Solar and batteries can power the world
4 hours ago
- #Energy Storage
- #Renewable Energy
- #Solar Power
- Solar and batteries are now cost-effective, enabling most people globally to source most of their electricity from them at savings, with costs projected to decline further.
- By 2030, solar and batteries can supply 90% of electricity for 80% of the world's population at under 80 €/MWh, including backup fuel costs.
- High-latitude northern regions face higher costs due to low winter sunshine, but integrating wind, hydro, or waiting for cost reductions improves feasibility.
- Increasing solar-battery supply to 95-99% is challenging in high latitudes, but projected cost reductions by 2050 will lower costs for most populations.
- Solar and batteries can dominate global electricity supply, offering cheap, clean power close to demand where space allows, with minimal grid costs included.
- Solutions for the final 5-10% backup include short-term fossil fuels, emerging long-duration storage, or e-biofuels as technologies mature.
- Assumptions include utility-scale solar PV at 384 €/kWp and lithium-ion batteries at 157 €/kWh in 2030, dropping to 293 €/kWp and 83 €/kWh by 2050.
- Land use for a 90% solar-battery supply in 2050 requires about 1.4 million km², roughly 1% of global land, but local constraints may necessitate grid expansion.
- Material scarcity for renewables is manageable with substitutions like LFP batteries, sodium-ion alternatives, and reduced silver use in solar panels.
- Warnings include sensitivity to battery costs, seasonal demand mismatches, exclusion of externalities like carbon pricing, and regional variations in capital costs.