LINKS OF THE WEEK: Feb 12, 2024
Interesting stats on EVs and energy use in the US, developments in wind and tidal power, a plastic recycling microfactory, and an "unprecedented collapse" in EU fossil fuel generation.
Solar and wind are now cheaper than fossil fuels. But to use that power efficiently, we need more cost-effective energy storage solutions.
It happened so much faster than most experts expected.
Thanks to rapid advances in technology over the past decade, renewable energy (in the form of wind and solar) is now the cheapest source of energy in the world. So much so that economists predict that making the switch from fossil fuels to renewables could save the world trillions of dollars.
In Europe, renewable energy almost doubled from 2011 to 2021 and now makes up 32% of electricity generation in the EU, compared to fossil fuels at 36% (and in some ways, it seems like we weirdly have Russia to thank for that as the war in Ukraine accelerated the adoption of renewables when EU nations were forced to wean themselves off Russian oil and gas).
In the US, it has become more affordable to replace coal plants with wind and solar than to keep those coal plants running. And in other parts of the world that are in the process of building up their energy infrastructure, starting from scratch with wind and solar is much more cost efficient than opting for coal or gas.
BUT: despite their relative cheapness, wind and solar still present some big challenges – especially when it comes to storing and transporting the energy they generate.
That’s because wind and solar have an intermittency problem: the sun doesn’t shine and the wind doesn’t blow 24 hours a day. We need a way to capture and store the energy for later use if we want a renewable energy system to be consistently reliable.
(Not to mention a robust grid network that allows energy producers to share power with other users. Case in point: the Czech Republic had to shut down its solar plants over Easter weekend because the weather was SO sunny that the power generated was too much for the country’s grid to handle.)
That’s where energy storage comes in… It’s the “missing link” that allows us to hold onto the energy created until it needs to be used or transported for use somewhere else.
When most people think “energy storage,” a battery is usually the first thing that comes to mind. (And WOW, has there ever been a ton of articles on research into making batteries cheaper, more efficient, and more environmentally sustainable!)
But when it comes to storing energy being produced by solar or wind farms – or even industrial manufacturing plants or giant server farms that generate a lot of excess heat energy through their normal processes – scientists and engineers are coming up with a number of energy storage solutions that seem to hold a lot of promise.
Here are just a few exciting technologies people have been talking about lately...
Those are just a few of the stories that have shown up this spring.
Who knows which or any of these technologies will become commercially viable in the next few decades and if any will emerge to be the dominant form of long-term energy storage – OR if we’ll see a range of different options come available that are tailored to a region’s specific energy generation and storage needs.
No matter how it all unfolds, energy storage will play a key role in helping us move away from fossil fuels and accelerate our transition to a zero-carbon future.
And that makes it as sexy as hell. 🔥🤤