From: Mother Jones
COMMENT - Kudos for M. Jones! And the chart should be used as art - and worn as Tee-Shirts! I just love the way oil is being squeezed out.
Fossil fuel cheerleaders take note: Renewable energy ain't going nowhere—and it may prove to be the better bet in the long run.
By 2030, renewables will account for 70 percent of new power supply worldwide, according to projections
released today from Bloomberg New Energy Finance. Bloomberg analysts
examined gas prices, carbon prices, the dwindling price of green energy
technology, and overall energy demand (which, in the US at least, is on a
massive decline), and found solar and wind beating fossil fuels like coal and natural gas by 2030.
The chart below shows annual installations of new power
sources, in gigawatts; over time, more and more of the new energy supply
being built each year comes from renewable sources (like wind turbines
and solar panels), by 2030 representing $630 billion worth of
investment, while new fossil fuel sources (like coal- or gas-burning
power plants) become increasingly rare.
Courtesy BNEF
The effect of this projected growth, BNEF CEO Michael Liebreich told Climate Desk
at a gathering of clean energy investors today in New York, is that
damage to the climate from the electricity sector is likely to taper off
even as worldwide electricity use grows. "I believe we're in a phase of
change where renewables are going to take the sting out of growth in
energy demand," he said. MORE
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