NewEnergyNews: New Energy Still The Best Buy

NewEnergyNews

Gleanings from the web and the world, condensed for convenience, illustrated for enlightenment, arranged for impact...

The challenge now: To make every day Earth Day.

YESTERDAY

  • FRIDAY WORLD HEADLINE-Global 2022 New Energy Bets to Grow 8% to $2.4 Trillion
  • FRIDAY WORLD HEADLINE-World’s Planned Offshore Wind Doubled in 2021
  • THE DAY BEFORE

    THINGS-TO-THINK-ABOUT WEDNESDAY, June 29:

  • ORIGINAL REPORTING: New York’s Path To The Energy Transition
  • Net Zero Emissions Will Not Come Easy
  • THE DAY BEFORE THE DAY BEFORE

  • Monday Study: Cyber Security For The U.S. Power System
  • THE DAY BEFORE THAT

  • Weekend Video: The Most Under-Appreciated, Overlooked New Energy
  • Weekend Video: Stress On The U.S. Power System
  • Weekend Video: The Ocean’s Unseen Climate Crisis Fight
  • THE LAST DAY UP HERE

  • FRIDAY WORLD HEADLINE-Global New Energy Demand To Meet, Old Energy Subsidies To Beat
  • FRIDAY WORLD HEADLINE-Global Energy Efficiency Push Gains Momentum
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    Founding Editor Herman K. Trabish

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    Some details about NewEnergyNews and the man behind the curtain: Herman K. Trabish, Agua Dulce, CA., Doctor with my hands, Writer with my head, Student of New Energy and Human Experience with my heart

    email: herman@NewEnergyNews.net

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      A tip of the NewEnergyNews cap to Phillip Garcia for crucial assistance in the design implementation of this site. Thanks, Phillip.

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    Pay a visit to the HARRY BOYKOFF page at Basketball Reference, sponsored by NewEnergyNews and Oil In Their Blood.

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  • WEEKEND VIDEOS, July 2-3:
  • Rule Against This, Supreme Court
  • Forget The Supreme Court, The Climate Crisis Fight Continues
  • An Answer To The Energy, Climate, And Geopolitical Crises

    Friday, May 20, 2022

    New Energy Still The Best Buy

    Solar PV, wind costs climbing, but still way cheaper than fossil fuel – report

    Lameez Omarjee 12 May 2022 (FIN 24)

    “Increasing commodity and freight prices are driving up the costs of solar PV and wind turbines, but these renewable energy generators are still more cost-competitive than fossil fuels like coal and gas…[According to the International Energy Agency (IEA) [Renewable Energy Market Update and outlook for 2022 and 2023,] prices of raw materials and freight costs have been rising since the start of 2021. By March 2022, the steel price increased by 50%, copper increased by 70% and aluminium doubled. Freight costs were five times higher than they were in 2021.

    This means that the prices of wind turbines and solar PV modules or panels have had to increase - reversing the previous trend of declining prices…[Solar PV and wind prices are expected] to remain higher than pre-pandemic levels in 2022 and 2023…Rising freight costs are the main driver of higher wind prices, while solar PV increases are evenly split between freight and raw material costs…[But] higher prices of fossil fuels - natural gas, oil and coal - used in industrial processes and electricity supply to produce components in renewable energy technologies also drive costs…[and] renewable energy prices remain cost-competitive, as fossil fuel prices have risen at a much faster pace…

    …[Also,] residential and commercial users of solar PV have managed to reduce their electricity bills…[Renewable energy capacity is expected] to increase by 8% in 2022 and reach almost 320 GW. Solar PV is projected to be the front-running technology, accounting for 60% of global renewable capacity…The outlook for renewable energy deployment in 2023 depends heavily on the policy environment…[Russia's invasion of Ukraine] sparked a new urgency among some countries - especially the EU - to secure energy by transitioning clean generation while reducing dependence on fossil fuels from Russia…” click here for more

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