“The Sun has won”: exponentially growing solar destroys nuclear, fossil fuels on price
It’s not known if Peter Dutton reads The Economist but if he does, he must probably think from time to time that it is sometimes dangerously left wing.
In the 22 June issue, it had a special essay on solar power – headlined ‘The Sun Machine’. The sub-head was “An energy source which gets cheaper the more you use it marks a turning-point in industrial history’.
The essay is a total contradiction of almost everything Dutton is claiming about nuclear and renewable energy.
“What makes solar energy revolutionary is the rate of growth which brought it to this just-beyond the marginal state”, the essay says.
They cite a veteran energy analyst, Michael Liebreich, who shows that in 2004 it took a year to install a gigawatt of solar power capacity; in 2010 it took a month; in 2016 a week; and in single days in 2023 there were a gigawatt of installation worldwide.
Current projections are that solar will generate more electricity than all the world’s nuclear plants in 2026; than wind turbines in 2027; dams in 2028; gas-fired plants in 2026; and coal-fired ones in 2032.
All that well before Dutton’s nuclear plants – if at all – start generating power. Moreover, unlike nuclear power which notoriously always takes longer to build than predicted, predictions about the rate of solar power roll-out are consistently under-estimates.
The Economist points out that in in 2009 The International Energy Agency (IEA)........
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