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Solar And Wind Power Cheaper Than Fossil Fuel

Author: Source: Datetime: 2017-01-06 17:30:16
According to a new report from the World Economic Forum, solar and wind are now the same or cheaper than fossil fuels in more than 30 countries, according to a report in the Independent's website on January 4. The influential fund called the change "a turning point" and argued that for energy companies, the change could turn climate change into a lucrative business.

The report also said that although this green solution is indeed cheaper than the more traditional form of electricity, but investors and energy companies have not yet invested.
Solar And Wind Power Cheaper Than Fossil Fuel
"There is a turning point in renewable energy - the best chance of reversing global warming," said Michael Drexler, head of the World Economic Forum's long-term investment, infrastructure and development program. Competitiveness, and costs continue to decline, which is not only a viable business option, but also a great investment opportunity, can bring long-term, stable and free from inflation impact. "

10 years ago, when the cost of solar power batteries is still about $ 600 per MW, the cost of generating the same amount of electricity from coal and natural gas is only $ 100. But the price of renewable energy is falling at a rapid pace - it costs only about $ 100 to generate the same amount of electricity from solar energy, and $ 50 for wind power.

The low prices of solar and wind power have led many companies to build more power plants to capture the benefits of low prices. The US Solar Industry Association said the United States added about 125 new portable solar power generator panels per minute, and in 2015 the amount of renewable energy investment in the previous year increased by 5%, reaching 286 billion US dollars.
Solar And Wind Power Cheaper Than Fossil Fuel
Despite the low prices, investment in this sector is still insufficient to offset the disastrous effects of global warming. The milestone Paris climate agreement set a target of $ 1 trillion, with only about 25% of global investment. As investment by political factors, to persuade enterprises to invest in green energy will not be too difficult.
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