In an update on clean energy, a new study from the Rocky Mountain Institute suggests renewable sources could be responsible for 33% of the world’s electricity production by 2030.
The RMI study concludes that exponential growth in the sector would mark a significant increase from the 12% generated by the same sources today.
While it’s sounds like good news for the planet it will make difference to the bank balances of consumers.
According to the RMI report, as more solar projects are completed. the price per megawatt could reduce from $40 to $20.
According to Systems Change Lab, as detailed in the report, eight countries have already invested enough in solar and wind power to do their part to limit global heating to 34.7 degrees Fahrenheit.
Such progress toward global climate goals suggests similar feats can be achieved if the infrastructure and funding is available.
The data also noted that fossil fuel demand in terms of electricity production will also fall by as much as 30% by 2030.
Meanwhile, RMI quoted Bloomberg New Energy Finance data that found the cost of both offshore (73%) and onshore (57%) wind generation have decreased. (Cool Down 12/21/23) New report reveals a stunning fact about the future of wind and solar power: ‘The more you install, the cheaper it gets’ (msn.com)
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