submitted by Exact Solar, www.ExactSolar.com
Clean energy sources are displacing traditional fossil fuel electricity generation at an increasing pace.
Because both wind and solar energy are experiencing accelerated technological advancement, each power source is now cost competitive and in some cases quite a bit cheaper than, the old, polluting sources – and therefore are even becoming a first choice for both replacing existing and adding new capacity.
Consider that while natural gas and coal fuel prices may fluctuate up and down, overall they generally increase.
Also, construction and operating costs of large fossil fuel power plants grow over time.
In contrast, the investment and operating costs for solar energy and wind continue to decline, and the fuel is always free!
We’ve reached a milestone where clean energy sources are now strongly considered for global electricity supply needs.
And, across the globe the demand for electricity has been growing for decades.
This is partly due to the need to electrify some regions, where by some estimates only about 85% of the world’s population currently has access to electricity.
In addition to new access to power, individual demand is growing as consumers buy more powered products and as the push to electrify transportation gains traction – a strategy to wean the world away from combustion engines.
By conservative estimates, over 25% of the world’s electricity generating capacity now comes from solar, wind, and hydropower.
There is good news from the Energy Information Administration, typically favorable to traditional energy sources, where it projects that in 2020 over 75% of new U.S. electricity generation capacity will come from solar and wind energy, alone.
Even better news is that emissions-belching coal fueled power plants are a thing of the past, being decommissioned in the U.S. and other industrialized nations at a fast pace because of the expense to operate them.
Worldwide, the International Energy Agency (IEA) reports that solar energy, wind, and hydropower are growing at the fastest rate in the past four years, and they predict this trend means that global demand for coal and oil are nearing peaks.
More locally in the Northeast, solar power continues to expand more each year, offshore wind is now coming on strong with massive gigawatt scale projects in the works, and thrilled homeowners and businesses are finding their own way to break the cycle of high utility costs with solar power projects.
Most convincing, the presumed negative impact of trade policies and tariffs have done little to slow down the nation’s booming clean energy industry.
It is no longer a prediction for the future, rather clean energy is the clear, economic choice for today.