Global Investment in Solar and Wind More Than Fossil Fuels
Dan Diehl
More investment is going to solar and wind than coal, natural gas and nuclear for generation capacity around the globe. This is a trend that has been increasing since 2010 according to an article about solar and renewable energy in the Wall Street Journal. The main reason for this trend is that solar and other renewable energy sources are the lowest cost option to generate electricity on a utility scale. Other reasons for the increased investment in solar and wind is that the capital is easier to come by as there are pension funds and other long term investors that are willing to finance solar farms and solar farms are easier to get permission to install with respect to coal, natural gas and nuclear power plants.
Below is a graph that shows the percentage of new power generation capacity world wide from 2010 to 2016.
This is great news for renewable energy and solar and wind in particular. Experts estimate that the price of solar and wind will continue to fall and replace a larger portion of the energy generation mix for the globe.