{"id":14913,"date":"2015-12-05T05:59:40","date_gmt":"2015-12-05T10:59:40","guid":{"rendered":"http:\/\/www.l-a-k-e.org\/blog\/?p=14913"},"modified":"2015-12-05T06:01:11","modified_gmt":"2015-12-05T11:01:11","slug":"sun-and-wind-are-winning-over-fracked-methane-shale-gas-goldman-sachs","status":"publish","type":"post","link":"http:\/\/www.l-a-k-e.org\/blog\/2015\/12\/sun-and-wind-are-winning-over-fracked-methane-shale-gas-goldman-sachs.html","title":{"rendered":"Sun and wind are winning over fracked methane shale gas –Goldman Sachs"},"content":{"rendered":"

\nSolar PV, onshore wind, electric vehicles, and LED lighting will win for all of us and profit in the next five years, says Goldman Sachs, which just put $150 billion of its own money where its mouth is.
\nHow about you, world leaders gathered in Paris?<\/p>\n

\nChris Martin, BloombergBusiness, 30 November 2015,
\n
\nWind, Solar Power to Supply More Energy Than Shale, Goldman Says<\/a>,<\/p>\n

\n

\nNew wind turbines and solar panels worldwide will provide more
\nenergy over the next five years than U.S. shale-oil production has
\nover the past five, according to Goldman Sachs Group Inc.\n<\/p>\n

\n
\n\"Four<\/a>\n<\/p>\n

\nThe leading renewable-energy technologies will add the equivalent of
\n6.2 million barrels of oil a day to the global energy mix, exceeding
\nthe 5.7 million barrels a day pumped from U.S. shale oil wells since
\n2010, analysts including Brian Lee and Jaakko Kooroshy said in a
\nresearch report Monday….\n<\/p>\n

\n“Wind and solar are on track to exceed 100 gigawatts in new
\ninstallations for the first time,” <\/p>\n

the analysts wrote. Solar
\nand wind energy are saving a gigaton of carbon dioxide emissions
\nannually and the market for four leading low-carbon technologies is
\nnow worth more than $600 billion per year. “We identify LEDs,
\nsolar PV, onshore wind and hybrid and electric vehicles as clear
\nfront-runners in the emerging low-carbon economy.”\n<\/p>\n<\/blockquote>\n

\nSo not only is fixing climate change profitable, as Citi said<\/a>,
\nwe are indeed already getting on with it, because profit.<\/p>\n

\n
\n<\/a>
\nIt’s almost as if somebody had predicted this years ago.
\nOh, wait, former TVA CEO S. David Friedman<\/a>,
\nformer FERC Chair Jon Wellinghof<\/a>,
\nand, well, me<\/a> did.
\nWith
\n
\nthe actual solar deployment figures<\/a> from eia and FERC showing Wellinghoff
\nwas a tad too conservative in his projection of solar deployment doubling every two years.<\/p>\n

\nSolar power
\n
\nwill win like the Internet did<\/a>.
\nThey cloudy day doesn’t last for an entire month<\/a>
\nand the skies are clearing so we can see the sun and wind supplying all the power we need.<\/p>\n

\nWhat they’re quibbling over in Paris is how fast sun and wind will win.
\nAnd if world “leaders” get off the duffs they’ve been sitting on while
\nMalaysia burns and island nations disappear into the sea (to be followed by Miami, New Orleans, Boston, and many others), the change will come faster.
\nTargets way out in 2030 and 2050 are great, although the targets being set are
\nway too low, unless they’re for
\n
\npowering the whole world with sun, wind, and water by 2050<\/a>.<\/p>\n

\nThe world is already moving ahead, because fixing climate change is profitable<\/a>.
\nIt will move faster if we stop approving any new fossil fuel projects,
\nstop subsidizing fossil fuel companies, and actively promote solar and wind power.
\nThose things the elected officials gathered in Paris can make happen.<\/p>\n

\nGoldman Sachs is putting its money where its mouth is, by
\n
\nquadrupling its investment in wind and sun power<\/a> to $150 billion,
\naccording to Katie Fehrenbacher, Fortune, 2 November 2015.
\nIt’s time for those gathered in Paris to do something.
\nFor example:<\/p>\n

\n

\nAt the same time, the market for solar and wind technologies could
\ntake a hit in the U.S. in 2017. An important federal initiative that
\ngives residents and businesses a 30% tax credit for installing
\nrenewable energy systems is set to expire at the end of 2016 and
\nwill be replaced by a 10% credit. While the tax credit could be
\nextended by Congress, it’s still causing uncertainty in the clean
\nenergy markets in the U.S.\n<\/p>\n<\/blockquote>\n

\nThat tax credit is a drop in the bucket compared to ongoing subsidies for fossil fuels.
\nStop some of those and pay for that 30% for many years.
\nOr cancel a few F-35s.
\nWhen the U.S. and the world runs on sun, wind, and water, there will be no need for wars for oil or gas in the middle east anyway.<\/p>\n

\nThis appears to be the Goldman report descibed in the BloombergBusiness article:
\n
\nThe Low Carbon Economy: GS SUSTAIN equity investor’s guide to a low carbon world, 2015-25<\/a>.
\nIt tries to make a case for switching from coal to “natural” gas, but fails,
\nadmitting that only sun, wind, electric vehicles, and LEDs have the market size, scale, growth, interactions, and policy opportunities to profit and rapidly make a difference.
\nIt notes batteries could help with all that, and smart grid.
\nBiofuels have lost support, hydro has no more rivers to dam, and nuclear is alrady losing percentage of global power generation.
\nIt notes half of all greenhouse gas emissions come from two main sectors:
\nelectricity and heat, and transportation, so obviously those are the main places to save.
\nOther big sectors are “chemicals, metals, & cement”, fossil fuel production, and buildings.
\nAs we’ve already seen, a fast way to stop a lot of emissions and profit from lower power bills is
\nto swtich big buildings to LED lighting<\/a>.<\/p>\n

\nSo, sun, wind, EVs, and LEDs will change the world in the next five years,
\nsays Goldman.
\nAfter that, Goldman’s projections are far too conservative, because they make
\nthe popular mistake of assuming solar and wind growth will be linear,
\nwhen they’re not and won’t be.
\nSolar and wind power are growing exponentially, like compound interest.
\nPretty soon Goldman will realize that.<\/p>\n

\n -jsq<\/p>\n","protected":false},"excerpt":{"rendered":"

Solar PV, onshore wind, electric vehicles, and LED lighting will win for all of us and profit in the next five years, says Goldman Sachs, which just put $150 billion of its own money where its mouth is. How about you, world leaders gathered in Paris? Chris Martin, BloombergBusiness, 30 November 2015, Wind, Solar Power […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47,14,6124,559,24,36],"tags":[8719,8704,1624,8701,6303,8702,12,7,562,8782,1879,309,8714,8986,8987,6,859,8716,8985],"class_list":["post-14913","post","type-post","status-publish","format-standard","hentry","category-climate-change","category-economy","category-natural-gas-2","category-oil","category-solar","category-wind","tag-climate-change","tag-economy","tag-energy","tag-georgia","tag-goldman-sachs","tag-lake","tag-lowndes-area-knowledge-exchange","tag-lowndes-county","tag-natural-gas","tag-oil","tag-power","tag-shale-oil","tag-solar","tag-solar-panel","tag-tax-credit","tag-valdosta","tag-war","tag-wind","tag-wind-turbine"],"_links":{"self":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/14913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/comments?post=14913"}],"version-history":[{"count":2,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/14913\/revisions"}],"predecessor-version":[{"id":14915,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/14913\/revisions\/14915"}],"wp:attachment":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/media?parent=14913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/categories?post=14913"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/tags?post=14913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}