Sunday, April 16, 2017

Stunning drops in solar and wind costs turn global power market upside down

According to the UN and Bloomberg New Energy Finiance, the world build more renewables for less money than ever last year.  "In just one year, the cost of solar generation worldwide dropped on average 17 percent... onshore wind dropped 18%... while those for offshore wind fell a whopping 28%."

The world's renewable energy is becoming more and more affordable, and the world should implement new strategies in order to utilize the power of wind and solar energy.  It does look though that the world as a whole is slowly adapting to the new energies.  We can rely on innovators to come up with new ideas to help push the world along in these changing times.

https://thinkprogress.org/renewables-cheapest-new-power-globally-74910c78bbbe

6 comments:

Cierra Cresanto said...

This is very encouraging! I agree that innovators are important, but other factors need to be considered to drive renewable energy forward. The renewable energy sector needs to have a bigger lobbying platform in congress. Owners of nonrenewable resources will also be difficult to convince that renewable energy is the way to go. They have a lot of money invested in their own forms of energy, and therefore, have a lot of power in politics. We will have to figure out a way to pressure congress and these owners/investors that renewable energy is the best way to proceed.

Unknown said...

It's really good to see the cost for renewable energy is decreasing. I'm curious how will Trump deal with this new situation because one reason for him to decrease the subsidies on renewable energy and bring back to more coal, is that he thinks the renewable energy is not affordable. I'm really happy to see the price drop and the subsidized renewable energy has become the cheapest energy in many countries. And I'm looking forward to seeing how the nonrenewable energy market will change.

Unknown said...
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Unknown said...

Given the mercurial state of our economy and country in general, this is extremely good news. I agree with Dianyi, as I am extremely curious to know what Trump makes of all of this. Given his current stance on renewable energy it is unlikely that he will change his mind. However, this does provide a beacon of hope. Those in control of non-renewable energy resources are the ones that need to be targeted, as investors in such sectors do tend to work out of self-interest. It will be interesting to see how much time it takes for then to acknowledge the benefits of renewable energy or if they dismiss the idea altogether!

Unknown said...
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Unknown said...

It will be interesting to see if the Trump Administration continues to emphasize the coal business when this would clearly be a better alternative in the long run. It seems to be that cost has been the main concern with pursuing green energy in the past, so perhaps if the costs continue to go down Trump may respond in some way. It would be encouraging to see Trump turn the corner here.