Some believe that we can eventually run the whole economy on renewables alone (usually wind and solar), while others dismiss this as delusional.
In practice, some combination of energy efficiency, renewables+storage, nuclear and carbon capture and storage (CCS) may well be more cost effective and robust than any one solution. The latest edition of the OECD Projected Costs of Electricity study1 rightly states “There is no single technology that can be said to be the cheapest under all circumstances”. System costs, market structure, policy environment and resource endowment all continue to play an important role in determining the overall value to the system of an incremental investment in generation.
Read the full briefing by downloading the pdf attached.