By 2030, renewables will account for 70 percent of new power supply worldwide but represent only half the world’s power supply, according to projections released today from Bloomberg New Energy Finance, reports Tim McDonnell at the Climate Desk. Bloomberg analysts examined gas prices, carbon prices, the dwindling price of green energy technology, and overall energy demand (which, in the US at least, is on a massive decline), and found solar and wind beating fossil fuels like coal and natural gas by 2030. By 2030, current projections estimate renewables will represent $630 billion worth of investment, while new fossil fuel sources (like coal- or gas-burning power plants) become increasingly rare. Signs of this transformation are already appearing: Solar power workers now outnumber coal miners nationwide, wind power was the United States’ leading source of new power in 2012, and financial analysts warn that fossil fuel investments are poised to become a very bad bet. Still, only 50% clean energy powering the world by 2030? It’s good, but still not good enough to avert worrisome climate change.
Join the swelling numbers of voters TELLING Congress they’ll vote for Clean Energy candidates here: http://signon.org/sign/we-are-the-clean-99?source=c.em.cp&r_by=487176 . This is an ongoing campaign (the next Congressional election is in 2 years!) so please, spread the word. It’s our way of telling Congress that a strong clean energy voting bloc is out there. This is how YOU can make a difference.
For more on Climate Change, check out my weekly column at the HuffingtonPost, Climate Change This Week : http://www.huffingtonpost.com/author/index.php?author=mary-ellen-harte