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This Is The End of The Fossil Fuel Age as We Know It, Says Report
BEC CREW
16 JUN 2016
Fossil fuels are holding on, but end of their reign is nigh,
says a new report from Bloomberg New Energy Finance, which predicts that wind and solar will be cheaper than coal and gas generators by 2027, and electric vehicles could make up 25 percent of the global car fleet by 2040.
The peak year for coal, gas, and oil looks to be 2025, and then it’s all downhill from there. For big oil guys, at least. "You can't fight the future,"
says lead researcher, Seb Henbest. "The economics are increasingly locked in."
Released on Monday, Bloomberg’s
New Energy Outlook report has found that
US$11.4 trillion will be invested in new energy sources over the next 25 years, and two thirds of that will go towards renewables, particularly wind and solar.
Any new coal plants will mostly be cropping up in India and other emerging markets in Asia.
The report explains:
"Cheaper coal and cheaper gas will not derail the transformation and decarbonisation of the world’s power systems. By 2040, zero-emission energy sources will make up 60 percent of installed capacity.
Wind and solar will account for 64 percent of the 8.6TW [1 Terawatt = 1,000 Gigawatts] of new power generating capacity added worldwide over the next 25 years, and for almost 60 percent of the $11.4 trillion invested."
The report predicts that coal, gas, and oil will peak by 2025, and will hit its final decline even sooner than that,
concluding that, "coal and gas will begin their terminal decline in less than a decade".
By 2027, the real tipping point will occur, when fossil fuels will be well and truly on the decline and renewables have been established long enough that they’ll likely be generating energy more cheaply than existing coal, gas, and oil refineries. And there’s nothing quite like a cheaper price to accelerate an industry even further.
https://www.sciencealert.com/this-is-the-end-of-the-fossil-fuel-age-as-we-know-it-says-report
The end of the Fossil Fuel era is upon us so what are we going to do next-?
https://www.worthychristianforums.com/topic/230582-the-end-of-the-fossil-fuel-era-is-upon-us-so-what-are-we-going-to-do-next/
World governments vow to end fossil fuel era at UN climate signing ceremony
Representatives of more than 170 countries endorse Paris agreement to cut carbon emissions, with France’s president saying: ‘There is no turning back’
World governments vow to end fossil fuel era at UN climate signing ceremony