“For one thing, engineers have done their work and done it well. About a decade ago the price of renewable energy began to plummet, and that decline keeps accelerating. The price per kilowatt hour of solar power has fallen 82 percent since 2010—this spring in the sunny deserts of Dubai the winning bid for what will be the world’s largest solar array came in at not much more than a penny. The price of wind power has fallen nearly as dramatically. Now batteries are whooshing down the same curve. In many places, within a few years, it will actually be cheaper to build new solar arrays than it will be to keep running already-built-and-paid-for gas and coal-fired power plants. (That’s because, when the sun comes up in the morning, it delivers the power for free.) Because of this, and because of strong campaigns from activists targeting banks and asset managers, investors have begun to move decisively toward renewable energy. Such activist campaigns have also begun to weaken the political power of the fossil fuel industry, which has used its clout for three decades to block a transition to new forms of energy.”

– via Instapaper https://ift.tt/39WiRWq


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