While renewable energy received subsidies in many markets to ensure a more level playing field, that trend is set to change. According to the IRENA report, Renewable Power Generation Costs in 2018, renewable power is already the cheapest source of electricity in many parts of the world. over three-quarters of the onshore wind and four-fifths of the utility-scale solar PV project capacity that is to be commissioned next year shows lower prices than the cheapest new coal-fired, oil or natural gas option. What’s exciting about renewable energy however is the impact it can have on other sectors. And that means the future is electric, renewable and, best of all, cheap.

Source: Forbes June 05, 2019 07:41 UTC