Even at $10/barrel, oil can’t match solar on cost

ScienceRocks

Democrat all the way!
Mar 16, 2010
59,455
6,792
1,900
The Good insane United states of America
Even at $10/barrel, oil can’t match solar on cost

One of the biggest banks in the Middle East and the oil-rich Gulf countries says that fossil fuels can no longer compete with solar technologies on price, and says the vast bulk of the $US48 trillion needed to meet global power demand over the next two decades will come from renewables.

The report from the National Bank of Abu Dhabi says that while oil and gas has underpinned almost all energy investments until now, future investment will be almost entirely in renewable energy sources.
“Cost is no longer a reason not to proceed with renewables,” the 80-page NBAD report says. It says the most recent solar tender showed even at $10/barrel for oil, and $5/mmbtu for gas, solar is still a cheaper option.

And we all know that black crap is going to go up in price in the future! Solar can only get cheaper and will as far as we're concerned won't run out. ;)
 
Even at $10/barrel, oil can’t match solar on cost

One of the biggest banks in the Middle East and the oil-rich Gulf countries says that fossil fuels can no longer compete with solar technologies on price, and says the vast bulk of the $US48 trillion needed to meet global power demand over the next two decades will come from renewables.

The report from the National Bank of Abu Dhabi says that while oil and gas has underpinned almost all energy investments until now, future investment will be almost entirely in renewable energy sources.
“Cost is no longer a reason not to proceed with renewables,” the 80-page NBAD report says. It says the most recent solar tender showed even at $10/barrel for oil, and $5/mmbtu for gas, solar is still a cheaper option.

And we all know that black crap is going to go up in price in the future! Solar can only get cheaper and will as far as we're concerned won't run out. ;)

Excellent news. Kill the solar subsidies and mandates.
 
Whaaaaaaaaaaat???
468602_10152805447785062_1269999849_o.jpg

:eek:
 
And we all know that black crap is going to go up in price in the future! Solar can only get cheaper and will as far as we're concerned won't run out. ;)

I'll have to disagree. a 2 m2 solar cell will yield about 1.5 kwh of energy per day, or roughly 11,000 kwh during its lifetime ( assuming 20 years). So you get 11,000 kwh for $300.
A barrel of oil yields about 5,300 kwh, now you still have to put some more energy to convert crude into gasoline. Let's assume 25% is used for such purpose. We get 3,975 kwh per barrel. So the break even price is about $108.
The figure may vary if the purpose is fueling an electric car, because electric motors are more efficent than internal combustion engines (about twice) , so in this case the break-even price would be $54 per barrel.

Solar is definitively cheaper than fracking but not cheaper than conventional oil ( yet).
 
And, at present, limited on range for EV's. Good urban vehicle, not so good for long distance travel. But that is changing as we speak.

Another point, is that if you have solar on your roof, an adaquete amount, of course, and an EV, no embargo or refinery problem can affect your vehicle and wallet.

Good points on the oil prices. Since oil has been above $54 a barrel for most of the last year or two, the EV's look good on that. Better as the price will go up as the Asian and European economies get back on track.
 
Even at $10/barrel, oil can’t match solar on cost

One of the biggest banks in the Middle East and the oil-rich Gulf countries says that fossil fuels can no longer compete with solar technologies on price, and says the vast bulk of the $US48 trillion needed to meet global power demand over the next two decades will come from renewables.

The report from the National Bank of Abu Dhabi says that while oil and gas has underpinned almost all energy investments until now, future investment will be almost entirely in renewable energy sources.
“Cost is no longer a reason not to proceed with renewables,” the 80-page NBAD report says. It says the most recent solar tender showed even at $10/barrel for oil, and $5/mmbtu for gas, solar is still a cheaper option.

And we all know that black crap is going to go up in price in the future! Solar can only get cheaper and will as far as we're concerned won't run out. ;)

Excellent news. Kill the solar subsidies and mandates.
Why yes, and kill the coal, gas, and oil subsidies as well. And make coal pay for the health problems it creates in this nation.
 
Even at $10/barrel, oil can’t match solar on cost

One of the biggest banks in the Middle East and the oil-rich Gulf countries says that fossil fuels can no longer compete with solar technologies on price, and says the vast bulk of the $US48 trillion needed to meet global power demand over the next two decades will come from renewables.

The report from the National Bank of Abu Dhabi says that while oil and gas has underpinned almost all energy investments until now, future investment will be almost entirely in renewable energy sources.
“Cost is no longer a reason not to proceed with renewables,” the 80-page NBAD report says. It says the most recent solar tender showed even at $10/barrel for oil, and $5/mmbtu for gas, solar is still a cheaper option.

And we all know that black crap is going to go up in price in the future! Solar can only get cheaper and will as far as we're concerned won't run out. ;)

Excellent news. Kill the solar subsidies and mandates.
Why yes, and kill the coal, gas, and oil subsidies as well. And make coal pay for the health problems it creates in this nation.

Which subsidies do you imagine coal, gas and oil receive?
 
Depletion allowance, for one. No, depletion allowance for wind or sun.

Depletion allowance is just depreciation for natural resources.
Every industry can use depreciation, it's not unique to fossil fuels.
If your company installs $1 million in solar panels, you can bet they depreciate it.
 
Depletion allowance, for one. No, depletion allowance for wind or sun.

DEPRECIATION ALLOWANCE INFORMATION
The federal Economic Stimulus Act of 2008, enacted in February 2008, included a 50% bonus depreciation (26 USC § 168(k)) provision for eligible renewable-energy systems acquired and placed in service in 2008. This provision was extended (retroactively to the entire 2009 tax year) under the same terms by The American Recovery and Reinvestment Act of 2009 enacted in February 2009.
What percentage of my wind turbine system can I depreciate on my tax forms?
Small wind turbine owners are entitled to deduct 50% of the adjusted basis of the property in 2008 and 2009. The remaining 50% of the adjusted basis of the property is depreciated over the ordinary depreciation schedule. Before calculating depreciation for such a project, including any bonus depreciation, the adjusted basis of the project must be reduced by one-half of the amount of the energy credit for which the project qualifies.

Small Wind Investment Tax Credit Small Wind ITC Depreciation
 
And we all know that black crap is going to go up in price in the future! Solar can only get cheaper and will as far as we're concerned won't run out. ;)

I'll have to disagree. a 2 m2 solar cell will yield about 1.5 kwh of energy per day, or roughly 11,000 kwh during its lifetime ( assuming 20 years). So you get 11,000 kwh for $300.
A barrel of oil yields about 5,300 kwh, now you still have to put some more energy to convert crude into gasoline. Let's assume 25% is used for such purpose. We get 3,975 kwh per barrel. So the break even price is about $108.
The figure may vary if the purpose is fueling an electric car, because electric motors are more efficent than internal combustion engines (about twice) , so in this case the break-even price would be $54 per barrel.

Solar is definitively cheaper than fracking but not cheaper than conventional oil ( yet).
1.5 Kw is enough to power a blow dryer. Appliances like clothes dryers and ovens consume vast amounts of electricity. 1.5 KWH would even begin to power the typical American home.

Oil isn't used to produce electricity, for the most part. Much cheaper coal and natural gas are the most common means of generating electricity. You numbers are absurd.
 
Even at $10/barrel, oil can’t match solar on cost

One of the biggest banks in the Middle East and the oil-rich Gulf countries says that fossil fuels can no longer compete with solar technologies on price, and says the vast bulk of the $US48 trillion needed to meet global power demand over the next two decades will come from renewables.

The report from the National Bank of Abu Dhabi says that while oil and gas has underpinned almost all energy investments until now, future investment will be almost entirely in renewable energy sources.
“Cost is no longer a reason not to proceed with renewables,” the 80-page NBAD report says. It says the most recent solar tender showed even at $10/barrel for oil, and $5/mmbtu for gas, solar is still a cheaper option.

And we all know that black crap is going to go up in price in the future! Solar can only get cheaper and will as far as we're concerned won't run out. ;)

Excellent news. Kill the solar subsidies and mandates.
Why yes, and kill the coal, gas, and oil subsidies as well. And make coal pay for the health problems it creates in this nation.

That wouldn't bother me a bit. Of course, you would be the first to object to a lot of what you call "subsidies." Stuff like programs that help old people pay their utility bills.
 
Well, considering that oil is a consumable, meaning that once you use it it's gone, and considering that the only money you have to sink into wind and solar energy once it's built is that required for maintenance, yeah...........I think that it's cheaper right now to build wind farms and solar farms than it is to drill or frack a new well.
 
Well, considering that oil is a consumable, meaning that once you use it it's gone, and considering that the only money you have to sink into wind and solar energy once it's built is that required for maintenance, yeah...........I think that it's cheaper right now to build wind farms and solar farms than it is to drill or frack a new well.

and considering that the only money you have to sink into wind and solar energy once it's built is that required for maintenance,

And replacing it every 20 years or so.
 
Well, considering that oil is a consumable, meaning that once you use it it's gone, and considering that the only money you have to sink into wind and solar energy once it's built is that required for maintenance, yeah...........I think that it's cheaper right now to build wind farms and solar farms than it is to drill or frack a new well.

and considering that the only money you have to sink into wind and solar energy once it's built is that required for maintenance,

And replacing it every 20 years or so.
And the occasional hail storm or tornado.
 
1.5 Kw is enough to power a blow dryer. Appliances like clothes dryers and ovens consume vast amounts of electricity. 1.5 KWH would even begin to power the typical American home.

Oil isn't used to produce electricity, for the most part. Much cheaper coal and natural gas are the most common means of generating electricity. You numbers are absurd.

Regardless, oil is used to fuel cars. At $55 per barrel you get to a break even price.
Since long I've suspected that shale gas has been recieving a subsidy from shale oil ... we'll find out soon enough if my theory is right or not.
 

Forum List

Back
Top