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BloombergNEF forecasts green hydrogen should be cheaper than natural gas by 2050 in some markets; falling costs of solar PV key

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In a new piece of research, BloombergNEF (BNEF) finds that the levelized cost of hydrogen (LCOH 2 ) made from renewable electricity is set to fall faster than it previously estimated. These costs are 13% lower than BNEF’s previous 2030 forecast and 17% lower than its old 2050 forecast.

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EIA expects significant increases in US wholesale electricity prices this summer

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The US Energy Information Administration (EIA) forecasts that prices in US wholesale electricity markets this summer will significantly increase over last summer’s prices. EIA forecasts summer electricity prices will average $98/MWh in California’s CAISO market and $90/MWh in the ERCOT market in Texas.

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Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

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The result will be renewables eating up more and more of the existing market for coal, gas and nuclear. The levelized cost of electricity (LCOE) from new PV plants is forecast to fall a further 71% by 2050, while that for onshore wind drops by a further 58%. Coal emerges as the biggest loser in the long run.

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EIA expects US motor fuel consumption to increase this summer, but remain below 2019 levels

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The US Energy Information Administration (EIA) forecasts an increase in demand for petroleum products during the 2021 summer driving season as the impacts of COVID-19 diminish in the United States. EIA also forecasts the Brent crude oil price will average $64 per barrel this summer, a 78% increase from last summer’s average of $36 per barrel.

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Utility solar dethrones coal as the cheapest power source in Asia

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Photo: China News Service Renewable energy costs in Asia last year were 13% cheaper than coal and are expected to be 32% cheaper by 2030, according to a new study. This is significant because it marks a shift toward making renewables increasingly competitive with coal, a mainstay in APAC’s energy mix. Get started here. –

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Wärtsilä report finds accelerated adoption of renewables can reduce electricity production costs by up to 50%

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Once there is sufficient renewable output, battery storage and thermal balancing power plant capacity in the system, retire legacy inflexible plants, such as coal. coal and gas), significantly reducing the overall levelised cost of electricity.

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BNEF: steel industry set to pivot to hydrogen in green push; additional $278B for clean capacity and retrofits

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Another 45% could come from recycled material, and the rest from a combination of older, coal-fired plants fitted with carbon capture systems and innovative processes using electricity to refine iron ore into iron and steel. Retrofit or close any remaining coal-fired capacity by 2050.

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