Renewable Energy: Back the Renewables Boom. Trancik, J. E. 507(7492):300–302. ![Renewable Energy: Back the Renewables Boom [link]](https://bibbase.org/img/filetypes/link.svg "link")
Paper doi abstract bibtex Low-carbon technologies are getting better and cheaper each year, but continued public-policy support is needed to sustain progress, says Jessika E. Trancik. [Excerpt] [...] Public policies to encourage the development and adoption of renewable-energy technologies are essential, because low-carbon performance is not visible to most consumers and carbon is not priced in the global market. [...] The speed of energy-technology innovation is only just coming to light as long-term data sets become available. My analyses of 30 or more years of data2-4 show that the costs of renewable-energy technologies have fallen steeply. Photovoltaic module costs have plunged by about 10\,% per year over the past 30 years and the costs of wind turbines have fallen by roughly 5\,% per year. Production levels for both technologies have risen by about 30\,% per year on average. The technical advances responsible have been driven by public policies and industry's responses to them. Governments spend a relatively modest amount on renewable-energy research, roughly US\$5 billion per year globally, which is less than one-tenth the amount allocated to health research. But government incentives are essential for market growth; they drive private-sector investments in clean-energy technologies of about \$250 billion per year globally. [...] Any major energy transformation will involve stumbles – from technologies that flop or companies that close to imperfect policy instruments, such as the teething troubles with the European emissions-trading scheme. Encouraging a diversity of innovations and monitoring progress will lessen these risks.
@article{trancikRenewableEnergyBack2014,
title = {Renewable Energy: Back the Renewables Boom},
author = {Trancik, Jessika E.},
date = {2014-03},
journaltitle = {Nature},
volume = {507},
pages = {300--302},
issn = {0028-0836},
doi = {10.1038/507300a},
url = {https://doi.org/10.1038/507300a},
abstract = {Low-carbon technologies are getting better and cheaper each year, but continued public-policy support is needed to sustain progress, says Jessika E. Trancik.
[Excerpt] [...] Public policies to encourage the development and adoption of renewable-energy technologies are essential, because low-carbon performance is not visible to most consumers and carbon is not priced in the global market. [...] The speed of energy-technology innovation is only just coming to light as long-term data sets become available. My analyses of 30 or more years of data2-4 show that the costs of renewable-energy technologies have fallen steeply. Photovoltaic module costs have plunged by about 10\,\% per year over the past 30 years and the costs of wind turbines have fallen by roughly 5\,\% per year. Production levels for both technologies have risen by about 30\,\% per year on average.
The technical advances responsible have been driven by public policies and industry's responses to them. Governments spend a relatively modest amount on renewable-energy research, roughly US\$5 billion per year globally, which is less than one-tenth the amount allocated to health research. But government incentives are essential for market growth; they drive private-sector investments in clean-energy technologies of about \$250 billion per year globally. [...] Any major energy transformation will involve stumbles -- from technologies that flop or companies that close to imperfect policy instruments, such as the teething troubles with the European emissions-trading scheme. Encouraging a diversity of innovations and monitoring progress will lessen these risks.},
keywords = {*imported-from-citeulike-INRMM,~INRMM-MiD:c-13111300,carbon-emissions,coal,costs,energy,environmental-policy,innovation,renewable-energy,science-policy-interface,solar-energy},
number = {7492}
}
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[...] The speed of energy-technology innovation is only just coming to light as long-term data sets become available. My analyses of 30 or more years of data2-4 show that the costs of renewable-energy technologies have fallen steeply. Photovoltaic module costs have plunged by about 10\\,% per year over the past 30 years and the costs of wind turbines have fallen by roughly 5\\,% per year. Production levels for both technologies have risen by about 30\\,% per year on average. The technical advances responsible have been driven by public policies and industry's responses to them. Governments spend a relatively modest amount on renewable-energy research, roughly US\\$5 billion per year globally, which is less than one-tenth the amount allocated to health research. But government incentives are essential for market growth; they drive private-sector investments in clean-energy technologies of about \\$250 billion per year globally. 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