With Germany mandating that all new cars sold by 2030 be electric, and electricity becoming cheaper than fossil fuels, reports are indicating that regardless of what the oil industry may say, a switch to renewable forms of energy production is well underway.
The BNEF report contains several key predictions. When it comes to solar power, BNEF analysts think a reduction in the cost of developing, financing and operating new utility-scale solar installations will help drive costs lower. The projections foresee the spread of rooftop solar in Europe, Australia and the U.S., and soon in India and China as well.
By 2040, the BNEF report finds, Germany, Mexico, the UK and Australia will "all have average wind and solar penetration of more than 50 percent."
According to the report, an increase in solar and wind power generation will be accompanied by a decrease in coal and gas power plants over the next 25 years. But some coal plants will still be needed, particularly in developing countries like China and India.
|Tiny World Cup Flags Responsible for an Additional 3 Million Kilograms of Carbon Emissions|
|“It will take at least a century to decarbonize our economy.”|
|Canada Selling Bottles of Air for $20 a Pop to the Chinese|
|"Essentially, we ended up with an antacid for the stratosphere."|
|Exit Glacier is Melting at a Rate of 10 to 15 Feet per Day|
|“Prof Mallett has wanted to build a time machine for most of his life.”|
|Japanese Robot Serves Ice Cream From Inside a Vending Machine|
|“Inhibiting this pathway has extended life span in every species studies to date.”|
|“A company headquartered in Toronto runs a successful affordable mobile phone service in the US.”|
|“Social media can be good but we must be careful with how we use it.”|
|Somebody Needs to Build a New Facebook Stat|
|Why, Typewriters Are Alive and Well, Thank you|
|How to Avoid Jury Duty|
|“Forget everything you were taught about having your phone out at the table — you'll need it to call the robots that serve you.”|
|“Artificial intelligence can detect your sexuality and politics just by looking at your face.”|
|The (Very Scary) People of Public Transit|
|CaptchaTweet: Write Tweets in Captcha Form|