Fossil fuels are unreliable due to political reasons and as such there is large price variation in fuel supplies, however on the renewable front the price just keeps going down. The economic success of renewables is clear and last year we saw renewables winning nearly every metric. Over at Canary Media they have a series of charts and stats that show just how well renewable energy is doing.
The latest data shows solar and wind made a speedy ascent this year — so speedy that they’re more than covering new power demand around the world.
Between January and September, power demand around the world rose by 603 terawatt-hours compared to that same time period last year. Solar met nearly all of that new demand on its own, and with a boost from wind, was able to cover all of it.
That’s a huge deal for the clean energy transition. When we produce more renewable power than is needed to cover growing demand, that’s when we can start chipping away at fossil fuels.