Sunday, June 18, 2017

Bloomberg -- Solar Power Will Kill Coal Faster Than You Think

This Bloomberg report on our energy future is interesting and enlightening. Despite President Trump’s policy move to return to coal, oil, and gas by eliminating the regulations that have brought meaningful progress in implementing clean energy standards and viable progress in clean energy technology, there are indications that a return to our fossil fuel past may not be possible.

“Beyond the term of a president, Donald Trump can’t change the structure of the global energy sector single-handedly,” said Seb Henbest, a researcher at Bloomberg New Energy Finance (BNEF) in London and lead author of the report.

“All told, the growth of zero-emission energy technologies means the industry will tackle pollution faster than generally accepted. While that will slow the pace of global warming, another $5.3 trillion of investment would be needed to bring enough generation capacity to keep temperature increases by the end of the century to a manageable 2 degrees Celsius (3.6 degrees Fahrenheit), the report said.

“The data suggest wind and solar are quickly becoming major sources of electricity, brushing aside perceptions that they’re too expensive to rival traditional fuels.

“By 2040, wind and solar will make up almost half of the world’s installed generation capacity, up from just 12 percent now, and account for 34 percent of all the power generated, compared with 5 percent at the moment, BNEF concluded.

by Jess Shankleman  and Hayley Warren