37. Energy Transition –The Wright Thing
Energy Transition –The Wright Thing As usual, there’s bad news and there’s good news. The bad news is, there is no Moore’s Law for carbon-free energy production. The good news is, there IS a Wright’s Law for carbon-free energy production! A recent study points out that traditional economic models have consistently over-estimated the cost of renewables over time, and that a transition to carbon free energy will happen with a net positive impact on the economy. Some of our tech-savvy readers may have heard of Moore’s Law. This is a phenomenon in the progress of computer development where the number of transistors on a microchip doubles roughly every two years, thus doubling their computation ability - so the cost to do the same computation gets halved.This law has held true since the late 1960s when it was predicted by Gordon Moore, one of the founders of Intel Corporation. Since then, computing power has doubled about 23 times, a 10 million-fold increase. Your typical smartphone i...