GREEN ENERGY IS MOVING AT A 'TURBO-CHARGED' SPEED
Just over a decade ago, solar power, wind turbines and electric vehicles seemed futuristic. These technologies were both expensive and unreliable. But it has not taken long for that kind of technology to not only become reliable and affordable, but also to help create a dramatic shift in carbon emissions.
According to a New York Times article, “Clean energy became cheap far faster than anyone expected. Since 2009, the cost of solar power has plunged by 83 percent, while the cost of producing wind power has fallen by more than half.”
The same article states that solar and wind power are the least expensive new sources of electricity in many markets. They generate 12 percent of global electricity and counting. What’s behind it seems to be a combination of government action and consumer demand.
Recent legislation “provided tax breaks related to electric vehicles, heat pumps and energy efficiency upgrades, solar panel and wind turbine manufacturing and clean hydrogen production.” As a result, many auto manufacturers are committing to electric vehicle production and even banding together to ensure that enough chargers are available nationwide.
Electric vehicles are rapidly moving beyond consumer use, as buses, delivery trucks, semis and mail trucks go electric. Electric buses are also backed by federal grants.
The American incentives are spurring similar action to take place around the country. “In May, for the first time ever, wind and solar power in the E.U. generated more electricity than fossil fuels.”
In addition, corporations are able to affordably deliver on their promises to be part of the climate change solution as well. Because costs are falling, manufacturing is mounting for wind and solar projects.
This rate of adoption and affordability is only expected to increase in the coming years, especially with what seems to be unlimited investment from both the government and private parties. It’s estimated that we are only two years away from renewable energy overtaking coal as the world’s largest source of electricity.
We are incredibly excited to be here to play a role in this shift towards responsibility, profitability and global sustainability.