This week saw more exciting news on the rapidly falling price of renewables, which will continue to become cheaper over the coming years, according to a report from the International Energy Agency.
Global prices per Megawatt hour have already halved for solar power in the last four years, and the IEA expects them to halve again in the next three years, to be less than $30 per MWh. This is cheaper than any fossil fuel energy source, meaning we can expect a massive surge in investment in green energy generation and a decarbonisation of our energy supply as companies realise green energy is also cheap energy.
It’s not just solar costs that are plummeting. Wind energy is getting far cheaper too, and a report published recently shows it has the capacity to power the entire world. If just 2% of global wind energy was captured, it could provide enough power to satisfy their entire world’s energy requirements.
Clearly we’re not going to power the entire world from wind, other renewables have their part to pay, but it does show the scope of the technology and the lack of limits on its adoption.
Renewable energy is coming on in leaps and bounds, but we need other technologies to totally de-carbonise our economy. Electric cars have got rapidly better over the past few years, but road haulage has remained completely reliant on diesel-powered trucks which emit large amounts of CO2.
But this could be able to change.
This week Daimler, the German vehicle maker, announced its concept heavy-duty electric truck. Called the E-fuso vision one, Daimler say it’s capable of travelling 217 miles on a single charge whilst hauling 11 tonnes.
HGVs account for twenty percent of the CO2 emissions created by road transport, so transferring to electric trucks could take a large chunk out of transport emissions.