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In a ‘monumental shift’, EU coal and gas collapse as wind and solar ascend

Baua Electric

Photo: Hornsea Project Europe’s coal electricity generation tanked by 26% and gas by 15% in 2023, according to a new report from energy think tank Ember. What’s more, for the first time, wind power, which grew by 18%, surpassed gas, which only accounted for 17% of Europe’s electricity. compared to 2022.

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Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

Green Car Congress

BNEF predicts that lithium-ion battery prices, already down by nearly 80% per megawatt-hour since 2010, will continue to tumble as electric vehicle manufacturing builds up through the 2020s. The result will be renewables eating up more and more of the existing market for coal, gas and nuclear. NEO 2018 sees $11.5

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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

Green Car Congress

Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). Higher electricity prices mean that the average US household will pay about the same amount for electricity this summer as last summer.

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Gas prices due to drop in 2024, as EVs plug into cleaner energy

Green Car Reports

Energy Information Administration (EIA) expects combined electricity generation from solar and wind to exceed coal for the first time in 2024. Solar alone is expected to increase 39% from 2023 thanks to continual increases in generating capacity.

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MITEI study finds hydrogen-generated electricity is a cost-competitive candidate for backing up wind and solar

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A team at MITEI (MIT Energy Initiative) has found that hydrogen-generated electricity can be a cost-competitive option for backing up wind and solar. Currently, plants burning fossil fuels, primarily natural gas, fill in the gaps as peaker plants—a tendency that is likely to grow pari passu with VREs.

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BloombergNEF: solar, wind, batteries to attract $10T to 2050; curbing emissions long-term will require other technologies

Green Car Congress

Deep declines in wind, solar and battery technology costs will result in a grid nearly half-powered by the two fast-growing renewable energy sources by 2050, according to the latest projections from BloombergNEF (BNEF). Wind and solar grow from 7% of generation today to 48% by 2050. This will attract $13.3

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Solar to displace natural gas in the daytime + in summer on the Texas grid

Baua Electric

Solar is forecast to displace natural gas in the middle of the day and in the summer on the Texas grid, according to the US Energy Information Administration (EIA). Wind is still the largest source of renewable power in the state, but the installation of new wind turbine capacity slowed in 2023. GWh and increased to 5.1

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