The size of the world economy is about $60 trillion. World oil production is about 90 million barrels per day. At $100 per barrel, the world spends $3.3 trillion (or 5% of its output) on crude. What about electricity? The world electricity production is about 20,000 TWh. At $0.05 kWh (wholesale price), the world spends about $1 trillion on electricity (wholesale).
National Geographic has a nice map of world electricity consumption. They project electricity consumption to rise from 20k TWh to 35k TWh by 2035 (that corresponds to about 2.5% annual growth). Can we achieve this in a sustainable fashion?
3/28/2012
Solar stocks drop - Italy looks to reduce tariffs
About the same time last year Italy has created a bit of a turmoil among the solar investors by reducing its feed-in-tariffs. A huge wave of installations at the end of 2010 and the beginning of 2011, taking advantage of generous subsidies made the move absolutely necessary. Now.. one year on.. we are still seeing a wave of installations (estimates range from 7.5GW in 2011 to recently reported by Reuters 9GW), and once again the market is surprised by Italy taking on tariffs again.
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