Reversing the fuel-electricity system provides for complete fossil fuel replacement and a stable grid
Book chapter, 2024
As the total cost of renewable electricity falls lower than the price of fossil fuel, electricity can not only be used to replace fossil fuels using batteries in vehicles; electricity can be used to produce fuels. This makes it possible to replace fuels in sectors not easily directly electrified. It also provides new ways of balancing the electricity system. When renewable electricity is cheap a lot of fuel can be produced (electro-fuels). When electricity gets more expensive than fuels, fuel production will stop. In rare, extrem situations, such fuels may even be used to produce electricity.
renewable electricity
fossil fuel substitution
variable electricity production
hydrogen
Renewable Energy
batteries
expensive fossil fuels
learning curves
electro-fuels
Author
Tomas Kåberger
Chalmers, Technology Management and Economics, Environmental Systems Analysis
The Oxford Handbook on the Greening of Economic Development
9780198883487 (ISBN)
Driving Forces
Sustainable development
Innovation and entrepreneurship
Areas of Advance
Energy
Subject Categories (SSIF 2011)
Economics and Business
Electrical Engineering, Electronic Engineering, Information Engineering
DOI
10.1093/oxfordhb/9780198883487.013.9