I am back from the Panama trip and catching up on my work. Part of that of course is reading a great deal and this article puts a very positive spin on solar energy. In the ten year study that I produced for our members solar was to reach somewhere near 130 million ounces of silver use by 2015 or so. Right now we are about half that level and some projects have cut back--especially in Germany which was a leader, but as we reported the German Government decided to cut back subsidizing solar. In the meantime we are getting mixed message from India that has purportedly mandated their government building to go solar. Further one of the largest solar facilities in the world is planned to be built in India. We do our best to remain objective. Solar is certainly here to stay, are we seeing a lull before a big growth spurt? We remain cautious, even though the article below is very favorable, time will tell. Editor
PS: We are planning on having a webinar as a bonus for our current paid members some time within the next month.
Global solar dominance in sight as science trumps fossil fuels
Solar power will slowly squeeze the revenues of petro-rentier regimes in Russia, Venezuela and Saudi Arabia. They will have to find a new business model, or fade into decline By Ambrose Evans-Pritchard 5:58PM BST 09 Apr 2014
Solar power has won the global argument. Photovoltaic energy is already so cheap that it competes with oil, diesel and liquefied natural gas in much of Asia without subsidies.
Roughly 29pc of electricity capacity added in America last year came from solar, rising to 100pc even in Massachusetts and Vermont. "More solar has been installed in the US in the past 18 months than in 30 years," says the US Solar Energy Industries Association (SEIA). California's subsidy pot is drying up but new solar has hardly missed a beat.
The technology is improving so fast - helped by the US military - that it has achieved a virtous circle. Michael Parker and Flora Chang, at Sanford Bernstein, say we entering a new order of "global energy deflation" that must ineluctably erode the viability of oil, gas and the fossil fuel nexus over time. In the 1980s solar development was stopped in its tracks by the slump in oil prices. By now it has surely crossed the threshold irreversibly.
The ratchet effect of energy deflation may be imperceptible at first since solar makes up just 0.17pc of the world's $5 trillion energy market, or 3pc of its electricity. The trend does not preclude cyclical oil booms along the way. Nor does it obviate the need for shale fracking as a stop-gap, for national security reasons or in Britain's case to curb a shocking current account deficit of 5.4pc of GDP.
But the technology momentum goes only one way. "Eventually solar will become so large that there will be consequences everywhere," they said. This remarkable overthrow of everthing we take for granted in world energy politics may occur within "the better part of a decade".
----Clean Energy Trends says new solar installations overtook wind turbines worldwide last year with an extra 36.5GW. China alone accounted for a third. Wind is still ahead with 2.5 times old capacity but the "solar sorpasso" will be reached in 2021 as photovoltaic (PV) costs keep falling.
The US National Renewable Energy Laboratory says scientists can now capture 31.1pc of the sun's energy with a 111-V Solar Cell, a world record but soon to be beaten again no doubt. This will find its way briskly into routine use.
----It is hard to keep up with the cascade of research papers emerging from brain-trusts in North America, Europe and Japan, so many brimming with optimism. The University of Buffalo has developed a nanoscale microchip able to capture a "rainbow" of wavelengths and absorb far more light. A team at Oxford is pioneering use of perovskite, an abundant material that is cheaper than silicon and produces 40pc more voltage.
One by one, the seemingly intractable obstacles are being conquered. Israel's Ecoppia has just begun using robots to clean the panels of its Ketura Sun park in the Negev desert without the use of water, until now a big constraint. It is beautifully simple. Soft microfibers sweep away 99pc of the dust each night with the help of airflows.
Professor Michael Aziz, at Harvard University, is developing a flow-battery with funding from the US Advanced Research Projects Agency over the next three years that promises to cut the cost of energy storage by two-thirds below the latest vanadium batteries used in Japan.
----Deutsche Bank say there are already 19 regional markets around the world that have achieved "grid parity", meaning that PV solar panels can match or undercut local electricity prices without subsidy: California, Chile, Australia, Turkey, Israel, Germany, Japan, Italy, Spain and Greece, for residential power, as well as Mexico and China for industrial power.
This will spread as battery storage costs - often a spin-off from electric car ventures - keep dropping. Sanford Bernstein says it may not be long before home energy storage is cheap enough to lure households away from the grid en masse across the world.
Poster Comment:
We are living in exciting times. ;)