The electrification of energy: Long-term trends and opportunities. (5th June 2018)

• Record Type: Journal Article
• Authors: Tsao, Jeffrey Y.; Schubert, E. Fred; Fouquet, Roger; Lave, Matthew
• Is Part Of: MRS energy & sustainability. Volume 5(2018)
• Publication Date: 2018-06-05
• Subjects: energy generation, -- energy storage, -- environment, -- fossil fuel, -- government policy and funding; Materials -- Environmental aspects -- Periodicals; Energy development -- Environmental aspects -- Periodicals; Sustainable engineering -- Periodicals; Green technology -- Periodicals; 620.11
• DOI: 10.1557/mre.2018.6
• Languages: English
• ISSNs: 2329-2229

Abstract

ABSTRACT: Abstract : We present and analyze three powerful long-term historical trends in the electrification of energy by free-fuel sources. These trends point toward a future in which energy is affordable, abundant, and efficiently deployed; with major economic, geo-political, and environmental benefits to humanity. We present and analyze three powerful long-term historical trends in energy, particularly electrical energy, as well as the opportunities and challenges associated with these trends. The first trend is from a world containing a diversity of energy currencies to one whose predominant currency is electricity, driven by electricity's transportability, exchangeability, and steadily decreasing cost. The second trend is from electricity generated from a diversity of sources to electricity generated predominantly by free-fuel sources, driven by their steadily decreasing cost and long-term abundance. These trends necessitate a just-emerging third trend: from a grid in which electricity is transported unidirectionally, traded at near-static prices, and consumed under direct human control; to a grid in which electricity is transported bidirectionally, traded at dynamic prices, and consumed under human-tailored artificial agential control. These trends point toward a future in which energy is not costly, scarce, or inefficiently deployed but instead is affordable, abundant, and efficiently deployed; with major economic, geo-political, and environmental benefits to humanity.