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33% of the world’s energy will come from wind and solar by 2030
According to a report by the Rocky Mountain Institute (RMI), wind and solar projects are on track to supply more than a third of the world’s electricity by 2030. This shows that the energy industry can make the necessary changes to help the world meet its climate change goals.
Source: Medium
According to RMI, the exponential rate of deployment is bringing down the cost of renewable energy at a never-before-seen rate, rendering more expensive hydrocarbons uncompetitive in most markets. By 2030, it is anticipated that the cost of solar energy will have decreased by half, from $40/MWh to $20/MWh.
The Bezos Earth Fund, a $10 billion fund established by Amazon owner Jeff Bezos to help fund solutions to climate change, and The RMI, a U.S.-based non-profit organization focused on clean energy, collaborated to conduct the research.
“The benefit of rapid renewable deployment is greater energy security and rocky independence, plus long-term energy price deflation because this is a manufactured technology – the more you install the cheaper it gets,” said Kingsmill Bond, Senior Principal at RMI.
Wind & Solar