Cost of renewable energy will fall further globally

2016 ◽  
Keyword(s):  
Renewable Energy ◽  
Fossil Fuel ◽  
Slow Growth ◽  
Energy Costs ◽  
Solar Photovoltaic ◽  
Content Type ◽  
Energy Growth ◽  
Photovoltaic Power ◽  
Cost Of Energy ◽  
First Choice

Subject Declining costs of renewable energy. Significance Recent auctions and 'levelised cost of energy' (LCOE) studies show that the costs of wind and solar photovoltaic power are now competitive with fossil-fuel power generation in an increasing number of scenarios. Impacts Competitive renewable energy costs will encourage governments to adopt renewables as first-choice technologies. While positive for emissions, higher renewables adoption will slow growth in international fossil fuel trade to the detriment of exporters. Variable renewable energy growth will increase demand for system-balancing technologies, such as interconnectors and electricity storage.

Lower storage costs will drive renewable energy growth

2018 ◽  
Keyword(s):  
Renewable Energy ◽  
Offshore Wind ◽  
Competitive Bidding ◽  
Energy Sources ◽  
Energy Costs ◽  
Solar Thermal Energy ◽  
Content Type ◽  
Energy Growth ◽  
Energy Options ◽  
The Cost

Subject Renewable energy costs. Significance Renewable energy costs continue to fall in both absolute terms and relative to conventional energy sources. Impacts The switch to competitive bidding will see costs peak and then decline for governments that face high subsidy bills from feed-in tariffs. The portfolio of subsidy-free renewable energy options will grow in the next five years to include solar thermal energy and offshore wind. Technology advances will particularly reduce the cost over the next decade of building offshore wind capacity.

scholarly journals Environmental Impact and Levelised Cost of Energy Analysis of Solar Photovoltaic Systems in Selected Asia Pacific Region: A Cradle-to-Grave Approach

2021 ◽  
Vol 13 (1) ◽  
pp. 396
Author(s):  
Norasikin Ahmad Ludin ◽  
Nurfarhana Alyssa Ahmad Affandi ◽  
Kathleen Purvis-Roberts ◽  
Azah Ahmad ◽  
Mohd Adib Ibrahim ◽  
...  
Keyword(s):  
Life Cycle Assessment ◽  
Renewable Energy ◽  
Life Cycle ◽  
Environmental Impact ◽  
Degradation Rate ◽  
Economic Feasibility ◽  
Asia Pacific ◽  
Solar Photovoltaic ◽  
Economic Output ◽  
Cost Of Energy

Sustainability has been greatly impacted by the reality of budgets and available resources as a targeted range of carbon emission reduction greatly increases due to climate change. This study analyses the technical and economic feasibility for three types of solar photovoltaic (PV) renewable energy (RE) systems; (i) solar stand-alone, a non-grid-connected building rooftop-mounted structure, (ii) solar rooftop, a grid-connected building rooftop-mounted structure, (iii) solar farm, a grid-connected land-mounted structure in three tropical climate regions. Technical scientific and economic tools, including life cycle assessment (LCA) and life cycle cost assessment (LCCA) with an integrated framework from a Malaysian case study were applied to similar climatic regions, Thailand, and Indonesia. The short-term, future scaled-up scenario was defined using a proxy technology and estimated data. Environmental locations for this scenario were identified, the environmental impacts were compared, and the techno-economic output were analysed. The scope of this study is cradle-to-grave. Levelised cost of energy (LCOE) was greatly affected due to PV performance degradation rate, especially the critical shading issues for large-scale installations. Despite the land use impact, increased CO2 emissions accumulate over time with regard to energy mix of the country, which requires the need for long-term procurement of both carbon and investment return. With regards to profitably, grid-connected roof-mounted systems achieve the lowest LCOE as compared to other types of installation, ranging from 0.0491 USD/kWh to 0.0605 USD/kWh under a 6% discounted rate. A simple payback (SPB) time between 7–10 years on average depends on annual power generated by the system with estimated energy payback of 0.40–0.55 years for common polycrystalline photovoltaic technology. Thus, maintaining the whole system by ensuring a low degradation rate of 0.2% over a long period of time is essential to generate benefits for both investors and the environment. Emerging technologies are progressing at an exponential rate in order to fill the gap of establishing renewable energy as an attractive business plan. Life cycle assessment is considered an excellent tool to assess the environmental impact of renewable energy.

scholarly journals Solar Power in the Island Nation, Mauritius

2020 ◽  
Vol 190 ◽  
pp. 00007
Author(s):  
Dhirajsing Rughoo
Keyword(s):  
Renewable Energy ◽  
Co2 Emission ◽  
Fossil Fuel ◽  
A Priori ◽  
High Humidity ◽  
Solar Photovoltaic ◽  
Environment Pollution ◽  
Tropical Islands ◽  
High Cloud ◽  
Cloud Coverage

The challenges to integrating a greater share of renewable energy, more specifically solar energy into the power grid in tropical islands are that these islands have a complex microclimate, high humidity and high cloud coverage. Because of this, the power output from solar photovoltaic (SPV) plants is severely affected. In this manuscript, the results of a study carried out on the performance of a 15.2 MW solar photovoltaic (SPV) plant in the island nation Mauritius is presented. The net annual yield was 22 162 MWh and has avoided 22 162 metric t of CO2 emission into the atmosphere. An attempt is also made to develop a model to forecast the power that can be generated from the SPV plants at that location. The grid operator, the national Central Electricity Board (CEB) needs to know a priori, the energy mix for the subsequent few days so that the level of operation of fossil fuel fired thermal plants can be tuned accordingly to minimize the environment pollution of this pristine island.

scholarly journals QUANTIFYING THE UNCERTAINTY OF SOLAR PHOTOVOLTAIC SOFT COSTS IN THE “COST OF RENEWABLE ENERGY SPREADSHEET TOOL” (CREST) MODEL

2020 ◽  
Vol 1 ◽  
pp. 2157-2166
Author(s):  
S. M. Syal ◽  
E. F. MacDonald
Keyword(s):  
Renewable Energy ◽  
Development Process ◽  
Solar Photovoltaic ◽  
Financial Barriers ◽  
Solar Photovoltaics ◽  
Cost Of Energy ◽  
Sensitivity Indices ◽  
Project Costs ◽  
The Cost ◽  
Total Project

AbstractWhile solar photovoltaics are projected to grow, major financial barriers exist that impede installation. Soft costs (human-driven costs) can account for over half of total project costs and are often simplified in typical models. We use the National Renewable Energy Laboratory's “Cost of Renewable Energy Spreadsheet Tool” to quantify uncertainty of three soft cost inputs and their influence on the output cost of energy using variance-based sensitivity indices. We then suggest how the development process and model can be redesigned to represent the complexities of this socio-technical system.

scholarly journals Solar thermal power generation technology research

2019 ◽  
Vol 136 ◽  
pp. 02016
Author(s):  
Yudong Liu ◽  
Fangqin Li ◽  
Jianxing Ren ◽  
Guizhou Ren ◽  
Honghong Shen ◽  
...  
Keyword(s):  
Power Generation ◽  
Renewable Energy ◽  
Renewable Resources ◽  
Solar Power ◽  
Thermal Power ◽  
Solar Photovoltaic ◽  
Photovoltaic Power ◽  
Power Generation Technology ◽  
Generation Technology ◽  
Solar Thermal Power Generation

China is a big consumer of energy resources. With the gradual decrease of non-renewable resources such as oil and coal, it is very important to adopt renewable energy for economic development. As a kind of abundant renewable energy, solar power has been widely used. This paper introduces the development status of solar power generation technology, mainly introduces solar photovoltaic power generation technology, briefly describes the principle of solar photovoltaic power generation, and compares and analyzes four kinds of solar photovoltaic power generation technology, among which photovoltaic power generation technology is the most mature solar photovoltaic power utilization technology at present.

Renewables will expand slowly in Central America

2018 ◽  
Keyword(s):  
Renewable Energy ◽  
Central America ◽  
Geothermal Energy ◽  
Fossil Fuel ◽  
Renewable Energy Sources ◽  
Agricultural Waste ◽  
Content Type ◽  
Investor Confidence ◽  
Cross Border ◽  
Border Trade

Subject Energy diversification. Significance Central America is exploring ways to diversify its power generation, pursuing more sustainable hydropower and geothermal energy and developing other renewable energy sources such as wind, solar, biofuels and agricultural waste. The region’s massive potential to develop renewable energy is increasingly being recognised internationally, but issues with capacity and investor confidence weigh on progress. Impacts Fossil fuel use will continue to grow alongside an increase in renewables. Cross-border trade in renewable energy is likely to develop over the coming years. Costa Rica's image as an ecotourism hub will drive domestic and international enthusiasm for renewables investment there.

scholarly journals Disposal Method of Crystalline Silicon Photovoltaic Panels: A Case Studies in Malaysia

2021 ◽  
Vol 33 (6) ◽  
pp. 1215-1221
Author(s):  
S.M. Ho ◽  
S.N. Ng ◽  
M.A. Munaaim
Keyword(s):  
Renewable Energy ◽  
Power Plants ◽  
Fossil Fuel ◽  
Crystalline Silicon ◽  
Solar Photovoltaic ◽  
Total Energy Consumption ◽  
Photovoltaic Panel ◽  
Photovoltaic Panels ◽  
Carbon Dioxide Gas ◽  
Solar Power Plants

Previous studies have highlighted that fossil fuel accounted for the largest share of total energy consumption in worldwide if compared to renewable energy. However, it has many disadvantages such as emission of carbon dioxide gas, contributes to global warming, creates pollution, contributes to acid rain and unsafe. Nowadays, many solar power plants have been built in order to replace fossil fuel. Solar energy has bright future due to some advantages such as pollution free, cheap renewable energy, easy install solar cell panel and less maintenance. Solar photovoltaic development has remarkably grown since the early 2000s. Because an average panel lifetime is 30 years, 17,000 tonnes of solar panel wastes are anticipated in the year 2030 in Malaysia. As the solar photovoltaic market increases, so will the volume of decommissioned photovoltaic panels. Growing photovoltaic panel waste represents a new environmental challenge, but also miraculous opportunities to create value and pursue new solar photovoltaic end-of-life industries economic route.

China will lead the world in renewable energy

2017 ◽  
Keyword(s):  
Renewable Energy ◽  
Manufacturing Industry ◽  
Fossil Fuel ◽  
International Markets ◽  
Content Type ◽  
Solar Photovoltaics ◽  
The World ◽  
The Government ◽  
Investment Programme ◽  
Energy Equipment

Subject Renewable energy in China. Significance The government has announced a 2.5-trillion-renminbi (363-billion-dollar) investment programme in renewable energy as part of its 13th Five-Year Plan (2016-20). This continues the twin strategies of boosting the share of non-fossil fuel in the energy mix and supporting the growth and internationalisation of China's renewable energy manufacturing industry. Impacts China’s renewable energy capacity will grow, with a switch of emphasis to solar photovoltaics and solar thermal. The country’s manufacturing industry for renewable energy equipment is likely to thrive. There will be further corporate consolidation in the sector. Chinese companies will increase their dominance of the international markets for renewable energy equipment and project development.

Renewable energy growth faces questions in Chile

2016 ◽  
Keyword(s):  
Renewable Energy ◽  
Fossil Fuels ◽  
Commodity Prices ◽  
Rapid Expansion ◽  
Electricity Prices ◽  
Content Type ◽  
Energy Growth ◽  
The Face ◽  
Almost All ◽  
Export Industries

Subject The rapid expansion of renewable energy in Chile. Significance A tender for power purchase agreements (PPAs) with Chile's main distributors, scheduled for late July, will be an important test not only of future electricity prices but also of the ability of the country's non-conventional renewable energy (NCRE) sector to maintain its rapid growth in the face of cheaper conventional fuels. NCREs offer many immediate advantages by way of supply diversification -- in a country that has to import almost all its fossil fuels -- and mitigation of greenhouse gas emissions. Impacts Government studies suggest that, by 2035, NCREs could be producing 40% of Chile's electricity. NCRE projects are boosting competition in Chile's electricity industry, previously dominated by a handful of players. Cheaper electricity is helping to cushion export industries, including mining, against lower commodity prices.

Renewables could aid Egypt's energy hub ambitions

2021 ◽  
Keyword(s):  
Renewable Energy ◽  
Electricity Generation ◽  
Energy Costs ◽  
Power Demand ◽  
Onshore Wind ◽  
Content Type ◽  
Solar Photovoltaics ◽  
Energy Hub ◽  
Generating Capacity ◽  
Gas Supply

Significance This is partly because of growth in gas supply and gas-fired generating capacity, but also owing to increased renewable energy capacity. Decreasing renewable energy costs, which leave onshore wind and solar photovoltaics now the cheapest forms of electricity generation, as well as concerns over climate change, may push Egypt further towards renewables. Impacts Tender activity for renewables may fall or face delays, owing to the level of surplus capacity. The combination of reduced power demand and growing renewables generation should support increased LNG exports. Guaranteed off-take agreements will remain critical to future investment.

Sign in / Sign up

Export Citation Format

Share Document