Renewable energy is surpassing fossil fuels for the first time in new power-plant investments, shaking off setbacks from the financial crisis….
Electricity from the wind, sun, waves and biomass drew $187 billion last year compared with $157 billion for natural gas, oil and coal, according to calculations by Bloomberg New Energy Finance using the latest data. Accelerating installations of solar- and wind-power plants led to lower equipment prices, making clean energy more competitive with coal.
That’s the latest, amazing news from Bloomberg.
Last week, Bloomberg New Energy Finance reported that renewable energy investments are projected to double over the next eight years and reach $395 billion per year. No, that isn’t enough to stabilize emissions and control climate change, according to the International Energy Agency. But it is still very impressive.
Here’s more from Bloomberg: