Hydrogen is emerging as one of the most important sources in “upscaling” energy, increasing both the share of renewable energy supply and the scope of decarbonization. One driving factor is that hydrogen provides easy and effective storage and transportation options. Perhaps the biggest challenge that remains is hydrogen’s cost effectiveness, which is what we look at more closely today.
Do you remember headlines predicting the imminent end of fossil fuels?
Years later, the end of fossil fuels is still being predicted. We are half way through 2020 and there is still no end in sight for fossil fuels. Without question, fossil fuels are finite, but why are accurate forecasts so hard to come by? And what does this mean for renewable energy?
One big challenge for the renewable energy sector today is the traceability or identification of the generating asset power stream.
Over the past decade, costs trends within the renewable energy sector have been dramatically decreasing, making wind (as discussed in our post “Wind Energy LCOE Breakdown”) and solar two of the most competitive energy sources.
Our earlier post, “LCOE’s to compare energy investments”, focused on levelized costs of energy. This post will more closely examine LCOE’s for wind energy. In doing so, we will seek to understand the calculations and their unique charateristics, and explore the differences between offshore and onshore projects. Finally, we will present an overview of some selected countries and their respective LCOE’s.