NEW REPORT: RENEWABLE ENERGY WILL BE CHEAPER THAN FOSSIL FUELS BY 2020
In some parts of the world we’re already beginning to see the effects of such a paradigm shift: Last year, Britain began generating twice as much electricity from wind than coal, which contributed to 2017 being the greenest year ever for the United Kingdom.
In the United States, solar and wind power accounted for nearly 95 percent of all new electricity capacity added last year, according to Engadget. That success can also be partially attributed to the closures of fossil fuel plants.
In the coming years, we’re sure to see renewable energy become a real competitor in the fossil fuel industry. A new report recently published by the International Renewable Energy Agency (IRENA), predicts the cost of renewable energy will experience a noticeable drop by 2020, putting it on par with, or cheaper than, fossil fuels.
photo credit: Andrew Gustar