At this rate, the world will be fossil fuel free by 2032

 and  write in The Conversation:

Solar photovoltaic and wind power are rapidly getting cheaper and more abundant – so much so that they are on track to entirely supplant fossil fuels worldwide within two decades, with the time frame depending mostly on politics. The protestation from some politicians that we need to build new coal stations sounds rather quaint.

Together, PV and wind currently produce about 7% of the world’s electricity. Worldwide over the past five years, PV capacity has grown by 28% per year, and wind by 13% per year. Remarkably, because of the slow or nonexistent growth rates of coal and gas, current trends put the world on track to reach 100% renewable electricity by 2032.

The same week this article was published, UN Environment  and Bloomberg New Energy Finance issued Global Trends in Renewable Energy Investment 2018, a report noting that solar and wind power investment was three times bigger than fossil fuel power investment in 2017 and that green energies since 2004 have been backed by investments totalling $2.9 trillion.

Read the full article by Messrs. Blakers and Stocks in The Conversation

Follow 7minutesolar

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: