‘INFLECTION POINT’: Renewables will be the ‘cheapest form of new power generation’ by 2020 – Graham Rapier July 8, 2017


texas wind turbines

Wind turbines near Lingleville, Texas. Texas produces the most wind power of any state. AP Photo/ Donna McWilliam

Renewable energy sources, like solar and wind, are quickly becoming as cheap—even cheaper—than their carbon-intensive counterparts like coal.

New research from Morgan Stanley estimates that renewables will be the cheapest source of power in the world in less than three years.

“Numerous key markets recently reached an inflection point where renewables have become the cheapest form of new power generation,” the bank said in a note.

“A dynamic we see spreading to nearly every country we cover by 2020. The price of solar panels has fallen 50% in less than two years (2016-17).”

Even if President Trump succeeds in withdrawing the US from the 2015 Paris climate agreement, the country could still cut more emissions than it had previously pledged to alongside 194 other countries.

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