Net-Zero 2050 has become a bit of a catchphrase, and while predictions about the speed of decarbonization vary, there are a number of technologies that are speeding it up
European and Australian labs think they can exceed 31% efficiency level in perovskite/tandem cells. They have been trying for years. Compare this to 15-20% efficiency for many cells in use. Photovoltaic solar output, which has grown 22% per year in the past five years, now accounts for about 5% of total US electric generation.
Some critics have argued that making these carbon-dioxide-reducing investments is daft from a business perspective. They depend on subsidies so they distort the market. They won’t earn their cost of capital. And, maybe so, but those objections are beside the point. Governments have splashed out the subsidies to change the trajectory of the market, and there are plenty of takers.
Fossil fuel lobbyists may have assured their clients that they have the politicians under control, so don’t worry. But politicians can neither control the technologists nor entrepreneurs that see opportunities ahead. Even worse for legacy interests, the economics of the new technologies guarantee that they will stay in the business, competing even if making the original investment was a big mistake. Decarbonization may come sooner than expected. Before 2050, that is.
Belgique Dernières Nouvelles, Belgique Actualités
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