Tuesday, January 16, 2018

World is pedal to the metal on renewable energy

Decades ago, a Saudi oil minister was quoted as saying, “The Stone Age didn’t end for lack of stones and the Oil Age won’t end for lack of oil.”

It’s happening now. According to the International Renewable Energy Agency, we are two years away from the point at which renewables are so inexpensive that they will beat out fossil fuels globally. Even Big Oil is getting serious about investing in renewable technologies.

Last week the U.S. Energy Information Administration underscored how quickly the renewable energy trend has overtaken the power generation field, with a new report titled, “Nearly half of utility-scale capacity installed in 2017 came from renewables,” at 12 gigawatts or so. EIA estimated the total in utility-scale capacity additions for 2017 at about 25 gigawatts.


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