Global energy writer Ken Silverstein in Forbes:
Despite Efforts To Trip It Up, New Energy Economy Remains On Sound Footing
A decade into the New Energy Economy, the country is not turning back. Falling electricity costs and continually improving technologies mean that the prospects for both solar and wind energy continue to brighten at the expense of coal.
Innovation and competitive pricing is at the heart of the transformation, making renewable energy the hottest commodity when it comes to generating electricity. Indeed, its price is at least on par with more traditional sources of energy and causing some utilities to rethink their long-range business plans.
Highlights and Key Points:
- Consumers are driving the market. Their electricity prices have fallen by 3% since 2015, says Bloomberg New Energy Finance.
- There are now 84,944 megawatts of installed wind capacity in the United States. That could surpass 100,000 in 2018.
- Roughly 27,000 megawatts large solar plants now exist with expectations to hit 30,000 in 2018. Over the next five years, the solar market will nearly triple in size, according to GTM Research.
- While there will be repercussions from any tariffs or subsidies, market forces are resilient.