Can’t Stop The New Energy

Cheap gas, coal won't hobble renewables: energy report

Marlowe Hood, June 13, 2016 (PhysOrg)

“…Renewables are set to attract $7.8 trillion (6.9 trillion euros) by 2040, nearly four times as much as carbon-based power over the same period, [according to the New Energy Outlook 2016 from Bloomberg New Energy Finance]… The impact of cheap gas and coal will be offset, it projected, by drops of 41 and 60 percent, respectively, in the price of power from wind and solar panels…[But the shift] will not happen quickly enough to keep global warming below two degrees Celsius (3.6 degrees Fahrenheit), much less the more ambitious goal embraced by the world's nations last December…To achieve even the two-degree target, additional investment of $5.3 trillion in zero-carbon power—on top of the projected $7.8 trillion—would be needed by 2040, the report concludes…The energy sector accounts for two-thirds of the greenhouse gas emissions that drive global warming…Currently, 80 percent of global energy consumption is drawn from fossil fuels…China's slowing economy and retreat from coal [is important but energy demands in India] are forecast to nearly quadruple in the next quarter century…[making it the key] to the future global emissions trend…” click here for more

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