Thanks to current technology, the economics of utilizing solar and wind energy have suddenly and dramatically improved, according to a new report.
The Carbon Tracker Initiative, a financial think tank studying the path to a low-carbon future, reveals a “collapse” in the cost of renewable energy over the past three years in a study titled “The Sky’s the Limit,” a little-noticed report flagged by The New Yorker this week.
According to the report, solar and wind have the potential to meet 100 times the current global energy demand, and over 50% of today’s renewable technical potential also has economic potential. By the end of the decade, that 50% grows to over 90%.
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“The technical and economic barriers have been crossed and the only impediment to change is political,” says the report, released during Earth Week 2021.
The Sky’s the Limit: Solar and wind energy potential is 100 times as much as global energy demand [Carbon Tracker Initiative]
Renewable Energy Is Suddenly Startlingly Cheap [The New Yorker]
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Jeremy Barker is the director of content marketing for Breaking Media. Feel free to email him with questions or comments and to connect on LinkedIn.