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Energy Crisis Is Hastening End of Fossil Fuel Era, India Says

A coal wholesale market in Mumbai.

A coal wholesale market in Mumbai.

Photographer: Dhiraj Singh/Bloomberg

The global energy crisis is accelerating a shift to renewable sources and hastening the end of the dominance of fossil fuels, according to India’s Power and Renewable Energy Minister Raj Kumar Singh.

Renewables paired with energy storage are now cheaper than coal after the fuel’s price surged in recent months, while fossil sources are also experiencing a lack of investment in new production, Singh said Wednesday in a speech at the Sydney Energy Forum.