Capacity factor is his first fallacy.
Second is that hydrocarbon fuels won't change in price because they are not a technology.  Well here's news, an electron isn't technology either.  Fracking as a technology example, brought wholesale worldwide change to price of hydrocarbons.  
The third is his simplistic view of resources without any concept of economics.  Highlighting windy, wavy or sunny regions is far different from economically harnessing that energy for commercial use.
Fourth, by 2022, for solar and wind to be competitive industrially, let's factor in the storage cost too.  Right now they're incomplete technologies.  This is why cargo ships don't use sails.  So by 2022, on a scale of "useful electrons to a consumer at any point in time" which should be the real measuring stick, they are still not economic.
Lastly, the only private sector investment being made is with subsidy.