Fossil fuel cheerleaders take note: Renewable energy ain't going nowhere-and it may prove to be the better bet in the long run.
By 2030, renewables will account for 70 percent of new power supply worldwide, according to projections released today from Bloomberg New Energy Finance. Bloomberg analysts examined gas prices, carbon prices, the dwindling
price of green energy technology, and overall energy demand (which, in
the US at least, is on a massive decline
), and found solar and wind beating fossil fuels like coal and natural gas by 2030.
The chart shows the annual installations with different power sources in Giga Watts.