Full Title: The Limits to Green Energy
Author(s): Paul Bonifas and Tim Considine
Publisher(s): Cato Institute
Publication Date: January 22, 2023
Full Text: Download Resource
Description (excerpt):
The consensus is that grid instability and power cost increases will occur as renewable penetration increases, though there is no consensus on what level of renewable penetration will be the threshold of serious problems. While the United States currently has 20% renewable energy penetration, NREL’s latest study predicts 57% RE penetration by 2050 while EIA predicts 37% by
2050. The difference between the two predictions is indicative of the gamble currently playing out over the U.S. power grid. Going well beyond the current 20% penetration of VRE is a risk, with skyrocketing electricity prices and grid instability as
consequences.
The power demand for the U.S. grid is projected to be virtually flat over the next 30 years. That would change dramatically if we try to electrify the entire economy. It would add two new giant power demands: for transportation and for heating. The seasonal storage problem would only compound the difficulty, bringing the whole endeavor into question.