What’s Behind the World’s Biggest Climate Victory? Capitalism


Source: Bloomberg

 

 

Capitalism is driving renewables over coal:

“The market triumph of renewable energy marks the biggest victory yet in the fight against global warming. Solar and wind are proliferating not because of moral do-gooders but because they’re now the most profitable part of the power business in most of the world. An industry that once relied on heavy subsidies and was propped up by government mandates is now increasingly standing on its own . . .

Solar, wind and hydropower resources combined generate more than a quarter of the world’s electricity. In China and India that share will surpass 60% by 2050, BNEF estimates show, and Europe will top 90%.”

 

Full interactive graphic/column here.