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Climate change has to main components, temperature and CO2, which are related by the relationship burning fossil fuels creates CO2 which increases the world's a
by entropicgravity 3y ago
Climate change has to main components, temperature and CO2, which are related by the relationship burning fossil fuels creates CO2 which increases the world's average temperature. This much has been known for over one hundred years.
Over the past five years though the situation has radically changed in the financial sense. That is, the cost of wind and solar energy (and HVDC transmission) has dropped precipitously and in response the amount new installations has been going by 30 to 50 percent a year.
Most large projects are now being bid at between one and two cents a kilowatt hour! To clarify, that means that the company that bids on these projects commit to selling the power produced at a rate of 1 to 2 cents a kWh, for solar, for TWENTY YEARS. And it's about 4 to 5 cents per kWh for new wind projects. And the winning bidder expects to make a profit at these rates.
Today the consumer is paying between 10 to 50 cents per kWh depending on country etc. The stunning consequence of this is that green power is already way cheaper than power produced by fossil fuels, and it's only going to get better. In fact it's so cheap that in some jurisdictions it's cheaper to mothball a perfectly fine coal burning generator and switch over the green energy. This is already happening.
In essence then the war on climate change has already been won for all intents and purposes. Even five years ago this was not the case. There is still the tricky problem of being able to deploy enough green energy quickly enough to squeeze through the eye of the climate needle. But it's now longer how but when. Sometimes technology can run you over from the back while you're looking ahead.