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It's Official: Solar Is Becoming World's Cheapest Form of New Electricity
By Nadia Prupis
While unsubsidized solar has occasionally done better than coal and gas in individual projects, 2016 marked the first time that the renewable energy source has out-performed fossil fuels on a large scale—and new solar projects are also turning out to be cheaper than new wind power projects, BNEF reports in its new analysis, Climatescope.
The cost of solar in 58 developing nations dropped to about a third of 2010 levels, with China in particular adding a record number of solar projects. And as the Independent notes, solar "has proved a godsend for remote islands such as Ta'u, part of America Samoa, in the South Pacific."
In fact, Ta'u has been able to abandon the use of fossil fuels altogether and power itself almost entirely on renewable energy.
"Solar investment has gone from nothing—literally nothing—like five years ago to quite a lot," said Ethan Zindler, head of BNEF's U.S. policy analysis.
Disclosed capex for onshore wind and PV projects in 58 non-OECD countries.Bloomberg New Energy Finance
BNEF chairman Michael Liebreich also told investors this week that "[r]enewables are robustly entering the era of undercutting" fossil fuel prices.
Unsurprisingly, developing countries are at the forefront of this advancement, having invested in clean energy economies to stave off the catastrophic effects of climate change at a greater rate than wealthy nations.
"[F]or populations still relying on expensive kerosene generators, or who have no electricity at all, and for those living in the dangerous smog of thickly populated cities," Bloomberg reports, "the shift to renewables and increasingly to solar can't come soon enough."
Reposted with permission from our media associate Common Dreams.
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The University of California system will dump all of its investments from fossil fuels, as the Associated Press reported. The university system controls over $84 billion between its pension fund and its endowment. However, the announcement about its investments is not aimed to please activists.
By Ngozi Okonjo-Iweala
World leaders have a formidable task: setting a course to save our future. The extreme weather made more frequent and severe by climate change is here. This spring, devastating cyclones impacted 3 million people in Mozambique, Malawi and Zimbabwe. Record heatwaves are hitting Europe and other regions — this July was the hottest month in modern record globally. Much of India is again suffering severe drought.
By Mark Hertsgaard
The United Nations Secretary General says that he is counting on public pressure to compel governments to take much stronger action against what he calls the climate change "emergency."
A unique subpopulation of ancient walrus in Iceland was likely hunted to extinction by Vikings shortly after arrival to the region, according to new research.
By Tara Smith
Fires in the Brazilian Amazon have jumped 84 percent during President Jair Bolsonaro's first year in office and in July 2019 alone, an area of rainforest the size of Manhattan was lost every day. The Amazon fires may seem beyond human control, but they're not beyond human culpability.