Tag Archives: 2050

Magnificent Minnesota: Study Says 70% Renewables By 2050 Within Reach

By Frank Andorka, Senior Correspondent

Most solar observers who look at the Midwest and identify what state leads that group of states almost inevitably settle on Minnesota as the far-and-away leader.

(Here’s the obligatory note suggesting that Illinois is hot on Minnesota’s tail and that it had better keep moving forward if it wants to remain the name on everyone’s lips when it comes to a Midwestern solar leader).

But the Land of 10,000 Lakes (which is actually closer to 15,000, but who’s counting?) is well known for its progressive solar policy, particularly when it comes to community solar, where its reputation doesn’t just make it stand out in the Midwest but in the entire country.

And it benefits too from having a utility that, after long and involved battles, decided to join the Solar Revolution instead of fighting it. Xcel is now not only on board with solar development but in some cases is leading the charge (though it still isn’t an enthusiastic supporter of rooftop solar, preferring instead the utility-scale and community solar farms that it has control over).

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Now there’s even strong support for the expansion of solar power and other forms of renewable energy in the state as the latest study for the state’s Department of Commerce suggests that the state could get up to 70% of its electricity by 2050 without destroying the state’s economy.

The Minneapolis Star Tribune has the details:

The deployment of more solar and wind generation would be no more costly than new natural gas power, a cheap source of electricity, according to the study done for the state Department of Commerce. Enough solar generation could be added cost-effectively by 2030 to meet Minnesota’s ambitious solar-power goals.

So that’s great news for solar advocates in the state, some of whom have been pushing for a much more aggressive renewable portfolio standard for the past couple of years. Could this latest study add fuel to that fire and get it passed? Could Minnesota boldly join states like California and Hawaii and go all-in on 100% renewables?

OK, maybe that last is a pipe dream for now, but the new study should buoy hope that Minnesota can stay on the Midwest’s leading edge when it comes to solar development, at least for the foreseable future.

More:

Study says Minnesota can economically reach renewable energy goals by 2050

Report: Renewable Sources Will Power 80% Of Electricity Generation By 2050

By Frank Andorka, Senior Correspondent

According to the latest DNV-GL Energy Transition Outlook 2018: Power Supply and Use report, renewable energy will power approximately 80% of electricity generation by 2050, with the majority of that surge coming from wind and solar.

As prices for the technology continue to drop, DNV0-GL is predicting that 40% of all electricity generation will come from solar sources, while 29% will come from wind.

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What’s more, the report suggests rapid electrification will continue to become a higher percentage of energy use, reaching 45% by 2050, with particular increases occurring in the transportation, building and manufacturing sectors of the economy. It also forecasts that 50% of all new vehicles sold in Europe within the next decade will be electric vehicles (EVs), significantly increasing the need for electricity production. When you dovetail the two predictions, you can see that solar and wind production increases will shape the economic future of not just Europe but the rest of the world as well.

What that will necessitate – no matter how much free market mavens don’t want to hear this – is greater regulation. Higher use of solar and wind is going to force governments to shift how their populations use electricity through using market mechanisms and changes to the electricity market fundamentals. And governments are going to have to intervene. In parallel, market-based price signals are essential to foster innovation and develop economically efficient flexibility options.

You might think the expansion of high-capital-cost renewables and electricity networks would drive prices up, but DMV-GL predicts the exact opposite. For example, the report suggests the total cost of energy expenditure, as a share of global GDP, will fall from 5.5% to 3.1%, a drop by 44%. Absolute energy expenditure will still grow by 30% over the forecast period, to 6 Tn$/yr. DNV GL foresees a shift in costs, from operational expenditure, principally fuel, to capital expenditure. From 2030, more capital expenditures will go into electricity grids and wind and solar than into fossil-fuel projects.