The simple answer is yes. A key thing that has change is that renewables are now economically competitive with conventional energy sources in many locations. For example, Bloomberg New Energy Finance says that utility-scale solar farms and onshore wind farms now offer the cheapest source of electricity for about two-thirds of the world’s population. So Forbes depicts it as full speed ahead as markets back cheap renewables in a post-C19 restart, presumably aided by stimulus packages. The International Renewable Energy Agency’s post C-19 Transforming Energy Scenario sees renewables expanding tosupply 86% of electricity by 2050. Some scenarios from academia put the potential of renewables even higher- at up to 100% of all energy globally by 2050. In this new book, Dave Elliott argues that, with wind and solar power output growing ‘at an annual average of 20.8% and 50.2%, respectively, over the past decade renewables are doing well. Moreover, in some sectors power demand is actually falling. Indeed it’s fallen back to 1994 levels in the UK. And with new nuclear and Carbon Capture and Storage pretty much stalled, backing renewables (and further energy savings) is the best bet.
Polity 3rd July 2020 read more »