How oil, gas and renewables ended up as mortal enemies beats me.
In the energy debate we spend far too much time trying to tear down stuff and put up false choices.
Clean energy today accounts for 40% of electricity demand.
Solar and wind have a combined 15% market share. Hydro 14%. And Nuclear 9%.
Electricity demand is growing rapidly, and almost all of the growth is now met by renewables.
This is good news.
At the same time, gas will continue to play a critical role in the electricity sector.
And let’s not forget. The singel biggest source of electricity generation isn’t solar, wind, hydro or even gas. It’s coal, generating around a third of all electricity globally.
If you want to generate electrons, solar is by far the cheapest way to do it.
But we need power systems that are reliable all year round, and can serve as strong foundations for our industrial and security strategies. Which means we will need a mix of technologies.
Then there’s another thing.
Electricity, important as it is, only accounts for around 1/5 of all energy use worldwide today.
If we look at primary energy demand, fossil fuels still cover 80%. That’s a share that’s moving very slowly.
There’s no meaningful planning horizon in which we won’t need the oil and gas industry.
And there are no rich countries who are energy poor.
Yet the debate rages on.
Some like oil and gas. Other renewables. If neither suit you, you can always become a true believer in nuclear, unless you’re busy waiting for fusion power.
Each to their own silver bullet.
Whatever happened to a balanced approach?
Artwork: Power Play
