Seven Reasons Cheap Oil Can't Stop Renewables Now

Tom Randall for Bloomberg:  Oil prices have fallen by more than half since July. Just five years ago, such a plunge in fossil fuels would have put the renewable-energy industry on bankruptcy watch. Today: Meh.

Here are seven reasons why humanity’s transition to cleaner energy won’t be sidetracked by cheap oil.
 
1. The Sun Doesn't Compete With Oil
Oil is for cars; renewables are for electricity. The two don’t really compete. Oil is just too expensive to power the grid, even with prices well below $50 a barrel.
 
Instead, solar competes with coal, natural gas, hydro, and nuclear power. Solar, the newest to the mix, makes up less than 1 percent of the electricity market today but will be the world’s biggest single source by 2050, according to the International Energy Agency. Demand is so strong that the biggest limit to installations this year may be the availability of panels.   Cont'd...

 

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

POWER MAX™ Ballasted Roof Mounting System

POWER MAX™ Ballasted Roof Mounting System

Preformed Line Products introduces the POWER MAX Ballasted Roof Mounting System. The POWER MAX solar mounting system is engineered to maximize energy output on commercial flat roofs. Developed with the professional installer in mind, this system offers adjustable inter-row spacing in the field of up to 11 inches. It features 50% fewer components and a simplified design resulting in faster assembly rates and labor savings on every project. Available in a flush mount, 5˚ or 10˚ tilt or higher density dual tilt design, the POWER MAX base arrives stacked on pallets providing easier transport to the roof. Engineered as a fully ballasted, non-penetrating system, it accepts standard concrete blocks and is qualified by wind tunnel testing.