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The move from fossil fuels to renewables is happening on a staggering scale

The move from fossil fuels to renewables is happening on a staggering scale

The move from fossil fuels to renewables is happening on a staggering scale

AEP paints a gloomy picture for anyone holding shares in big oil, gas or coal this morning.

The broad gist of this piece is that resistance to the momentum of renewable deployment is futile. Previous resistance to carbon reduction from China and India has vanished as both make huge investments in solar and wind. China’s volte face may also be more pragmatic; as AEP points out, the ruling party is facing growing disquiet from a rising middle class about the country’s air quality. 

The move from fossil fuels to renewables is happening on a staggering scale

The sheer scale of the move from fossil to renewable is staggering; half of the new electricity generation in the US in the past two years has been from solar. China plans to install 100GW of solar generation by 2030 and India has pledged to produce 40% of it’s electricity from solar in the same time frame. What this means is that the solar industry will continue to attract huge sums of R&D capital. Efficiencies will continue to rise and costs will continue to fall. Micro grids and small scale battery storage will become the norm, large scale, hydrocarbon based generation will become a relic of a bygone age. AEP compares it to the effect the railways had on canals. As he sagely observes’ “Technology takes no prisoners”

You can read the article here.

To find out more about how your business can be on the right side of these huge changes in the way we get our electricity, contact us.