Spectacular falls for solar, wind and battery costs squeeze fossil fuels

panels turbine

 

The spectacular falls in the cost of wind and solar energy continued in 2017, dropping another 18 per cent across the globe, according to the latest report from Bloomberg New Energy Finance.

The report also highlights the falling cost and growing uptake of battery storage, which together are mounting an unprecedented challenge to fossil fuel power, particularly as batteries start to encroach on the flexibility and peaking revenues enjoyed by those fossil fuel plants.

The new report from BNEF highlights Australia as one of the key countries to have led the cost reductions in both wind and solar. India is also cited for both wind and solar.

Coal and gas are facing a mounting threat to their position in the world’s electricity generation mix, as a result of the spectacular reductions in cost not just for wind and solar technologies, but also for batteries,” the BNEF report says. . .

Source: Spectacular falls for solar, wind and battery costs squeeze fossil fuels

6 thoughts on “Spectacular falls for solar, wind and battery costs squeeze fossil fuels

  1. Conservative economics was partly right on this one. The market is, indeed, turning the tide on fossil fuel consumption. It’s just really too bad the trend didn’t start sooner. Maybe it would have, if powerful special interests had not poked their fingers into politics in the US and elsewhere.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.