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Sunday, January 6, 2008
Scientific American article envisions solar energy powering US by 2050
Conscious Readers,
My feeling is that a widely decentralized, multi-sourced energy supply is key to both security and sustainability, but I also think that these visions of massive use of a single renewable power source are useful to show how much potential is out there. Another developing trend is this move to direct current from alternating current, as DC is part of this proposal to cover much of the southwest USA desert lands with solar photovoltaic and solar thermal generators.
Peace and Blessings,
Yuya Joe
Article from: Scientific American Magazine
* A massive switch from coal, oil, natural gas and nuclear power plants to solar power plants could supply 69 percent of the U.S.’s electricity and 35 percent of its total energy by 2050.
* A vast area of photovoltaic cells would have to be erected in the Southwest. Excess daytime energy would be stored as compressed air in underground caverns to be tapped during nighttime hours.
* Large solar concentrator power plants would be built as well.
* A new direct-current power transmission backbone would deliver solar electricity across the country.
* But $420 billion in subsidies from 2011 to 2050 would be required to fund the infrastructure and make it cost-competitive.
—The Editors
High prices for gasoline and home heating oil are here to stay. The U.S. is at war in the Middle East at least in part to protect its foreign oil interests. And as China, India and other nations rapidly increase their demand for fossil fuels, future fighting over energy looms large. In the meantime, power plants that burn coal, oil and natural gas, as well as vehicles everywhere, continue to pour millions of tons of pollutants and greenhouse gases into the atmosphere annually, threatening the planet.
Well-meaning scientists, engineers, economists and politicians have proposed various steps that could slightly reduce fossil-fuel use and emissions. These steps are not enough. The U.S. needs a bold plan to free itself from fossil fuels. Our analysis convinces us that a massive switch to solar power is the logical answer.
Solar energy’s potential is off the chart. The energy in sunlight striking the earth for 40 minutes is equivalent to global energy consumption for a year. The U.S. is lucky to be endowed with a vast resource; at least 250,000 square miles of land in the Southwest alone are suitable for constructing solar power plants, and that land receives more than 4,500 quadrillion British thermal units (Btu) of solar radiation a year. Converting only 2.5 percent of that radiation into electricity would match the nation’s total energy consumption in 2006.
To convert the country to solar power, huge tracts of land would have to be covered with photovoltaic panels and solar heating troughs. A direct-current (DC) transmission backbone would also have to be erected to send that energy efficiently across the nation.
The technology is ready. On the following pages we present a grand plan that could provide 69 percent of the U.S.’s electricity and 35 percent of its total energy (which includes transportation) with solar power by 2050. We project that this energy could be sold to consumers at rates equivalent to today’s rates for conventional power sources, about five cents per kilowatt-hour (kWh). If wind, biomass and geothermal sources were also developed, renewable energy could provide 100 percent of the nation’s electricity and 90 percent of its energy by 2100.
Full article continues at: Scientific American article on USA solar energy potential
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WARNING: Investing in common equity of public companies is a high risk, high potential reward activity. Owning investments in individual alternative energy companies is for high risk investors only, and medium risk investors should consider green mutual funds, clean energy funds, renewable power index funds and other sector plays. Even then, these should be owned as part of a widely diversified portfolio. There is a gathering mania for investing in publicly-traded alternative energy companies, similar to the computer, technology, internet and banking / real estate booms of the past two decades. There will be some nasty corrections along the way, and some years from now when they come crashing down en masse, the world will still benefit from all the amazingly advanced clean and efficient energy technology created during the bull run. (Above note re-written March 2009 as my earlier prediction of a market top and a crash in the sector starting in August '09 was hastened by the credit markets collapse and began in August 2008, before the bubble had fully formed. Of all the sectors in the equity markets, clean energy has the best prospects to assume market leadership and public favour; we are bouncing aong the bottom still, and those who have followed our guidance to begin including (in a judiciously blended portfolio of cash, bonds, stocks and yes, um... real estate) green energy investment funds dollar-cost-averaging programs in Winter and Spring of 2009 are well positioned for longterm capital growth.)
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