() One example of such limitations: energy shortages in Europe that began in 2019-before Russia’s invasion of Ukraine-that were partly caused by historically low wind speeds lasting for months. But wind and solar have their limitations: they are nondispatchable-that is, they generate electricity when the wind blows or the sun shines, not necessarily when the grid needs it. The continued development of wind and solar technologies and construction techniques is expected to continue, which means that the bulk of new near-term clean-electricity generation will probably come from these two sources. Renewable energy from wind and solar is currently the most cost-efficient form of new zero-carbon electrical generation, and by 2030 it is expected be the lowest-cost of any kind of generation in most markets. For countries to hit their decarbonization goals, it is thus essential that not just existing but also all added generation be zero carbon. ![]() McKinsey’s Global Energy Perspective 2022 projects that power consumption could triple by 2050. For example, as electric vehicles replace internal-combustion vehicles, more electricity generation will be required. In addition, as other industries transition away from fossil fuels, the demand for zero- or low-carbon electricity will increase. Volatility in the energy markets and geopolitical challenges may have complicated the transition to net zero in the short run, but in the longer run, the economics of renewable-power sources will drive likely investment into them. The goal for many power sector players and their regulators is a zero-carbon energy grid. To meet the Paris Agreement’s target of full decarbonization by 2050, many governments and utilities are shifting away from fossil fuels as a primary energy source and turning to renewable-energy technologies. Power generation currently accounts for approximately 30 percent of global CO 2 emissions. What if a technological breakthrough could help the power sector decarbonize-and help prevent the worst effects of climate change? ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |