Tuesday, May 31, 2016

Canadian Broadcasting Corp reports - Canada's "energy superpower" status threatened by renewables

The CBC on May 30 reports a draft study from Policy Horizons (Canada), a government think tank, from March 2016 that notes the energy transition from fossil fuels to renewables is going to happen faster than expected, and suggests that the "leave it in the ground" movement is, well, very realistic.

Among other big concepts in the report draft -- many components of the renewable energy ecosystem are declining in cost faster than predicted due to technological advances, accelerated economies of scale and the "learning curve".  Renewables are becoming cheaper than fossil fuels.  Inclusion of externalities in the cost of fossil fuels will only increase this differential.  Electricity storage solutions are becoming available and commercially viable faster than expected. Transportation may electrify faster than expected.  And yes, renewables enhance "national energy security, productivity and economic stability."  The report suggests caution about public-supported investment in fossil fuel-related infrastructure, since such investments could quickly prove stranded, and in such case the taxpayers should not be left to pay the bill.

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