I thought with the explosion of electric power and windmills and the electric vehicle boom, fossil fuels would not be required…
Yet, a lot of countries still generate coal and other fossil fuels, is it because there is still filthy amounts of profit there to be made? Maybe they are just so used to it they don’t wanna swap to another resource?
I thought with Solar panels being massively produced, it would sell like hot cakes and you’re literally having the power of the sun in your hand.
Can you show me the numbers?
The numbers I found unsubsidized gas is about USD0.5/kWh and battery is USD150 per kWh. This is a 10 minute search so the quality of those numbers are dubious, I’m prepared to have my mind changed.
Lazard is a pretty respected analyst for energy costs. Here’s their report from June 2024.
In the U.S., peaker gas plants that are only fired up between 5-20% of the time, the levelized cost of electricity (LCOE) is between $110 to $230 per MWh. The levelized cost of storage for utility scale 4-hour storage ranges from $124-$226 per MWh, after subsidies. Before subsidies, that 4-hour storage costs $170-$296.
Residential storage, on the other hand, doesn’t come close. That’s $882 to $1101 before subsidies, or $653 to $855 after subsidies.
So in other words, utility scale storage has dropped down to around the same price as gas peaker plants, in the U.S., after subsidies.