The next 5-10 years are going to be an exciting time: building new renewable energy systems is going to be cheaper than operating existing coal power plants. Solar power just hit a record low of US2.175¢/kWh. I can’t tell you how exciting this is. We’re already seeing countries phase out building new coal power plants, soon we’re going to be seeing running coal power plants shut down to build new solar and wind.
Electrification of vehicles is also picking up steam, nearly 60% of new cars sold in Norway are fully-electric. E-bikes have improved in leaps and bounds in recent years, and cities are (slowly) making improvements in biking infrastructure as they realize cars don’t scale.
Renewable energy growth is now independent of any government policies, just corporations chasing profit as usual. It’s going to be a rapid shift in how we get our power, in our air quality, in our quality of life.
It will be balanced by economic losses for some – particularly for coal mines and oil wells. There are going to be stranded assets. If you have investments in fossil fuels, you probably want to get out now.
It’s a ray of shining hope, at a time when the future can seem very bleak.