New research from Morgan Stanley estimates that renewables will be the least expensive source of power in the world in less than three years.
“We project that by 2020, renewables will be the cheapest form of new-power generation across the globe,” with the exception of a few countries in Southeast Asia, the Morgan Stanley analysts said in a report published last Thursday.
This is great news for those who are in the solar and wind industries and for consumers who prefer to run their homes and businesses on green energy. The most remarkable thing about this report, however is that even with the current administration’s lack of support for the Paris Climate agreement, Morgan Stanley analysts predict that the USA will actually “exceed the Paris commitment of a 26-28% reduction in US 2005-level carbon emissions by 2025,”
Wow. Let that sink in.
“Utilities with deregulated power plants, which must compete to sell power, generally will experience greater upside (if they are leaders in renewable energy development) and downside (if they own large fleets of fossil and nuclear power plants in competitive markets with cheap renewable energy).”
Are you listening utility companies?
By Laureen Peck, VP Marketing, Solar Energy World, July 12, 2017
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