EnergyTransition.pdf NREM 203
Popular in Decision Making in Natural Resource Management
Popular in Environmental Science
This 2 page Class Notes was uploaded by Cassandra Miller on Friday March 18, 2016. The Class Notes belongs to NREM 203 at Ball State University taught by Megan Sharp in Spring 2016. Since its upload, it has received 13 views. For similar materials see Decision Making in Natural Resource Management in Environmental Science at Ball State University.
Reviews for EnergyTransition.pdf
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 03/18/16
Energy Transition Monday, March 14, 2016 9:13 AM World wide energy consumption increased by a factor of 3 from 1965 to 2011 Currently we consume approximately 12 Mega Tons each year Energy projections of future energy demand Business-as-usual (BAU) Scenario No significant policy changes No dramatic shifts in prices or technology We would increase to 18 Mega Tons Aggressive Climate Change Policy Scenario Greater share of energy consumption would be in non-hydro renewables 5 criteria used to evaluate energy sources Price Gas prices Supply Increasing reliance on marginal oil We have harvested the "easy" oil and now production is more expensive Swing production capacity One country produces more than they need and lowers prices Demand Global consumption 2015: 93.7 million barrels per day 2009: 84.8 million barrels Financial markets Recession Futures - "betting" on price of oil Government policies Taxes vary by state Subsidies No accounting for externalities Fossil fuel subsidies Global subsidies for fossil fuels are able 12 times high than those allocated for renewable energy Externality costs are rarely incorporated in energy sector Removing subsidies and instituting externality taxes could greatly speed that transition to renewables Global subsidies Electricity sector Despite unbalanced application, subsidies are benefiting renewables Lower price of fossil fuel electricity by 1 cent/kwh Lower price of wind by 7 cents/kwh Lower price of concentrated solar by 29 cents/kwh Energy subsidies Directed at fossil fuels Encourage wasteful consumption Increase price volatility Undermine competitiveness of renewables Direct payments or favorable loans: government pays a company a per-unit subsidy for producing particular products Tax credits and deductions: government allows individuals or business to claim tax credits for taking certain actions Price supports: the price that producers receive is guaranteed to be at or able a certain amount Feed-in tariffs: guarantee renewable every producers a certain amount per unit for supplying power to the national grid Mandated Purchase Quotas: law requiring a certain quota of a resource be used Gas must contain a certain percentage of ethanol Governments must buy a certain percentage of their energy from renewable resources Future of Renewables Declining costs will lead to increased use Cost must drop to meet prices of conventional energy sources Cost advantage of fossil fuels over renewables is decreasing. Price of fossil fuels will be difficult to predict, but renewable prices are predicted to decline Renewables are competitive with the fossil fuels
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'