A longstanding argument against renewable energy is that technologies like solar and wind are too expensive, yet that argument is losing support. The World Economic Forum (WEF) reports solar and wind are the same price or cheaper than fossil fuel in over 30 countries.
Even in the absence of subsidies, the adoption of renewables is beginning to make significant financial sense.
Renewable energy has reached a tipping point. It is not only a commercially viable option, but an outright compelling investment opportunity with long-term, stable, inflation-protected returns. – Michael Drexler, WEF
Global investment in clean energy is growing–it reached $286 billion last year–but it remains behind the $1 trillion goal set as part of the Paris climate change accord.
Looking towards the future, it is expected solar will cost half as much as coal and natural gas within 10 to 20 years. It’ll reach that point much faster in some locations.
