Huge and ongoing falls in the cost of renewable energy mean that it could replace fossil fuels for global electricity generation by 2035 and allow all energy production to emit zero carbon by 2050, according to a report. The fossil fuel industry will be unable to compete with cheap wind and solar power, while millions of people in developing countries will have access for the first time to affordable and domestically produced electricity, according to the think tank Carbon Tracker. The cost of solar power has fallen by an average of 18 per cent and wind power by 9 per cent a year since 2010, the report said. The installed capacity of solar panels has increased by 39 per cent a year globally over the same period and wind turbines by 17 per cent.
Times 23rd April 2021 read more »