New Energy Is A Better And Better Buy

Wind and solar energy now cheapest forms of power in two-thirds of the world

Danica Cullinane, September 19, 2019 (Small Caps)

“… [The] globe will be 50% powered by renewable energy by 2037, with countries such as Australia, Italy, Germany and the United Kingdom anticipated to reach the 50% mark by 2029…[but] developing countries such as India, Indonesia, Thailand and the Philippines will not reach the halfway mark until 2039 or later…Malaysia is not expected to reach 50% renewable power until 2049… [In 2019, wind energy is the cheapest power for Germany, Denmark and Uruguay, and] nine other countries including the US, Canada and the UK…[Solar energy is] the cheapest energy technology in 2019 for Australia, Chile, Egypt, France, India, Israel, Italy, Saudi Arabia, South Africa, Spain and the United Arab Emirates…

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…[Natural gas is cheapest only in a few] Eastern European countries including Russia…[In five years,] coal’s list of countries has more than halved to mostly Asian nations including Indonesia, Thailand, Japan and South Korea…[By] 2030, the energy generated or stored and dispatched by [wind, solar, and lithium-ion batteries] will undercut electricity generated by existing coal and gas plants almost everywhere…[They will] reach more than 80% penetration in some markets…US$13.3 trillion (A$19.45 trillion) will be invested in new power generation assets over the next 32 years to 2050, with 77% (US$10.24 trillion) expected to go to renewables…[The majority will be in wind and solar, and it] will fund 15,145GW of new power plants between 2019 and 2050, of which 80% is zero carbon.” click here for more

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