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Rina8888 [55]
2 years ago
11

Batteries, Offshore Wind Lead Clean Energy Cost Cuts As Renewables by Mike Scott Batteries, Offshore Wind Lead Clean Energy Cost

Cuts As Renewables Continue To Undercut Coal And Gas Batteries can store energy from solar or wind farms for use when the wind is not blowing or the sun is not shining. The transition to a low-carbon energy system is a few steps closer after two technologies that were immature and hugely expensive only a few years ago saw spectacular gains in cost-competitiveness in the last year. New research from Bloomberg NEF (BNEF) shows that the cost of lithium-ion batteries has fallen by 35% over the past year to $187/MWh, while the cost of offshore wind is almost a quarter (24%) lower than this time 12 months ago.
Meanwhile, the costs of installing the more established technologies of onshore wind and photovoltaic (PV) solar also continued to fall. The levelized cost of energy for onshore wind projects starting construction at the start of this year was $50/MWh, 10% lower than a year ago, while solar projects are 18% cheaper at 57/MWh.
Elena Giannakopoulou, head of energy economics at BNEF, commented: "Looking back over this decade, there have been staggering improvements in the cost-competitiveness of these low-carbon options, thanks to technology innovation, economies of scale, stiff price competition and manufacturing experience.
"Our analysis shows that the LCOE per megawatt-hour for onshore wind, solar PV and offshore wind have fallen by 49%, 84% and 56% respectively since jobs that coal-and gas-fired power stations and nuclear, currently do.
Battery energy storage co-located with solar and wind farms are starting to be competitive with coal and gas power, even without subsidies, in providing "dispatchable power" that can be delivered when it is needed, rather than only at the time it is being generated when the wind is blowing or the sun is shining. Battery storage can provide back-up power for renewable projects for anything from one to four hours at a time, BNEF says. Tifenn Brandily, energy economics analyst at BNEF, said: "Solar PV and onshore wind have won the race to be the cheapest sources of new 'bulk generation' in most countries, but the encroachment of clean technologies is now going well beyond that, threatening the balancing role that gas-fired plant operators, in particular, have been hoping to play." The advance of offshore wind is also hugely significant, because the technology has long been seen as an expensive generation option in the near term compared to onshore wind or solar PV, although it was hoped that in time the possibility of using bigger turbines and floating platforms, coupled with the stronger and steadier winds at sea would lead to sharp cost reductions. But those costs have come down much more quickly than forecast thanks to technological advances, larger turbines and auction programs for new capacity - offshore wind is now below $100/MWh globally, with some European projects coming in well below that, compared to more than $220 just five years ago. Siemens Gamesa has just announced its 10MW turbines will be used in the world's first subsidy-free offshore wind project, Vattenfall's Hollandse Kust Zuid 1 & 2 scheme. "The low prices promised by offshore wind tenders throughout Europe are now materializing, with several high-profile projects reaching financial close in recent months. Its cost decline in the last six months is the sharpest we have seen for any technology,"Giannakopoulou said.
What type of cost are batteries for the renewable-energy industry?
A. explicit cost.
B. variable cost.
C. implicit cost.
D. fixed cost.
E. marginal cost.
Business
1 answer:
Inessa [10]2 years ago
6 0

Answer: A. Explicit cost.

D. Fixed cost

Explanation:

The type of cost which batteries are for the renewable-energy industry is explicit cost and fixed cost. Explicit costs refers to the business costs which appear in the general ledger. It should be noted that they've direct impact on the company's profit. Examples include utilities, raw materials, salaries, lease payments, etc.

When running a business, explicit cost is the direct payment that's made to others, such as rent, wage and materials. Batteries are an explicit cost as they're incurrIn the industry of renewable energy, batteries are used to save the energy produced and thus the cost of batteries are incurred in the daily production. Hence, it is an explicit cost since it's incurred for daily production.

Fixed costs are those costs that doesn't vary with the production level. Since the energy produced has to be stored in batteries, then it is a fixed cost as it doesn't vary with the production level.

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Suppose that actual inflation is 3 percent, the Fed's inflation target is 2 percentage points, and unemployment rate is 3 percen
Dahasolnce [82]

The government would set its targeted interest at 6.5%

Based on the Taylor's rule

R = π + A + 0.5(A-A*) + 0.5

This is the formula that helps to get the output gap

<u>Definition of terms</u>

R is the nominal federal funds rate

π is the real rate of federal funds = 2%

A is the rate of inflation

A* is the target of of inflation = 2%

Rate of unemployment = 3%

The government has a target of full employment that is at 4 percent.

When we enter the values into the formula

R = 2% + 3% + 0.5(3%-2%) + 0.5%(2%)

= 5% + 0.5% + 1%

= 6.5%

Therefore the government would set its targeted interest at 6.5%

Read more on brainly.com/question/14466278?referrer=searchResults

5 0
2 years ago
Mara is a management consultant for a soda manufacturer that wants to expand into health drinks such as green tea and after-work
kirill115 [55]

Answer:

B. "Carefully consider the entry choices over time before making a decision."

Explanation:

Since Mara company specializes in manufacturing sodas, venturing into health drinks is risky and therefore would need a lot of planning, thorough analysis of the target market . Looking into whether there's sufficient demand for it and forecasting future trends with regards to health drinks is also important . Mara should therefore, test venture into this by testing the market and considering entry choices over time before making a decision.

6 0
3 years ago
What does it mean to do time analysis which is one of the principles referred to ?
Whitepunk [10]
Data Analysis - Process. Data Analysis is a process of collecting, transforming, cleaning, and modeling data with the goal of discovering the required information. The results so obtained are communicated, suggesting conclusions, and supporting decision-making.
3 0
3 years ago
Wilma, Betty, and Fred are partners who share income and losses in a 5:3:2 ratio. Wilma decides to retire from the partnership w
Hoochie [10]

Answer:

<u>debited</u>

Explanation:

Partnership refers to a mutual agreement wherein two or more individuals agree carry out a business and to share profits and losses in a specified ratio or as per the clauses of the partnership deed.

When partners retire, the balances standing to the credit of their capital accounts needs to be settled or paid off.

As per the given information, Wilma is paid $45000 in cash. The journal entry in this case would be:

Wilma's Capital A/C                                    Dr.  $45000

    To Cash A/C                                                                $45000

For the remaining balance, Wilma shall be paid in cash as follows,

Wilma's Capital A/C                                    Dr. $5000

     To Cash A/c                                                            $5000

(Being settlement of a retiring partner's capital account being recorded)

3 0
3 years ago
Bigham Corporation, an accrual basis calendar year taxpayer, sells its services under 12-month and 24-month contracts. The corpo
Gnesinka [82]

Answer: 2016= $13,000; 2017= $25,000

Explanation:

for 2016

Income to be recognised in 2016 for 12 months term=  Total proceeds x  period of service provided (july -december )/ Total contract term

Income to be recognised in 2016= 14,000 x 6months /12months

= 14,000 x 1/2= $7,000

Income to be recognised in 2016  for 24 months term= Total proceeds x  period of service provided (july -december )/ Total contract term

Income to be recognised in 2016= 24,000 x 6months /24months

= 24,000 x 1/4= $6,000

income to be recognized in taxable income in 2016= $7,000 + $6,000= $13,000

for 2017

Income to be recognised in 2017 for 12 months contract term=  Total proceeds x   remaining period of service provided from jan. to june 2017 / Total contract term

Income to be recognised in 2017= 14,000 x 6months /12months

= 14,000 x 1/2= $7,000

Income to be recognised in 2017 for 24 months contract term=  Total proceeds x   remaining period of service provided  fromjuly 2016 -dec 2017/ Total contract term

Income to be recognised in 2016= 24,000 x (24-6) 18months /24months

= 24,000 x 3/4= $18,000

income to be recognized in taxable income in 2017= $7,000 + $18,000= $25,000

7 0
3 years ago
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