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According to a new report from the Institute of New Economic Thinking at the University of Oxford, previous estimates about how quickly the price of renewables will fall have consistently underestimated reality (We think they are pointing their fingers at the International Energy Agency here.)

Here’s the first few paragraphs of the report:

“Rapidly decarbonizing the global energy system is critical for addressing climate change, but concerns about costs have been a barrier to implementation. Most energy economy models have historically underestimated deployment rates for renewable energy technologies and overestimated their costs. The problems with these models have stimulated calls for better approaches and recent reports have made progress in this direction.

“Here we take a new approach based on probabilistic cost forecasting methods that made reliable predictions when they were empirically tested on more than 50 technologies. We use these methods to estimate future energy system costs and find that, compared to continuing with a fossil fuel based system, a rapid green energy transition will likely result in overall net savings of many trillions of dollars (emphasis added) — even without accounting for climate damages or co-benefits of climate policy.

“We show that if solar photovoltaics, wind, batteries and hydrogen electrolyzers continue to follow their current exponentially increasing deployment trends for another decade, we achieve a near-net-zero emissions energy system within twenty-five years. In contrast, a slower transition (which involves deployment growth trends that are lower than current rates) is more expensive and a nuclear driven transition is far more expensive.

“If non-energy sources of carbon emissions such as agriculture are brought under control, our analysis indicates that a rapid green energy transition would likely generate considerable economic savings while also meeting the 1.5 degrees Paris Agreement target.

“Future energy system costs will be determined by a combination of technologies that produce, store and distribute energy. Their costs and deployment will change with time due to innovation, economic competition, public policy, concerns about climate change and other factors.”

“It’s not just good news for renewables. It’s good news for the planet,” co-author Matthew Ives, a senior researcher at the Oxford Martin Post-Carbon Transition Program, tells ArsTechnica. “The energy transition is also going to save us money. We should be doing it anyway.”

“Our approach is based on two key design principles: 1) include only the minimal set of variables necessary to represent most of the global energy system, and the most important cost and production dynamics, and 2) ensure all assumptions and dynamics are technically realistic and closely tied to empirical evidence. This means that we focus on energy technologies that have been in commercial use for sufficient time to develop a reliable historical record.

“We choose a level of model granularity well suited to the probabilistic forecasting methods used, i.e. one that allows accurate model calibration, and ensures overall cost reduction trends associated with cumulative production are captured for each technology. Our model design can be run on a laptop, is easy to understand and interpret, and allows us to calibrate all components against historical data so that the model is firmly empirically grounded. The historical data does not exist to do this on a more granular level.”

Omitted Technologies

“Consistent with our two design principles, we have deliberately omitted several minor energy technologies. Co-generation of heat, traditional biomass, marine energy, solar thermal energy, and geothermal energy were omitted either due to insufficient historical data or because they have not exhibited significant historical cost improvements, or both.

“Liquid biofuels were also excluded because any significant expansion would have high environmental costs. Finally, carbon capture and storage in conjunction with fossil fuels was omitted because i) it is currently a very small, low growth sector, ii) it has exhibited no promising cost improvements so far in its 50 year history, and iii) the cost of fossil fuels provides a hard lower bound on the cost of providing energy via fossil fuels with CCS. This means that within a few decades, electricity produced with CCS will likely not be competitive even if CCS is free.” (emphasis added)

Massive Storage Capacity

“Since renewables are intermittent, storage is essential. In the Fast Transition scenario we have allocated so much storage capacity using batteries and P2X fuels that the entire global energy system could be run for a month without any sun or wind. This is a sensible choice because both batteries and electrolyzers have highly favorable trends for cost and production.

“From 1995 to 2018 the production of lithium ion batteries increased at 30% per year, while costs dropped at 12% per year, giving an experience curve comparable to that of solar PV. Currently, about 60% of the cost of electrolytic hydrogen is electricity, and hydrogen is around 80% of the cost of ammonia, so these automatically take advantage of the high progress rates for solar PV and wind.”

Final Energy

“To understand these scenarios it is important to distinguish final energy — which is the energy delivered for use in sectors of the economy — from useful energy, which is the portion of final energy used to perform energy services, such as heat, light and kinetic energy.

“Fossil fuels tend to have large conversion losses in comparison to electricity, which means that significantly more final energy needs to be produced to obtain a given amount of useful energy. Switching to energy carriers with higher conversion efficiencies (e.g. moving to electric vehicles) significantly reduces final energy consumption.

“Our Fast Transition scenario assumes that eventually almost all energy services originate with electricity generated by solar PV and wind, making and burning P2X fuels or using batteries when it is impractical to use renewables directly. The Fast Transition substantially increases the role of electricity in the energy system.”

The INET report focuses mainly on the process of technological advancement, which is part of what has made renewables cheaper. Renewables have routinely performed beyond the expectations of previous papers. “They’ve been getting these forecasts wrong for quite some time,” Ives said. “You can see we’ve consistently broken through those forecasts again and again.”

Rather than a plateau on renewable energy costs, Ives said the greater likelihood is that the prices will decrease slower once things like solar and wind end up dominating the market. At that point, technological advances may very well still happen, but they might not be rolled out as frequently as they are now. “It’s the deployment that slows it down,” Ives says.

Michael Taylor, senior analyst at IRENA, agrees. He tells ArsTechnica his organization found that the cost reduction drivers — improved technology, supply chains, scalability, and manufacturing processes — for solar and wind are likely to continue at least for the next 10 to 15 years. With regard to previous forecasts, he says, “I would expect they’re overly pessimistic.”

Unforeseen issues such as the global pandemic and supply chain woes could slow the decline in the cost of renewables, as well as other barriers such as oil and gas subsidies, public opinion, permitting, and political considerations. “Just on purely economic grounds, there are increasing benefits to consumers to be had by accelerating the roll out of renewable power generation,” Taylor says. “We encourage policymakers to look very seriously at trying to remove the barriers that currently exist.”

The Takeaway

The report from the Institute of New Economic Thinking is a breath of fresh air. In particular, it explodes all the tripe being trotted out by fossil fuel companies to justify the continued use of their products. Carbon Capture? Pure baloney, a chimera they can hide behind while the continue their relentless greenwashing campaigns.

INET envisions consumers saving trillions of dollars as renewable energy takes over from thermal generation. The bottom line is we must stop burning fossil fuels as soon as possible if we want to keep the Earth habitable for humans. This report comes just in time for the COP 26 climate conference in Glasgow. In a rational world, global leaders would seize upon it as justification for moving forward aggressively with favorable renewable energy policies.

That’s unlikely. Those political leaders are beholden to fossil fuel companies, so expect a lot of rending of garments and gnashing of teeth as they try to spin their way out of the obvious. The only thing we as renewable energy advocates can hope for is that the price of renewables will get so low that anyone with the acumen of kumquat will have to recognize the truth. Ultimately, those free market imperatives reactionaries are so fond of will drive a stake through the heart of their beloved fossil fuel industry. We can’t wait!

 

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Siemens slashes its worldwide EV charging workforce by 35%

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March 18, 2025

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Siemens slashes its worldwide EV charging workforce by 35%

Siemens EV charging
Photo: Siemens

Siemens announced today that it’s cutting around 6,000 jobs worldwide, and 450 of them will be in its EV charging business.

The German tech giant is laying off 450 employees in the EV charging business at Smart Infrastructure, with 250 of those layoffs taking place in Germany. Siemens announced the coming redundancies in September 2024. The cuts in the EV charging business, which employs more than 1,300 people, will be completed by the end of fiscal 2025.

The company is also laying off 5,600 employees in its factory automation business at Digital Industries, citing muted demand in key markets China and Germany.

Siemens cites the reasons for the EV charging business cuts as “strong price pressures and limited growth potential for low-power [Level 2] charging stations.” It says it will instead focus on DC fast-charging infrastructure depots and fleets and for “en route charging.”

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In April 2023, Siemens opened a factory outside of Dallas that manufactures commercial Level 2 chargers.

Going forward, the company says it intends to take a more regional approach to markets with different charging standards to be more efficient.

If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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Hyundai will give you a free ChargePoint home EV charger if you buy or lease these EVs

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March 18, 2025

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Hyundai will give you a free ChargePoint home EV charger if you buy or lease these EVs

Hyundai-free-charger-EVs

Buy or lease a new Hyundai EV, and you can get a free home charger or a $400 charging credit. Hyundai is offering a free ChargePoint Home Flex Level 2 EV charger with the purchase or lease of select EVs, including the new 2025 IONIQ 5 and IONIQ 6. Here’s how you can get yours.

Earlier this year, Hyundai extended the offer, initially introduced in 2023, to include the upgraded 2025 IONIQ 5.

The only issue was that it was only for the new IONIQ 5. Hyundai expanded the promo this week to include 2025 and 2024 model year IONIQ 5 and IONIQ 6s.

Starting now, if you purchase or lease any of the EVs listed above, Hyundai will give you a free ChargePoint Home Flex Level 2 charger. If you already have a home charger, you can opt for a $400 public charging credit.

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Like you charge your phone, Hyundai is making it just as easy for you to wake up with a fully charged vehicle every morning. After the purchase or lease date, you’ll have 60 days to select the home charger or public credit.

Hyundai-free-charger-EVs-IONIQ-5
2025 Hyundai IONIQ 5 Limited (Source: Hyundai)

The charger will be provided through the Hyundai Home Marketplace. After creating a profile (which you can do here), you will find a “Find Offer” button at the bottom of the page.

Once selected, it will give you instructions for installation. You can expect an email from Hyundai Home Electrum within about five business days with a coupon code.

Hyundai-2025-IONIQ-5-interior
2025 Hyundai IONIQ 5 Limited interior (Source: Hyundai)

You will also have access to Hyundai’s Home Energy Advisors, which can help guide you through the installation process.

If you choose the $400 public charging credit, you can use it directly through ChargePoint’s mobile app, where you can find charging stations and more.

2025 Hyundai IONIQ 5 Trim EV Powertrain Driving Range (miles) Starting Price* 
IONIQ 5 SE RWD Standard Range 168-horsepower rear motor 245 $42,500
IONIQ 5 SE RWD 225-horsepower rear motor 318 $46,550
IONIQ 5 SEL RWD 225-horsepower rear motor 318 $49,500
IONIQ 5 Limited RWD 225-horsepower rear motor 318 $54,200
IONIQ 5 SE Dual Motor AWD 320-horsepower dual motor 290 $50,050
IONIQ 5 SEL Dual Motor AWD 320-horsepower dual motor 290 $53,000
IONIQ 5 XRT Dual Motor  AWD 320 horsepower dual motor 259 $55,400
IONIQ 5 Limited Dual Motor AWD 320-horsepower dual motor 269 $58,100
2025 Hyundai IONIQ 5 prices and range by trim (*includes $1,475 destination fee)

The upgraded 2025 Hyundai IONIQ 5 now has up to 318 miles driving range, a new style inside and out, and it even has a NACS port for charging at Tesla Superchargers. It starts at $42,500, with monthly leases as low as $199.

Thinking about trying out Hyundai’s new EVs for yourself? We’ve got you covered. You can use our links below to find deals on the Hyundai IONIQ 5 and IONIQ 6 at a dealer near you.

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Jackery flash sale takes $2,500 off select units with extra savings + gift, Heybike Mars 2.0 hits $899 low, Autel EV charger, EGO, more

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March 18, 2025

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Jackery flash sale takes ,500 off select units with extra savings + gift, Heybike Mars 2.0 hits 9 low, Autel EV charger, EGO, more

Today’s Green Deals are headlined by Jackery’s Sustainable Power Flash Sale that is only running for a few days with up to $2,500 being taken off its power stations – there’s even some hangover St. Paddy’s Day extra savings and a free gift offer on select purchases. In a rare occurence directly from Jackery, we spotted the brand’s popular Explorer 100 Plus Portable Power Station dropping to $90, among other notable offers. Heybike has also switched to its Limited Spring Sale, with some short-term discounted bundle sale offers being led by the Mars 2.0 Fat Tire e-bike that is back down at its $899 low for the next few days. We also have Autel’s MaxiCharger AC Lite Home Level 2 EV Charger down at a limited-supply $455 Amazon low, as well as EGO’s Nexus Escape 400W Inverter Kit that helps you get more usage out of your batteries, returning to its $249 low. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s Anker SOLIX Spring Sale offers, Tenways’ $895 in e-bike savings, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Jackery’s Explorer 100 Plus 99Wh power station hits $90 in flash sale + bonus savings and free gear on other units

Jackery is having a Sustainable Power Flash Sale through March 19 with up to $2,500 in discounts on a selection of power stations and solar generators for your spring adventures, with some bonus St. Paddy’s Day savings on the brand’s Explorer 5000 series of offers. Among what we’re seeing, we spied the popular Explorer 100 Plus Portable Power Station down at $89.99 shipped. Usually going for $149 most of the time, since Black Friday we’ve been seeing more frequent falls to its $89 low, normally as individual Amazon deals over any inclusion in these direct sales. Today’s deal is a 39% markdown that saves you $59 off the going rate, giving you the chance to grab it here at the second-lowest price we have tracked – only $1 above the lowest rate. For once, it’s even beating out Amazon, where it’s only discounted to $109 right now.

***Note: While there are no extra sitewide savings during Jackery’s Sustainable Power Flash Sale, we are seeing Jackery offer up St. Paddy’s Day extra savings through March 19 when you purchase any of its modular Explorer 5000 series units. You’ll score 15% off either the Explorer 5000 power station or its bundle options by using the code GREEN15 at checkout, as well as getting a FREE Explorer 100 Plus that will be automatically added to your cart.

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Jackery’s palm-sized, two-pound Explorer 100 Plus power station is the brand’s compact, airline-approved backup solution that beats out most popular sizes of power banks on top of offering solar charging capabilities. It provides you with a 99Wh (31,000mAh) LiFePO4 capacity with up to 128W of output through its dual USB-C and single USB-A ports. By plugging it into a wall outlet, you’ll regain 70% of the battery in about an hour, with a full battery taking a bit longer at up to two hours. As I mentioned, there are solar charging capabilities here, with a maximum 100W solar input giving you a full charge in around two hours – plus, you could also connect it to your car’s auxiliary port to regain a full charge in three hours time.

Jackery’s Sustainable Power Sale home and outdoor deals:

Jackery’s Sustainable Power Sale accessory deals:

You can check out the full lineup of deals for Jackery’s Sustainable Power Flash Sale on the landing page here.

Heybike Mars 2.0 Fat Tire e-bike

Heybike’s Mars 2.0 folding fat tire e-bike with free gear returns to $899 low in limited spring savings

Following in the footsteps of its previous flash sales, Heybike is offering a Limited Spring Sale on a selection of e-bikes, with the next few days giving folks another chance to score the Mars 2.0 Folding Fat Tire e-bike at $899 shipped through March 21. Coming down off its $1,499 price tag, we see this model prominently featured in most of the brand’s sales, often dropping to either $1,099 or lower to $999, though occasionally we do see it go lower to $899, like today. You’ll be benefitting from a $600 markdown, returning it to the all-time lowest price we have tracked just in time to secure it for your upcoming spring adventures. You’ll even get a free large cargo basket with your purchase. Head below for more details and to check out the other models benefitting from the savings.

While it doesn’t sport any fancy bells and whistles like higher-end models on the market, Heybike’s Mars 2.0 gives you some solid performance and features for such a budget-friendly price – especially this low. It arrives ready to support you through your commute with a removable 600Wh battery for up to 45 miles on a single charge with its five PAS levels, providing you with top speeds of 28 MPH. That’s with the standard’s 750W motor, which you can upgrade to a 1,000W model for $200 more, bumping your maximum speed up to 32 MPH while also providing more power for inclines, increased load capacity, and more.

Its folding frame will certainly be a blessing to folks with limited storage space, and you won’t have to worry about being caught with a flat on the two 4-inch puncture-resistant fat tires (each with fenders). There’s also the Shimano 7-speed derailleur, integrated cargo rack, an LED headlight and taillight, and LED display – plus, if you upgrade to the 1,000W motor, you’ll also have the brakes upgraded to hydraulic disc brakes to ensure stopping power at those higher speeds.

Heybike’s Limited Spring Sale offers:

  • Ranger S Folding Fat Tire e-bike: $1,099 (Reg. $1,499)
    • 28 MPH for up to 55 miles
    • Can upgrade to 1,000W motor for $200 more
    • Comes with free front basket and large basket
  • Cityrun Urban Commuter e-bike: $1,099 (Reg. $1,599)
    • 21 MPH for up to 55 miles
    • Comes with free front basket and large basket
  • Horizon Full-Suspension e-bike: $1,399 (Reg. $1,999)
    • 28 MPH for 55 miles
    • Comes with free front basket and large basket
  • Brawn Off-Road e-bike: $1,499 (Reg. $1,799)
    • 28 MPH for 65 miles
    • Comes with free large basket
  • ALPHA Mid-Drive All-Terrain e-bike (new model): $1,599 (Reg. $1,699)
    • 28 MPH for up to 60 miles
Autel MaxiCharger AC Lite EV charger

Autel’s MaxiCharger AC Lite level 2 EV charger gets limited-supply discount to $455 Amazon low

Amazon is offering a Lightning Deal on the Autel MaxiCharger AC Lite Home Level 2 EV Charger for $455.20 shipped while supplies last. Coming down off its usual $569 MSRP, we’ve been seeing frequent Lightning savings like today over the last year, along with some longer-lasting discounts too, often dropping costs to the same rate. Taking advantage of the limited savings here nets you $114 to go back in your pocket while you score it at the lowest price we have tracked on Amazon. At the time of writing this, 6% of the available units have been claimed. Head below for more.

Autel’s 240V MaxiCharger AC Lite arrives as an affordable alternative for non-Tesla drivers, compatible with any EV that takes a J1772 connector. It provides you up to 50A charging speeds once installed, averaging at around 37 miles for every hour your EV is hooked up (and assuming you’re setting it to the maximum output), with smart controls for monitoring and setting adjustments available through your smartphone. Built to stand against year-round elements, it sports a 25-foot cable that will continue to function in as low as -40 degrees, with Autel rating it to withstand “snow, rain, hail, and sleet.”

EGO Power+ Nexus Escape 400W Inverter Kit

Get more use out of your EGO batteries with the Nexus Escape 400W 3-Port Inverter Kit at a $249 low

Amazon is offering the third-ever savings hitting the EGO Power+ Nexus Escape 400W Inverter Kit with a 4.0Ah battery and a charger for $249 shipped, after clipping the on-page $50 off coupon. Normally this model carries a $300 price tag, which we saw the previous discount bring down only by $1 back in January. At the end of February we saw this same additional $50 off discount pop up, disappearing for a short time before being brought back today. You’re looking at a $51 markdown here, which returns costs to the all-time lowest we’ve seen.

Perfect for anyone who has collected a solid arsenal of EGO tools, this Nexus Escape inverter provides you with the means to get more out of your acquired batteries – beyond simply powering the brand’s equipment. Not only can you use the included 100W charger to refill your 56V EGO brand ARC batteries by connecting it to the inverter, but you’ll also be able to power up to three devices simultaneously through the two USB-C ports and one USB-A port. It delivers up to 400W of continuous power normally, peaking at 800W for anything needing the boost. You’ll even be getting a 4.0AH battery along with this kit, in case you’re just starting your investments into one of the top electric tool brands on the market.

We’ve got quite of few deals on EGO’s lineup of tools at the moment, like the 56V 21-inch Cordless Self-Propelled model that comes with two 6.0Ah batteries for a 100-minute runtime still sitting at its new $700 low, or there are also the brand’s T6 riding tractor or Z6 zero-turn riding mowers that are down at their lowest rates – up to $1,500 off and starting from $3,499.

Best New Year EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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