energy budget 2014-2064

By: Ian Mongold and Terius Grandison

Energy Budget 2014-2064

• Wind - energy of the future• Solar - energy of the future• Hydrogen - fund research for the future• Geothermal - in limited areas where outlook is high

Energies to Embrace for the Future

• All Fossil Fuels and other Nonrenewable• Natural Gas will help bridge the gap between the

transition from fossil fuels to green renewable energies

• As Nuclear power is phased out the budget will still be roughly the same due to the fact that deconditioning.

Energies to Phase out in the Future

22%

23%40%

8%7%

CoalNatural GasOilNuclearRenewables

Wind• Main point of wind is

its always available • Possibility for a high

net energy gain• Wind farms could

supply a large amount of the energy needed in the U.S.

• Net energy is yield is moderate to high depending on type and weather conditions

• Cost are moderate • To help bring cost down

subsidies can be given • Low land disturbance • Photovoltaic cells can be

mounted on rooftops and walls to further reduce land disturbance

Solar

• The process of getting pure hydrogen has zero emissions as long as fossil fuels are not the source of the hydrogen or the electricity used to split water molecules is no derived from fossil fuels

• Possibilities for high efficiency in fuel cells (45%-65%)

• Expensive therefore, subsidies and further research is needed to help bring cost down

• New infrastructure is needed to support hydrogen

Hydrogen

• Is efficient in accessible areas

• Geothermal emits little CO2 compared to the traditional fossil fuels

• Low cost at favorable sites

• Can be expensive

Geothermal

2014 ($28,415,657) Current Budget

22%

23%40

%

8%7%

Coal Natural GasOilNuclearRenewable

2018 ($31,809,056)

21.20%

23.80%38.8

0%

7.80%

8.40%Coal Natural GasOilNuclearRe-new-able

2022 ($31,834,056)

20.40%

24.60%37.60

%

7.60%

9.80%Coal Natural GasOilNuclearRe-new-able

2026 ($31,859,056)

19.60%

25.40%36.4

0%

7.40%

11.20%Coal Natural GasOilNuclearRenewable

2030 ($31,884,056)18.80%

26.20%

35.20%

7.20%

12.60%

Coal Natural GasOilNuclearRe-new-able

2034 ($31,909,056)

18%

27%

34%

7%

14% Coal

Natural GasOilNuclearRenewable

2038 ($31,934,056)17.20

%

27.80%

32.80%

6.80%

15.40% Coal

Natural GasOilNuclearRe-new-able

2042 ($31,959,056)16.40

%

28.60%

31.60%

6.60%

16.80%

Coal Natural GasOilNuclearRenewable

2046 ($31,984,056)

15.60%

29.40%

30.40%

6.40%

18.20%

Coal Natural GasOilNuclearRenewable

2050 ($32,009,056)

14.80%

30.20%

29.20%

6.20%

19.60%

Coal

Natural Gas

Oil

Nuclear

Renewable

2054 ($31,999,056)14%

31%

28%

6%

21% Coal

Natural GasOilNuclearRe-new-able

2058 ($31,989,056)

10.00%

32.33%

26.00%

5.83%

25.83%

Coal Natural GasOilNuclearRe-new-able

2062 ($31,979,056)

6.00%

33.33%

24.00%

5.67%

30.67%

Coal Natural GasOilNuclearRe-new-able

2064 ($31,969,056)

2%

35%

22%6%

36%

Coal

Natural Gas

Oil

Nuclear

Re-new-able

Energy ChartCoal Natural Gas Oil Nuclear Renewable

2014 22% 23% 40% 8% 7%

2018 21.20% 23.80% 38.80% 7.80% 8.40%

2022 20.40% 24.60% 37.60% 7.60% 9.80%

2026 19.60% 25.40% 36.40% 7.40% 11.20%

2030 18.80% 26.20% 35.20% 7.20% 12.60%

2034 18% 27% 34% 7% 14%

2038 17.20% 27.80% 32.80% 6.80% 15.40%

2042 16.40% 28.60% 31.60% 6.60% 16.80%

2046 15.60% 29.40% 30.40% 6.40% 18.20%

2050 14.80% 30.20% 29.20% 6.20% 19.60%

2054 14% 31% 28% 6% 21%

2058 10% 32.33% 26% 5.83% 25.83%

2062 6% 33.33% 24% 5.67% 30.67%

2064 2% 35% 22% 5.50% 35.50%

• Subsides will be cut at a very low rate from the production of corn to produce ethanol

• The subsidies will be rerouted to tax breaks for companies and individuals who invest in wind, solar and geothermal.

• Incentives also in the form of tax breaks will be given to solar and wind companies who want to open factories here in the U.S.

Subsidies

• Natural gas will begin to be phased out as oil is also slowly being phased out

• Renewable energy percentage will continue to grow and as those energies are successful a broader range of green energies will be implemented

• Nuclear Power Plants will be continuing to be decommissioned

The next 50 Years