ALPHARETTA, Ga.--(BUSINESS WIRE)--Aug 2, 2023--

Solar power is set to dominate global electricity markets within the next few decades, and may have already

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The cost of solar power has dropped by nearly 90 per cent over the last decade, according to new research, taking it towards a key level that will make fossil fuel-generated power no longer economically viable. Calculations by Berlin-based Mercator Research Institute on Global Commons and Climate Change (MCC) found that the plummeting price of electricity produced by solar panels – down 87 per cent since 2013 – means the transition to renewable energy sources is “cheaper than expected”. The falling costs of batteries and other renewable technologies could also help supercharge the trend towards cleaner energy and meeting climate targets. “Some calculations even suggest that the world’s entire energy consumption in 2050 could be completely and cost-effectively covered by solar technology and other renewables,” said Felix Creutzig, who led the research. “This is an extremely optimistic scenario – but it illustrates that the future is open. Climate science, which provides policymakers with guidance in its scenario models, must reflect technical progress as closely as possible.” The publication of the research follows recent analysis that showed the cost of batteries fell by nearly 10 per cent last month. Energy analytics firm Benchmark Mineral Intelligence said the drop below $100/ kilowatthour (kWh) in August took batteries past a “tipping point” that puts electric vehicles (EVs) on a price parity with fossil fuel-burning vehicles. As well as accelerating the transition to EVs, the fall in battery prices is also a big boost for renewable energy technologies like solar and wind installations, as they use batteries to store excess energy during periods of overproduction. The falling costs for renewable technologies has been attributed to scientific breakthroughs that make them more efficient, as well as decreasing raw material costs. “Greenhouse gas emissions are higher than ever and the measures taken so far are too weak, but in this politically difficult situation, technological progress provides a ray of hope,” said Jan Minx, head of the MCC Applied Sustainability Science working group and one of the leaders of the latest research. “New scenario models, some of which are starting to be explored, are likely to demonstrate in the foreseeable future that the global climate transition might not be as expensive as previously assumed, and may even be cost saving – provided it is finally tackled.” The research was detailed in a study, titled ‘Technological innovation enables low cost climate change mitigation‘, which was published in the journal Energy Research and Social Science. Read More Hundreds of years after it was discovered, one material is about to change the world Solar panel breakthrough could supercharge ‘miracle material’ production Scientists invent solar panels that work in a snow blizzard New discovery is ‘holy grail’ breakthrough in search for aliens, scientist say

Solar and wind energy installations could earn hundreds of millions of dollars by mining bitcoin during periods of excess electricity generation, according to a new study. Scientists from Cornell University in the US, who conducted the research, said setting up mining operations could reduce the environmental impact of cryptocurrency, while also providing revenue that could be reinvested in future renewable energy projects. “Profitability of a mining system hinges on periods of steady energy availability since renewable energy sources can vary significantly,” said Fengqi You, a professor of energy systems at Cornell University. “Therefore, it is important to site the mining farm strategically to maximise productivity.” The state with the most potential for setting up profitable crypto mining operations is Texas, according to the study, with 32 planned renewable projects capable of generating combined profits of $47 million. California, Colorado, Illinois, Iowa, Nevada and Virginia all showed potential, though setting up mining rigs presents a large initial cost. One way of incentivising such projects, Cornell doctoral student Apoorv Lal suggested, could be the introduction of new policies that provide economic rewards for mining bitcoin and other cryptocurrencies with clean energy ”These rewards can act as an incentive for miners to adopt clean energy sources, which can lead to combined positive effects on climate change mitigation, improved renewable power capacity, and additional profits during pre-commercial operation of wind and solar farms,” Mr Lal said. “We also recommend policies that encourage cryptocurrency-mining operations to return some of their profits back into infrastructure development. This would help create a self-sustaining cycle for renewable energy expansion.” Bitcoin has drawn criticism from environmentalists for the vast amounts of electricity required to support its network and mint new units of the cryptocurrency, with recent analysis from the University of Cambridge estimating that it uses roughly the same amount of electricity as Poland. The plummeting costs of renewable energy mean bitcoin miners are increasingly turning to solar, wind and hydro sources to power their operations. “In its current status, the infrastructure that supports the Bitcoin protocol cannot be sustained, but the beauty of the protocol is that the incentive structure will force miners to adopt the cheapest form of electricity, which in the near future will be renewable energy,” Don Wyper, COO of DigitalMint, told The Independent last year. The latest study, titled ‘From mining to mitigation: how bitcoin can support renewable energy development and climate action’, was published in the journal ACS Sustainable Chemistry & Engineering. Read More Bitcoin mining rate hits all-time high amid record-breaking prediction for 2024 Nasa has received a signal from 10 million miles away Scientists reveal surprise finding from huge study into internet and mental health Nasa has received a signal from 10 million miles away Scientists reveal surprise finding from huge study into internet and mental health Software firm Cloudsmith announces £8.8m investment

SINGAPORE--(BUSINESS WIRE)--Aug 8, 2023--

Check out how the mandatory cross-progression works in Apex Legends 19 for players with multiple accounts across PlayStation, PC, Xbox, and Nintendo Switch.

Jack Sweeney, the 20-year-old college student who was once banned from Twitter for posting the real-time movements of Elon Musk’s jet, has a new target: Florida Gov. Ron DeSantis

Mike Novogratz, the founder of Galaxy Digital Holdings Ltd., said he expects Bitcoin to rise by the end

SANTA CLARA, Calif.--(BUSINESS WIRE)--Sep 8, 2023--

Heading to school, college students have to do without some of the comforts of home.