Oil companies are collapsing, but wind and solar energy keep growing

by Ivan Penn, The New York Times


Highlights

  • Renewable energy sources, such as wind and solar, may comprise 21% of the electricity in the U.S., up from about 18% in 2019
  • Solar and wind are producing electricity at a cost-competitive rate in the U.S. and throughout the globe compared to natural gas and coal due to government mandates to address the climate crisis
  • The pandemic has been hard on smaller solar companies who are seeing declines in rooftop installations
  • Energy research firm Wood Mackenzie estimates that solar and wind power will continue adding capacity throughout the year
  • Renewable energy has become more financially attractive as developers can build wind and solar farms more quickly than gas and coal plants

Fossil fuel divestment and the transition to 100% clean energy is critical to achieving The Climate Center’s goals under the Climate-Safe California Platform.


Read More: https://www.nytimes.com/2020/04/07/business/energy-environment/coronavirus-oil-wind-solar-energy.html

Nina Turner
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