Reed Landberg19 June 2018, 10:00 pm AEST
Coal will be increasingly squeezed out of the power generation market over the next three decades as the cost of renewables plunges and technology improves the flexibility of grids globally.
That’s the conclusion of a report by Bloomberg New Energy Finance, which estimated some $11.5 trillion of investment will go into electricity generation between now and 2050.
Of that, 85 percent, or $9.8 trillion, will go into wind, solar and other zero-emissions technologies such as hydro and nuclear, the London-based researcher said.
Better batteries, which allow grid managers to store power for times when it’s neither breezy nor sunny, will allow utilities to take advantage of plunging costs for solar panels and wind turbines.
The ability of natural gas plants to work at a few minutes notice means the fuel will become the choice for most utilities wanting guaranteed generation capacity.
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