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Oil plays a negligible role in power generation and therefore does not compete with renewables in this respect. Renewables have become the dominant source of new power generation capacity over the last six years because they are competitive at the bottom end of the conventional fossil fuel power generation cost range – primarily with coal.

Oil plays a much more important role in the transport sector, which accounts for half of total demand, and where without low-emission transport policies in place, an extended period of low oil prices, may impact the speed of electric vehicle adoption.

Conversely, oil price volatility may undermine the viability of unconventional oil and gas resources as well long-term contracts, providing a window of opportunity to reduce or redirect fossil fuel subsidies towards clean energy, while minimising the potential of social disruption.

Future plans for energy production in the European Union as well as other locations call for a high penetration of renewable technologies (20% by 2020, and higher after 2020). The remaining energy requirements will be met by fossil fuels and nuclear energy. Smaller, less-capital intensive nuclear reactors are emerging as an alternative to fossil fuel and large nuclear systems. Approximately 50 small (<300 MWe) to medium-sized (<700 MWe) reactors (SMRs) concepts are being pursued for use in electricity and cogeneration (combined heat and power) markets. However, many of the SMRs are at the early design stage and full data needed for economic analysis or market assessment is not yet available. Therefore, the purpose of this study is to develop “target cost” estimates for reactors deployed in a range of competitive market situations (electricity prices ranging from 45–150 €/MWh). Parametric analysis was used to develop a cost breakdown for reactors that can compete against future natural gas and coal (with/without carbon capture) and large nuclear systems. Sensitivity analysis was performed to understand the impacts on competitiveness from key cost variables. This study suggests that SMRs may effectively compete in future electricity markets if their capital costs are controlled, favorable financing is obtained, and reactor capacity factors match those of current light water reactors. This methodology can be extended to cogeneration markets supporting a range of process heat applications.

Renewables are the fastest-growing source of world energy supply, but fossil fuels are still set to meet more than three-fourths of total energy needs in 2035 assuming current policies are unchanged

Who’s driving us toward disaster? A radical answer would be the reliance of capitalists on the extraction and use of fossil energy. Some, however, would rather identify other culprits. The earth has now, we are told, entered “the Anthropocene”: the epoch of humanity. Enormously popular — and accepted even by many Marxist scholars — the Anthropocene concept suggests that humankind is the new geological force transforming the planet beyond recognition, chiefly by burning prodigious amounts of coal, oil, and natural gas.

The important thing to note here is the logical structure of the Anthropocene narrative: some universal trait of the species must be driving the geological epoch that is its own, or else it would be a matter of some subset of the species. But the story of human nature can come in many forms, both in the Anthropocene genre and in other parts of climate change discourse.

Giving short shrift to all the talk of a universal human evildoer, she writes, “We are stuck because the actions that would give us the best chance of averting catastrophe — and would benefit the vast majority — are extremely threatening to an elite minority that has a stranglehold over our economy, our political process, and most of our major media outlets.”

Ecologically sustainable energy technologies comprise renewable energy supply together with improved efficiency of energy conversion and use. Together they can mitigate the climate crisis, greatly reduce pollution of air, water and land, create more jobs than are lost in the fossil fuel industries they replace, and contribute to energy independence and social equity. The best technical energy supply strategy is transitioning fossil fuelled electricity to renewables, electrifying most heating and transportation, and producing fuels by using renewable electricity to make hydrogen and ammonia. This technological transition is necessary and urgent, but unlikely to be sufficiently rapid to avoid irreversible climate change. Substantial demand reductions are needed by rich countries, beyond the technological measures of energy efficiency. This would entail an end to growth in energy production, materials extraction, land clearing and population, that is, the creation of a steady-state economy within Earth’s biocapacity.

Part of what makes the military’s renewable energy projects so attractive to would-be investors is that the service owns so much land that lends itself to such projects.

But a deeper analysis requested by the Guardian shows that only one in three homes, or about 10.3m households, will see the predicted reductions in their combined bills as a result of installing one or more of the renewable energy or efficiency measures, or receiving the Warm Home Discount for low-income and vulnerable households. Meanwhile the majority of bill payers, 19.1m, will see an average increase in their bills, over and above the extra costs of rising fossil fuel prices and huge investment in the electricity grid.