The age of electricity
这篇论文分析了电力时代到来的驱动因素，包括需求侧数字化和供给侧可再生能源成本下降，指出电气化有助于经济脱碳，但转型速度远未达到巴黎气候目标，并讨论了电力市场变革及化石燃料的长期影响。
The age of electricity is coming, driven by rapid technological change. On the demand side, the digitalization of many processes is leading to technologies that require electricity, rather than liquid or solid fuels. On the supply side, renewable energy technologies provide electricity directly, at falling cost. Electrification, directly and indirectly (e.g. using electricity to produce hydrogen fuel) can aid the decarbonization of the economy; strong climate policy would accelerate electrification. The big question is when, not if, and the transition is not occurring anywhere near fast enough to meet the Paris climate goals. The immediate impact of the coming age of electricity is the transformation of electricity markets, which need to adapt to near zero marginal costs and intermittency. In the longer term, the impact on fossil fuels will be radical. Fossil fuel prices will fall with demand, and the oil and gas majors will either completely transform themselves or will harvest profits and exit.