Skip to main content

LNG vs solar power

Published by
LNG Industry,


While the energy mix in many countries is shifting towards low-carbon fuels, about 3600 island nations continue to rely on imported oil for power generation. Historically, oil-fired power generation was the most economic way of providing reliable electricity to remote communities.

A new report from Wood Mackenzie and sister company GTM Research, ‘LNG versus Solar: What is the best option for island power markets’, shows the economics of power generation is changing. Our research finds that by 2025, a range of solar, storage and hybrid alternatives will have a lower levelised cost of energy (LCOE) than oil.

Tom Heggarty, senior analyst in global solar markets at GTM Research and co-author of the report, said: “We think there’s an opportunity for island markets to take a lead in transitioning to a low-carbon supply.”

The report assessed the economics of several lifetime scenarios, including existing standalone LNG, solar and diesel; a solar and LNG hybrid; solar with lithium-ion storage and diesel; solar with lithium-ion storage and LNG; and solar with a lithium-ion battery. The projections included construction costs for infrastructure.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/25102017/lng-vs-solar-power/

You might also like

Kabel Schlepp

WEBINAR - Key criteria to ensure proper selection of a cable drag chain

In this webinar KabelSchlepp will review and discuss the items needed to ensure that a cable track is properly selected and sized for the user’s application. How diameters and weights of the fill package effect cable track selection and how the jacket material of the fill package influences the cable track design. Register for free today »

 
 
 

Embed article link: (copy the HTML code below):