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Renewable energy will compete across the board by 2020

Wednesday, February 28, 2018

Subject

Renewable energy.

Significance

Studies show that onshore wind and utility-scale solar photovoltaic (PV) cell technology are now the cheapest form of electricity generation in many regions, supporting their expansion at the expense of fossil fuels and nuclear power.

Impacts

  • Rising renewables capacity will displace fossil fuel power in oil and gas producing countries, underpinning their ability to export.
  • Renewables will displace fossil fuel demand in oil and gas importing countries, reducing pollution and increasing consumer choice.
  • Solutions will emerge to the lower reliability of renewables but initially it will boost gas-fired power.
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