Renewable
Energy Sources: The Alternative
SRI
Consulting releases global reports on renewable energy
materials
MENLO
PARK, CA. February 13, 2007— Predictions that
fossil fuels will be stressed to their capacities by
2050 have escalated research and investments in alternative
energy sources. Coupled with increasing interest from
consumers and politicians on conservation and demands
for energy from emerging economies, the alternative energy
industry is poised for growth. SRI Consulting (SRIC)
has released two new reports, Raw
Materials for Biofuels and Materials
and Chemicals for New Energy Generation that
provide comprehensive and current information on the
contribution and cost of renewable energy sources. Each
of these new reports provides valuable insight on energy
materials and trends to prepare the chemical and energy
industries and related stakeholders for new opportunities
as well as for potential threats to their businesses.
Bob
Davenport, Director of SRI Consulting’s
Safe & Sustainable Chemicals group and author of Raw
Materials for Biofuels commented, “The
high cost of fossil fuels and the trend to decrease greenhouse
gases are driving changes in energy paradigms. As
the components of energy generation change, there will
be opportunities for new raw materials.”
Mr. Davenport
added, “SRIC recently reported that the global biodiesel
capacity exceeds the demand anticipated in the next 5-10
years. Nonetheless, we expect biodiesel will steadily increase
as a percentage of total energy required. The regional
land resources will impact biofuel feedstock options. In
some areas, there will be limitations in land and growing
conditions. In those areas, deficits will need to
be supplied by imports or other renewable energy sources.”
The Materials
and Chemicals for New Energy Generation report
focuses primarily on solar and wind electrical energy
and how these renewable sources could be used to conserve
fossil fuels. The report identifies new materials that
would be in demand with increasing use of these technologies.
Today, solar and wind energy, two of many emerging
sources of renewable energy, are essentially small
businesses limited to regional or consumer applications.
Currently, 7% of the total demand for electrical energy
is generated by renewable sources. Over the next couple
of decades, renewable sources will grow but still be
small portions of the total energy supply.
T.
Adrian Gaitan, SRIC Consultant and author of Materials
and Chemicals for New Energy Generation said, “The
main issue retarding adoption of renewable sources for
electricity is production cost. Fossil fuels generate
electricity at significantly lower costs. For example,
fossil fuel production costs are about $25/MWh and are
expected to remain flat until 2010. Estimates for solar
production in 2010 are expected to be ten times higher,
about $250/MWh. Wind power generation of electricity
is less expensive than solar. However, 2010 estimates
for wind power are still four times higher than fossil
fuel production amounting to about $100/MWh.”
Mr. Gaitan
added, “Due to the cost disadvantages, government
and utility company incentives to increase consumer demand,
along with technology advances, are essential for more
widespread use of all renewable sources for electrical
energy.”
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