SOLISCO WELCOMES THE ENERGY REVOLUTION
Clean energy installations broke new records worldwide in 2016, and wind and solar are seeing twice as much funding as fossil fuels, according to new data released by Bloomberg New Energy Finance (BNEF). That’s largely because prices continue to fall. Solar power, for the first time, is becoming the cheapest form of new electricity in the world.
Wind and solar are about to become unstoppable, natural gas and oil production are approaching their peak, and electric cars and batteries for the grid are waiting to take over.
RENEWABLES ARE BEATING FOSSIL FUELS
Government subsidies have helped wind and solar get a foothold in global power markets, but economies of scale are the true driver of falling prices. Unsubsidized wind and solar are beginning to outcompete coal and natural gas in an ever-widening circle of countries.
RENEWABLES ARE BECOMING UNSTOPPABLE
With renewables entering the mix, even the fossil-fuel plants still in operation are being used less often. When the wind is blowing and the sun is shining, the marginal cost of that electricity is essentially free, and free energy wins every time. That also means declining profits for fuel-burning power plants.
The outlook for electric cars—and for battery-backed wind and solar—is improving because the price of lithium-ion packs continues to tumble.
Fortunately, global energy markets at least seem headed in a cleaner direction. Electric cars will provide the opportunity for a cleaner, greener future. Solisco are confident that it is no longer a question of whether this happens – but how quickly.
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Want to know more? Check out the original article on the Bloomberg website here – https://www.bloomberg.com/news/articles/2017-04-26/the-cheap-energy-revolution-is-here-and-coal-won-t-cut-it
Original article written by Tom Randall for Climate Changed, Bloomsburg, 26 April 2017, 07:00 BST
