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Fossil fuels will soon be overpowered by renewable energy

Yes, fossil fuels such as coal and oil still rule the global energy market and renewable energy source still cannot satisfy ever-growing demand for power. But there are many positive signs that things could change in not so distant future.

Climate change cause is often mentioned as the main driving force behind the recent surge in renewable energy technologies. This is only partially true because renewable energy technologies are becoming increasingly relevant in one area that really matters - cost-competitiveness.

Take solar power for instance. The recent report from Guardian says that the cost of solar power have dropped by staggering 85% in the last seven years. Wind power is also becoming cheaper, there are more and more electric vehicles in the roads, and things are really shaping nicely for global renewable energy industry.

If development continues at this pace solar panels could supply close to one quarter of global power generation by 2040 which would mean phasing out large chunk of natural gas and coal fired power plants.

Solar energy usage has increased from 6,496 MW in 2006 to 223,948 MW in 2015 while wind power usage grew from 73,281 MW in 2006 to 416,638 MW in 2016. The powerful fossil fuel lobbies still look to be underestimating these numbers but mathematics rarely lies.

Renewable energy sources have time on their side, and by the current looks of it this time could come lot sooner than many thought it will. The renewable energy future has already started, and exciting times lie ahead.





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