The Economic Competitiveness of Renewable Energy A Rules of Thumb Approach for Scientists, Engineers, and Policy Makers

Provides a comprehensive picture of today’s energy world, describes the potential for energy savings that can be achieved, and analyzes the technology developments which will lead to a 100% renewable energy-powered world

The world is at the crossroads of either quickly changing the energy picture towards implementing efficient renewable energy sources or postponing this process by another generation. Based on the author’s more than 30 years’ industrial experience, this book gives a set of assumptions by extrapolating known technology developments and shows that 100% coverage by renewable technology of global energy needs is much more probable than previously argued.

Basic facts using "rule of thumb" and "order-of-magnitude" considerations underpin the author’s argument. The book shows how energy efficiency technologies will be able to drastically reduce the energy consumption for the same quality of life. The most relevant renewable energy technologies are discussed. Solar photovoltaic, solar thermal concentrators, solar thermal wind, as well as biomass and biofuels, hydro, geothermal, wave, and tidal technologies are debated.

The conclusion of this unique book shows how and why the renewable technologies will be cost competitive and even superior to the traditional technologies in the mid-term. Market-pull instead of technology-push provide the increase of the cumulative installed volume of the new renewable technologies, thereby driving down the specific price of the critical components along Price Experience Curves.

Winfried Hoffmann obtained his PhD in biophysics in 1977. From 1997 until 2014 he was a member of the Board of EPIA (European PV Industry Association) and President for more than eight years. He is a member of the Scientific Board of the Fraunhofer Institute for Solar Energy and the NEXT Institute in Oldenburg, as well as a member of the Supervisory Board of the Institute for Solar Energy Research in Hameln and the Helmholtz Centre Berlin. He acts as Chairman of the Supervisory Board of Solarfabrik AG and is a member of the Supervisory Board of SMA Solar Technology AG. In 2012 he received the “European Becquerel Prize for Outstanding Merits in PV” from the European Commission.