From renewables to Netflix: the 15 super-trends that defined the 2010s. In early December, thousands of Britons were paid to charge their electric vehicles or run a laundry load to make use of the record-breaking renewable energy generated by the UK’s wind farms. It is the latest example of how the renewable industry has turned the energy system on its head in the past 10 years. At the turn of the decade, wind, solar and hydro power projects made up less than 8% of Britain’s electricity. Today, more than a third of the electricity mix comes from the fleet of renewable projects, which have grown fourfold in 10 years. Globally, investors have ploughed $2.5tn into renewables since 2010 to drive its share of the world’s power generation to 12%. The burgeoning industry’s greatest feat has been to cut the costs of renewable energy technology far faster than expected. A global survey by Bloomberg New Energy Finance found that solar power costs had fallen by over 80% since 2009, while onshore wind had plunged by 46%. In the UK, the cost of offshore windfarms has dropped by half in the past two years alone; they are now cheaper to build and run than fossil-fuel plants.
Guardian 27th Dec 2019 read more »