The tumbling costs of wind and solar can unlock demand that could power the world 100 times over, with a new report from think tank Carbon Tracker finding that renewables are set to push fossil fuels out of the electricity mix by the mid-2030s. A new report from Carbon Tracker finds that 60% of the world’s solar resource and 15% of its wind resource are economically comparable with local fossil fuel generation. As costs fall further, fossil fuels could be pushed out of the electricity mix by the 2030s, at which point all solar technology and more than half of wind will be economically preferable compared to other forms of electricity generation. By 2050, wind and solar would displace fossil fuels entirely in supporting technologies such as electric vehicles and green hydrogen production. Falling costs could see renewables create energy demand that would power the world 100 times over.
Edie 23rd April 2021 read more »