A new report from the Rocky Mountain Institute (RMI) is increasingly optimistic about the future of renewable energy. In ‘5 Reasons Why The Clean Energy Future Can’t Be Stopped‘, writer Kevin Haley notes the energy industry is “poised to make energy cleaner and cheaper than ever before…it’s now safe to say that clean energy isn’t just winning — it has officially won.” Haley provides five reasons why clean energy’s future is unstoppable, including:
- Money: Renewable energy sources are set to represent almost three quarters of the $10.2 trillion the world will invest in new power-generating technology until 2040.
- “Expensive” renewables is just a myth: In late 2017, a 3 MW solar project began in New Mexico that was selling power below 4.5 cents per kilowatt-hour; officially the lowest reported contract for distributed photovoltaic solar energy across the entire U.S. – ever.
- More corporations are choosing renewable energy: Corporate-backed renewable projects now power 7 million U.S. homes.
- More nations are considering bans on gas and diesel-powered vehicles: Governments in India, France, Norway and China have all recently announced possible bans.
- Big oil and gas corporations are looking to renewables: Within the past year, huge oil and gas corporations have made investments in renewable energy companies.
Renewable energy indeed has a bright future. To read more from RMI, check out their full report here.