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We are in the midst of a huge technology revolution. In the 2010s, costs for solar PV have decreased by 85%, for wind power by 50% (@REN21 ), and batteries are repeating that pattern. Solar and wind are already the cheapest electricity option in most parts of the world. 
However, electricity currently only accounts for 20% of global final energy, because it is the most costly energy carrier. The remaining 80% non-electric are mostly fossil-based. Transitioning non-electric fuels to low-carbon will take much longer than decarbonizing electricity.
We all grew up in a world where firms and consumers pay a lot more for one kWh of electricity than for any other energy carrier. Electricity is the most costly energy carrier, because it is produced by burning fossil fuels at substantial conversion losses.
Energy Revolution Ahead? Quite possible! Our new paper @NatureEnergyJnl explores the prospects of renewables-based electrification towards limiting warming at 1.5°C.
nature.com/articles/s4156…
Thread on the key points.
nature.com/articles/s4156…
Thread on the key points.
We are in the midst of a huge technology revolution. In the 2010s, costs for solar PV have decreased by 85%, for wind power by 50% (@REN21), and batteries are repeating that pattern. Solar and wind are already the cheapest electricity option in most parts of the world.
However, electricity currently only accounts for 20% of global final energy, because it is the most costly energy carrier. The remaining 80% non-electric are mostly fossil-based. Transitioning non-electric fuels to low-carbon will take much longer than decarbonizing electricity.
