Fossil fuels ‘becoming obsolete’ as solar panel prices plummet
The cost of solar power has dropped by nearly 90 per cent over the last decade, according to new research, taking it towards a key level that will make fossil fuel-generated power no longer economically viable. Calculations by Berlin-based Mercator Research Institute on Global Commons and Climate Change (MCC) found that the plummeting price of electricity produced by solar panels – down 87 per cent since 2013 – means the transition to renewable energy sources is “cheaper than expected”. The falling costs of batteries and other renewable technologies could also help supercharge the trend towards cleaner energy and meeting climate targets. “Some calculations even suggest that the world’s entire energy consumption in 2050 could be completely and cost-effectively covered by solar technology and other renewables,” said Felix Creutzig, who led the research. “This is an extremely optimistic scenario – but it illustrates that the future is open. Climate science, which provides policymakers with guidance in its scenario models, must reflect technical progress as closely as possible.” The publication of the research follows recent analysis that showed the cost of batteries fell by nearly 10 per cent last month. Energy analytics firm Benchmark Mineral Intelligence said the drop below $100/ kilowatthour (kWh) in August took batteries past a “tipping point” that puts electric vehicles (EVs) on a price parity with fossil fuel-burning vehicles. As well as accelerating the transition to EVs, the fall in battery prices is also a big boost for renewable energy technologies like solar and wind installations, as they use batteries to store excess energy during periods of overproduction. The falling costs for renewable technologies has been attributed to scientific breakthroughs that make them more efficient, as well as decreasing raw material costs. “Greenhouse gas emissions are higher than ever and the measures taken so far are too weak, but in this politically difficult situation, technological progress provides a ray of hope,” said Jan Minx, head of the MCC Applied Sustainability Science working group and one of the leaders of the latest research. “New scenario models, some of which are starting to be explored, are likely to demonstrate in the foreseeable future that the global climate transition might not be as expensive as previously assumed, and may even be cost saving – provided it is finally tackled.” The research was detailed in a study, titled ‘Technological innovation enables low cost climate change mitigation‘, which was published in the journal Energy Research and Social Science. Read More Hundreds of years after it was discovered, one material is about to change the world Solar panel breakthrough could supercharge ‘miracle material’ production Scientists invent solar panels that work in a snow blizzard New discovery is ‘holy grail’ breakthrough in search for aliens, scientist say
2023-09-26 16:25
River Danube: Ukrainian captain jailed after fatal river tour boat crash
Twenty-five South Korean tourists died after a boat sank during a rainstorm on the River Danube.
2023-09-26 16:20
Arsenal line up ‘£60m move for Ivan Toney’
What the papers say Arsenal are gearing up to grab Ivan Toney, with the Daily Mirror reporting Brentford have valued the 27-year-old at £60m ahead of a likely move for him in the January transfer window. Jadon Sancho has been urged by players at Manchester United to end his dispute with manager Erik ten Hag, according to the Daily Mirror. The Times reports that the PFA has offered to help the England winger, 23, settle his differences with ten Hag. Jesse Lingard has ended his one-month training stint at West Ham to move to Saudi Arabia, with the Daily Mirror reporting club manager David Moyes insisting the club is comfortable with Lingard’s decision. The Daily Telegraph reports that Chelsea secretly parted ways with Bruno, who arrived at Stamford Bridge under former manager Graham Potter’s watch and was a first-team coach under Mauricio Pochettino. Social media round-up Players to watch Romelu Lukaku: Roma are keen to turn the 30-year-old striker’s loan from Chelsea into a permanent move. Mohamed Salah: Negotiations between Liverpool, Saudi Arabia and the striker’s agent are becoming the subject of a Harvard study. Read More Erik ten Hag insists Manchester United players are fighting together to improve form From Paul Pogba to Angel Di Maria – Manchester United’s recent flops Jadon Sancho set for cut-price Manchester United exit
2023-09-26 15:58
'The Voice' Season 24: Where is Jarred Billups now? Gwen Stefani reveals wanting to work with music teacher after rejection
'The Voice' Season 24 singer Jarred Billups did not get any chair turn
2023-09-26 15:54
China, Japan, South Korea to hold meeting of leaders at a time convenient for all
BEIJING China, Japan and South Korea agreed on Tuesday to hold a summit among their leaders at a
2023-09-26 15:50
Faramarz Javidzad: Iran denies medical negligence over prisoner's death
Iranian authorities rejects claims that Faramarz Javidzad's death was due to a lack of medical care.
2023-09-26 15:46
'It was a beautiful moment!' NSYNC's 'tears of joy' at reuniting in the studio
NSYNC star Lance Bass has told how there were lots of "tears of joy" when the group reunited in the studio, and the singer had "no idea" the band's fans would "go this nuts" for their comeback.
2023-09-26 15:28
Martin Scorsese calls for Christopher Nolan and others to 'save cinema' from comic book movies
Legendary filmmaker Martin Scorsese believes directors such as Christopher Nolan and the Safdie brothers need to "save cinema" from a comic book and franchise culture, which he believes is a "danger" to our "culture".
2023-09-26 15:26
Star Trek 4 writer insists long awaited movie is 'still on the tracks'
'Star Trek 4' writer Lindsey Anderson Beer has insisted the movie is "still on the tracks" seven years after the release of 'Star Trek: Beyond'.
2023-09-26 15:25
Amazon steps up AI race with up to $4 billion deal to invest in Anthropic
By Jeffrey Dastin SAN FRANCISCO Amazon.com on Monday said it will invest up to $4 billion in cash
2023-09-26 15:25
Nagorno-Karabakh: Fuel depot blast kills 20 as refugee count doubles
Officials say 290 people have been taken to hospital with dozens in a critical condition.
2023-09-26 15:23
Italy in markets' crosshairs as Meloni readies difficult budget
By Gavin Jones and Valentina Za ROME (Reuters) -Italy is under growing market scrutiny as Prime Minister Giorgia Meloni prepares
2023-09-26 15:22
