And The Winner Is – New Energy!
IEA: Renewable Energy Has Winning Potential; The International Energy Agency says solar is about to boom (some more) and offshore wind farms could power the whole world—18 times over! If we let them, that is. <[p> Jeff Turrentine, November 1, 2019 (Natural Resources Defense Council)
“…[Two new International Energy Agency (IEA)] are notable for their unprecedentedly optimistic tone regarding [New Energy, which] should help put to rest any questions as to whether wind and solar have the potential to power the United States—or even the entire world…[Renewables 2019 found New Energy] capacity will expand by 50 percent between 2019 and 2024. This [equal to the total installed power capacity of the and] an increase of 1,200 gigawatts…[with 60%] predicted to be in the solar category, driven by deep drops in price that would attract businesses and factories eager to cut costs and homeowners eager to generate their own on-site electricity. China will likely lead the global pack in solar expansion, accounting for nearly half of it…
…[and Offshore Wind Outlook 2019 found] offshore wind energy, ‘using high-quality resources available in most major markets,’ has the potential to generate more than 18 times the current [23,000 terawatt-hours (TWh)] electricity demand of the entire world…[With investments of sufficient time, money, and political willpower toward the goal of letting offshore wind live up to its full potential,] global offshore wind capacity will grow to 15 times its current size by 2040, becoming a $1 trillion industry…[China will second] behind the European Union, which is projected to expand its offshore wind capacity from 20 gigawatts today to 130 gigawatts by 2040…[But without the commitment to] investing in—and scaling up—the means to turn abundant wind and sunlight into electricity, all the IEA’s exciting scenarios will remain just that: exciting scenarios.” click here for more