100% Renewable Energy Worldwide Isn’t Just Possible—It’s Also More Cost-Effective

28 Dec 2017   Renewables

Transitioning the world to 100 percent renewable electricity isn’t just some environmentalist pipe dream—it’s “feasible at every hour throughout the year” and is more cost-effective than the current system, which largely relies on fossil fuels and nuclear energy, a new study claims. The research, compiled by Finland’s Lappeenranta University of Technology (LUT) and the Berlin-based nonprofit Energy Watch Group (EWG), was presented Wednesday at the Global Renewable Energy Solutions Showcase , a stand-alone event coinciding with the COP 23 climate talks in Bonn, Germany. The authors said that the existing renewable energy potential and technologies coupled with storage can generate enough energy to meet the global electricity demand by 2050. The researchers estimated that the switch will bring the total levelized cost of electricity on a global average down to €52 ($61) per megawatt-hour (including curtailment, storage and some grid costs) compared to €70 (82) megawatt-hour in 2015. “A […]

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