| | December - January8E ERGYTech ReviewBy Karthee Madasamy, Founder and Managing Partner, MFV PartnersThere is clear evidence that EVs reduce the amount of carbon admitted into the atmosphere compared to gas-powered vehicles. However, how much of a reduction we can make at scale will be directly influenced by whether we can supply enough electricity and how that electricity is produced. For instance, a study by China's Tsinghua University in 2016 found that Chinese EVs, primarily charged by electricity sourced from coal plants, produced two to five times more particulate matter and chemicals than gas cars.So as electricity needs to skyrocket to five times current production levels to power all the electric vehicles rolling onto our future streets, we need to ensure the electricity we're charging them with is clean. And while new energy sources such as fusion show long-term promise in addressing this clean electricity demand, there's little doubt we need to optimize our use of more proven clean technologies such as solar, wind, and nuclear immediately. Here are three reasons why. Solar and Wind Are Adding the Most New Capacity at the Lowest CostMany have laughed off solar and wind power generation as a replacement for fossil fuels because energy reliance on sources that are available intermittently couldn't possibly scale. However, this year solar and wind power made up more A RENEWABLES AND NUCLEAR APPROACH TO MEET EV ELECTRICITY DEMANDSIN MY OPINIONthan 10% of all global electricity generation for the first time. Additionally, the latest data from the International Renewable Energy Agency illustrates that renewable energy is responsible for 81% of new electricity capacity.Not only are solar and wind proving that they can wean us off fossil fuel dependency for electricity generation, but it's also happening at declining costs. The cost of producing solar has been dramatically reduced over the past few decades from $8.50 per watt to less than $3 per watt today. Wind costs are also headed in the opposite direction of fossil fuels. In fact, according to the International Renewable Energy Agency (IRENA), of the solar, wind, and other renewable energy sources that came online in 2020, 62% were cheaper than the lowest-cost fossil fuel alternative. Karthee Madasamy
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