Fossil energy can be called the culprit of global warming, and its harm has long been known. But the key question is whether renewable energy, which is regarded as a solution to climate change, can be enough to replace the former's role in global power supply.

All countries in the world are facing the same challenge, that is, how to achieve sustainable development while meeting public energy needs.

Clean energy is the general trend

According to a report by the research company Bloomberg New Energy Finance, although the transition rate is different, all regions of the world are developing in the direction of clean energy. Since 2010, the global renewable energy capacity has quadrupled to 1,650 GW, more than all power plants in the United States combined. By 2050, 92% of the European power generation energy sources will be clean energy, and fossil energy will be almost absent. India and China will account for 63% and 62% of the two BRIC countries, respectively, while the United States will only have 43%. %.

However, developing countries often still need carbon-intensive investments or projects to reduce poverty. This objective development law means that the country's carbon emissions that are still in the process of industrialization have not yet reached the peak, and will not naturally decline. In the developing regions of the world, coal still accounts for the dominant energy consumption. It is expected that Indonesia's coal-fired power generation capacity will nearly double in the next 25 years.
Fortunately, continued global investment in renewable energy is conducive to speeding up the reversal of this situation. According to reports from Bloomberg New Energy Finance, the United Nations Environment Agency and Frankfurt University of Finance and Management, this investment in 2018 alone reached nearly US$273 billion, which is three times the estimated expenditure for coal and natural gas power generation. With vigorous advancement, China's and India's coal power generation capacity will peak in 2027 and 2028, respectively. By 2050, solar, wind, and hydropower will account for more than 60% of the market share in these two countries.

The key to all-weather power supply is a more flexible grid system
So, what kind of energy consumption structure is ideal, and what kind of renewable energy should be selected first?

Take wind energy and solar energy as examples. After decades of encouragement such as quotas, tax cuts, and feed-in tariff subsidies, these two energy sources have been widely deployed around the world and gradually improved their efficiency. Bloomberg data shows that since 2010, the cost of wind power has been reduced by about 50%, and the cost of solar energy has been significantly reduced by 85%, which makes them more affordable than nearly 70% of the world's new coal and natural gas power plants.

However, experts generally believe that it is not advisable to answer the complex problems of alternative energy all-weather power supply with a relatively single solution. According to the Bloomberg New Energy Finance survey, by 2025, the number of renewable energy power stations will greatly exceed the number of non-renewable energy power stations, but the power generation capacity of the former is still different from the latter.

This involves a lot of considerations. In fact, different types of energy should be linked. For example, we often talk about solar energy, but sometimes it gets dark and we also talk about wind energy, but sometimes the wind does not blow (this means that the power supply is not stable). There are many examples of this. So I think that the next generation of energy focuses on complex grid systems that involve various energy sources and can meet supply needs.

There is no energy for everyone. Everyone hopes to realize the energy transition as soon as possible, but it really depends on the penetration rate (the ratio of the actual power to the total load power) of the renewable energy supply. For example, although wind energy or solar energy, which has existed for thousands of years, can be turned into a localized solution, these two energy sources currently account for only 7% of the global power supply.

If further development is needed, we still need more technological innovation and infrastructure construction. For example, many renewable energy power generation now generates DC power or lower frequency Hertz power, which is incompatible with the existing grid specifications. In the future, we will need to convert more DC and AC power to expand the power generation of renewable energy. scale. In addition, we also need a smarter power grid to regulate the electricity generated by alternative energy sources.

There is no single solution for enhancing grid flexibility. What is important is that in the future, one of our key points of energy transformation is to realize the transition from centralized power generation to decentralized power generation, where electricity is produced locally and consumed locally. This can reduce energy waste and consumption during transportation and make energy more efficient.

Each type of energy has its own shortcomings, and all of these energy sources have a great price. Our challenge is to see how society can slow down and minimize these costs, and this is what we are doing.

Lower and lower-cost energy storage battery investment will become hotter

Regarding the issue of all-weather power supply, if the electricity generated by renewable energy cannot be reasonably stored, and if the cost of batteries is so high that power plants are unwilling to store a few hours of power generation at a time, it is difficult for clean energy to replace fossil energy.

In this context, this year’s Nobel Prize in Chemistry was awarded to three scientists, John B. Goodenough, Stanley Whittingham, and Akira Yoshino, for their expertise in lithium-ion batteries. Research contributions. This battery can store solar and wind energy, making a world without fossil fuels possible.

This is a very important point in the discussion of energy transition, because a major challenge we are facing now is how to store energy, and the development of battery storage technology will be a new and important step forward.

According to a Bloomberg New Energy Finance report, in the past less than ten years, battery prices have fallen by 84%, providing a solution to the rapid growth in energy storage demand. According to the agency's forecast, global energy storage devices will increase 122 times from 2018 to 2040, and the scale leap during this period will require a large amount of investment to be realized.

Fortunately, lower and lower battery costs will encourage investors to invest in public-scale batteries. Bloomberg predicts that the cost of lithium-ion batteries per kilowatt-hour will be further reduced by half by 2030. In this way, by 2050, the investment received by public-scale batteries is expected to reach 521 billion U.S. dollars, compared with only 322 billion U.S. dollars for small-scale batteries. In addition, measured in gigawatts, nearly three-quarters of the global energy storage device market is occupied by 10 countries. By 2040, China and the United States will be far ahead, while South Korea, the current major market, will lose its position. Other important markets include India, Germany, Latin America, Southeast Asia, France, Australia and the United Kingdom.

There are many kinds of energy sources that can be started with lithium battery technology, such as methanol fuel cells, which is a solution for electricity storage. But in addition, you must control the load in a smart way so that the load is adjustable. All in all, there is no single solution here, it must be used in combination.

In the future, JUNLEE Energy, which has been committed to battery research and development, is a challenge and an opportunity. The R&D team of engineers will provide the world with more economical new energy batteries, and will improve lithium-ion battery technology to reduce the total cost.

JUNLEE Group is an integrated full power energy factory that specializes in Uninterruptible Power Supply (UPS), Lead-Acid Battery, Battery pack, EV battery, Energy Storage Battery, Energy storage power station, Power pack Gel battery, PV Inverter and Solar system.

Production capacity reach 200000 KVaH per month. Products apply to Electric vehicles,electric mobility, solar & wind energy storage system, UPS, backup power, telecommunication, medical equipment and lighting.

JUNLEE sets up "Power research center" with more High-tech products.More than 100 engineers provided in-time and efficient one-stop solutions.
They mission strives to bring green power to the world.
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