Where renewable electricity is concerned, how costly is ‘too costly’?

Where renewable electricity is concerned, how costly is ‘too costly’?

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Article ID: iaor20125094
Volume: 49
Issue: 21
Start Page Number: 346
End Page Number: 354
Publication Date: Oct 2012
Journal: Energy Policy
Authors:
Keywords: energy
Abstract:

Present day electricity is a bargain. It frees mankind from a host of dirty, debilitating occupations–epitomized by the now endangered occupation of legger. Correctly applied, electricity would make a most excellent paramount energy carrier for a post‐carbon world. It is, however, only an energy carrier and not a source of energy, the preeminent source for its generation being bargain‐priced fossil carbon. But when, in less than a century, that is gone, electricity is a good bet to cost markedly more while being still a bargain. This paper once again shows that mankind's energy needs can be met by (i) renewable solar generation of electricity buffered by (ii) massive electricity storage and (iii) a robust distribution grid. The time available for making this switch from fossil carbon to solar is at best a century and possibly as little as fifty years.

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