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Solar Energy Advances 2 (2022) 100014

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Solar Energy Advances


journal homepage: www.elsevier.com/locate/seja

Update 2022 – A fundamental look at supply side energy reserves for the
planet
Marc Perez a, Richard Perez b,∗
a
Clean Power Research, 1541 3rd Street, Napa, CA 94559, USA
b
Atmospheric Sciences Research Center, University at Albany, 1400 Washington Avenue, Albany, NY 12222, USA

a r t i c l e i n f o a b s t r a c t

Key words: Energy on our planet is central to the functioning of our ecosystem and modern human society. This work at-
High penetration renewables tempts to put the various renewable and non-renewable energy sources at our disposition into context with extant
Energy resources and future human energy consumption. The 79,000 TWyr of solar energy hitting the earth’s surface annually con-
Energy reserves
stitutes the largest readily accessible energetic resource available on earth and the source from which most other
(notably fossil) available energy sources are derived. Using the lens of reasonably assured recoverable reserves,
we compare the percentage of this solar energy that can be converted to useable energy (electricity) to the poten-
tial of other renewable (wind, hydroelectric, geothermal, ocean thermal, waves, tides, biomass) and conventional
reserves (coal, oil, gas, nuclear) and primary demand. We find that solar photovoltaics are capable of meeting
100% of extant global primary energy demand more than 12x over, wind 2x over even after reasonable con-
straints posed by land use and conversion efficiency. Under a fully electrified future scenario, solar power could
meet global energy demand 27x over, and wind 5x over.

Introduction ventional finite resources, it is a function of the total resource of a given


energy source, but also, and more importantly, the percentage of this
This article is an update on two previous evaluations produced for resource that has been identified and can be economically extracted
the IEA Solar Heating and Cooling Program in 2009 and 2015 respec- today – itself depending heavily on the technologies at hand to do
tively [1,2]. so.
Fig. 1 recalls the results presented in the latter, 2015, evaluation For renewable resources, we extend the definition of ‘reasonable re-
whereby the volume of each sphere is proportional to energy reserves coverable reserves’ to the amount that could reasonably be produced
and consumption. This simple graphical representation directly conveys given acceptable land occupation and conversion efficiency constraints.
the vast potential of the solar resource [3] compared to other renewable We extend the time frame over which renewables are assessed from a
resources [4–12], fossil energy reserves [13,14] and nuclear reserves one year to a 30-year lifecycle yield, a measure that is more consis-
[15–22]. tent with the long-term reserve numbers used for conventional finite
Applying the same intuitive infographic template as in our pre- resources (30 years represent a commonly used cycle for economic as-
vious publications, this article attempts to provide a more effective sessments and planning.)
resource comparison context by placing the focus on and quantify- All energy reserves and consumption are reported in Terawatt-years
ing reasonably exploitable reserves within an economic lifecycle time (TWyr) – see appendix for conversion to other commonly reported en-
horizon. We aim at reaching an audience of policy and industry de- ergy units. Given the 30-year time frame considered for renewables and
cision makers at all levels by succinctly presenting and contrasting consumption we will refer to TWyr over 30 years as TWyr30 .
the potential of energy options available to the planet without the
filter of sometimes incomplete, out-of-context, and often conflicting
information. Results
Key to this context is the metric selected to quantify the sources of
energy: their Reasonably Assured Recoverable Reserves (RARs) [23]. The Fig. 2 present the new RAR estimates. We discuss each element of
RARs represent the amount of energy that can be reasonably extracted the figure, starting with demand-side consumption, and following with
at present given current technical and economic conditions. For con- all the supply-side finite, and renewable sources.


Corresponding Author
E-mail address: rperez@albany.edu (R. Perez).

https://doi.org/10.1016/j.seja.2022.100014
Received 20 December 2021; Received in revised form 14 March 2022; Accepted 15 March 2022
Available online 16 March 2022
2667-1131/© 2022 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license
(http://creativecommons.org/licenses/by-nc-nd/4.0/)
M. Perez and R. Perez Solar Energy Advances 2 (2022) 100014

Fig. 1. 2015 estimated finite and renewable planetary energy reserves (Terawatt-years) [2]. Annual yield is shown for the renewable resources [3–12]. Total
recoverable reserves are shown for the finite resources [13–22]. Yearly potential is shown for the renewables (the volume of each sphere is proportional to the
corresponding reserve).

World energy consumption Petroleum energy reserves (340 TWyr)

The International Energy Agency [24] reports that, after a COVID19- Following a sizeable increase of reported reserves between our 2009
induced slump of 4% in 2020, the world’s total final energy consump- and 2015 estimates – 250 to 335 TWyr, with much of the gain coming
tion (TFEC) has fully recovered and is set to exceed its 2019 peak by from large offshore discoveries in South America – petroleum RARs have
0.5%. Depending on the reference, estimates for 2021 global annual leveled and now stand at 340 TWyr [25] in part thanks to declining spot
TFEC ranges from 18.53 TWyr [25,26] to 20.13 TWyr [27]. The IEA esti- price for the commodity.
mates a middle-range value of 19.11 TWyr that we have retained for this
article. Projecting expected [business as usual] 40–50% TFEC growth Natural gas energy reserves (220 TWyr)
over the next 30 years [24,28,29], cumulative energy consumption over
the period should amount to 660 TWyr30 . In Fig. 3, we plotted the Natural gas RARs have remained steady, increasing by less than 5%
evolution of world primary energy demand spanning our three source since our first evaluation. They currently stand at nearly 190 trillion m3
publications. [25], with an estimated 220 TWyr1 energy content.

Finite sources of energy Nuclear energy reserves (170 TWyr)

Coal energy reserves (1010 TWy) Uranium RARs have been reassessed downward since our 2015 eval-
uation from 185 TWyr down to 170 TWyr. The chief reason for this is
The reported coal RARs have evolved from 900 TWyr in 2009, down the resource’s exploitation price point. Indeed, uranium exploitation is
to 830 in 2015, back up to the nearly 1,010 TWyr we report in this paper highly dependent on this price point [15–22] driven itself by antici-
[25]. The sizeable increase from our 2015 estimate is traceable primar- pated global demand. The market price of uranium has been decreasing
ily to a large increase in identified reserves in the Asia Pacific region
(+40%) likely resulting from a better resource characterization parallel- 1
The conversion natural gas volume to natural energetic content depends on
ing a steady increase in regional demand. The new estimate also includes the quality of the natural and the mix of constituents (e.g., butane, ethane, etc.)
10 TWyr worth of peat [30] that was not accounted for in our earlier that vary throughout the world. Here we took a mid-range conversion factor of
publications. 37 MJoules (10.25 kWh) per m3 of natural gas.

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M. Perez and R. Perez Solar Energy Advances 2 (2022) 100014

Fig. 2. RARs of renewable and finite energy resources. The area of the circles represents reasonably assured recoverable energy reserves from both finite and
renewable resources over the next 30 years. These areas can be compared with total demand (earth image) over that same period

Fig. 3. World Energy Demand growth spanning our 2009,


2015 and present evaluation, as estimated by the IEA [24],
BP [25] and Knoema [27].

steadily through 2019 because world demand for that metal had not We explained in our 2015 evaluation that uranium RARs also fun-
grown as previously expected. This market has since recovered some- damentally depend upon the technology applied to extract them as
what ($120/kg as of this writing) but still stands well below the price well upon the associated reprocessing cost. The present estimate as-
point upon which our previous estimates were based ($250/kg). Here sumes existing fission technology and no reprocessing of spent fu-
we set the RARs of uranium, including reasonably assured and inferred els exploitable by technologies with widespread societal and geopo-
stockpiles, recycled and prognosticated stockpiles, as well as speculative litical acceptance (given the inherent proliferation risk) at compet-
and super-speculative (phosphate) reserves at the maximum price-point itive market prices. Full recycling and utilization of current stock-
reached over the last five years ($180kg). Interestingly, setting the price piles at the current price point would amount to uranium RARs ex-
point at last year’s price would have yielded reserves about half of the ceeding 5,000 TWyr. Also, importantly, our nuclear assessment does
value we report today. not include the fusion of hydrogen (with its quasi-infinite resource)

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M. Perez and R. Perez Solar Energy Advances 2 (2022) 100014

since its economic commercial utilization is many years away at amount to nearly 1,500 TWyr30 – 2.5 times the world’s primary energy
best. demand over the period.
As for solar, it is informative to contrast the wind resource to the
Renewable sources of energy currently-deployed wind power generation worldwide – 743 GW on-
shore and 35 GW offshore, with an estimated 0.22 TWyr annual power
Solar Energy (8,300 TWyr30 ) generation [40]. This represents 0.2% of the developable potential iden-
tified here.
An important consideration we apply here to properly quantify re-
newable reserves is an extension of the term ‘reasonable’ underlying Geothermal (180 TWyr30 )
RARs beyond pure extraction/exploitation economics. This considera-
tion is especially relevant to solar since we have in the past reported the in our 2015 evaluation, we placed the exploitable geothermal energy
total amount of energy impinging annually on the earth’s continents. potential (RARs) at 0.2–3 TWyr per year [9–10]. We noted that this rep-
Of course, whereas it would now be economically reasonable to deploy resented a very small fraction of the total geothermal resource that some
solar (PV) over most of the continental surface area [31], it would be place at several tens of thousands of TWyr [11]. A recent global evalu-
unreasonable to assume that the entire space would be covered by PV. ation by Aghahosseini & Breyer [45] estimates that the global potential
In focusing on the energy available, we had also not accounted for the exploitable with current enhanced geothermal system (EGS) technology
energy conversion efficiency at hand. While it is likely to increase in the at a competitive price point amounts to 6 TWyr per year or 180 TWyr30
future, we assume here a current state-of-the-art footprint conversion over 30 years – a number we retain for the present evaluation, given
of sunlight to electricity of 20%2 , an assumption we justified and ap- our interpretation of RARs. The authors state that it may be possible to
plied in a recently published article on large scale PV deployment [32]. tap upward of 100 TWyr per year by 2050 given possible (but not yet
Retaining the PV deployment assumptions from this article and its as- at hand) technology improvements.
sociated land-use web app [33] we assume a reasonable upper limit of Note that we are focusing here on electricity-generating geothermal
deployment to each land-use category including an implementation of technologies. The term geothermal often encompass other applications
emerging PV deployment strategies such as floating PV [34] and agri- [46], in particular, ground-source heat pumps that are likely to play
voltaic [35]. We estimate this upper limit at 6% of the land mass. We did an important part of the planet’s future clean energy mix. However, it
not account for any prospective offshore deployment at this time (a to- is important to state that their primary energy demand concern, as for
tal resource twice as large as the continents’), although the practice may other (e.g., air-to-air) heat pump systems, will be the electricity needed
gain acceptability in the future [36]. Note that there are other possible to run them more than their ground (or air) heat content input.
approaches to assess deployable solar resource such as the ‘bottom-up’ The current geothermal capacity amounts to 15 GW [40], i.e.,
project specific practice outlined by UNECE [37] accounting for local- roughly 0.25% of the potential reported herein.
ized resources and socio-economic conditions.
From the present assumptions, the 30-year reasonably exploitable OTEC (90 TWyr30 )
solar reserves amount to 8,300 TWyr30 , i.e., about 12 times the global
primary demand over that period. For those interested in exploring other A recent review by Langer et al [47]. states that the global potential
continental or oceanic upper deployment limits as well as PV efficiency
for Ocean Thermal Energy Conversion (OTEC) is of the order of 30TWyr
limits, we developed an interactive web app [38] that will modify the per year. However, the authors caution that “OTEC’s economic potential
layout of Fig. 2 accordingly. Notably, the potential of agrivoltaics is is unknown as it is still an immature technology with no commercial plant
vast as extant agriculture currently covers roughly 38% of continental
operating”. Others place the potential OTEC resource at 12 TWyr per year
surface area [39]. [48]. While these estimates are commensurate, albeit higher than our
The current installed global solar capacity is estimated at 1.25 TW, previously reported 3–11 TWyr per year, they do not represent a realistic
including 760 GW solar PV, 6 GW CSP, and 500 GW solar thermal
‘reasonable reserves’ number that can be used to contrast with other
[40]. This translates to an annual energy generation of approximately resources given the non-existence of a technology to exploit it. We will
0.24 TWyr, or about 0.08% of the reasonably exploitable solar potential therefore retain the conservative lower previous estimate – 90 TWyr30
on an annual basis
– for the present evaluation, cautioning that the resource may not be
exploitable given the technological unknowns.
Wind energy (1,500 TWyr30 )
Hydropower (90 TWyr30 )
Lu et al [41]. estimated the yearly wind generation potential at 96.7
TWyr per year for locations with economic exploitation level of 20% ca-
The current installed capacity for hydropower is 1.33 TW, with an es-
pacity factor and up. This is fully consistent with our 2015 estimate of
timated annual electrical generation of 0.6 TWyr [49]. In our last article
103 TWyr [4] and with a more recent estimate from NREL [42] putting
we had reported a potential of 3-4 TWyr per year for hydropower. New
the total number of exploitable class 3 and up sites at 99.9 TWyr per year
exhaustive evaluations of the world’s hydropower potential indicate a
that we retain for the present evaluation. This includes 64 TWyr of on-
significantly higher potential of 6–8 TWyr per year [50,51]. However,
shore wind. This estimate, though economically reasonable, may not be
these new estimates do stretch the present “reasonable” definition of
environmentally reasonable in terms of continental footprint. Keeping
reserves, given the increasingly questionable environmental footprint
wind on par with solar in terms of a reasonably acceptable footprint (6%
of hydro powerplants. Interestingly, we reported that the current hy-
of continental mass) we adjusted the onshore wind RARs conservatively
dropower artificial lakes’ footprint in the US could support more than
extrapolating from current wind turbine ground occupancy [43] and op-
80 times more solar energy generation via floating PV using the above
erating capacity factors [44]. The offshore portion (36 TWyr) is applied
20% conversion efficiency [34]. This implies, extrapolating upon the US
in its entirety here, noting that similar offshore footprint limitations may
results, that an ultimate 8 TWyr hydro resource would be equivalent to
also be considered in the future. The 30-year exploitable wind RARs thus
a solar energy generation potential of 650 TWyr per year, i.e., more than
twice the above ‘reasonable’ solar deployment estimate. For this envi-
2
The bulk of the solar energy resource is assumed here to be used for elec- ronmental ground-occupancy reason, we will maintain the hydropower
tricity. We recognize that other applications (e.g., active or passive heating) are reasonable reserves at our earlier conservative estimate of 3 TWyr per
also possible. year, or 90 TWyr30 for the considered 30-year cycle.

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M. Perez and R. Perez Solar Energy Advances 2 (2022) 100014

Fig. 4. Reasonably Assured Reserves of finite resources compared to 30 years’ worth of global energy demand and renewable potential under a full electrification
scenario (the area of each circle is proportional to the corresponding reserve).

Biomass (115 TWyr30 ) tal footprint of the technology involving large coastal retaining basins.
Lower environmental footprint technologies applying tidal turbines ca-
Our 2015 estimate of 2–6 TWyr per year remains representative of pable of capturing tidal currents have been estimated to have a potential
this source of energy today. More recent studies by Mauser et al [52]. of less than 0.1 TWyr per year including both tidal and oceanic currents
and IRENA [53] suggest a slightly reduced range of 3–4.7 TWyr per year, [55]. We will therefore keep our conservative RARs estimate unchanged
whereby so-called modern biomass resources [40] are almost equally for tidal energy.
divided between farm wastes & residues (37%) energy crops (33%) and Current installed capacity for all types of tidal generation amounts
forestry residues (30%). We hereby retain the median of this range or to 527 MW [40], i.e., roughly 0.08% of the potential identified here.
3.8 TWyr per year.
Importantly, we must remark that this estimate stretches the defi- Wave energy (6 TWyr30 )
nition of the term ‘reasonable’ applied in this article. To elaborate, we
observe that in the US, corn energy crops alone occupy enough space we previously presented a range of 0.2–2 Twyr per year for this en-
to deploy PV generation amounting to 4.1 TWyr per year. Extrapolating ergy source. A review paper by Gunn & Stock Williams [56] reports that
this number to the entire planet would yield 77 TWyr per year worth of while the global wave energy potential is 2.1 Twyr per year, only about
solar generation, just from the space occupied by energy crops, i.e., 15– 4.6%, or 0.1 Twyr per year would be exploitable given the existing tech-
20 times more than the entire potential biomass yield from all sources. nology: Wave Energy Converters (WECS). Here again, we will therefore
The REN21 report [40] states that that modern biomass resource ac- keep our previous conservative estimate unchanged.
counted for 5.1% of the TFEC, while traditional [unsustainable] biomass The currently installed capacity of wave power generation only
(e.g., direct burning of harvested wood) accounted for another 6.5% of amounts to 2.3 MW [57].
the FETC in 2019. While the latter is expected to be entirely phased
out, the existing biomass resource already amounts to more than 50%
Discussion
of the resource’s developable potential, that is considerably more than
the emerging solar, wind and geothermal resources
This latest evaluation reports reasonably assured recoverable reserves
for both renewable and finite sources of energy that, we believe, are
Tidal energy (9 TWyr30 ) more realistic to inform decision-making than the numbers we had pre-
viously published. Whereas for conventional finite resources, the term
A recent study by Neil et al [54]. reports a substantially higher ‘reasonable’ can be directly inferred from technology and price-point
2.8 TWyr per year tidal potential than we had previously reported conditions, this term requires additional subjective interpretation for
(0.3 TWyr per year). However, the study cautions that nearly 80% of the renewables as it also embeds technological, logistical, and environ-
this potential emanates from one location: the Bay of Hudson in remote mental deployment factors.
Northern Canada, i.e., considerably stretching the ‘reasonable reserve’ Solar remains by far the largest energy source reasonably accessible
assumption of the present evaluation, notwithstanding the environmen- to tap for the planet, even after the considerable efficiency and footprint

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M. Perez and R. Perez Solar Energy Advances 2 (2022) 100014

resource-to-RARs limitations applied since our last report. Wind, with a APPENDIX: Energy units conversion table
less drastic reduction applied, remains a very large second, capable of
meeting the world’s demand several times over. 1 TWyr = 8.76 × 1012 kWh
Finite fossil fuel reserves, quantified on economic grounds only (i.e., = 31.54 EJ (exajoules)
not accounting for their environmental impacts) have remained roughly = 29.89 quads (quadrillion BTUs)
unchanged since our last evaluation. This is not the case for uranium = 753 Mtoes (Millions of tons of oil equivalent)
reserves that have been reevaluated downward on price point consider- = 1076 Mtocs (Millions of tons of coal equivalent)
ations. = 830 km3 of natural gas equivalent
Importantly for all finite resources, fast-growing and increasingly
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