Renewable energy is catching up…
The International Energy Agency (IEA) tell us that renewables are beginning to make a sizable and growing contribution to world energy supplies.
For a world hungry for energy, this is very good news.
Wind and solar electric generation units are being installed at record rates throughout the world. Two wind turbines per hour were being installed in China and elsewhere in 2015, a year that also saw about 500,000 solar panels installed.
This surge in green energy reflects major reductions in generating costs. Between 2010 and 2015 generating costs for big solar power plants fell by 66 percent, while offshore wind farm costs fell 30 percent. The U.N.-affiliated agency thinks costs will continue to fall for both types of renewable power.
The Financial Times of London quotes IEA executive director Faith Bicol as saying:
“We are witnessing a transformation of global power markets led by renewables.”
The agency said a record 153 gigawatts of renewable energy (a gigawatt is a billion watts) was installed last year, more than the amount of new nuclear and fossil fuel capacity despite the rising use of…
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