Solar, Wind Are Now Cheaper Than Coal In Most Of The World

The world’s premiere authority on global warming, the Intergovernmental Panel on Climate Change (or IPCC for short), announced in an alarming report at the end of last year that the world is running out of time to curb carbon dioxide emissions. In fact, the data they collected found that in order to keep global temperatures from rising more than 1.5 degrees centigrade over pre-industrial averages within this century (the goal set by the Paris climate agreement), the entire world would have to transition to 100 percent clean energy by the middle of the century.

This, it goes without saying, is a lofty goal. But up until now, clean energies just haven’t been able to compete in a market flooded with cheap fossil fuels.

Low- and no-carbon renewable energies like solar and wind power have long been subsidized by governments around the world because while they hold great promise for a clear, more sustainable energy future, they just couldn’t compete with natural gas, coal, and oil when it comes to the bottom line. But now, what was once so prohibitively expensive that governments needed to give financial incentive for these green energy technologies to be adopted at any serious scale, have become extremely cheap–even with no government subsidies at all..

Source / More : By Haley Zaremba for Oilprice.com

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