A recent study dispelled the idea that a complete energy transition is not possible in the short term. In fact, not only has it been proven feasible by 2050, but experts have found it to be more cost effective than the current system.“The energy transition is no longer a question of technical or economic viability, but of political will”, support the promoters of this work.
Conducted by Lappeenranta University of Technology and the Energy Watch Group (EWG), the study ‘Global energy system based on 100% renewable energy – Energy sector‘ confirms that, compared to nuclear power and fossil fuels that dominate the electricity generation landscape today, a renewable energy-based system would reduce the leveled cost of electricity (LCOE). Thus, for a 2050 marked by clean energy, it would be on average 52 euros per MWh. In 2015, the LCOE was 70 euros per MWh.
“There is no reason to invest a dollar more in nuclear or fossil energy production“, Ensure the president of the EWG, Hans-Josef has fallen. With the data provided by this work, it also demands that all expansion plans for coal, nuclear power, gas and oil cease. “More investment must be directed towards renewable energies and the necessary infrastructure for storage and networks. Everything else leads to unnecessary costs and increased global warming “.
Faced with this context, a completely different one would emerge with the transition to renewable energies which, according to the study, would reduce the sector’s emissions to zero, against 11 GT CO2 eq in 2015. The revival of employment in the field of energy Energy, from the current 19 million to the 36 million expected in 2050, would be another of the assets of the implementation of a transition that will have the sun as the protagonist.
It will be the energy of the future.
According to the findings of the same study, the expected drop in the costs of photovoltaic technology and storage batteries would place them at the epicenter of the clean electricity system of the future. So, solar photovoltaic would provide 69% of energy. From a distance, wind power would follow, with 18% of the total and, in turn, well ahead of the next energy source, hydropower, with 8%. The international energy mix for 2050 would be closed by bioenergy, with 2% of the total.
In this scheme, storage is also essential. In this area, the study underlines that the stored energy will cover 31% of total demand by 2050. Of this percentage, 95% will come solely from batteries.
The study, which also reveals that a system based 100% on renewable energies would significantly reduce energy losses, was presented at the Global showcase of renewable energy solutions. The event was organized on the occasion of the COP23 climate conference held in Bonn and, with this data, it should have “Important implications” for decision makers around the world.