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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.
EcoWatch Daily Newsletter
By Genna Reed
The EPA announced last week that it is issuing a preliminary regulatory determination for public comment to set an enforceable drinking water standard to two of the most common and well-studied PFAS, PFOA and PFOS.
This decision is based on three criteria:
- PFOA and PFOS have an adverse effect on public health
- PFOA and PFOS occur in drinking water often enough and at levels of public health concern;
- regulation of PFOA and PFOS is a meaningful opportunity for reducing the health risk to those served by public water systems.
By Kieran Cooke
Driving an electric-powered vehicle (EV) rather than one reliant on fossil fuels is a key way to tackle climate change and improve air quality — but it does leave the old batteries behind as a nasty residue.
Finance ministers from the 20 largest economies agreed to add a scant mention of the climate crisis in its final communiqué in Riyadh, Saudi Arabia on Sunday, but they stopped short of calling it a major economic risk, as Reuters reported. It was the first time the G20 has mentioned the climate crisis in its final communiqué since Donald Trump became president in 2017.