In a new investigation, the UK-based financial newspaper, Financial Times are predicting a real revolution in the renewable energy industry.
Their investigation (see video above), which coincides with FT Clean Energy Week, finds that this is a result of falling cost of solar and wind, as well as favourable renewable energy policies in many countries.
Environment editor Pilita Clark writes: “leaders in the oil and gas sector have been forced to confront an existential question: will the 21st century be the last one for fossil fuels?
It is early, but the evidence is mounting. Wind and solar parks are being built at unprecedented rates, threatening the business models of established power companies. Electric cars that were hard to even buy eight years ago are selling at an exponential rate, in the process driving down the price of batteries that hold the key to unleashing new levels of green growth.”