Dec 5, 2016

Good News For the Environment and the Economy




Wind and Solar Are Crushing Fossil Fuels

Record clean energy investment outpaces gas and coal 2 to 1.

Wind and solar have grown seemingly unstoppable.

While two years of crashing prices for oil, natural gas, and coal triggered dramatic downsizing in those industries, renewables have been thriving. Clean energy investment broke new records in 2015 and is now seeing twice as much global funding as fossil fuels.

One reason is that renewable energy is becoming ever cheaper to produce. Recent solar and wind auctions in Mexico and Morocco ended with winning bids from companies that promised to produce electricity at the cheapest rate, from any source, anywhere in the world, said Michael Liebreich, chairman of the advisory board for Bloomberg New Energy Finance (BNEF).

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