Solar Energy / Wind Energy / Energy Storage – How Cheap?Posted: December 18, 2015
It’s now fairly common knowledge that the cost of solar modules is dropping exponentially. I helped publicize that fact in a 2011 Scientific American blog post asking “Does Moore’s Law Apply to Solar Cells?” The answer is that something like Moore’s law, an exponential learning curve (albeit slower than in computing) applies. (For those that think Moore’s Law is a terrible analogy, here’s my post on why Moore’s Law is an excellent analogy for solar.)
NREL recently released data showing that next-generation wind turbines could reach an incredible capacity factor of 60% over 2 million square kilometers of the US, or enough to provide roughly 10x as much electricity as the US uses. If true, this would be a game-changer in wind power, as I explain below.
Bill Gates recently told The Atlantic that “we need an energy miracle”. The same article quotes him as saying that storage costs roughly an order of magnitude too much. How quickly will the cost of storage drop? I attempt to answer that question here.
tl;dr: Predictions of the future are fraught with peril. That said, if the current trajectory of energy storage prices holds, within a decade or two mass energy storage of a significant fraction of civilization’s needs will be economically viable.