Solar photovoltaics will be in an “unassailable position” as the cheapest source of new electricity by 2050.
This is according to DNV, which is one of the biggest global risk management firms in the world and delivered more than $2.3 billion in revenue last year.
In its latest energy outlook, DNV provided an exceptionally thorough analysis on the transition of the global energy economy.
Here are some highlights…
High energy prices and a greater focus on energy security due to the war in Ukraine will not slow the long-term transition:
- Europe aims to accelerate its renewables buildout to achieve energy security.
- In the rest of the world, tackling high energy and food prices may shift decarbonization down the list of priorities in the short term.
- The long-term influence of the war on the pace of the energy transition is low compared with main long-term drivers of change: plunging renewables costs, electrification, and rising carbon prices
Electricity will remain the mainstay of the transition; it is growing bigger and greener everywhere:
- With an expected 83% share of the electricity system in 2050, renewables are squeezing the fossil fuel share of the overall energy mix to just below the 50% mark in 2050.
- Despite short-term raw material cost challenges, the capacity growth of solar and wind is unstoppable: By 2050, they are expected to have grown 20-fold and 10-fold, respectively.
- Hydrogen will only supply 5% of global energy demand in 2050.
- Pure hydrogen use will scale in manufacturing from the early 2030s and in derivative form (ammonia, e-methanol, and other e-fuels) in heavy transport from the late 2030s.
- Green hydrogen from dedicated renewables and from the grid will become dominant over time; blue hydrogen and blue ammonia will retain important roles in the long term.
One thing to note is that the continued and rapid proliferation of renewable energy is primarily the result of massive decreases in manufacturing and installation costs. Had the renewable energy industry not been able to drastically reduce these costs the way it did, none of this would be happening right now.
And these cost reductions continue to happen. Our analysts have traveled the world over, dedicated to finding the best and most profitable investments in the global energy markets. All you have to do to join our Energy and Capital investment community is sign up for the daily newsletter below.
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In fact, we recently got a look at a new report by Lumen Energy Strategy for the California Public Utilities Commission. The highlight of that report?
California’s energy storage portfolio could yield net grid benefits of up to $1.6 billion a year now that the state is looking to expand its grid-scale battery installations.
Folks, the only reason the state could see a net benefit of $1.6 billion is because over the past 10 years, the cost to produce and install these grid-scale batteries has plummeted.
Utilities aren’t installing these things at a record pace for fun.
These are well-calculated, strategic decisions that reward shareholders, and that’s all it ever really boils down to.
The solar industry is now seeing some of the biggest gains in terms of investments and market share.
In fact, this year alone, solar power spending is due to hit more than $1 billion a day.
Read that again — $1 billion every single day.
You don't have to be rocket scientist to know that when the smart money is ponying up $1 billion a day for something, it's probably a good idea to get some of that action for yourself.
And that's why the Energy and Capital research team just put together this new solar investment report that details a new opportunity to earn monthly dividend payments from solar power projects all over the world.
And these dividend payments aren't chump change.
In fact, one of these projects could eventually earn you an estimated $98,325 in royalties on monthly investments of just $100.
Bump that up to $1,000, and you’re looking at an eventual estimated $983,255.
That’s nearly $1 million — just from monthly royalty payments.
Bottom line: There's never been a better time to profit off the solar boom, and there's never been an easier way to earn nearly $1 million from a single solar investment.
Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor’s page.
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