Fossil-Fuel Demand for Electricity May Have Peaked Globally
- Solar, wind and batteries helping reduce carbon and prices
- Renewables to supply a third of global power by 2030: RMI
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The exponential growth of renewable energy is pushing down global electricity prices and helping remove so much carbon from power systems that fossil fuels are no longer economical, and their use has peaked, according to a report.
From China to Europe, the capacities of solar, battery and wind power are surging, the Rocky Mountain Institute said in an analysis released Thursday in conjunction with the Bezos Earth Fund. That means sending demand for gas, oil and coal linked to electricity generation into a steep decline, a critical step toward curbing emissions linked to climate change.