As Solar and Wind Prices Fall, Coal’s Future is Fading Fast, BNEF Says

Wind and solar power are growing Coal is dying, and total global greenhouse gas emissions from electrical generation will peak in 2026, according to a bullish report released Thursday by respected independent energy consultants. Driven by plummeting solar and wind power prices, renewable energy projects are on the march worldwide. Of the $10.2 trillion the world will invest in new power generating technology from now until 2040, a stunning three-quarters will be in renewable energy , the report forecasts. As a result, wind and solar will jump to 34 percent of electricity generation worldwide by 2040, compared with just 5 percent now, the report says. "This year’s report suggests that the greening of the world’s electricity system is unstoppable," said Seb Henbest, lead author of the New Energy Outlook forecast. The report is published annually by Bloomberg New Energy Finance (BNEF), an independent energy research firm, and is based on eight months of analysis and extensive market modeling. This year’s report significantly raises BNEF’s estimates for the speed of the global greening of energy. For example, BNEF expects India’s emissions will be 44 percent lower by 2040 than it estimated in 2016. However, it is important to note that, […]

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