Renewable Electricity: Insights for the Coming Decade
A sophisticated set of renewable electricity (RE) generation technologies is now commercially available. Globally, RE captured approximately half of all capacity additions since 2011. The cost of RE is already competitive with fossil fuels in some areas around the world, and prices are anticipated to continue to decline over the next decade. RE options, led by wind and solar, are part of a suite of technologies and business solutions that are transforming electricity sectors around the world. Renewable deployment is expected to continue due to: increasingly competitive economics; favorable environmental characteristics such as low water use, and minimal local air pollution and greenhouse gas (GHG) emissions; complementary risk profiles when paired with natural gas generators; strong support from stakeholders. Despite this positive outlook for renewables, the collapse in global oil prices since mid-2014 and continued growth in natural gas supply in the United States--due to the development of low-cost shale gas--raise questions about the potential impacts of fossil fuel prices on RE. Today, oil plays a very minor role in the electricity sectors of most countries, so direct impacts on RE are likely to be minimal (except where natural gas prices are indexed on oil). Natural gas and RE generatingmore »
- Publication Date:
- OSTI Identifier:
- Report Number(s):
- DOE Contract Number:
- Resource Type:
- Technical Report
- Research Org:
- National Renewable Energy Laboratory (NREL), Golden, CO.
- Sponsoring Org:
- Joint Institute for Strategic Energy Analysis (JISEA)
- Country of Publication:
- United States
- 54 ENVIRONMENTAL SCIENCES; 24 POWER TRANSMISSION AND DISTRIBUTION; 14 SOLAR ENERGY; 17 WIND ENERGY RENEWABLE ELECTRICITY; FUTURES; RE GENERATION; SOLAR POWER; WIND POWER; CSP; PV; RENEWABLE ENERGY TECHNOLOGY; LCOE; CHINA RENEWABLE ENERGY
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