Like most good things happening in the world now days this is also because of China they were not under the same de beers marketing magic rest of the world was once the Chinese abandoned mined diamonds prices have catered.
Btw Blood diamonds was also a successful marketing ploy of De beers to keep out the competition. It was weird to me how western countries only cared about the exploitation of diamonds.
Old, traditional car companies just can't keep up with how fast electric vehicle (EV) tech is changing, especially with what's coming out of China. They're stuck in the past, where it takes them 5 to 10 years to plan, design, and release new car models. Even then, they often just tweak an old car's design instead of making something completely new.
But in China, there's a ton of competition among EV makers. Many of these companies actually started out making electronics, so they're used to improving things super fast, year after year. This means they're constantly releasing new and better EVs, while the older car companies are still taking their sweet time.
You would be arguing wrongly YouTube today is the largest trove of knowledge accessible by the largest number of people in the world. It also has a lot of false information but overall it is one of the greatest cause of change in the world.
I was never able to get my head around programing despite my interest over the years. But LLM and python scripts in the last 3-4 years have changed my life.
Last month in China BESS auction went for around $56/kwh that's not just the battery but the whole system. So the numbers they used are probably more than current battery prices.
Actually, that report is stronger than you're implying.
It's saying solar + batteries is enough to supply 97% of power cheaper than any other way in sunny locales.
It's possible to get 99.99% of your power with solar + batteries, you'd just need a lot of batteries. The news is that batteries have got so cheap that you're better installing enough batteries to hit 97% and leave your natgas peakers idle 97% of the time. That number used to be a lot lower, and that 97% number will be higher every year.
The other cool thing about that report is that it gives a number of 90% for non-ideal places. Sure solar is cheap in sunny locales, but that solar is cheap in places that aren't sunny is far more exciting to me.
The other thing the report isn't saying is that those numbers improve a lot if you have power transmission or other forms of power generation (say wind). They're calculating things as if you're a datacenter in a single location trying to yourself without any grid connection.
A small amount of other power generation whose output isn't correlated with the sun overhead should do a lot to make the last few percent (which come up when there's many cloudy days in a row) cheaper.
Solar's just knocking it out of the park at this point. Building out anything else new (as in you haven't already started) doesn't really make sense.
It is possible to get >100% from solar + batteries. All energy needs can be handled using only a small fraction of solar radiation reaching the planet’s surface.
That said, using it in aircraft (and a number of boots/submersibles) economically is an unsolved problem, but many other places can use it.
Using it in aircraft cheaply is an unsolved problem. We know how to turn CO2 and water into jet fuel with enough energy input. It's just an order of magnitude more expensive than the fossil alternative.
What a koinkidink, I just saw a news about a research platform for exactly that (okay, it's for ships but still) starting now, with the idea being to use surplus offshore wind electricity which otherwise would go unused: https://www.dlr.de/en/tt/latest/news/2025/synthetic-fuel-fro...
As with everything, an upper bound on the energy cost, how many n-kWh does it take to produce a battery that stores 1-kWh-per-cycle-times-m-cycles, is the $ cost of that {1 kWH, m cycles} battery divided by the $ cost of 1 kWh of energy.
E.g. if a {1 kWh, 1000 cycles} battery costs USD 50 to make, and it's made using electricity that costs USD 0.1/kWh, (USD 50)/(USD 0.1/kWh) = 500 kWh. If it needed more energy than that, they would be getting sold at a loss. As a bonus point, this upper bound naturally includes the entire supply chain including the personal purchases of the people working in the factories that make the batteries, all the way up to any waste from e.g. unnecessary private jet flights made by unwise billionaire owners of the battery companies.
This example battery then allows you to time-shift 1000 kWh of electricity from day to night before it needs replacement or refurbishment.
But note the difference between "energy" and "electricity". This kind of calculation is made more complicated by the actual energies used being quite diverse in cost and type, e.g. Pacific-crossing cargo ships are mostly fossil fuelled, the stuff the mining company uses could be any mix of electric or fossil, the aluminium is extracted from ore electrically but any steel probably isn't, etc.
The ecological cost is also strongly dependent on how far the world has gone in greening itself before that battery was made. The first Li-Ion batteries were made in an industrial base that was mostly fossil powered, new ones in China are made in an industrial base that gets 35% of its electricity from renewables.
China is also now facing an interesting problem as solar + batteries are cheaper than coal today. But coal currently is around 60% of its electricity supply it uses around 10 trillion kwh. So 6 trillion kwh * $0.08c is $600 billion ie it will have to destroy a $5-600 billion industry that employees millions of people. But at the same time it will be getting cheaper energy and the cost of producing energy will keep getting cheaper each year that would be another deflationary pressure on its economy.
Of all the places I think China has the least sentiment for protecting business of industries it doesn't want, to keep a line going up on paper.
Their push for renewables and energy independence is very deliberate. When they reach the goal, it's not "oh noes, our precious coal jobs, how are we going to placate rural voters and coal lobbyists", it's cheaper energy, and workers freed to be moved to more productive things.
It's funny that our hope for the future now seems to stand upon the Chinese Communist Party being the paragons of enlightened, unsentimental capitalism that we never were.
Oh I know I am just saying China currently needs to stimulate it internal consumption to maintain its economic growth targets. But cheaper energy that keeps getting cheaper each year is a wierd problem to have and it will be interesting to see how it plays out in the next 5-10 year.
That’s only a problem if you care about the stranded investment side. The energy industry isn’t that personel intensive (plus you could just continue to employ the people).
But they absolutely will deprecate the power plants and stop buying the coal. The former will bankrupt some of the projects which planned with much longer repayment periods. The latter will immediately safe money
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